Tech Talent Pool in Toronto Expanding Faster than Ever

Toronto now ranks as North America’s fourth largest tech talent market, with over 212,000 workers, an increase of 32% over the past five years

Toronto

Toronto’s technology talent pool is growing like never before, according to the latest index by CBRE, a US professional real estate firm.

The study has found that the Canadian city now ranks as North America’s fourth largest tech talent market, with over 212,000 workers, an increase of 32% over the past five years.

The city added 22,500 tech jobs between 2015 and 2016, more jobs than New York and San Francisco Bay area combined. A growing population of millennials has been a major contributor to this growth, which has been a major draw for multinationals setting up shop in Ontario.

“Toronto is becoming a leader in producing a world-class tech talent, particularly in the artificial intelligence field,” commented Werner Dietl, executive vice president and GTA regional managing director of CBRE Canada.

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The report also found that Toronto is the second-cheapest market in North America for tech firms to run operations. The estimated cost of running a 500-person company in Toronto, taking into consideration both talent and real estate costs, totaled US$25.9 million, far lower than the cheapest US market of Oklahoma City at US$33.9 million.

“Toronto remains comparatively cheap for both talent and real estate costs when compared to major markets such as New York, San Francisco and Boston,” Dietl added.

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