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An interesting stat was released by the B.C. Regional Science and Technology Network yesterday. A report it commissioned revealed that revenues generated by the south-island tech community surpassed those of the tourism industry making high-tech the leading economic driver in Greater Victoria in 2006.
Last year, Victoria’s cutting edge tech sector saw revenues of more than $1.67billion, bringing almost $500million more into the regional economy than the tourism sector at $1.19billion.
According to a report in the Victoria Times Colonist, the survey was completed by 340 of the 878 high-tech firms in the region. 333 of those who completed the survey entered revenue figures totally $1.1billion. The survey extrapolated results for the remaining 545 businesses on the island.
Though the survey suggests average revenues for tech firms on the south-island run towards the $1.3million mark, it should be noted that the top 25 tech firms on the island account for nearly 50% of overall revenues. The 25 largest tech firms on Vancouver Island collectively saw $794,473,278 in 2006, according to the Vancouver Island Technology Centre’s (VIATeC) list of Vancouver Island’s Top25 tech companies.
Quoted in the Times Colonist article, VIATeC executive director, Dan Gunn said,
