Parts of the tech industry are in growth mode in the midst of the current economic downturn. Surprising but true!
A recent article in the National Post by Karen Mazurkewich asserts that while Automotive declines in Ontario, technology takes over...particularly in Waterloo. Ontario is the centre of Canada's manufacturing sector and automotive in particular. Waterloo is situated about 112 km east of Toronto.
Here's a quote from the Post:
"Situated in the heart of the auto parts manufacturing region, Waterloo is the new tech capital of the country. In this former agricultural heartland, still heavily populated with stoic Mennonite farmers, the story is upbeat. The tech sector here generates more than $15-billion per year, and the employment growth rate is 7%, significantly higher than Ottawa or Toronto."
Wait, it gets better: "Technology firms in the Waterloo region employ 28,000 people, and there are at least 2,000 more jobs looking to be filled. The community now boasts 550 technology companies, including the region's anchors: Research in Motion (RIM), Open Text, the largest software company in the country; and Christie Digital Systems Inc., make of a high-end projection system, to name a few."
I imagine that Waterloo is now the envy of every other North American city! Click here to read the entire article.