Leading cities in Canada flourishing in tech industry, says CBRE study
Canadian cities are some of the best for attracting tech talent, according to a recent report from CBRE.
CBRE’s annual “Scoring Tech Talent” study has highlighted Toronto as North America's fastest-growing technology market, with Business Chief only this week reporting LG's plans in the city.
Toronto added 26,900 tech jobs in 2017, which was the most of any other city in North America. It is also the third most concentrated tech market, with 8.9% of workers employed in the sector.
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Ottawa is also making headlines and has the largest concentration of tech talent in the group of cities surveyed at 11.2%. Montreal and Vancouver are also recognised to have harbourned significant growth.
"Relative to the U.S., Canada is a cost-effective place for technology companies to operate," said CBRE Canada executive managing director Paul Morassutti. "But cheap alone is not what determines where these companies locate. We have an incredible talent pool in Canada, which means that the quality-to-cost ratio is very high here.
"An ecosystem forms and you have companies that collaborate and compete with each other. In doing that, they accelerate the innovation process and it becomes almost a snowball effect."