Tech is where it’s at. Job-wise in the Okanagan, that is.
According to a study commissioned by Accelerate Okanagan, the tech sector has contributed $1.67 billion to the regional economy with nearly 700 businesses and more than 12,000 jobs. Further, the tech sector’s year-over-year economic growth since 2013 has been pegged at 15 per cent.
“We are excited by the consistent growth indicated by the findings in this report,” said Raghwa Gopal, CEO of Accelerate Okanagan. “This study provides 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.”
The study says there are 693 technology businesses currently operating in the Okanagan, a 24 per cent increase since the first survey in 2013. Those companies, including home-grown success stories like BananaTag, Yeti Farm, Piscine Energetics, employ a total of 12,474 workers.
Raghwa Gopal, CEO of Accelerate Okanagan, talk about the tech sector study on Thursday.“We were interested to see that the Okanagan’s tech workforce is getting younger, and that contract workers make up more than 15 per cent of those working in the sector,” said Gopal. “We believe this reflects the growing gig economy, as well as the appeal of living in the Okanagan.
“Many members in the gig economy can live anywhere, and they’re choosing to live and work here.”
WATCH BELOW: CEO of Accelerate Okanagan tells Global News about the results of a recent study looking into the Tech Sector in the Okanagan, and the news is good.
The study also said lifestyle was named in No. 1 advantage of operating a tech or tech-enabled business in the Okanagan. Specifically, 81 per cent of respondents named lifestyle as an advantage, while climate and commute time were selected as the second and third biggest advantages.
Challenges associated with living in the Okanagan were a small talent pool, distance to clients and cost of living.
“The goal of this survey was not just to quantify economic impact and celebrate our sector’s many successes, but also to take the pulse of the Okanagan technology community,” said Gopal. “Learning about what’s challenging the companies operating here — and working to address and overcome those challenges — is vital to ensuring that the tremendous growth we’ve seen continues into the future.”
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