Business

ECONOMIC UPDATE: Report analyzes impact of tech sector in Nanaimo

By Sasha Angus

The Nanaimo Economic Development Corporation, in collaboration with Innovation Island, is preparing to release an economic impact analysis of the Nanaimo technology sector. As part of a series of economic studies, the technology sector was selected due to its growing impact on our local economy, and the wealth of opportunity that it represents for our workforce, business owners, investors and our community as a whole.

The rationale for undertaking this report was to create the most up-to-date inventory of businesses, data and economic impact analysis of Nanaimo’s tech sector in order to support and inform important decision-making for industry, stakeholders, policymakers and government.

The Technology Economic Impact Study will be released for public viewing on Thursday (March 6), and will be available on the NEDC website, www.investnanaimo.com. As part of the release of this report, the NEDC will be hosting an online discussion via Google Hangouts, a video-conferencing tool. This is an exciting opportunity learn more about our tech sector with Innovation Island and the NEDC, discussing the impact of our technology industry and some of the fantastic work being done in this sector locally.

This is an excellent time for our technology companies. Given the ubiquity of broadband access in the region, entrepreneurs who wish to start new businesses in the tech sector have greater opportunities than ever before to locate their businesses where they wish. The continued shift to a knowledge economy has driven sectors that are traditionally less technology-driven to adapt new ways of doing business and consequently branching out into the tech sector.

Nanaimo is home to a diverse and thriving technology sector representing a significant contributor to the region, in terms of impact from GDP, household income, employment and fiscal (or government taxes).

Our unique businesses, as well as the regional organizations and individual thought leaders in the tech community, are what make this sector thrive in the region, making its contributions to the region reach impressive heights.

We look forward to sharing this illuminating report on one of our key industry sectors, and hope that you will join us on Thursday at www.investnanaimo.com/Technology.

If you are not able to join us live, the video discussion and report will be available for viewing any time after March 6 at the same webpage.

Sasha Angus is CEO of Nanaimo Economic Development Corporation.

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