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Silicon Valley looks north as tech giants expand in Toronto(1)
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2020-01-17 16:27
Silicon Valley looks north as tech giants expand in Toronto

According to media reports, U.S. technology firms are hiring more employees in Toronto, Canada, drawn by the city’s talented workforce, diverse population, lower labor costs, and circumvention of strict immigration rules that complicate hiring foreign employees in the United States.

For example, in December 2018 Amazon opened a 113,000-square-foot tech hub within the downtown area and announced it was creating 600 new job opportunities in the city. Meanwhile, Intel has introduced plans to construct a graphics-chip design lab in Canada’s largest metropolis, and Uber is aiming to open an engineering hub there. In addition, a subsidiary of Google’s parent company Alphabet plans to develop a futuristic metropolis in a derelict part of Toronto’s waterfront. “Quayside,” as the project is known, will be laden with sensors and cameras, with the resulting mass of data to be used to further shape and refine the new city. Furthermore, Microsoft has announced that it plans to expand its workforce in Canada by more than 20 percent. The links between San Francisco and Toronto have grown so tight that airlines have added 139 flights between the two cities over the last two years.

In its cover piece in September 2018 titled “Peak Valley: Why Startups are Going Elsewhere,” the Economist reported that while there is still no credible rival to Silicon Valley’s position as the world’s preeminent innovation hub, there are signs that its influence may be peaking and that it may become “Silicon Plateau.”

Sources: The Economist, Commercial Times, National Geographic, Zillow
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Update: 2020-04-23
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