Raincity Studios crosses the street to a new home

RainCity Studios has run into its share of setbacks this year. First it shut down the Bryght hosting services it bought from the company not two years ago, and now it’s moving to a smaller office, just across the street from its old digs. As of May 1st, Raincity will be located at 401 – 68 Water Street, just above the Lamplighter Pub.

According to Raincity founder Robert Scales, the move is meant to “keep costs lean” in an increasingly restrictive economic environment, and to keep the company agile and innovative . And with other companies such as NowPublic experiencing layoffs, perhaps these belt-tightenings are indicators of a broader decline in the fortunes of Vancouver’s tech companies.

But then again, Bootup Labs recent session with serial entrepreneur Brad Feld was a standing room only event,  blogging conference Northern Voice is still going strong, and many other Vancouer companies are digging in and riding out the recession. Though Canada has so far escaped the worst of the recession ravaging our neighour to the south, these recent declines in tech might be a precursor of hard times ahead.