Why Vancouver Is Today’s Tech Hub
Home to the fastest growing economy in Canada, Vancouver must be doing something right. And the world’s tech industry agrees.
Tech giant Microsoft recently made an estimated $90 million investment in Vancouver with a 142,000 square feet development centre, housing Xbox One, Office, and MSN offices. Amazon and Facebook are opening offices in Vancouver near homegrown tech leaders like Hootsuite, Cymax, and Slack.
What’s Vancouver secret sauce for becoming an international hub for technology?
1) One of the World’s Best Places to do Business
This past March, international professional service company KPMG released its Competitive Alternatives Report that described the competitiveness of 30 major global cities. KPMG examined the labour costs, transportation systems, taxation rates and other business factors to determine what cities were best for companies.
Impressively, Vancouver ranked 5th among cities with the lowest costs for companies, and outperformed Seattle, San Francisco, and all other U.S. west coast competitors. Compared to Toronto and Calgary, Vancouver ranks first in international financial services, and its low corporate taxes lower encourage companies to remain in the city.
Especially for tech start-ups, mid-size companies, and established enterprises to stay competitive, it’s critical to be located where economic conditions are positive.
2) Location Matters
Vancouver’s geographic location on the West Coast makes it a global gateway to Asia. Technology professionals from China, Japan, India, and other countries in southeast Asia find welcoming communities thanks to decades of immigration. Such a diverse workforce enables a company to appropriately market and sell its products around the world plus collaborate with teams in other countries.
Further, Vancouver’s time zone overlaps the working hours of both Europe and Asia.
Vancouver’s reputation as a vibrant, cosmopolitan hub with world-class amenities, incredible outdoor activities, and health-conscious citizens – plus mountain views from almost anywhere in the city – attracts and keeps the top tech talent.
3) Highly-Educated Workforce
Young, smart, and eager software engineers and programmers hone their skills and gain the latest education at the University of British Columbia, University of Victoria, BCIT, and Simon Fraser University. Companies grow quickly and deeply by bringing on new (and experienced) local talent, many possessing valuable connections and experiences from the area.
4) Thriving Tech Ecosystem
Funding from local venture capitalists makes possible a dynamic tech ecosystem of companies at different growth stages and sizes. In that connected and supportive network, Vancouver’s tech companies find resources, partners, and strategies for succeeding in the global marketplace.
Companies and organizations working outside of the traditional technology space create opportunities for the high-tech sector too. Government, tourism, healthcare, and natural resource development, not to mention clean technology, green energy, and sustainability-focused companies, call upon the expertise of the tech sector.
Signature Recruiting is proud that our professional IT recruitment services contribute to Vancouver’s status as a world-class tech hub.
Send us a message if you want to learn more about joining this community.