(AGENPARL) – Thu 17 April 2025 City of Toronto Media Relations has issued the following:
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News Release
April 17, 2025
City of Toronto launches Industrial Property Tax Deferral Program to support local manufacturers impacted by U.S. tariffs
The City of Toronto is taking further action to support and protect local manufacturers while helping to strengthen Canada’s economic resilience in response to tariff measures from the U.S. with the launch of the Industrial Property Tax Deferral Program.
Today, Mayor Olivia Chow and members of the Mayor’s Economic Action Team launched the program at Plastic Plus, a local manufacturer of glasses, frames and lenses. This is one of 10 immediate actions in the Mayor’s Economic Action Plan in Response to U.S. Tariffs, providing financial relief for Toronto’s manufacturing sector in response to newly imposed U.S. tariffs.
The Industrial Property Tax Deferral Program allows eligible industrial property owners 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
Toronto is home to one of Canada’s largest and most diverse manufacturing hubs, producing everything from food and beverages to auto parts and advanced technologies.
The 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.
Together, these actions aim to strengthen local supply chains, boost industrial resilience and ensure Toronto remains a competitive hub for innovation and production.
On Wednesday, March 26, Toronto City Council approved the Mayor’s Economic Action Plan in Response to U.S. Tariffs, an evolving and nimble strategy to respond to the economic impacts of U.S. trade measures.
In addition to 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 can be found on the City’s website: toronto.ca/tariffs.
Quotes:
“Toronto manufacturers are at the heart of our local economy, creating jobs, building essential goods and supporting families across the city. This tax deferral program is one way we’re stepping up to support them during a senseless and harmful trade war.”
– Mayor Olivia Chow
“Toronto has long been home to one of Canada’s largest and most diverse manufacturing sectors, and we’re proud of that legacy. Our local manufacturers are absolutely essential to the city’s economy—and thanks to the City’s action plan, we’re taking real steps 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