- Community agencies, non-profit sector leaders, City
officials, and Infrastructure Ontario join business leaders on
Leadership Table
- Small business catalyzer and Infrastructure joint venture
will be launched
TORONTO, Nov. 5, 2019 /CNW/ - BMO Financial Group,
United Way Greater Toronto and the City
of Toronto today announced that the Greater Golden Mile area
in Scarborough has been selected
as the first for a new approach to build inclusive local economic
opportunity and stronger neighbourhoods. This pilot follows
extensive work over the last year by the Inclusive Local Economic
Opportunity (ILEO) Leadership Table.
Announced in fall 2018, the ILEO Leadership Table is a
ground-breaking initiative spearheaded by BMO and United Way
Greater Toronto that brings together business and community leaders
to work together to reduce economic disparity. BMO announced a
$10 million commitment last year to
support this new model for corporate-community partnerships; the
bank will leverage the model in other neighbourhoods including
Chicago where it has pledged
$10 Million to United Way.
"Together business and community leaders have the ability to
effect real, lasting change," said Darryl
White, Chief Executive Officer, BMO Financial Group and
Co-Chair, ILEO Leadership Table. "The GTA has become a sea of
islands segregated by income with too many people not realizing the
benefits of the economic growth across the region. Greater shared
prosperity requires deeply coordinated efforts between the public
and private sectors. Our pilot projects in the Greater Golden Mile
represent our first on-the-ground steps to boldly grow the good in
business and life by addressing pressing concerns of economic
inclusion."
The Greater Golden Mile was selected for the pilots because of
community engagement in the initiative, and timely local economic
revitalization opportunities that can be leveraged. With
significant public infrastructure investments like the Eglinton
Crosstown LRT, large private redevelopments and potential corporate
partnerships in the area, opportunity abounds.
"This is about leveraging opportunity for greater public good,"
said Daniele Zanotti, United Way
Greater Toronto President & CEO and Co-Chair, ILEO Leadership
Table. "It's about making sure that Greater Golden Mile residents
share in the benefits of new economic opportunities, and can be a
part of the change resulting from the area's rising prosperity.
It's up to all of us around the table to show that we can find
local solutions that bridge the gap – and create a model for future
inclusive economic development."
"The growth we are seeing in the Greater Golden Mile
neighbourhood makes it a perfect choice for a program that will
help address issues around economic disparity. I am hopeful that
the results of this innovative and collaborative initiative will
help us in future planning, economic development and social
infrastructure across the city," said Mayor John Tory.
The ILEO Corporate Leadership Table was established in
September 2018 to identify ways
businesses could bring inclusive economic growth to
neighbourhoods. Following an extensive review of the Greater
Golden Mile, two corporate initiatives will soon launch.
First, a small business catalyzer led by RioCan and developed in
partnership with PwC Canada that will accelerate emerging local
businesses through the provision of time-limited low-rent or
rent-free spaces; and second, a community-owned infrastructure
joint venture led by Aecon to meet supply chain needs for
construction/maintenance contracts in part resulting from the
Eglinton cross-town LRT expansion.
Mr. White and Mr. Zanotti also announced the addition of new
members to the ILEO Leadership Table.
"No one sector or single person can address these challenges
alone," said Mr. White. "It will take multisector collaboration,
working directly with the community to create systemic change and
bring vitality to neighbourhoods.
Added Mr. Zanotti: "This is the United Way: bringing
together different sectors, each with their own unique way of
thinking, problem-solving and set of assets to work together. ILEO
is helping to ensure that neighbourhood revitalization means
inclusive local economic opportunities for the residents in the
Greater Golden Mile."
Contributors to the ILEO initiative include:
Community and Public Sector members:
Anne Babcock, President and Chief Executive
Officer, Woodgreen Community Services
Denise Andrea Campbell,
Executive Director, Social Development, Finance &
Administration, City of
Toronto
Giuliana Carbone, Deputy City Manager, Community &
Social Services, City of
Toronto
Ehren Cory, President and Chief Executive Officer,
Infrastructure Ontario
Cynthia du Mont, Executive Director, West Scarborough
Neighbourhood Community Centre
Sandy Houston, President
and Chief Executive Officer, Metcalf
Foundation
Colette Murphy, Executive
Director, The Atkinson Foundation
Allison Pond, President and
Chief Executive Officer, ACCES
Employment
Marcie Ponte, Executive
Director, Working Women Community Centre
Rosemarie Powell, Executive
Director, Toronto Community Benefits Network
Ginelle Skerritt, Executive
Director, Warden Woods Community Centre
Mike Williams, General
Manager, Economic Development & Culture, City of Toronto
Founding members of the Corporate Leadership
Table:
Ayman Antoun,
President, IBM Canada
John M. Beck, Founder and
Executive Chairman, Aecon Group Inc.
Mitchell Cohen, President,
The Daniels Corporation
Dean A. Connor, President and
Chief Executive Officer, Sun Life Financial
Daniel L. Doctoroff, Chairman
and Chief Executive Officer, Sidewalk Labs
Michael Friisdahl, President
and Chief Executive Officer, Maple Leaf Sports & Entertainment
Ltd.
Meric Gertler, President,
University of Toronto
Jonathan Gitlin, President
and Chief Operating Officer, RioCan Real Estate Investment
Trust
Cynthia Hansen, Executive
Vice President and President, Gas Distribution & Storage
Enbridge
John A. Honderich, Chair of
the Board, Torstar Corporation
Nicolas Marcoux, Chief
Executive Officer, PwC Canada
Michael H. McCain, President
and Chief Executive Officer, Maple Leaf Foods
Marcia Moffat, Managing
Director and Head of Canada,
BlackRock
Andrew Pickersgill, Managing
Partner, McKinsey & Company Canada
Andrew Pringle, Principal and
Chairman, RP Investment Advisors LP
Kenneth Tanenbaum,
Vice-Chairman, Kilmer Van Nostrand Co. Ltd.
Darryl White, Chief Executive
Officer, BMO Financial Group (Co-Chair)
Beth Wilson, Canada Chief Executive Officer, Dentons
Daniele Zanotti, President
and Chief Executive Officer, United Way Greater Toronto
(Co-Chair)
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly
diversified financial services provider - the 8th largest bank, by
assets, in North America. With total assets of $839
billion as of July 31, 2019, and a team of diverse and
highly engaged employees, BMO provides a broad range of personal
and commercial banking, wealth management and investment banking
products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, BMO Wealth Management and BMO Capital
Markets.
About United Way
As the largest non-government funder of community services in
the GTA, United Way Greater Toronto reinforces a crucial community
safety net. United Way's network of agencies and initiatives in
neighbourhoods across Peel, Toronto and York Region works to ensure that
everyone has access to the programs and services they need to
thrive today. Mobilizing the network and other community support,
United Way tackles #UNIGNORABLE issues linked to poverty. United
Way's work is rooted in ground-breaking research, strategic
leadership, local advocacy and cross-sectoral partnerships
committed to building lasting solutions to the GTA's greatest
challenges.
SOURCE BMO Financial Group