High-tech revenues reach $204m in Nanaimo, BC (Nanaimo Daily News)
Posted by Nordicity in Vancouver on Mar 08, 2014

Robert Barron / Daily News March 8, 2014 12:00 AM

Shawn Adrian had the opportunity to move his high-tech company, Input Logic, from Nanaimo to San Francisco but decided to keep operations in the city.

Input Logic, a small but growing business with five employees currently, turned heads around the world last year with its concept for the Postach.io Internet technology, which enables users to publish blogs, photos, and other content to the web in seconds from any mobile or desktop computer.

Adrian said there are advantages to moving his young company to Silicon Valley or other international high-tech centres, but Nanaimo has a lot to offer as well, including a "better lifestyle" for his employees, as well as much cheaper costs for daily operations.

It appears that Adrian is not alone in wanting to establish his high-tech business in Nanaimo.

According to the latest report conducted by the Nanaimo Economic Development Corporation on the economic impact of the technology sector in the local region, there are approximately 350 high-tech businesses currently operating in the Nanaimo region, generating more than $204 million in revenues every year. The report states that the sector provides 2,730 jobs on the area and is currently generating approximately $19.7 million in taxes annually.

"The Nanaimo region has a vibrant and growing high-tech community," said Sasha Angus, CEO of the NEDC.

The $18,000-impact study was conducted by Nordicity, a leading consulting firm specializing in policy, strategy, and economic analysis in the information and communications technology sectors.The report is the latest in a series that are being commissioned by the NEDC to provide information on a variety of economic sectors in Nanaimo.

Angus said that it's important to have an accurate inventory of technology companies operating in the region, what their specialities are, what they are spending on human resources and how much they contribute to the local economy.

He said that with this information in hand, it can be determined how to best assist local technology companies and what is required to help make them succeed and expand.

Angus said many of the hightech companies currently operating in Nanaimo are "start up" businesses with as few as one of two employees, while others like Inuktun Services Ltd. are already well established and have dozens of employees.

© Nanaimo Daily News 

Source: http://www.nanaimodailynews.com/news/high-tech-revenues-reach-204m-1.886237