As per a report published by the Technology Councils of North America (TECNA) and Canada’s Tech Network (CTN), which delved into the global dynamics and movement of tech professionals within Canada, Waterloo Region has maintained its reputation as a top-tier destination for tech talent in Ontario.
From April 2022 to March 2023, a total of 32,115 workers migrated to Canada, and Ontario emerged as the leader in attracting tech professionals.
Waterloo Region observed an influx of 1,070 tech workers, ranking second only to Mississauga, which welcomed 1,900 tech professionals during the same period.
The unveiling of Canada’s inaugural Tech Talent Strategy by the Honourable Sean Fraser, Minister of Immigration, Refugees and Citizenship, underscores Canada’s commitment to nurturing tech excellence.
Already a vibrant tech nucleus, Waterloo Region is poised to benefit immensely from the strategy’s progressive measures.
This strategy includes a focus on attracting global talent, fostering innovation, and streamlining immigration procedures aligns seamlessly with KW’s trajectory.
Yvonne Pilon, vice president of TECNA, said the report is an important step in supporting the growth of the technology economy in North America.
“Our goal at TECNA is to serve as the collective voice of the regional tech hubs and tech associations we represent to help build the North American technology economy,” Pilon said.
“Given the radical shortfall in tech workers to fill available jobs in recent years, it’s imperative we understand migration movements to better serve our members, the innovation workforce, and the broader technology ecosystem,” she said.
A testament to Canada’s competitiveness, the report highlights a net loss of only 1,672 tech workers to the U.S., considering the scale of populations and tech workforces. Canada remains an alluring destination, gaining American talent from the Northeastern states and major U.S. cities like Washington D.C., Boston, Chicago, and Philadelphia.
The allure extends beyond borders, where the average compensation for U.S. tech occupations stands at $175,600 CAD ($133,500 USD), while in Canada, it’s $100,400 CAD ($73,897 USD),.
Building upon this dynamic foundation, Canada’s tech industry is rapidly growing.
The recent industry outlook report from BDC, along with insights from the data report, strengthens Canada’s position as a strong player in the tech field, even competing with its counterparts in the southern regions.