Calgary's growing tech sector turning heads

Calgary tech industry is among the highest in Canada in terms of growth, says a new report released on Wednesday.

Coldwell Bank Richard Ellis's (CBRE) Tech-30 2022 report ranked the top 30 leading technology markets in the U.S. and Canada, as well as 10 up-and-coming sectors.

On the 'Markets to Watch' list, Calgary placed third overall.

CBRE says the city has a tech workforce of approximately 33,200 people, which represent 19.1 per cent of office jobs in Calgary.

"The Tech-30 report confirms that Canadian cities continue to produce and attract some of the best and brightest tech workers in the world," said CBRE Canada vice-chairman Paul Morassutti in a release. "While there is a lot of uncertainty swirling around, we can take some comfort knowing that our economy is underpinned by a robust and innovative tech workforce."

Waterloo, Ont., and Ottawa took the number one and two spots respectively.

ALBERTA'S 'WINNING COMBINATION'

The Alberta government is excited about the interest in Calgary that many billion-dollar companies have shown.

"This is the best place in North America to set up shop. We have the best tax regime, we have access to a very well-educated workforce, we have a great quality of living, we have a great cost of living relative to other major centres in Canada and the U.S.," said Alberta's Technology and Innovation Minister Nate Glubish in an interview with CTV News on Wednesday.

"This is a winning combination."

Glubish says the government has created a number of policies to ensure the province is a "destination of choice" for investors in the technology sector.

"We focused on recapitalizing the Alberta Enterprise Corporation, which is a venture capital fund, with at $175-million commitment over, I believe, three years," he said.

"Alberta Enterprise has a great track record – for every dollar invested, they bring over five dollars of investment into Alberta-based tech companies. It's an enormous multiplier effect."

Glubish says the government has also focused on developing Alberta's tech talent, through investments in post-secondary education.

"This report is another piece of evidence that there has never been a better time than today to be in the tech industry in Alberta. Alberta's future in the tech industry is very bright," Glubish said.

"That momentum is continuing to build."

Meanwhile, some of Canada's major centres were also recognized – Vancouver and Toronto recorded the most high-tech growth in 2020 and 2021 combined, CBRE said.

CBRE's Tech-30 report measures the industry's impact on office demand and rents in the 30 leading tech markets in the U.S. and Canada, as well as select tech-heavy submarkets.

The company says its findings have determined that despite the pandemic, more than two-thirds of the top 30 North American tech markets registered office-rent growth.