Certain Canadian markets had some of the highest tech-job growth in North America through 2020 and 2021, according to data released by CBRE through its Tech-30 report.
Vancouver saw 44% growth, placing them first on the continent. The BC city was followed by Toronto at 37%. In third came the first US city—Austin, Texas at 25%.
“Vancouver had the highest high-tech job growth at 44% and Toronto created the most jobs (60,000) over the past two years,” the report notes.
CBRE believes that the tech sector may continue to outperform other sectors regardless of market challenges.
“Tech industry job growth remains well above the national average,” the report states. “Economic headwinds in the year ahead likely will slow but not end high-tech job growth.”
While Calgary did not crack the Tech-30 list, the region was identified by CBRE as a Top 10 Market to Watch.
Calgary is home to one of Canada’s largest technology and startup hubs, employing 33,000 people in tech. Despite a “notable impact” of the Covid-19 Pandemic on Alberta’s economy, the province’s digital economy “remained resilient and thrived,” concluded a recent report from the Information and Communications Technology Council of Canada.
From February 2020 to May 2022, participation in Alberta’s digital economy grew by nearly 18%, according to the report—titled A Resilient Recovery: Alberta’s Digital-Led Post-COVID Future.
There are now more than 2,800 technology companies in Alberta as of last year, according to research from PwC. This is a massive increase from 2016, when just 1,500 were counted. And in the first quarter of 2022, Alberta experienced its highest quarterly investment on record, according to data from the Canadian Venture Capital Association.
Market to watch, indeed!