A recent study commissioned by Accelerate Okanagan in conjunction with the Central Okanagan Economic Development Commission is providing concrete statistics that reveal just how much the tech sector is flourishing in Kelowna and surrounding communities. The report shows year-over-year economic growth of 15% since 2013 within the sector, with an estimated contribution of $1.67 billion to the region’s economy.
With 693 technology businesses currently operating in the Okanagan, we’ve seen a 24% increase since the first survey was conducted in 2013. And of course, with the growing number of tech positions becoming available, the talent pool is also flocking to this region.
“We are excited by the consistent growth indicated by the findings in this report,” said Raghwa Gopal, CEO of Accelerate Okanagan, in a recent press release. “This study provides proof of what those working in the Okanagan tech sector have long known: big things are happening here, and we’re just getting started. The Okanagan is ripe with potential for entrepreneurs of all kinds.”
Aside from the report, there are other clear signs that Kelowna is becoming known as the tech hub of the west coast, such as innovation-focused events like OKGNtech LIVE and TEDx Talks cropping up across the city. In fact, the most recent addition to Dragon’s Den, Lane Merrifield, is a product of Kelowna and the creative genius behind popular children’s social network Club Penguin.
With the tech sector steadily growing in the Okanagan region, the demand for office space to accommodate tech-focused companies is expected to grow as well. With this in mind, alternawork is preparing for the future by opening a new location in Kelowna to satisfy the needs of tech companies.
It’s no surprise that entrepreneurs are increasingly attracted to the Okanagan region with its appealing lifestyle, climate, and growing reputation as a technology hub—and this trend is expected to continue.
Alternawork is a dynamic cowork facility serving the thriving tech community in the Greater Toronto Area (GTA) and Kelowna. To book a tour or discuss your office space needs, contact us today!
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