A new study finds the Okanagan’s tech sector is booming.
Acclerate Okanagan says the industry is estimated to contribute 1.6 billion dollars to the region’s economy.
“We commissioned the 2017 Economic Impact Study in conjunction with the Central Okanagan Economic Development Commission, and the results indicate that the Okanagan region’s technology sector is booming,” says the report. “In fact, the report has lots of good news for the Okanagan economy, including year-over-year economic growth of 15% since 2013. The tech sector is estimated to contribute $1.67 billion to the region’s economy.”
There are close to 700 tech businesses in the valley, employing over 12,400 people, up 64% over 2015.
“We are excited by the consistent growth indicated by the findings in this report,” says Raghwa Gopal, CEO of Accelerate Okanagan. “They’re proof of what those working in the Okanagan tech sector have long known: big things are happening here, and we’re just getting started. The Okanagan is ripe with potential for entrepreneurs of all kinds.”