Toronto has had a pretty good high-tech scene since the mid 90's. The area around the old carpet factory and Front street as well as a good part of King street going into town have housed and are housing many high tech companies.

Front 151 was a major hub for North America and allowed co-location and cheap fiber so a lot of DC activity sprang up around it and that in turn led to many start-ups choosing Toronto. The fact that there are two excellent universities nearby (Waterloo and UFT) helped a lot in that it sourced a stream of very capable programmers.

The only thing that stopped Toronto from developing further as a high tech city is the brain drain to the valley were engineers could easily make double of what they could make in Toronto.

http://www.151frontstreet.com/