The Okanagan’s technology sector is easily on pace to become the valley’s biggest industry, according to a new study conducted by Accelerate Okanagan.
“The numbers now actually validate the hype,” said Raghwa Gopal, Accelerate Okanagan CEO.
It’s growing faster than the provincial average, with local revenues booming by 30 per cent with a $1.3-billion economic impact since 2013.
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In the past two years the local technology workforce has grown by 16 per cent, with more than half of workers under the age of 35.
“We all know Kelowna for a long time has been a haven for retirees. We love the many social and economic benefits that come with this demographic group,” said Kelowna mayor Colin Basran.
“But we’re also happy to see an influx of young professionals like we have not seen ever [before] in our community.”
According to the study, the biggest advantage of working in the Okanagan was the lifestyle and the biggest downfall, a small talent pool.
There are currently 633 tech businesses in the Okanagan. More than half are based in the central Okanangan.
Okanagan Tech Sector Economic Impact Study 2015 Edition by Lauren on Scribd
-with files from Neetu Garcha