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Eight reports from 2020 that make the case for expanding to Waterloo

A round-up of reports and rankings that highlight Waterloo's business ecosystem from 2020, including lists from Deloitte, CBRE and more.

Every year, Waterloo is featured in several reports and rankings that touch on everything from tech talent quality and university rankings to company growth.

Waterloo is a globally renowned tech and manufacturing hub, home to top post-secondary institutions, leading research institutes and some of the world’s most promising startups, all of which helps solidify our place among the world’s top business hubs. These reports and rankings prove it.

To close out 2020, we’re highlighting eight major reports that illustrate why Waterloo is such a strong candidate for business expansion.

Here are eight reports that highlighted Waterloo’s ecosystem in 2020:

1. Deloitte says Waterloo is home to 22% of Canada’s fastest-growing tech companies

For the second year in a row, the two fastest growing tech companies in Canada – Intellijoint Surgical and ApplyBoard – are located in Waterloo, according to Deloitte’s Technology Fast 50 list. Eleven companies with Waterloo offices made the list, meaning that 22% of Canada’s fastest growing tech companies are part of our ecosystem.

2. CBRE ranks Waterloo as North America’s top emerging tech talent market

Waterloo was highlighted as the best “opportunity market” in North America on CBRE’s 2020 Scoring Tech Talent report. The report noted Waterloo’s incredible growth of 51% in tech jobs over the past five years and the region’s impressive total tech employment, which contributed to Waterloo’s top score.

3. CBRE ranks Waterloo #1 for tech talent quality

CBRE’s annual tech report ranked Waterloo first in Canada for tech talent quality and fourth overall for tech talent this year. The report also highlighted Waterloo’s tech talent quality-to-cost, where the region ranked first as well. One factor that contributes to Waterloo’s “exceptional” tech talent quality is the University of Waterloo, Canada’s top technology school.

4. UWaterloo ranks #1 in Canada for computer science and engineering

The University of Waterloo (UWaterloo) is officially Canada’s top technology school, ranked number one in computer science, engineering and mathematics by Maclean’s Magazine. UWaterloo was also named Canada’s second-best comprehensive university – based on the school’s balance of research and academics – and the third best Canadian university overall.

5. Site Selection Magazine calls Waterloo Canada’s best up-and-coming market

Waterloo was the number one up-and-coming market in Site Selection Magazine’s ranking of the best Canadian locations. Situated along the Toronto-Waterloo Corridor, Waterloo has an entrepreneurial business ecosystem and a competitive cost of doing business that set the region apart. Site Selection’s rankings also highlighted Ontario as the best province for foreign direct investment.

6. A dozen of Canada’s fastest growing companies are located in Waterloo 

Deloitte’s list wasn’t the only one to highlight the incredible growth of Waterloo-based companies. Twelve Waterloo companies were on the Globe and Mail’s list of the fastest growing companies in Canada.

7. Waterloo Region is the fastest growing community in Canada

Waterloo is Canada’s fastest growing community according to the annual report on population growth by Statistics Canada. The factors driving Waterloo’s rapid growth include a booming economy, three outstanding post-secondary institutions and an affordable cost of living that doesn’t sacrifice access to Canada’s largest city.

8. Two Waterloo companies rank among the world’s most promising AI startups

Waterloo is a global leader in Artificial Intelligence. This year, two Waterloo AI companies – DarwinAI and Faire – were recognized internationally for their potential by CB Insights. Faire, which became a unicorn late in 2019, doubled its valuation to $2.5 billion in 2020.

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