The Okanagan’s technology industry is accelerating rapidly, contributing $1.3 billion to the local economy in 2015 alone.
“Technology innovation is rapidly transforming every industry and sector. Nearly all business is becoming ‘technology-enabled,’” said Raghwa Gopal, CEO of Accelerate Okanagan.
“The growth we’re seeing is being driven from companies across the whole region, from Salmon Arm to Osoyoos, in a wide range of sectors – including agriculture, energy, healthcare, software, telecommunications, and advanced manufacturing.”
The $1.3 billion contribution to the overall Okanagan economy represents an unprecedented 30 per cent growth in two years.
Over a two-year period, the Okanagan’s technology workforce has increased by 16 per cent to a total of 7,600 people.
According to the 2015 economic impact survey, the Okanagan Valley is home to 633 technology businesses an increase of 75 businesses since 2013.
According to Gopal, 180 of those are in Vernon and Salmon Arm. And 52 per cent of the workers are below the age of 35, which is keeping young people in the region.
“It’s great growth for our community and it’s great growth for our young people,” said Vernon Mayor Akbal Mund.
There are also two start up companies in Enderby involved with AO, including Armadillo Trailer Manufacturing.
“They just build trailers but there’s a lot of technology involved,” said Gopal.
In Salmon Arm, Mayor Nancy Cooper says the region is also growing its technology sector.
“Salmon Arm is looking at a feasibility study for the technology sector,” said Cooper, adding that Telus fibre optics are already in place door-to-door, which will draw more tech businesses to town.
But some challenges facing the industry, across the Okanagan, is capital and talent.
“We have 100 to 200 openings at any time,” said Gopal.