Toronto is a magnet for high-skilled tech workers under the Start-up Visa program. This program was instituted by the federal government to attract innovative talent from around the world and provide them with an opportunity to establish their own business in Canada. The Start-Up visa enables foreign entrepreneurs who are accepted into this program to have permanent residency status. This blog post will explore how Toronto has been successful as a welcoming place for immigrants and why it’s such a popular destination for tech workers through the Start-up Visa Program. Read on!
A study released by a leading commercial real estate firm reveals that Toronto is the magnet for attracting some of the brightest tech workers in North America.
In its 2021 Scoring Tech Talent report, CBRE again places Toronto high among the top cities for the tech sector. In just five years alone, it attracted 81,200 jobs and produced 26,338 degrees to prove this point – meaning that 54 thousand people have been drawn here because they want to be part of something special.
The Northern Ontario city of Sudbury did not make the list in CBRE’s 2021 Scoring Tech Talent report, but it is home to one “promising” company.
Pointing out that some Canadian cities are on their way up while others see a drop-off in talent attraction and job creation, Toronto was identified as having an edge for being able to attract top tech workers from all over North America.
Among the 50 North American cities in the annual ranking, Ottawa placed 10th, Vancouver 11th and Montreal once again came in at 16. The Waterloo region was ranked 21st, Calgary 28th, Quebec City 34th, and Edmonton 38th.
Toronto is in the top 10 best markets for attracting and retaining talent from among all industries including technology. The city ranked third on their list with 81,200 tech jobs created between 2012-2016 along with 26,338 degrees produced during this period – meaning 54% more people were attracted here than left!
Amazon is hiring in Canada because it appreciates the country’s open-door policy and easy access to tech talent. They will hire 1,800 new employees this year alone for their retail and operations technology teams in Vancouver and Toronto. This means they are committed to integrating themselves into Canadian culture as well by developing relationships with local customers through large brick-and-term retailers such as Walmart or Costco – both of which have a presence on amazon’s website already.
Toronto is an international hub for technology and innovation
With a diverse population of over 2 million people, Toronto has recently emerged as one of North America’s most attractive destinations to find new talent in this business-friendly environment that offers affordable living costs with quality education opportunities. The report by CBRE Research set Toronto top among all other cities when measuring depth, vitality, and attractiveness factors.
The research arm of CBRE used 13 metrics to measure each market’s depth, vitality, and attractiveness to tech employers including the availability of talent (Toronto ranks first), quality labor forces (second), or gross operating costs(third). This modernized economic powerhouse currently fosters Canada’s third-largest GDP at USD 3 trillion per year while being ranked second.
Toronto is becoming a global hub for entrepreneurs, immigrants, and start-ups. This can be seen in the CBRE report which called Toronto’s “brain gain” the second largest migration of talent to an international city outside of Silicon Valley. The Start-up Visa Program has been designed to help entrepreneurs from around the world start their own business in Canada by creating a pathway to citizenship that includes no minimum investment requirement or net worth requirements and addresses barriers such as language skills and education credentials.