Why this matters

Downtown Toronto is the most important financial city in Ontario and Canada.

Toronto, in particular its downtown core, is the commercial and financial capital of Canada. It is a fast growing financial centre in North America and one of the ten largest financial centres in the world.

DYK? The downtown area is home to 38 percent of Canada’s head offices in diverse industries. These include American Express Canada, the five largest Canadian banks, Bell Canada, Eaton’s, Famous Players, Hewlett-Packard and IBM Canada. Downtown Toronto alone has more than 20,400 businesses, or 8.2 percent of the entire greater Toronto Area.

But local businesses are more than just employers, workers and economic drivers. These are places where we congregate with friends and family. Where we create memories and discover new music, books and ideas.

For the hundreds of thousands of people who live downtown, many who don’t have backyards, our main streets are where they go to exercise, to celebrate and socialize. These businesses are instrumental to the vitality of downtown areas, and they also contribute significantly to the urban health and safety of our streets.

DYK: The Downtown Yonge district hosts more than 700 businesses, 80 percent of which are local SMEs. These stores cover more than 4 million square feet and are part of four shopping centres, including Toronto’s Eaton Centre, the busiest shopping centre in North America.

If even 10% of businesses in downtown Toronto close, it could be disastrous for the health and financial recovery of our City, our Province and our Country.

 

Keeping our Neighbourhoods Healthy and Safe

While Toronto is the commercial and financial capital of Canada, it’s downtown has also historically shouldered the concentration of shelter and support for Torontonians living with homelessness, addiction and mental health. This has been the case for generations since the initial wave of migrants first arrived in this city.

In some areas, this has meant that rising inequality and the impacts of the concurrent housing, addictions and mental health crisis are having an increasingly acute impact on the downtown.

As many people who are fortunate enough to have homes largely stayed indoors as recommended by public health officials, this has resulted in a reduction in the number of people (i.e. "eyes on the street") in the neighbourhood whose physical presence may help discourage anti-social behaviour such as vandalism, illegal garbage dumping and other anti-social behaviour.

Supporting downtown businesses and encouraging people to return to the core will directly increase the safety in the area, and ensure there are more people available to help our neighbours in need.

The next Federal Government must extend urgent financial support and to save these businesses - we need your help!

Add your voice to #SaveMainStreetsTO

Campaign Coalition

Email:
Address: 100 Queen St W, Toronto, ON M5H2N2