BC Technology Sector
The British Columbian tech sector has grown into a hotbed for talent and economic growth. Over the past decade, BC tech has been the fastest growing industry in the province and currently accounts for 26 billion in annual revenue. Just a few months ago, Amazon committed to expanding its Vancouver office by adding over 1,000 jobs in the next 10 years.
BC’s rapid tech expansion, in combination with the political landscape in the United States, could mean more job openings and opportunities to come. With over 90,000 employees, the tech industry already employs more people than oil and gas, forest and mining industries combined. For years, politicians and high-level executives have been pushing for a more efficient process to obtain new talent abroad. Companies are finding new ways to lure talent to the beautiful west coast, with desirable working conditions and quality of life.
Slack’s Vancouver office: Photo via Betakit https://betakit.com/an-inside-look-at-slacks-renovated-vancouver-office/
What does all of this mean heading into 2018? As demand for corporate expansion increases and the need for high-quality workers grows, we could see increased government intervention to aid the process. The average salary for a BC tech employee is 75% higher than BC’s provincial average; earning an average weekly salary of $1,590. Will demand outweigh supply? Will wages rise even more? Will the BC NDP party take action to match the rapid growth?
Plugged In Podcast
14 Oranges CEO and founder, Sylvain Marcotte, has been in the BC tech sector for a number of years. Sylvain shares some of the challenges small businesses face in BC and what to expect for the future. Check it out below in the latest edition of BCIT’s Plugged In Podcast.