Canada’s largest city is working hard to earn the title of Silicon Valley North.
Driving the news: Toronto added the most tech jobs of any North American market from 2018 to 2023, according to the latest tech talent ranking by real estate firm CBRE. This year, Toronto moved up to fourth on the list, behind only the Bay Area, Seattle, and NYC.
Why it’s happening: Toronto has been well-positioned to capitalize on the booming demand for AI skill sets. The city is crawling with AI talent thanks to the city’s historic ties to the field, which has led to world-class AI education programs and superstar startups like Cohere.
- A report last year by Deloitte found that Canada has the highest concentration of AI talent anywhere in the world.
Zoom out: Little ol’ Ottawa also cracked the top 10, and Calgary moved up to 17th place. However, others like Montréal, Ontario’s Waterloo area, and Vancouver — which saw a tech-sector exodus this June — all fell a few spots.
Why it matters: The tech sector now accounts for over 6% of the country’s workforce. And it might end up accounting for even more if it keeps adding jobs while the rest of the private sector takes a break from hiring.—QH