Kovasys warns of IT labour shortages in Quebec
August 03, 2008 (PRLEAP.COM) Technology NewsQuebec is experiencing an IT boom. Recent tax incentives and subsidies inspired many companies such as Morgan Stanley and Eidos to relocate or expand to Montreal, in order to benefit from these circumstances. However due to the high demand for IT professionals, Kovasys Inc. estimates that there will be a shortage of available IT professionals in Quebec in the upcoming years.
Kovasys Inc. (www.kovasys.com), an IT staffing firm in Montreal, was recently hired by Morgan Stanley and Ubisoft to handle the sudden enormous need for IT personnel. When asked, Alex Kovalenko, Director of Operations at Kovasys, Inc. said in a statement: "Due to the enormous growth of the IT industry in Quebec, specifically the region around Montreal, there is a serious shortage of available and qualified IT professionals. Currently we are forced to look for talent outside of Quebec, because it seems like we have placed every single available IT professional from the area."
Morgan Stanley, the bigwig banking firm from the United States, lured by the promise of tax credits decided to follow the suit and is investing heavily into building a $ 200 million worth of high tech accumulated in an IT behemoth which is supposed to support their global operations based out of New York. Quebec Premier Jean Charest commented the move as a "result for substantial effort" that Quebec is undertaking, in order to not only stay competitive, but play a leading role in global investment.
But the swarming of companies to Montreal is seemingly just starting. Besides EA Arts and PC Mall, Eidos has also opened a studio in Montreal as well as Amusement Cyanide, a French company developing niche video games also announced their move to Montreal. IT companies are invading the region attracted by the tax breaks offered by the Government of Quebec through Investissement Quebec and Emploi Quebec.
Estimates are that in few years, if not months, there are not going to be enough IT professionals to fill all available IT positions created by these tax incentives unless new candidates are willing to relocate from elsewhere to Montreal.
Meanwhile, the Kovasys headhunters are swarming other parts of Canada, the USA and even European markets for suitable IT personnel. Kovalenko explains: "Clients like Morgan Stanley and Ubisoft require only the best. Qualified but available IT personnel are getting rare in the Montreal region, so we have to look elsewhere. Nevertheless, I believe that soon Montreal is going to be the IT capital of the world."