Toronto has not always been known as a hub of technological advancement and industry but during the past five years, the city has risen to the forefront. Due to a combination of commercial and cultural attractions and developments, the area has become a leading destination for tech jobs and work on AI and machine-learning. There are also other major industries that are growing and healthy in the Toronto area that can be a draw if technology is not your area of expertise.
The first major reason for the growth of Toronto is that the prime minister has done major outreach to big companies offering up Toronto as a great place for new hubs of technology. Having the backing of the government behind an area of growth can make a major difference in its longevity. The addition of government funding for specific areas of growth has also been a major help to the growth of the tech industry in Toronto.
The second major reason that the area is growing by leaps and bounds is because the immigration policy in Canada is one of the best in the world. Being able to bring people into an area for good makes it much easier for major companies to grow quickly. The immigration policy also makes it easy to promise stability to people relocating from other companies and countries. Tech companies struggle to relocate talent in many other places which makes Canada an obvious choice compared to other locations.
Another factor for the recent growth of the Toronto tech industry is the lack of investment America has been making in tech during the Trump administration's reign. Combine this change of pace in America with Toronto's university which draws in people looking to further their careers away from America during a time of instability and uncertainty. The Toronto area is a hub of universities and businesses that intersect to create opportunities that would not otherwise be possible in many parts of the world.
One of the biggest draws to the Toronto area has to do with the AI industry in the area. One of the major AI industry cornerstones in Toronto is a $1.26 billion Innovation Fund which supports the growth of AI businesses in the Toronto area. The Toronto area is also a hub of start ups based on new technologies.
Lastly, Toronto is a great place for other types of businesses and hosts a growing sleep industry related to the development of better beds to allow for better sleep. Successful and happy people are fueled by sleep and Toronto is a great place to be if you want to invest in sleep technology to better lives. The sleep and bed in a box industry is about more than just mattresses. It is about those who are working to change lives one night at a time.
If you are looking for a great place to build a technology career or if you want to better lives through AI research or through sleep technology, Toronto is the place for you! For those moving from another country, immigration is friendly and there are incentives for relocation that you cannot find anywhere else. Toronto is one of the best places to move to for a variety of reasons and new opportunities are making themselves known every day!