London's Best Kept Secret

London is a vibrant and growing Information Technology sector. The region is home to approximately 235 IT and IT-related firms that are developing everything from cutting-edge software for manufacturing firms, to real-time stock quotes, to virtual reality tours.

The local IT sector has shown incredible growth potential --- over the past 2 years alone more than 20 IT companies have been established in London. While the companies in the industry tend to be scattered throughout the city, growth in the IT sector has had a notable impact on the downtown. A recent article in Business London magazine described the demand for downtown office space as "phenomenal" largely attributable to high-tech investment and the number of new IT firms. Many of these companies are creating clusters of activity within the buildings they occupy. The synergies that result are evident in a number of office buildings and research facilities throughout the city where IT companies share space and ideas.

London's Advantage

Why companies choose London to build their technology company is no mystery. Technology companies cited four key reasons for setting-up shop in London.

• London's secret to success in the IT sector is its ability to attract and retain well-educated and skilled people. London region has over 5300 people working in the information technology industry who come from different parts of the world and varied professional experiences.
• Our City is complemented by two renowned educational institutions and over 20 private training colleges that are producing the graduates demanded by today’s high technology industry.
• The University of Western Ontario’s Computer Science Department, currently has over 441 students in various years of study and approximately 127 Computer Science, Masters and Phd students.
• The Richard Ivey School of Business is rated by the Financial Times of London, UK as 22th out of 100 business schools in the world and rated the top business school in Canada, graduates over 600 MBA’s every year.

In the information technology business, labour is your number one resource and your largest cost. London’s wage rates are 10% to 15% less than rates in Toronto and it’s even less expensive when compared to major metropolitan centres in the U.S. where skill shortages drive up labour costs.

Local companies have found a low wage rate and highly skilled workforce, making London a cost effective place to do business. The cost of doing business is substantially lower than what you’ll find in major metropolitan areas in the U.S.

The abundance of class ‘A’ and ‘B’ office space in London coupled with the low cost of rent compared to major metropolitan centres makes London a destination for IT companies to set up shop.

Location

Strategically located on the NAFTA Superhighway at the junction of Highways 401 and 402, in London you can access the Toronto and Northeastern U.S. market with London’s International Airport that offers direct, same-day return service to Canadian and U.S. metropolitan locations.

Several U.S.-based companies have chosen to do development work for the global market in London because of its proximity to the American headquarters. In London, you are at the geographic centre of Southwestern Ontario and within a day’s drive of 150 million people.

Minimal commute times mean you can be in London’s core in less than 20 minutes, even if you start at the furthest point of the city’s boundaries. Median commuting distance to work is 5km.

Affordable housing means a standard two-storey home costs approximately $166,000 (CDN) and an executive two-storey home about $214,000 (CDN).

London is recognized as one of the premier medical centres in the world with 11 hospitals and research centres and with over $85 million spent each year on basic and applied research.

There are more than 10 cultural associations in London and a variety of language schools. In London it is possible to have the best of both worlds.