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Canada has emerged as a new hub for global software industry. In 2007, valued at USD 32.2 billion, Canada is home to 52,926 firms that employ approximately 262,100 professionals. Supportive government policies, world best technology infrastructure and workforce are the key factors driving software excellence in Canada.
The Canadian government has played a key role in driving investments to the region. The federal government and many of the provincial-level governments have policies in place supporting software and applications development in the form of research and development tax credits. As per some estimates, the total value of these tax credits was approximately USD 4.5 billion in 2010. Additionally, to support business investment, the region has one of the lowest marginal effective tax rates amongst the G7 countries.