We often compare Waterloo’s exceptional tech credentials to other major cities in Canada like Toronto and Montreal, and major US tech hubs like Silicon Valley and New York, where the vast majority of tech investment has traditionally landed.
What we haven’t really dug into – until now – is how our ecosystem stacks up against smaller US tech markets that are showing undeniable momentum. We’ve scored our data and gone head-to-head with tech markets across the US, coming out victorious against Austin, Pittsburgh, Columbus and Detroit.
How will things wrapup with Phoenix, Arizona?
Editor’s Note: This is part of a Waterloo EDC series called “5 Charts: Waterloo Versus” that compares our community with some of America’s top tech hubs, including Austin, Texas; Pittsburgh, Pennsylvania; Columbus, Ohio; Phoenix, Arizona; Salt Lake City, Utah and Detroit, Michigan. You can find a full summary here.
Matchup #6: Waterloo, Canada vs. Phoenix, Arizona
Waterloo and Phoenix share a handful of similarities. We are both home to a thriving talent pipeline, fueled by globally ranked universities, are known for our collaborative tech ecosystems and offer a relatively low cost of living. We make for a good matchup.
Quick Facts:
*CBRE Scoring Tech Talent, 2024
Round One: Tech Talent Density
SOURCES: CBRE Scoring Tech Talent, 2024
Waterloo shines with respect to tech talent density when compared to hubs across the US. In fact, we were just named the #1 small tech talent market in North America for the third year in a row.
A lot contributes to Waterloo’s impressive density, but there are a few factors in play that contribute to this.
- First, while we have fewer universities and students, Waterloo is home to Canada’s top technology school, the University of Waterloo(UWaterloo).
- Second, Canada has some very business-friendly immigration programsthat are helping American companies retain global talent.
- Finally, our community has caught the eye of global tech giants like Google, Bosch and EPAM Systems, and high-growth unicorns like Faireand ApplyBoard.
With Waterloo’s unmatched ecosystem, talent, research assets and location, the region has become the largest robotics and automation cluster in Canada, propelling it as a leader in global tech.
Round Two: Engineering and Computer Science University Program Sizes
SOURCES: The University of Waterloo and Arizona State University
We have finally met our match! While UWaterloo still has a larger computer science program, Arizona State University’s engineering program is massive, eclipsing Canada’s largest engineering school.
Round Three: Research Output (0-100 scale)
SOURCE: QS Global University Ranking, 2024
Waterloo takes back the lead. Waterloo is home to a number of top research centres and business incubators, so it’s no surprise that the region is leading the way in citations per faculty. This impressive feat reflects Waterloo’s dynamic environment, where cutting-edge research and collaboration thrive, solidifying its reputation as a global leader in tech.
Round Four: Rent
SOURCE: CBRE Scoring Tech Talent, 2024
Waterloo takes the win here. Our commercial rent costs are well below Phoenix’s.
In Waterloo, it’s possible to find a working space that supports your company’s expansion plan while realizing significant cost savings, all without sacrificing top-quality talent.
With our signature sites page, you can explore the wide variety of real estate options available in Waterloo. From manufacturing facilities to office space, Waterloo has it all.
Round Five: Tech Salaries
SOURCE: ERI Salary Assessor, 2024
Waterloo and Phoenix are very neck and neck this round. But, the high-quality talent for a lower cost is a core aspect of Waterloo’s value proposition. In fact, CBRE announced that Waterloo was the #1 small tech talent market in 2023 for the third year in a row.
Waterloo has significant advantages in talent, research productivity and cost compared to Phoenix. Yes, we are proud of our community, but the numbers speak for themselves! Want a more detailed comparison?
Summarizing success
In the race between Waterloo and Phoenix, Waterloo emerges as the clear winner across multiple key metrics. This success can be attributed to several factors, including the presence of one of Canada’s top technology schools, UWaterloo, business-friendly immigration programs and ability to maintain innovation and talent.
Let’s summarize the results of the match-up:
- Waterloo has a higher concentration of tech talent than Phoenix.
- Arizona State University’s s tech programs have much higher enrollment than UWaterloo.
- UWaterloo had more citations per faculty than Arizona State University.
- Waterloo had lower renting costs than Phoenix.
- On average, tech salaries in Phoenix are lower than in Waterloo.
For companies considering business expansion, Waterloo is a compelling and strategic choice, offering a winning combination of innovation, talent and economic advantages.