London, Ontario Continues to Shine: Ranks Among Top 10 Emerging Tech Markets in North America

London, Ontario has secured its position among the top 10 emerging tech markets in North America for the second consecutive year. According to the CBRE’s Scoring Tech Talent 2023 report, the city has ranked eighth, surpassing Las Vegas, Winnipeg, and Buffalo, N.Y., among others. Only Halifax, N.S., claimed a higher spot in Canada, ranking fourth.

The commercial real estate services and investment firm revealed that London experienced a remarkable 79% increase in total tech growth citywide. In the last 12 months, the tech job market surged from 13,700 to 16,100 positions. This ascent marks a significant improvement from London’s tenth position last year.

TechAlliance of Southwestern Ontario praised the city’s progress, attributing it to the involvement of innovative students from Western University and Fanshawe College, supported by incubators, accelerators, an innovation hub, and economic development organizations.

Christina Fox, CEO of TechAlliance, expressed her excitement about London’s climb in the rankings, emphasizing how the city’s tech talent is driving innovation and contributing to the local economy. CBRE’s methodology for determining emerging markets includes evaluating factors like tech-job concentration, tech labor pool size, and real estate costs.

Local tech analyst Carmi Levy applauded London’s tech market, noting the city’s tendency to under-celebrate its successes. He highlighted the city’s innovative companies and their contributions to the industry. London’s substantial growth in tech employment and its overall tech industry prowess sets it apart in North America.

Levy highlighted the city’s abundant resources for funding, mentorship, advice, and real estate, asserting that all the necessary ingredients for tech success are present. He likened the situation to a “giant pot of goodness,” suggesting that the time is ripe to harness this potential.

Overall, London‘s rising prominence in the tech sector reflects its continuous efforts to foster innovation and develop a thriving tech ecosystem that attracts talent, investors, and industry recognition.

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