The Victoria Innovation, Advanced Technology and Entrepreneurship Council released their findings of their 2023 economic impact study which highlighted the economic contributions and growth of the Greater Victoria tech sector/
Released on June 20, the study revealed an economic impact of over $7.8 billion, a 50.8 per cent increase since the last study in 2017. Additionally, the sector has seen a 19.3 per cent increase in jobs to 20,007, up from 16,775 in 2017.
"This economic impact study shows the real power of collaboration in our tech community. It’s concrete proof that what we’re doing here in Victoria is working. The growth we've seen is incredible, and it underscores the importance of continued support and investment in our sector," said VIATEC CEO Dan Gunn in a news release.
The study also noted an increase in tech sector revenues by 44.3 per cent, and an increase of tech firms in the city from 980 in 2017, to 1,172 today, or a 19.6 per cent increase.
