After adding an impressive 80,100 tech jobs between 2013 and 2018, Toronto has claimed the top spot for tech employment in Canada, according to a new report.
CBRE has released its latest Canadian Tech Talent Ranking and it revealed that Toronto is far outpacing Canada’s other leading tech centres.
However, the report also revealed smaller cities continue to make strides.
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To make its ranking, CBRE analyzed 20 Canadian cities to create a scorecard that ranks their tech talent offerings.
The scorecard uses 13 metrics to measure each market’s depth, vitality, and attractiveness to tech employers and potential employees, including the availability of talent, quality of labour and gross operating costs.
To generate an overall score, each metric has been weighted by relative importance to companies seeking tech talent.
Toronto claimed the top spot with an overall score of 88.1, followed by Ottawa, Vancouver, Waterloo Region, and Montreal, respectively, to round up the top five spots.
The report revealed that Toronto is home to 228,500 tech workers, which make up 8.3% of the total employment.
Moreover, the addition of 80,100 tech jobs in the past five years was a 54% increase. However, the report also revealed that Toronto’s tech industry continues to be dominated by males, as only 26% of workers are female compared to 76% males.
“Although Canada’s major markets have deep pools of tech talent and are globally competitive, the competition for office space is fierce and tech tenants are having to be decisive and creative when it comes to their real estate,” said CBRE Canada Vice Chairman Paul Morassutti.
“Mid- and small-sized markets are gathering major momentum, because they offer tech firms greater availability of office space, operational cost savings, and untapped talent pools.”
“It says something that the two largest ranking improvements were in Victoria and Oshawa, and the largest venture capital deal was in St. John’s.”