PHOENIX--(BUSINESS WIRE)--To keep its constituents informed on the progress of Arizona’s technology community, the Arizona Technology Council today released the latest update of the 2019 Quarterly Arizona Technology Council Industry Impact Report.
The Arizona Technology Council developed its Industry Impact Report to provide its members, partners and leadership, with a quarterly update on the state’s technology and economic development industry. The report gathers data related to the industry’s progress including technology job creation, risk capital, research and development investment, tax contributions and startup growth.
Findings of the most recent report include:
- Arizona now has more than 9,000 technology companies in operation
- 6,723 technology jobs have been created in Arizona in 2019
- The technology jobs multiplier rose from 2.2 to 2.52. This means that for every technology job, 2.52 jobs outside of the technology industry are created in Arizona.
- Arizona leads the U.S. in average employment in three major technology industries: satellite telecommunications, semiconductor and aerospace. Arizona’s satellite telecommunications industry employment ranks 11 times the national average.
- Tax contributions from Arizona technology companies totaled $32,614,076.
“We have been talking about the explosive growth our technology sector has been experiencing over the last five to 10 years for some time, and the data from this quarterly report is validation,” said Steven Zylstra, president and CEO, Arizona Technology Council. “We can now actually quantify the positive impact of our state’s technology sector on Arizona’s overall economic growth and focus on areas where we need to improve.”
On the Council’s behalf, the quarterly report is conducted by eImpact, an organization that creates web-based, data-reporting solutions designed to help cities, industries and planners drive effective policy, create new growth and engage stakeholders. The report is based on eImpact’s analysis of data from the U.S. Bureau of Labor Statistics, CompTIA, AngelList and others. The complete report is available on the Council’s website here.
About the Arizona Technology Council
The Arizona Technology Council is Arizona’s premier trade association for science and technology companies. Recognized as having a diverse professional business community, Council members work towards furthering the advancement of technology in Arizona through leadership, education, legislation and social action. The Council offers numerous events, educational forums and business conferences that bring together leaders, visionaries and community members to make an impact on the technology industry. These interactions contribute to the Council’s culture of growing member businesses and transforming technology in Arizona. To become a member or to learn more about the Arizona Technology Council, please visit www.aztechcouncil.org.