Recently, Google has selected Toronto as their location to be branded as a new high tech city. Detroit and Denver were also considered, while Toronto was their final decision. Google has applied to develop a 12 acre strip of land in Toronto, to create some form of technological urban innovation. This project follows Sidewalk Labs' Link NYC project, where they created hundred of internet kiosks across NYC.
* Why do you think they selected Toronto? Due to the low Canadian dollar?
* What kind of project could we expect here? Repeat of Link NYC? Something to help traffic congestion?
Here's the article: http://fortune.com/2017/05/09/google-alphabet-toronto-canada/
Definitely due to the shitty CAD
Seriously doubt their core thesis for a long-term investment is a shitty CAD.
Trump should nuke Canada. Teach those bastards a lesson!
Idk enough about Toronto economically or culturally to be sure of why it was selected--BUT I had a banging ass time last time I went to Toronto and it was just lots of fun to stroll around. I loved their Chinatown too and ugh the food there was definitely some of the best I've had. There were really awesome family-owned Vietnamese restaurants too, loved it. Entry to the CN Tower is expensive as shit though lol.
But on a more serious note, isn't Toronto one of Canada's largest business hubs? Maybe Google's trying to expand to Canada? I imagine Google's essentially got the US in the bag, though I don't know much about the tech landscape to say. If they're trying to spread internationally, Canada seems like a decent bet.
Nice, I'm pretty sure that they are opening an office in Kitchener Ontario soon as well.
They selected Toronto because Canada has some of the best schools in the world for Computer Science (Waterloo, U Toronto, UBC), US Visa restrictions for guys from abroad, especially talented Asians, Vancouver's too expensive, Montreal's too french, and Canada's liberal af. Not because it's a market worth expanding to, with its measly population vis-a-vis the US, or the Canadian Dollar.
In the end, these computer scientists working on high-tech innovation will go back to optimizing ad revenue, only difference being they're located in Toronto.
This. It all has to do with talent. The idea that it's because of currency is complete and utter nonsense.
Seems like immigration could be a big factor, specifically Trump scaling back the H1B program (or increasing the salary minimum for eligibility). Also Toronto is a relatively immigrant friendly city.
Probably because they take UW co-op students religiously over other schools. They also already have a small office in the Waterloo area, makes sense to add a major office in a nearby Canadian tech hub.
Also the Canadian headquarters on Richmond street already.
...
Good decision. Lol @ politicians in Vancouver trying to build this city into a Canadian tech hub. Such a hipster joke town with nil opportunities with astronomically high real estate prices.
It is a pretty smart decision on Google's part.
Canada has top CS/engineering institutions like UWaterloo/UToronto/UBC (and great undergrad business schools with Ivey and Queen's Commerce).
Very intelligent immigration policy with a points system. All those talented foreign immigrants (India/China/etc) have an easier time going there and getting a full citizenship. (My father immigrated from India to Canada and then the U.S because getting in the US and getting a citizenship from H1B is uselessly complex for talented individuals)
Toronto is the best city in Canada mostly because Vancouver is too expensive, Montreal is French, Ottawa doesn't have enough business, and Edmonton is too damn cold.
Income taxes aren't that bad in Toronto when you consider local and state taxes in NYC and SV/SF. And that Canada's corporate and capital gains tax is far lower than America's.
A huge focus of Canada's current government has been to lure as much foreign investment into its tech sector as possible. As others have said there is an abundance of talent in the country. Hubs like Toronto and Waterloo are growing rapidly with recent announcements like Uber's self-driving car facility, a new artificial intelligence institute, big data facilities, etc.
Also Toronto's real estate market has been surging. Google obviously recognizes the value in having access to 2,000 acres of the downtown core of such a supply-driven market.
Quibusdam voluptatibus saepe nostrum. Blanditiis unde qui aut velit et eum et tempore. Quidem illum qui enim eius totam. Nulla debitis id impedit nihil ipsam et nemo at.
Velit laboriosam veritatis ex est quo accusamus quae libero. Vel cum ex deserunt provident delectus ipsam. Mollitia est inventore eligendi qui iste a vel. Possimus quisquam doloribus quas ut vel voluptatum. Quia culpa nam assumenda qui. Recusandae sit asperiores natus.
Quas illo soluta reprehenderit dolor quia fugit. Quis similique delectus placeat et est. Nulla possimus rerum voluptas cum.
Ab maiores distinctio autem omnis commodi aut rerum. Similique deleniti consequatur nobis qui voluptatum dolorem qui. Ad odio et voluptatibus quam laboriosam adipisci ut laudantium. Quasi eligendi ad dignissimos aliquam in voluptatem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...