Ottawa Tech Sector Sets Employment Record in New Economy

OTTAWA, ON--(Marketwired - March 29, 2016) - After an extensive survey of the local knowledge-based business community, Invest Ottawa has concluded that the National Capital Region has achieved a level of jobs previously unseen. Today, Invest Ottawa reports over 1700 knowledge-based businesses providing over 68,000 jobs.

This count also includes 1430 knowledge-based companies which have less than 50 people. These are the start-ups that are usually less than five years old and will set the stage for future growth as we continue to support this sector.

"In recent years, the City of Ottawa has renewed its focus on creating the right atmosphere for our knowledge-based sector to prosper," said Mayor Jim Watson, co-chair of Invest Ottawa. "This is yet another validation of Ottawa's reputation as the best place to launch and grow a business."

Ottawa has long been known for its technology talent which is why many of the world's top technology companies have selected Ottawa to set up shop including longstanding global brands such as IBM, Nokia, Ericsson, Ciena, and Cisco. They are all searching for the best talent which Ottawa continues to attract. The city recently scored A+ and -A in the Martin Prosperity Institute's (MPI) Talent and Technology scorecards, respectively.

Anchored by sixty-five Federal research labs, four world-class, post-secondary institutions, with over 120,000 students and a growing spirit of entrepreneurship; the city is well-positioned to continue this momentum and become a driving force of wealth and job creation. By 2019, the Information and Communications Technology Council (ICTC) expects an additional 10,000 knowledge-based jobs to be created in Ottawa.

"Ottawa is home to a vibrant and rapidly growing ICT sector that is increasingly leading and reshaping various facets of the digital economy in Canada. At a 1% jobless rate for high-demand ICT occupations, Ottawa is well poised to compete and attract the best digital talent," said Namir Anani, President & CEO of the Information and Communications Technology Council.

The next generation of home-grown innovation powerhouses including; You.i TV, Lixar, Klipfolio, PageCloud and hundreds of others complement other local superstars such as; Ross Video, Halogen Software, Kinaxis and Shopify. Over the last five years, Ottawa knowledge-based companies have raised more money through IPOs than all the technology companies in all other Canadian cites combined.

"In recent discussions with over fifty knowledge-based Ottawa CEOs, most of them told me that they had open job requisitions, with plans to grow their head count significantly in the next twelve months and beyond," said Bruce Lazenby, President and CEO of Invest Ottawa. "If there was ever a time to consider Ottawa as your top job search location, it is now."

Additional Information:
The local technology sector has undergone dramatic changes over the last two decades. A large number of the roles in the late 1990's and early 2000s were more electronic component and manufacturing based. Unsurprisingly there are fewer of these jobs in Canada today as reported by Stats Canada using their North American Classification System (NAICS). Today, Ottawa's exports are part of the new knowledge-based industries, with a concentration in software, digital media, life sciences and other "new-economy" companies. 

Invest Ottawa (then OCRI) last released a jobs report in 2011. It then included knowledge-based "support" companies like lawyers and accountants that serviced solely technology companies. Removing those companies reveals 62,400 knowledge-based jobs and 1450 companies at that time. 

About Invest Ottawa
Invest Ottawa delivers economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the best place in Canada to start and grow a knowledge-based business. Invest Ottawa services include startup incubation and mentorship, acceleration for existing companies, global business attraction and local business retention, targeted sector development, commercialization, and marketing Ottawa's diversified economy and high quality of life.

For more information on programs and services, please visit www.investottawa.ca