Toronto beats out Silicon Valley in tech job creation over past 5 years: report

Toronto created more than 82,000 technology jobs from 2012 to 2017, which is more than the nearly 78,000 added in the San Francisco Bay Area over the same time period, according to a new report.

The CBRE Group’s Top-Ranked and Momentum Tech Talent Markets report also ranked Canada’s largest city fourth overall in “Tech Talent,” behind only the San Francisco Bay Area, Seattle, and Washington, D.C.

The CBRE determined the top-ranked talent markets by 13 metrics measuring each market’s “depth, vitality and attractiveness.”

Part of the tremendous growth in tech jobs within Toronto could be attributed to cheaper labor, a well-educated workforce, and the cost of real estate.

A Bloomberg article gives an example of a 500-employee company requiring 75,000 square feet of office space. Total annual costs for such an office in Toronto would be $30.2 million (U.S.), the article states. By comparison, it would cost tech firms in the Bay Area up to $57.4 million for a similarly sized office space.

To see the full report, visit here.

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