An interesting stat was released by
the B.C. Regional Science and Technology Network yesterday. A report it
commissioned revealed that revenues generated by the south-island tech
community surpassed those of the tourism industry making high-tech the
leading economic driver in Greater Victoria in 2006.
Last year, Victoria’s cutting edge tech sector saw revenues of more
than $1.67billion, bringing almost $500million more into the regional
economy than the tourism sector at $1.19billion.
According to a report in the Victoria Times Colonist,
the survey was completed by 340 of the 878 high-tech firms in the
region. 333 of those who completed the survey entered revenue figures
totally $1.1billion. The survey extrapolated results for the remaining
545 businesses on the island.
Though the survey suggests average revenues for tech firms on the
south-island run towards the $1.3million mark, it should be noted that
the top 25 tech firms on the island account for nearly 50% of overall
revenues. The 25 largest tech firms on Vancouver Island collectively
saw $794,473,278 in 2006, according to the Vancouver Island Technology
Centre’s (VIATeC) list of Vancouver Island’s Top25 tech companies.
Quoted in the Times Colonist article, VIATeC executive director, Dan Gunn said,
“When people heard we were a $1 billion industry, they said,
‘wow, I had no idea.’ Well, this reinforces that and because it’s a
third party doing the study it will be seen as more valid. … We need to
get recognition for our tech sector on a national and global stage
because, like everybody else, there are some challenges we face to
grow. If people don’t realize they have opportunities here in Greater
Victoria it’s that much more difficult to deal with those challenges”
Dan is absolutely right. Victoria, long known as the land of the
newly wed and nearly dead, is a serious center of excellence in several
tech sub-sectors. The south-island is a special place for tech
developers and doers, particularly in the field of online marketing.
Many in the search marketing sector are amazed at the number of
high-level SEO and SEM firms or practitioners working on the
south-island. Off the top of my head, I can think of ten well-known
search marketing personalities living within 25 kilometers of my place
and almost two dozen more who live within 100 km. Much of the material
written about SEO and SEM technique came from the keyboards of a
half-dozen south-island residents.
Though southern Vancouver Island is one of the most beautiful places
on the planet and millions of tourists flock here every year to see it,
tourism is hardly a solid foundation to rebuild a once thriving
resource-based economy. With its high-flying revenues, high-paying jobs
and continued rapid growth, high-tech is.
Items like this are worth reporting, especially when one considers
the attention the tourism sector receives from regional, provincial and
federal governments. As Dan said, it’s time for tech to take some
credit. It’s not about bragging. It’s about developing a better, wider
reputation for the immense talent in city and the region. It’s about
pushing for stronger infrastructure and better conditions for both
employers and employees.
IT is rocking this town right now and the ceiling is still too high
to perceive. Further growth is going to happen but optimal growth might
be difficult to achieve. The greatest challenge facing the south-island
tech sector today is a serious skills shortage. With a low 3.5%
unemployment rate, Victoria is desperate for workers. We have more than
enough work to go around but not nearly enough people to take the jobs.
This issue is acutely felt in the tech sector where advanced skills and
knowledge are prerequisites for most positions.
Fortunately for firms in the search marketing section of the sector,
each of the three major post-secondary schools are running search and
Internet marketing degree programs. In the coming year, the first crop
of graduates will be hitting their keyboards looking for employment
opportunities.
Looking at the results of the B.C. Regional Science and Technology
Network survey, it appears those grads won’t have far to look.
Jim Hedger has written a widely read search marketing column for over five years. Co-host of Webcology on WebmasterRadio.FM, Jim is a writer and SEO consultant with Metamend Search Engine Marketing in Victoria BC.
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