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

Contacts:
Media Contact:
Cindy Pearson
T: 604-602-5234
E: [email protected]

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
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...