Advanced Technology - Competitive Advantage Driver for the Region's Economy
The fabric of the Waterloo Region's dynamism, and its future, is woven from the threads of industry employing advanced technology in their product development and manufacturing processes, and using advanced technology as a key driver of business competitiveness. The Region's Advanced Technology Cluster crosses many sectors, but has particular prominence in the automotive, ICT, advanced manufacturing, and business and financial services sectors. The Region's innovation prowess is reflected in the 30,000 people employed at 1,000 information technology companies. Competitive business costs and the most diverse economy in Ontario drive the continued expansion of the advanced technology cluster.
Waterloo Region - One of the Most Diverse Economies in Canada
Waterloo Region has become a "go-to" location for businesses outside the Region looking for a new location that has the right mix of ingredients for business success: an educated, highly skilled workforce; globally competitive industry clusters; available labour supply; competitive business costs; and strategic location. Over the years, the Region's economy has evolved. Though manufacturing investment remains important, research-intensive activity is a growing dimension of the economy. The Region's focus on investment attraction targeted at information and communication technology, financial services, nanotechnology and quantum information reflects the emergent, research-intensive strength of the Waterloo Region.