26 Apr 2022
Silicon Valley North: U.S. Tech Giants Look to Canada as New Tech Hub
The Index Today
U.S. tech giants Amazon, Meta and Google are looking to establish a stronger presence in Canada, sparking a significant tech boom in the country.
According to CBC News, Google intends to expand its workforce in Canada by a threefold while Facebook-parent Meta unveiled plans to employ as many as 2,500 individuals in Toronto and in other parts of the country. Amazon also intends to fill up about 600 tech positions in the country.
Even though Canada is footing its mark as Silicon Valley North, several tech startups in the country have become unsettled as a result. Although Canadian tech startups have been enjoying success, they now find themselves in a position where they have to compete with prominent American tech giants to attract the best talent.
Ron Spreeuwenberg, the CEO of Toronto-based tech firm HiMama, said, "The No. 1 reason why people choose a company or a role is what the company does and the opportunity for them, in terms of learning and development, and the challenge." He further acknowledged, "We know we're competing against companies…who certainly can afford a lot more than us when it comes to compensation.”