The latest figures from BC Stats confirm jobs and wages in B.C’s technology sector hit the highest levels ever recorded as B.C.’s technology industry continues to grow and thrive.
The sector employs 92,700 people earning a weekly average salary of $1,580 – 75% higher than the average wage in B.C., and higher than the Canadian technology sector average of $1,340/week. The sector employs 4.6% of B.C.’s workforce, more than the mining, oil and gas, and forestry sectors combined – and one of the largest tech sectors in Canada.
BC Stats’ Profile of the British Columbia Technology Sector: 2015 Edition, shows B.C.’s technology sector remains a top provincial performer; growing faster than the overall economy. According to the report, it grew at a rate of 3.3% in 2014, higher than the 2.9% growth observed in the provincial economy.
The new stats underscore B.C.’s supportive business environment and internationally recognized talent pool as an important part of the #BCTECH Strategy to grow B.C.’s tech sector, create jobs and attract significant venture capital.
The #BCTECH Strategy is a key component of the BC Jobs Plan to support the growth of B.C.’s vibrant technology sector and strengthen British Columbia’s diverse knowledge-based economy. The multi-year strategy includes a $100-million BC Tech Fund and initiatives to increase talent development and market access for tech companies that will drive innovation and job creation throughout the province.
In partnership with the BC Innovation Council, the province is hosting B.C.’s second #BCTECH Summit, March 14-15, 2017, with made-in-B.C. tech innovations, thought-provoking keynotes and outstanding networking opportunities. To register or learn more, go to: http://bctechsummit.ca/
Amrik Virk, Minister of Technology, Innovation and Citizens’ Services –
“These impressive statistics reflect the fact that companies are choosing B.C. for our commitment to nurturing tech talent, drive to expand the tech industry across multiple sub-sectors, and attractive lifestyle opportunities. We are committed to making sure technology is available to all British Columbians. I look forward to our continued partnership with industry leaders through our #BCTECH Strategy.”
Shirley Bond, Minister of Jobs, Tourism and Skills Training –
“There has never been a better time to consider a job in the tech sector. With almost 93,000 jobs in the industry – the highest number ever recorded – B.C. is seeing enormous economic opportunity and demand across the tech industry, bolstered by our BC Jobs Plan. These results from BC Stats only reinforce what we’re hearing from the sector: B.C. is the place to enter the job force and build a career.”
Bob Cantwell, president, Boeing Vancouver –
“Boeing Vancouver recently opened a second office in B.C., the Boeing Vancouver labs. Boeing has been operating in the Lower Mainland for 16 years, and again we chose B.C. for our second office because this is where the talent is. Post-secondary institutions in this province are educating the best and brightest workers in the technology and aviation sector, which made B.C. an obvious choice for us.”
- B.C.’s technology sector is growing faster than the overall economy. In 2014, it grew at a rate of 3.3%, a higher rate than the 2.9% growth observed in the provincial economy.
- B.C. outperforms all other provinces in venture capital investment per capita, with $450 million invested in 2015.
- The tech sector produced approximately $25.8 billion in revenue in 2014, a rise of 4.8% from 2013.
- Revenue climbed in both the manufacturing and service sectors, growing 6.3% and 4.5% respectively.
- B.C. has seen a 3.0% rise in the number of new technology companies in 2014, growing to over 9,700 businesses.
- In 2014, the technology sector added $13.5 billion to B.C.’s GDP; contributing 12% to Canada’s tech total.
- Through research and innovation funding, $55 million has been invested since April, 2015 for public post-secondary institutions to undertake 71 research infrastructure projects.
Profile of the British Columbia Technology Sector: 2015 Edition: http://www.bcstats.gov.bc.ca/Home.aspx
Input Indicators of the British Columbia Technology Sector: 2015 Edition: http://www.bcstats.gov.bc.ca/Home.aspx
#BCTECH Strategy: www.bctechstrategy.ca
#BCTECH Summit: http://bctechsummit.ca/
Jobs Plan Update: http://engage.gov.bc.ca/bcjobsplan/economy/progress-reports/