Toronto unveils new action plan to bolster economic development

Ontario Construction News staff writer

The City of Toronto has introduced a new staff report titled Sidewalks to Skylines: An Action Plan for Toronto’s Economy (APTE), outlining a comprehensive 10-year strategy aimed at sustaining and enhancing the city’s economic vitality. The plan was unveiled Wednesday by Mayor Olivia Chow, along with Economic Advisory Panel co-chairs Councillor Shelley Carroll and Zabeen Hirji, at the University of Toronto’s Schwartz Reisman Innovation Campus.

Developed through extensive public consultation, engaging more than 1,000 stakeholders from various sectors, the APTE focuses on creating a prosperous, inclusive, and sustainable economy that benefits all residents. The plan sets a long-term vision to enhance Toronto’s competitiveness while addressing pressing challenges such as housing affordability, public safety, and transit efficiency—key factors for a thriving construction industry.

By 2035, the Sidewalks to Skylines plan aims to ensure that Toronto offers the highest quality of life, supported by efficient municipal services vital for attracting and retaining businesses. Key themes of the proposed plan include:

• Strong main streets: Supporting small businesses that anchor neighborhoods and contribute to local economies.
• Quality jobs: Fostering job creation and leveraging local talent to build an inclusive workforce.
• Global competitiveness: Encouraging high-value sectors like technology, life sciences, and creative industries.

The plan emphasizes the importance of collaboration across government, industry, and community sectors to tackle challenges and contribute to Toronto’s and Canada’s broader economic prosperity. As Toronto accounts for 20 percent of the national output and 53 percent of the provincial economy, the success of this plan is crucial not only for the city but for the entire region.

The recommendations outlined in the staff report and action plan will be discussed at the Economic and Community Development Committee meeting on October 23, followed by consideration at Toronto City Council from November 13 to 15.

“This action plan lays out a clear path toward innovation, inclusivity, and sustainability,” said Mayor Olivia Chow. “It provides decisive steps to support our main streets, create quality jobs, and ensure that every community can benefit from our economic growth.”

The Sidewalks to Skylines plan represents a strategic opportunity for the construction industry, emphasizing the need for improved infrastructure, housing solutions, and community engagement. As the city moves forward with these initiatives, construction professionals are encouraged to participate in discussions and contribute to the ongoing development of Toronto’s economic landscape.

For more information about the Sidewalks to Skylines action plan, visit the City of Toronto’s website.