Keeping technology
top of mind. Technology
 Profile
Knowledge-based and high-tech businesses represent the fastest growing components of the North American economy. Technology services companies, new media and Internet technology companies, and environmental technology companies are the five largest sectors in terms of numbers, with the dominant revenue producers appearing to be engineering technology, software, advanced manufacturing, new media Internet technology and information technology. According to the Mid-Island Science, Technology and Innovation Council (MISTIC), Vancouver Island has more than 1,200 high technology firms with total estimated revenues in the range of $1 billion annually.
Advantages
The survey conducted by
Vancouver Island Advanced Technology Center
(VIATEC) also examined specific competitive advantages for high-technology companies locating on Vancouver Island include:
- The beauty and lifestyle of Vancouver Island which attracts the talent needed to develop and operate these firms
- For larger companies staff costs and a less competitive labour market provided advantages, enabling them to reduce staff turnover costs (often as a result of poaching by other firms in more competitive labour markets)
- Access to six post-secondary educational institutions on the Island
- Close proximity to the Lower Mainland
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