Toronto ranks as number 3 city in North America for tech growth
Toronto just got named third in North America when it comes to tech growth, while our pals in Vancouver came in first. That’s right folks, you’re going to be seeing so many puffy vests and sensible khakis that it will make your head spin. Should we give up learning French? Is it time to learn Java instead?
According to the CBRE, it probably is. Both cities reported over 20% growth these past two years in the ‘high-tech job sector’. What’s high-tech, you ask? Basically anything software related that’s not biotech, media or design, plus a couple of other things.
Anyway, both cities beat out Seattle, Silicon Valley, and New York when it came to the tech explosion. The only city that beat out Toronto was- surprise, San Francisco. Fair enough- it seems like San Fran has transformed into the tech mecca of the US.
One other Canadian city made the list- Montreal came 14th, with a modest 11.4% growth.
What does this all mean? Well, aside from higher rents, it can also lead to a more stable workforce that injects capital into the city. It also attracts more and more high-skill workers to the area.
But we’re not economists, so you might want check out the report for yourself.