I think that Singapore is suffering from almost exactly the same problem as Vancouver, Canada. It's a fantastic city enveloped by the ocean and mountains, has world-class cuisine, and city planning that has a semblance of sanity to most observers.
Yet, the young brains are draining en masse for Montreal and Toronto (not to mention California). It doesn't help that Vancouver hasn't bothered to match the aforementioned cities' tax incentives for small and technology businesses (thus the brain drain). And, lately it seems that mainland Chinese are trading their yuan for Vancouver real estate, thus seriously inflating the bubble and pricing everyone who doesn't own an Android phone factory in Chengdu out entirely.
Singapore is increasingly being known as a haven for the borderless rich to park their jets and their cash, since the tax climate is the envy of most of the developed world. So, the same situation foments: You can't keep the Creative Class without giving them (affordable) space to live and work and play (which for that class is all the same!)
Here[1] is a good summary of why Montreal has one of the highest concentrations of tech jobs in N. America. And, while Quebec citizens might have to bear a larger tax burden than other provinces, there are heaps of tax incentives for businesses (especially technology) to startup or relocate there. There are massive SR&ED (Scientific Research and Experimental Development) tax credits and other incentives that can halve or more employee compensation expenditures.
Vancouver needs to play tax catchup (while boosting technology sector wages to level out the cost of living playing field).
I was seriously considering moving to Vancouver from Calgary. It is really hard to find talented, passionate people in Calgary. But even ignoring the lower wages in Vancouver, the cost of housing is a bad joke.
My long term plan now is to move to Toronto. Plenty of flourishing tech communities. Industries where technology is a differentiator (Calgary is all cost centre). It is the small things that make a difference. I would love to spend an evening learning something from my peers, rather than presenting beginner level content because most of the audience is stuck using pre-approved MS technologies.
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I think that Singapore is suffering from almost exactly the same problem as Vancouver, Canada. It's a fantastic city enveloped by the ocean and mountains, has world-class cuisine, and city planning that has a semblance of sanity to most observers.
Yet, the young brains are draining en masse for Montreal and Toronto (not to mention California). It doesn't help that Vancouver hasn't bothered to match the aforementioned cities' tax incentives for small and technology businesses (thus the brain drain). And, lately it seems that mainland Chinese are trading their yuan for Vancouver real estate, thus seriously inflating the bubble and pricing everyone who doesn't own an Android phone factory in Chengdu out entirely.
Singapore is increasingly being known as a haven for the borderless rich to park their jets and their cash, since the tax climate is the envy of most of the developed world. So, the same situation foments: You can't keep the Creative Class without giving them (affordable) space to live and work and play (which for that class is all the same!)
Brain drain to Montreal?
I am a bit skeptical that anyone would want to pay Quebec-level taxes, particularly with the recent political issues at play.
Could you offer some evidence for this? I'd love to believe it is true (as I am originally from there), but it just rings hollow.
Here[1] is a good summary of why Montreal has one of the highest concentrations of tech jobs in N. America. And, while Quebec citizens might have to bear a larger tax burden than other provinces, there are heaps of tax incentives for businesses (especially technology) to startup or relocate there. There are massive SR&ED (Scientific Research and Experimental Development) tax credits and other incentives that can halve or more employee compensation expenditures.
Vancouver needs to play tax catchup (while boosting technology sector wages to level out the cost of living playing field).
[1]http://www.startuprev.com/archives/2012/10/the-montreal-tech...
Thanks! I'll take a gander.
Quebec has generous tax benefits for R&D work, for one. There are lots of game companies in Montreal using this.
I was seriously considering moving to Vancouver from Calgary. It is really hard to find talented, passionate people in Calgary. But even ignoring the lower wages in Vancouver, the cost of housing is a bad joke.
My long term plan now is to move to Toronto. Plenty of flourishing tech communities. Industries where technology is a differentiator (Calgary is all cost centre). It is the small things that make a difference. I would love to spend an evening learning something from my peers, rather than presenting beginner level content because most of the audience is stuck using pre-approved MS technologies.