Welcome!

News Feed Item

BC Tech Sector Shows Continued Economic Growth

Growth in Mid-Size Firms; Wages and Salaries Hit New High

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/14 -- A report released today by BC Stats, shows that British Columbia's technology sector continues to make progress as provincial economic leader.

The report outlines how our sector has grown in a number of areas, and has remained steady, against the economic headwind that we've faced for the past five years. With the US market finally gaining strength, the Canadian dollar rebalancing around 90 cents US, new trade opportunities in Europe and Asia, and continued domestic opportunities around natural resources and infrastructure, we're well positioned for even greater growth.

With industry revenues exceeding $23 Billion in 2012, the BC technology sector employs over 84,000 in 9,010 companies. With an average weekly wage of $1,440 per employee, a notable 65% higher than the average wage in BC of $870. Engineering Services, the industry segment with the highest wages, has an average weekly wage of $1,990 ($103,480 annually).

"The BCTIA is heavily invested in the delivery of capacity-building initiatives for our companies, and while there is certainly more to do, we're very pleased with the progress of our industry in such a short period of time," stated Bill Tam, President and CEO of the BC Technology Industry Association (BCTIA).

While BC has a vibrant start-up tech community, 253 new companies in 2012 alone, it has traditionally lacked in the number of mid-sized technology companies (50 to 499 employees). This mid-sized company segment experienced a 14% growth to 376 companies between 2009 and 2012.

Of interest to those working in, or considering a career in the technology sector, is the continued growth in salaries. The average annual salary of tech workers grew to a new high of $75,000, far above the BC average of $45,000 and for the first time, the average BC tech wage now rivals that of Ontario and is higher than the overall Canadian average.

"The BC technology industry continues to outpace overall provincial growth, making the sector an even larger part an increasingly diversified and resilient provincial economy," noted Ken Peacock, Chief Economist and Vice President of the Business Council. "This ongoing expansion is especially welcome because the sector's high wages and purchases of inputs from other local industries results in large spin-off economic benefits within the province."

For more information, and to access the BC Stats report, visit: www.bctia.org/Blog/2014/4/3/The-Voice

About the BCTIA:

Officially incorporated in 1993, the BC Technology Industry Association (BCTIA) is a not-for-profit organization that supports the development, growth, and advancement of technology companies located in British Columbia. Our Mission is to help companies grow and build world-class organizations -- global leaders that serve as inspiration for entrepreneurs in our community, and as anchors in a vibrant, fast-growing tech ecosystem.

We support tech companies at all stages of growth and development - from startups to rapidly-growing mid-sized companies, and large global players. The BCTIA works to improve British Columbia's competitiveness and visibility by advancing the development of BC's tech powerhouse - an industry of over 9,000 companies that employs more than 84,000 skilled professionals. http://www.bctia.org

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...