Skoorb,
Here are some *major* cities that play a role in IT employment in Ontario:
Ottawa -- Known as the "Silcone Valley North" (sort of, but you get the idea), it is rich in IT and is the location of a lot of the major North American companies/firms head offices'.
Toronto -- Per capita, not quite as good as Ottawa, but it's not TOO hard ot find a job, with a good bit of experience.
Mississauga -- Sort of west of Toronto's main core. This are is BOOMING right now, growing very fast! Most major Canadian companies or other global firms (Canadian offices) are located in this area. Lots of jobs here, plus it's not as "dirty" as a lot of parts of Toronto.
Kitchener/Waterloo/Cambridge -- Don`t know too much about them, but I have heard good things about the IT market in these cities. Although, the cities themselves are pretty bland. But, that's just my opinion.
London -- Not too bad, very nice city, especially if you are in your 20's! IT ain`t too bad there either.
Kingston -- Not booming, but not dying. Two major privately owned ISP's there - Kingston.net and IGS. I know the owner of Kingston.net, and they are doing very well... e-mail them to see what they think of IT in Kingston. I won`t go without saying that Kingston and surrounding area is very nice, especially if you are into cottages on islands, island hoping, watersports, etc. Summers are great there!
Good luck, and keep us posted!
Cheers!