Toronto

Economy

Toronto is the economic heart of Canada. It is home to over 80,000 businesses, including more than one-third of the country's top 500 industrial firms. With over 8,000 industrial plants, Toronto is Canada's manufacturing capital. It is also Canada's major center for banking and finance. Five of the country's ten chartered banks are headquartered in the city, and more than 40 foreign banks have offices there. In addition, many of the nation's top insurance and investment firms also have offices in Toronto. Like New York—its economic counterpart in the United States—Toronto is also the major media and communications center of its country, as well as its major metropolitan retail market. Major companies with offices in Toronto include American Express Canada, the Bank of Montreal, Bell Canada, Eaton's, Famous Players, Hewlett-Packard Canada, IBM Canada, Labatt Breweries, Molson Breweries, Sears Canada, Sprint Canada, and Toronto Dominion Bank.