Article by Green and Spiegel LLP
Canada is quickly becoming a hub for IT companies. Whether it is big and established companies or brand-new start-ups, the IT sector is booming. There are many reasons why IT companies want to do business in Canada. Here are five big reasons.
- Global Skills Strategy: Taking advantage of new work permit exemptions and two-week processing times, Canadian businesses are using this program to bring top talent from around the the world to their IT companies in Canada. The program was introduced in June of 2017 as part of the government's long-term plan to promote growth and innovation right here in Canada.
- Canada is a STEM Powerhouse: the province of Ontario alone has more STEM graduates than the entire state of California. But it's not only about numbers; Canada has some of the world's best universities and top IT programs. Did you know that the University of Waterloo is the top recruiting spot for Silicon Valley?
- Canada Invests in Innovation: in its budget for 2018, the Canadian Government announced new investments of almost $4 billion over five years to support Canadian research. The Government will support the work of more than 20,000 researchers and will invest more than $1.3 billion in labs and equipment. This is the largest investment in science and innovation that the Canadian Government has ever made.
- Canada is Open and Welcoming: Canada's diversity has earned it an exceptional reputation among business leaders. Good businesses know that companies with more diverse personnel outperform their competitors. A diverse workforce means more efficiency, innovation, and better responsiveness to client's needs. Diversity is why many are choosing to build their business right here in Canada. Did you know that more than half of Torontonians were not born in Canada?
- Uncertainty in the U.S.: since the Presidential Elections in 2016, there has been much speculation about the future of U.S. work visa programs, including the H1B visa which many IT companies rely on to bring workers. The uncertainty has made some IT companies downsize their operations in the U.S. and go elsewhere. Many have made use of the Global Skills Strategy to expand their Canadian operations.
This is an exciting time for the IT industry in Canada. Whether it is Canada's stable immigration system, diverse human resources, or thriving universities, there are plenty of reasons why IT companies are coming here.