Report says jobs fleeing TO for 905

(Source: thespec.com)

Toronto is at risk of becoming a bedroom community for the booming 905 regions, warns a new report by the Toronto Board of Trade. 

Cities that were once outer suburbs are now growing employment areas as more businesses have pulled up stakes in the downtown core for cheaper real estate.

Meanwhile, the city itself faces increasing disparity between the wealthy, who buy downtown condos where factories once stood, and the poor who inhabit the increasingly deprived inner suburbs.

So Toronto remains an attractive place to live, but struggles to keep up with its neighbours on key economic indicators such as employment, productivity and income growth.

“It’s a tale of two cities,” president and CEO Carol Wilding said at yesterday’s release. “We see the reverse, or mirror images, from the city proper versus the 905.”

Read Vanessa Lu’s full article “Toronto a GTA Suburb?“, thespec.com (April 8, 2009).

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