We love to hear how our neighbouring regions are leveraging technology to grow their economies. It’s so exciting to see how a healthy and growing tech sector is impacting greater economic development – as we believe it inevitably does!
Last year, Accelerate Okanagan commissioned the 2017 Economic Impact Study in conjunction with the Central Okanagan Economic Development Commission (COEDC) and the results indicate that the Okanagan region’s technology sector is booming. In fact, the report has lots of good news for the Okanagan economy, including the year-over-year economic growth of 15% since 2013.
The tech sector is estimated to contribute $1.67 billion to the region’s economy.
There are now 693 technology businesses operating in the Okanagan, which represents a 24% increase since the first survey was conducted in 2013. Those companies, including home-grown success stories like BananaTag, Yeti Farm, Piscine Energetics, employ a total of 12,474 workers.
“We are excited by the consistent growth indicated by the findings in this report,” says Raghwa Gopal, CEO of Accelerate Okanagan. “They’re proof of what those working in the Okanagan tech sector have long known: big things are happening here, and we’re just getting started. The Okanagan is ripe with potential for entrepreneurs of all kinds.”