With an abundance of tech talent, Toronto earned the #1 spot in Canada and 4th place across all of North America in CBRE’s 2021 Scoring Tech Talent report.
Beating out major U.S. cities like New York and LA, the annual report which ranks a city’s ability to attract and develop tech talent based on graduation rates, job concentration, labour pool size and real estate costs. Rounding out the top four from the report is Washington, D.C., Seattle, and the San Francisco Bay Area at number one.
Gaining the most talent on the list, the report found that Toronto has added more than 81,000 tech related jobs since 2016, producing 54,800 more tech jobs than graduates. This in demand workforce has made Toronto a leading destination for highly skilled tech workers and employers seeking top talent.
Looking at the trends in employment, CBRE stated that over 270,000 people were employed in Toronto tech in 2020, representing 43% growth. Furthermore, Toronto’s millennial population grew by 21% since 2014, adding over 277,000 people to the city. In the area of millennials, CBRE stated “The younger part of this generation has grown up in the internet-connected world and expect an integrated and more tech-enabled working environment. Generally, this well-educated cohort prefers urban living, which has contributed to many revitalized downtown neighborhoods.”
Compared to other sectors the tech industry has remained resilient throughout the pandemic and is preparing for even more high-paced growth as companies across all industries expand their technology services. Toronto’s strong foundation in technology and future growth opportunities keeps the city and the GTA one of our most compelling markets to invest in.