Report: Toronto beats San Francisco Bay area in new tech jobs and New York in 'talent'

Jul 24 2018, 4:56 pm

Forget Seattle, Washington DC, or even the San Francisco Bay area: A newly-released report has found that Toronto takes the top spot when it comes to tech jobs in North American cities.

The findings come courtesy of CBRE’s annual survey, which was released Tuesday morning.

In total, there were 28,900 tech jobs created in the city, which equals over 241,000 workers, or a 52% increase over the past five years.

Put another way, Bloomberg noted in its report that the city “created more jobs than the San Francisco Bay area, Seattle and Washington, D.C., combined last year, while leapfrogging New York in a ranking of ‘talent markets.'”

The report cited a statement from CBRE Canada’s managing director, who said Toronto is “among the best values for tech firms,” due to its “cheaper labour and real estate and a well-educated workforce.”

As an example, the report noted a 500-worker company requiring 75,000-sq-ft (7,000-square-metres) of office space can expect total annual costs to range from US$27.6 million in Montreal to US$32.2 million in Ottawa, with Toronto in the middle at US$30.2 million.

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