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94 EC1


TD’s Economic Contribution


As a major employer, purchaser, taxpayer and financial services provider, TD’s role in the economy is extensive. The most direct contribution comes through maintaining a strong business with solid earnings, which allows us to pay employees and suppliers, contribute taxes to govern- ment revenues and provide dividends to our shareholders.


The global numbers above help tell the story of TD Bank Group’s direct value, but we wanted to explore TD’s indirect contribution to the economy. Because our methodology is based on modelling from Statistics Canada, the analysis below refers only to Canada.


Direct Economic Value Generated in 2013 (in millions of dollars)


2013 Revenue 2013 Distributed Value Operating costs1 $27,262 1


Salaries and benefits Taxes


Cash dividends Community giving


$4,279 $7,622 $869


$2,647 $74


Economic Value Retained


$11,771


Operating costs include occupancy, equipment, marketing, professional services and communications. Refer to the 2013 consolidated financial statements for more information.


Analysis From TD Economics


TD helps support the Canadian economy and job market through direct and indirect channels. The direct channels reflect TD’s actual hiring and spending. TD pumped $5.7 billion into the economy via its purchases of goods and services. If part-time positions are combined into their full-time equivalent, TD employed a total of 57,000 Canadians and paid $7.6 billion in salaries and benefits. TD also provided shareholders with $2.6 billion in cash dividends.


TD also positively contributes to the Canadian economy through indirect channels. First, part of the salaries and dividends gets spent within Canada, generating demand for Canadian businesses. TD’s spending also generated knock-on effects, which would have led to increased economic activity and hiring among other industries.


Overall, it is estimated that in 2013 TD helped support a total of 109,587 full-time equivalent jobs and generated $12.3 billion in economic activity within Canada, both directly and indirectly.


Sources: TD Bank Group 2013 Annual Report and Statistics Canada.


TD’s Impact on Canadian Full-Time Equivalent Jobs in 2013


TD’s Impact on Canadian Economy in 2013


Indirect Direct Total


63,521 52,497


109,587


Indirect Direct Total


$4.0 Billion $8.3 Billion


$12.3 Billion


TD 2013 Corporate Responsibility Report


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