Toronto/CMEDIA: In its efforts reportedly to strengthen Canada’s economic resilience in response to tariff measures from the U.S, The City of Toronto offers support and protection for its local manufacturers with the launch of the Industrial Property Tax Deferral Program.
The Industrial Property Tax Deferral Program was launched today by Toronto Mayor Olivia Chow and members of the Mayor’s Economic Action Team at Plastic Plus, a local manufacturer of glasses, frames and lenses.
“Toronto manufacturers…the heart of our local economy…This tax deferral program is one way we’re stepping up to support them during a senseless and harmful trade war,” Mayor Chow said.
As one of the 10 immediate actions in the Mayor’s Economic Action Plan in Response to the US Tariffs, this new program would provide financial relief for Toronto’s manufacturing sector.
Eligible industrial property owners would be facilitated by The Industrial Property Tax Deferral Program to defer 2025 tax payments from June 1 to November 30 without late fees or interest charges, offering much-needed cash flow flexibility for businesses navigating trade uncertainty.
Supporting Toronto’s manufacturing sector
Being home to one of Canada’s largest and most diverse manufacturing hubs, producing everything from food and beverages to auto parts and advanced technologies, Toronto City’s action plan includes multiple measures to support this critical sector including:
- A dedicated and streamlined service to connect manufacturers with City resources and business support.
- Launching the City’s Love Local campaign that helps promote Toronto-made goods and local employers while also raising awareness about the importance of local manufacturing.
- Partnerships with regional municipalities and export development agencies to expand markets and reduce reliance on U.S.-based suppliers.
- Procurement policy changes to prioritize Canadian-made goods and create new opportunities for Toronto-based manufacturers to compete for City contracts.
These actions would not only strengthen local supply chains, boost industrial resilience but also ensure Toronto remains a competitive hub for innovation and production.
Mayor’s Economic Action Plan in Response to U.S. Tariffs, in Response to U.S. Tariffs was approved on March 26 by theToronto City Council
Besides supporting manufacturers, the plan includes changes to City procurement policies, worker and employer support programs and other targeted tools to protect Toronto’s economy.
More information about the Industrial Property Tax Deferral Program and the Economic Action Plan can be found on the City’s website.
“Toronto has long been home to one of Canada’s largest and most diverse manufacturing sectors..Our local manufacturers are absolutely essential to the city’s economy…to strengthen our supply chains, boost resilience across the sector, and make sure Toronto stays competitive as a centre of innovation and production,” Councillor Shelley Carroll (Don Valley North), Mayor’s Economic Development and Culture Champion, Vice Chair for Mayor’s Economic Action Team said.
