Why cities are trying to persuade tech companies to move

Ryan Holmes (originally of Vernon) recently disclosed that he’s received many invitations (with incentives) to move his Vancouver based company (Hootsuite):

It became clear to me then that cities were pursuing me as eagerly as I was pursuing new clients for my own business. And, if you look closer, this makes a lot of sense.There is an obvious and massive benefit to having well paid technology workers contributing to the local economy. In just over five years, we’ve gone from three to more than 500 employees and are on track to grow to 700 employees this year. These are young, smart, well adjusted people with good jobs who are contributing to the local economy in a big way. Ignoring the obvious taxes that the company pays, the ripple effect of having multiple tech startups fuelling the local economy is a taxman’s wet dream.

via Ryan’s post: Keeping Entrepreneurs Local — Medium.

Tech jobs and tech companies can help to improve a local economy. There’s obviously a lot of municipalities trying to get in on the action.

Again, my advice to Vernon is to stay focused on where we can be strongest, and appeal to bootstrappers and remote workers.

Photo credit: Rob Thompson

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