Toronto Predicted To Be One Of The Top Picks For Amazon Headquarters
We’ve just heard rumours that the CEO just visited all 20 cities that are on the shortlist for Amazon Headquarters, which is a project expected to bring around $5 billion and 50,000 jobs to the city that is chosen. Toronto was thought of as a long shot, until now.
According to The Star, Resonance, with offices in Vancouver and New York, used its data on cities and Amazon’s “request for proposal” to rank which of the 20 shortlisted cities best meet the electronic retailing giant’s criteria for a new hub with up to 50,000 employees and billions of dollars of potential investments.
— Resonance (@Resonanceco) May 10, 2018
The six main factors they looked at were:
Educational attainment and the ranking of institutions of higher education
2. Cultural Community Fit
Diversity measured by the percentage of population foreign born and percentage that speak a language other than English at home
3. Quality of Life
Crime rate, the average time to commute to work, and the quality of neighbourhoods and landmarks
4. Housing Affordability
Affordability of housing relative to the median household income
5. Recreational Opportunities
Access to quality parks and outdoor activities
6. A Stable and Business-friendly Environment
The number of Fortune 500 companies
“It surprised us to see Toronto come out at number two because we don’t usually think about Toronto as being second only to New York,” said Chris Fair, Resonance’s Calgary-raised president. He credits Toronto’s edge on “experiential” quality-of-life factors including nightlife, parks, safety, culture and pro sports.
The bad news for Toronto is that, when Fair factored in other considerations, including the city not offering tax breaks and Amazon planning a major expansion of its other Canadian office, in Vancouver, Toronto fell off the leaderboard, said The Star. New York also fell down the list because of its scarcity of suitable real estate.