The
Nanaimo Economic Development Corporation (NEDC) in collaboration with Innovation
Island released an Economic Impact Analysis of the Nanaimo Region Technology
Sector today. The NEDC commissioned Nordicity, a respected research firm, to
undertake this impact assessment. The rationale for undertaking this report was
to create an up-to-date inventory of businesses, data and economic impact
analysis of Nanaimo’s tech sector in order to support further industry
development, help drive increased collaboration and foster more household
sustaining jobs in our region.
“The
Nanaimo region has a vibrant and growing tech community,” said Sasha Angus, CEO
of NEDC. “We are very encouraged that the companies in this sector see our
region as a great place to develop and grow their businesses, with a competitive
business environment and great quality of life for their
employees.”
Nanaimo
and Region is home to an estimated 350+ businesses that drive the region’s
technology industry. In 2012 they generated $204.1 million in revenues, and had
sector-related expenditures of $155.2 million. The technology sector had a total
GDP impact of $199.0 million and a total household income impact of $133
million. With a total employment impact of 2,730 jobs, this sector generated
$19.7 million in taxes. For every $1 million in industry output, the tech sector
generates 14 jobs in the region.
This
newly released economic impact report also includes vignettes featuring several
of Nanaimo’s most innovative technology companies. The above figures can be
found at www.InvestNanaimo.com/Technology
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