Today KPMG released the BC Technology Industry Report Card for 2012. The report examines the BC technology industry as it stands today—provincially and nationally—and gives us a glimpse of the incredible potential of the technology sector in this province.
At first glance, there is much to celebrate. The 2012 B.C. Technology Report Card confirms that the tech industry continues to outpace traditional resource-based industries in B.C. for revenue and employment.
The industry employs more than 80,000 people—more than the forestry, mining and oil and gas sectors combined. Revenues have grown to $18.9 billion in 2009 from $12 billion in 2001, an average annual growth rate of more than 5% and more than double the rate of overall provincial GDP. Exports grew from $2.2 billion to $4.1 billion in the same period.
While that all sounds great, KPMG concludes that BC is not performing as strongly when compared to its tech sector peers in other provinces.
Success in technology is no longer an option. It’s a prerequisite for economic success. B.C. has the people, the companies, and the stored potential to be an important technology force, both in Canada and globally. Realizing BC’s full potential will require renewed commitment and partnership between government, industry and investors.
For those wondering in what tech sectors the 81,000 people are working and how important they are to teh provincial economy, have a look at the detailed breakdown.
Information and Communications Technology: Featuring companies in telecommunications, software development, computer services, manufacturing and wholesaling, but excluding wireless and digital media, which have been presented separately for purposes of this report.
- 40,000 jobs.
- 6,000 companies.
- $7.9 billion in revenues.
Wireless: Featuring companies in all areas of the mobile ecosystem, including mobile operators, platform providers and device manufacturers.
- 10,200 jobs.
- 1,200 companies.
- $3.0 billion in revenues.
Cleantech: Featuring companies in energy generation, energy transmission and storage, energy use in transportation, energy efficiency and resource management.
- 6,400 jobs.
- 202 companies.
- $1.7 billion in revenues.
Digital Media: Featuring companies in video gaming, animation and visual effects, social media, interactive marketing and e-learning.
- 14,000 jobs.
- 900 companies.
- $1.2 billion in revenues.
Life Sciences: Featuring companies involved in biopharmaceuticals, medical devices, bioproducts and bioenergy, and greater life sciences.
- 10,200 jobs.
- 340 companies.
- $800 million in revenues.