It’s no secret that demand for tech talent is astronomically high these days. The location of quality and cost-effective tech talent is a prime consideration for tech companies looking to locate, relocate or expand in North America.
If you’re searching high and low for quality talent to fill your company’s ranks, look no further than Waterloo. According to CBRE, Waterloo’s millennial and new graduate populations are growing at the fastest rates in North America.
Earlier this year, CBRE released its 2022 Scoring Tech Talent Report, an annual publication that analyzes tech talent trends across the continent. A section of this report is devoted to evaluating new graduate (20-24 year-old) and millennial (25-39 year-old) population changes across different regions.
Waterloo topped the charts in both sections, besting all large and small tech talent markets handily. Since 2015, Waterloo has seen a 12.1% increase in its new graduate population and is the only tech talent market with double-digit growth. As for millennial growth, Waterloo’s millennial population has seen a 20% increase.
But what do our thriving young populations indicate? Here’s why this information matters:
New graduate and millennial populations are notable characteristics in tech talent markets across the continent. Why? Millennials represent the largest demographic cohort in the workforce, while new graduates (Gen Z) will fuel future growth. These days, millennials desire innovative, progressive and accessible cities with top-rated post-secondary institutions. New graduates seek diverse regions with a wide variety of work opportunities and an excellent sense of community.
It’s no wonder Waterloo’s new graduate and millennial populations are growing faster than anywhere else in North America. Our region has all that – and more – in spades.
Waterloo is home to three incredible post-secondary institutions. The University of Waterloo is one of the world’s biggest and best tech schools and is world-renowned for its entrepreneurial and innovative spirit. In fact, it was just named “Canada’s Most Innovative University.” Conestoga College is one of the fastest-growing colleges in Ontario and is widely recognized as a leader in polytechnic education. Wilfrid Laurier University is home to an exceptional business degree program and a wide range of experiential learning opportunities.
The abundance of startups, scale-ups and multinationals in Waterloo also make our region an attractive location for millennials and new graduates. Located in Waterloo are several homegrown companies like Faire, ApplyBoard, D2L, BlackBerry and OpenText, and California-based tech companies such as Google, Square and MasterClass. Plus, our innovation ecosystem boasts dozens of leading research institutions, business incubators and hubs that help bring leaders’ ideas to life, including Communitech, Velocity and the Accelerator Centre.
Speaking of life, Waterloo’s local lifestyle is vibrant and diverse. From entertainment to nightlife to arts and culture, there are countless exciting activities and opportunities offered in Waterloo for all ages. Oh, and we’re close enough to Toronto that you can pop into town for a Major League Baseball game, a Drake concert or a top-notch piece of theatre.
These post-secondary schools, paired with our innovative tech ecosystem and incredible local lifestyle, create a community where people can live, work and play with ease. This is what draws millennials and new graduates to our city, which is a large reason why Waterloo was named the #1 small tech talent market in North America.