Tech related jobs account for 400,000+ jobs that are above average pay and the sector has been growing at twice the rate of overall jobs.
We conducted this study to show the impact technology has had on the Toronto economy and suggest ways we can make it easier for the technology ecosystem to continue to prosper and grow. For the purpose of this report, Toronto is defined
as comprising of Toronto, Peel and York census divisions.
All figures in Canadian dollars.
Toronto has the greatest tech presence in Canada as tech jobs found in all sectors of the economy, including traditional industries like manufacturing, natural resources and finance.
The tech ecosystem has been outpacing primary Toronto industries such as finance and manufacturing when it comes to job growth.
A unique set of factors in the city have combined to spur this growth. This speaks volumes about the importance of Toronto as a national tech hub.
This represents 17% of all the compensation paid in the city in 2015, compared to 15% of the city's employment.
Over the last few years, technology and entrepreneurship have been studied, talked about and promoted as the saviour to all that ails our economy. It’s said that they will create the prosperity and jobs we need to keep Toronto a vibrant world-class city.
We at TechToronto believe the above to be true, but we also believe the average Torontonian doesn’t realize technology has already changed our economy to a great extent. The Internet, mobile technologies, wearables, big data and machine learning have created thousands of new companies and jobs in Toronto. While traditional industries that have powered our economy have shrunk, technology has grown.
This study was inspired by the methodology of The New York City Tech Ecosystem: Generating Economic Opportunities for All New Yorkers, which was unique because it included all jobs from tech industries as well as tech occupations in non-tech industries.
Identify the tech ecosystems importance to our economy.
Build awareness of the contribution the tech ecosystem has already had to the local economy.
Help start the conversation around the progress of the support for the tech ecosystem by our public policy leaders and the general public.
We hope you find this report useful, and we would like to thank the following people for making it happen.
PwC Canada has been powering Canadian technology right from the start. With more than 6,500 partners and staff in locations across the country, PwC helps Canada’s top technology companies identify and achieve their potential.
Thank you to Jesse Albiston for managing this project, Adam Thorsteinson for contributing the economic analysis, Burzin Contractor, Cassandra Ruggiero, Laura Hildebrand and all the other PwC members who made this report possible.
Emsi, a CareerBuilder Company, is a leading provider of employment data and economic analysis. TechToronto used Emsi’s Analyst tool to estimate the size of the Toronto tech ecosystem and its associated wages, educational requirements and
Thank you to Jordan Vukanovich, Brendan O'Neill and Josh Wright for their support and economic data expertise.
At the University of Toronto and the Munk School of Global Affairs, they believe that the world needs better public policy and better governance. Citizens of all countries deserve greater security, wider opportunity, and the chance to
lead healthy and fulfilling lives.
Thank you to Travis Southin of the Innovation Policy Lab at University of Toronto’s Munk School of Global Affairs for contributing to the research and policy analysis in the report and David Wolfe, Co-Director of the Innovation Policy Lab, for providing advice and input to the report.