Innovation Island, in partnership with Nanaimo Economic Development Corporation, released the Tech Economic Impact Study report today. While it may not be front of mind, the technology sector in the region is a significant, and as important, a quickly growing part of our local economy. Here are just a few of the details outlined in the report:
Nanaimo and Region is home to an estimated 350+ businesses that drive the region's technology industry. In 2012 they generated $204.1 million in revenues, and had sector-related expenditures of $155.2 million. The technology sector had a total GDP impact of $199.0 million and a total household income impact of $133 million. With a total employment impact of 2,730 jobs, this sector generated $19.7 million in taxes. For every $1 million in industry output, the tech sector generates 14 jobs in the region.
For more information and to view the final report and video announcement, click here