The four-day New Jersey-Canada Economic Mission trip led by Choose New Jersey and featuring Gov. Phil Murphy is intended to help the governor pitch the state’s assets to numerous business and elected officials — particularly those connected to the TV/film, fintech and artificial intelligence sectors — to see how Canada can better play in the state.
But, that doesn’t mean the governor and the nearly three dozen delegates are going to pass up a chance to see how Jersey plays in Canada.
Sunday night, the delegation will do that at the Toronto International Film Festival, where it will see the world premiere of the documentary, “Road Diary: Bruce Springsteen and the E Street Band,” produced by longtime Springsteen collaborator Thom Zimny.
The documentary is said to offer an unprecedented, behind-the-scenes access to the E Street band’s 2023-2024 world tour. It aims to present the most in-depth look ever at the creation of the band’s famed live performances — including fly-on-the-wall footage of band rehearsals and special moments backstage, as well as testimonials from Springsteen himself, talking about the history of the legendary Jerseyan and his band.
It just so happens that the film premiers the same day the delegation arrives.
The schedule
What’s happening Sunday
- Morning flight from Newark to Toronto
- Trip opening lunch (at Earl’s Kitchen + Bar)
- New Jersey reception at Toronto International Film Festival
- World premiere screening at film festival: “Road Diary: Bruce Springsteen and the E Street Band”
What’s happening Monday
- Country briefing with official from U.S. Consul General office
- Event at JLabs@Toronto, Johnson & Johnson’s life science incubator located at MaRS Discovery District
- Visit to Vector Institute for Artificial Intelligence
- Roundtable with American Chamber of Commerce members
- Flight from Toronto to Montreal
Strictly business
Canadian commerce
Canada is New Jersey’s No. 1 export market, buying a fifth of all the goods New Jersey sells to the world. The Garden State exports more to Canada than it does to its next two largest foreign markets: China and the U.K.
Top goods exports:
- Metals and mining: $1.5 billion
- Chemicals and plastics: $1.1 billion
- Medical and pharmaceuticals: $480 million
Top services exports:
- Business and professional: $611 million
- Technology and equipment: $280 million
- Financial and insurance: $208 million
Ontario insights
The province of Ontario has Canada’s largest economy, contributing approximately 38% of the country’s Gross Domestic Product. The province has a diverse economy, with significant strengths in manufacturing, finance, technology and natural resources. It is projected that Ontario’s real GDP will experience a growth trajectory of 0.5% this year, followed by an increase of 2% in 2025 and 2.8% in 2026.
Ontario also is the most populous province in Canada, with a population of around 14.7 million people as of 2023. (Approximately 3 million live in Toronto.) The province is highly multicultural, with a large proportion of immigrants and a wide range of ethnic communities.
Toronto company with strong presence in N.J.
TD Bank: Its full name is Toronto-Dominion Bank, and it is the state’s leading SBA lender. TD, which makes its U.S. headquarters in Cherry Hill, operates more than 125 branches in New Jersey, giving it a strong presence in the state.
TD had $1.9 trillion Canadian in assets on July 31, 2023 (that’s $1.4 trillion). TD also ranks among the world’s leading online financial services firms, with more than 16 million active online and mobile customers. It trades on the Toronto and New York stock exchanges under the symbol “TD.”
Fun and games
Famous females from Ontario
We’re big fans of Catherine O’Hara (though we think of her from Second City more than “Home Alone” or “Schitt’s Creek”), Nelly Furtado and Lilly Singh. We applaud Bianca Andreescu’s U.S. Open title (over Serena Williams). And we acknowledge Meghan Markle (insert your own line here). But, at the top of our list is “The Notebook,” “Wedding Crashers” and “Mean Girls” star Rachel McAdams (perhaps just to keep us out of the Burn Book).
Devil of the Day
It’s Canada, so we’re talking hockey. We salute a New Jersey Devils fan favorite for his hard-working attitude and effort. Toronto native John Madden helped the team win two Stanley Cups with his unselfish play (he’s the franchise’s only Selke Award winner) and a knack for scoring shorthanded goals (he has 17, including a club-record six in 1999-2000).
Quote of the Day
“This was much better flight.”
— Everyone in the delegation who was on the previous trip, to East Asia, a 14-hour flight … or 13 hours longer than the quick trip to Toronto
