Waterloo Region climbs the ranks of North America’s tech talent pool: report

Waterloo Region’s tech talent pool is being hailed as one of the best in North America. CTV’s Spencer Turcotte explains why.

A new report says Waterloo Region has soared in the rankings of North America’s tech talent pool.

“The CBRE annual Scoring Tech Talent [report] analyzes 75 North American markets and ranks the top 50 markets in the U.S. and Canada,” explained Todd Cooney, CBRE’s senior vice-president of tech and media.

The rankings are determined using more than a dozen different metrics, like tech talent concentration, tech talent pipeline research and development investment.

Waterloo Region has excelled in these areas since 2024’s rankings were released.

“It’s a huge jump on a big scale. It puts us into the top 10,” Cooney said.

The report shows Waterloo Region has moved to the seventh spot, up from 18th last year.

With Toronto also rising in the ranks, it cements both cities as bookending the innovation corridor.

“It’s now abundantly clear that we have this tech talent readily available in the innovation corridor,” said Cooney. “We rank as the third largest tech cluster in North America.”

So, what is driving Waterloo Region’s success?

There was strong job growth for computer and information system managers, representing a 369.2 per cent increase in those roles between 2021 to 2024.

Tech talent also made up 11.7 per cent of total employment in the region.

The report’s release coincides with Waterloo’s Tech Week.

“We’re hosting events for people who are interested in the tech field,” said organizer Tong Liu.

Liu, a second-year computing and financial management student at the University of Waterloo, was not surprised with the rankings.

“Part of the reason is the University of Waterloo, and the passion and innovation that the students bring,” he said. “It’s great that we jumped a lot, but it’s not entirely unexpected.”

While North America’s tech sector is constantly changing, one constant is Waterloo Region’s efforts to remain at the forefront.