Revenues

  • VIATEC posted an article
    The tech sector in Greater Victoria has a total economic impact of $5.22 billion and employs 16,775 see more

    VIATEC releases Economic Impact Study of the Technology Sector in Greater Victoria

    There is a total economic impact of $5.22 billion and the sector employs 16,775 people.

    VICTORIA, BC (October 15, 2018) - The Victoria Innovation, Advanced Technology and Entrepreneurship Council (VIATEC), has surveyed local technology companies and commissioned an independent researcher (Alan Chaffe, senior economics lecturer at the University of Victoria), to collect and analyze the data - releasing a brand new Economic Impact Study. 

    The study shows there has been a growth of 30% since the last study was released in 2013:

    The technology sector in Greater Victoria has a total economic impact of $5.22 billion and employs 16,775 people.

    The tech sector contributes significantly to employment and economic output in both the local community, as well as throughout the Province of British Columbia. Growth in revenue and the number of technology firms for Greater Victoria outpaces the national average.

    Greater Victoria is home to a vibrant, diverse, and successful technology sector that has been a major driver of innovation and economic growth for the BC economy. The technology sector in Greater Victoria has experienced significant growth over the past decade—with industry revenues (direct impact) increasing from $1.0 billion in 2004 to $4.06 in 2017. This represents a more than fourfold increase over this period.

    The combined direct ($4.06 billion) and indirect ($1.16 billion) economic impact of the technology sector in Greater Victoria for 2017 was $5.22 billion—a 30% increase from the $4.03 billion estimated in 2013. The technology sector is responsible for a substantial portion of the region’s employment. In 2017, there were 16,775 employees in the sector.

    The technology sector in Greater Victoria is expected to continue to grow. The number of technology firms in Greater Victoria is expected to increase, reaching over 1,000 before 2020. VIATEC recently adopted a strategic plan focused on supporting the region’s tech sector in growing to $10 billion in annual revenues by 2030. Based on the findings of this study, it is expected that this goal will be achieved if not surpassed in that time frame.

    Click here to download the full 2018 Economic Impact Study.

    MEDIA CONTACT:

    Dan Gunn
    CEO
    VIATEC
    dgunn@viatec.ca
    250-882-2820

     

    ABOUT VIATEC:

    VIATEC (Victoria Innovation, Advanced Technology and Entrepreneurship Council), started in 1989. Our mission is to serve as the one-stop hub that connects people, knowledge and resources to grow and promote the Greater Victoria technology sector (Victoria's biggest industry).

    We work closely with our members to offer a variety of events, programs and services. In addition, VIATEC serves as the front door of the local tech sector and as its spokesperson. To better support local innovators, we acquired our own building (Fort Tectoria) where we offer flexible and affordable office space to emerging local companies along with a gathering/event space for local entrepreneurs.

    Our Focus Areas are: Regional and Sector Promotion, Networking and Connections, Talent and, Education and Mentoring. www.viatec.ca

     

  • Tessa Bousfield posted an article
    Largest technology companies headquartered or founded in Greater Victoria. see more

    September 11, 2014 - This is the latest list of the largest technology companies headquartered or founded in Greater Victoria based on reported 2013 calendar revenues.

    (in alphabetical order)

    • Access Point Information Canada Ltd.

    • Archipelago Marine Research

    • AXYS Technologies Inc

    • Beanstream

    • Boardwalk Communications

    • CAMACC Systems

    • Carmanah Technologies

    • Contech Enterprises, Inc

    • FTS Forest Technology Systems

    • HP Advanced Solutions

    • JEA

    • Latitude Geographics

    • ParetoLogic

    • Procura

    • Quester Tangent

    • Reliable Controls

    • RevenueWire

    • Schneider Electric

    • Scott Plastics

    • Seastar Chemicals

    • TC-Helicon Vocal Technologies Inc.

    • UNIT4 Business Software

    • Vecima Networks

    • Viking Air Limited

    Use the VIATeC Business Directory to quickly learn more about these companies.

    2014 VIATeC 25: $1.16 Billion Combined Revenues

    • The combined revenues of the VIATeC 25 (the Victoria tech sector’s 25 biggest firms, according to revenues, that are founded or headquartered in Victoria) has reached $1.16 billion.

    • This is 20% growth in combined revenues based on 2013 reported revenues.

    • VIATeC 25 companies collectively employee 3,630 employees.

    • On average, a VIATeC 25 company generates $46.3 million annual revenues.

    • The median revenue generated by a VIATeC 25 company is $17.5 million.

    Learn more about the economic impact of Victoria’s tech sector here.