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Feb 8, 2018

Three things Trudeau could tell Jeff Bezos to help win Amazon HQ2

Amazon CEO Jeff Bezos and Canadian Prime Minister Justin Trudeau.

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Prime Minister Justin Trudeau is meeting with Amazon CEO Jeff Bezos Thursday as the sweepstakes to land the tech giant’s second headquarters heats up.  

With Toronto as the only Canadian city included in Amazon’s 20-city shortlist, Trudeau may have an opportunity to campaign for HQ2 to make its home north of the border.

Here are three things that Canada could promote, according to recent comments by BNN guests, in order to convince Bezos and Amazon that HQ2 should be in Toronto:

HEALTHCARE

One of the things that distinguishes Toronto from American cities vying for HQ2 is Canada’s universal healthcare system, Michele Romanow, co-founder of fintech company Clearbanc, recently told BNN.

“As an  entrepreneur here, it’s a tremendous advantage that the healthcare costs that I pay are a fraction of what the Americans pay — that I don’t have that level of burden,” Romanow recently told BNN in an interview.

Healthcare has been repeatedly mentioned in Toronto’s HQ2 bid, and Bezos has certainly shown it’s a priority to him after he, Berkshire Hathaway CEO Warren Buffett and JPMorgan CEO Jamie Dimon announced they’re forming a non-profit company to cut healthcare costs for their employees.

POLITICS

With U.S. politics continuing to be volatile one year into U.S. President Donald Trump’s term, Trudeau might also want to compare the current climate in Capitol Hill to the one in Parliament Hill.

Toronto Global Chair Mark Cohon said in an interview with BNN after Amazon’s shortlist was unveiled that many U.S.-based tech companies are already thinking about moving to Canada.

"With what's going on in the U.S. right now … half the calls we are getting and the in-bound interest in the Toronto region is coming from U.S. companies, and 80 per cent is coming from U.S. tech companies. So I think what's going on in the U.S. is helping the Toronto region,” said Cohon, whose advisory firm Toronto Global worked on the city’s pitch to Amazon.

But Ed Clark, who serves as Ontario Premier Kathleen Wynne’s top business advisor and headed Toronto’s pitch to Amazon, said to BNN last month the city might find these same politics could hurt its candidacy in the end.

“If you said what is the best of those 20 places for [Bezos] to go, Toronto is head and shoulders above everything else,” Clark said. “It will win hands down, and then [Bezos] will pause and say, ‘How irritated do I want Mr. Trump to be at us?’”

TALENT

Yet Clark also pointed out Bezos’ global ambitions could drive the company to pick Toronto due to the city’s multicultural workforce.

“If he wants to produce a great world company, he has got to tap world talent and he can’t tap world talent from where he is now,” Clark said.

The city’s bid touted its access to a deep and diverse tech talent pool. According to CBRE, 22,500 new jobs were created in the tech sector last year, more than New York and San Francisco combined.

“We have an incredible employment base in this city,” former Toronto city planner Jennifer Keesmaat told BNN last October. “We are an open, welcoming city. These are things that you would think are no-brainers in most cities but they’re actually pretty unique to Toronto.”

“We tick all of the boxes,” Keesmaat said. “We've been doing a lot of work over the past decade to get ready for this moment in the city's history.”