The Nanaimo Economic Development Corporation is compiling a detailed economic impact study relating to the technology sector for the local region. The approximately $18,000-impact study is the latest in a series that are being commissioned by the NEDC to provide information on a variety of economic sectors in Nanaimo.
Nordicity, a leading consulting firm specializing in policy, strategy, and economic analysis in the information and communications technology sectors, has been selected to produce the report.
The NEDC is partnering with Innovation Island, formerly known as the Mid-Island Science, Technology and Innovation Council, to assist with the report and deal with its findings.
The report is scheduled to be completed by the end of November.
Sasha Angus, the CEO of NEDC, said the last study on the local technology industry prepared by Innovation Island seven years ago found that the sector accounts for hundreds of millions of dollars in the regional economy every year.
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.
"The knowledge-based jobs that this sector provides are high paying and provide significantly to our economy, so we need an accurate inventory of these companies in our efforts to help grow," Angus said.
Nordicity will collect vital economic data from the sector, on a confidential basis, which will allow the company to estimate the impact the technology sector has on the local economy.
"The best way to ensure the technology sector is accurately reflected in this process is to get involved and we encourage all tech firms to take part in this exercise," said Paris Gaudet, Innovation Island' executive director.
Innovation Island was established in 1998 by a group of technology entrepreneurs and enthusiasts who wanted to create an organization that would assist innovators with putting their ideas into action.
To assist in the research, technology professionals are invited to a gathering on Sept. 30, beginning at 4:30 p.m., at Fibber Magee's pub downtown to provide input to the project and network.
© Copyright 2013