Saturday, May 25, 2019

Economic Impact Report Detailing Growth of Arizonas Technology Sector Released by Arizona Technology Council

BWW News Desk
May 16, 2019

To keep its constituents uptodate on the advances in Arizonas technology community the a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwaztechcouncilorgampesheet51986251ampnewsitemid20190516005961amplanenUSampanchorArizonaTechnologyCouncilampindex1ampmd5bfe3be5a26e97bf1bc00392f7f25fef0 relnofollowArizona Technology Councila today announced the latest update of the 2019 Quarterly a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Faztceimpactv2report2Freports2Fembed2F5b1a9ee7397e2633006a2de93Fref3Dc1ba3a5838faecf220f1a58a4b0e6142ampesheet51986251ampnewsitemid20190516005961amplanenUSampanchorArizonaTechnologyCouncilIndustryImpactReportampindex2ampmd564df926a788837957080f6fb30203416 relnofollowArizona Technology Council Industry Impact Reporta The report reveals an increase in technology career wages number of jobs venture capital new technology companiesstartups and Small Business Innovation Research SBIR awards pblockquotep idpullquotepblockquote p The quarterly report is conducted by a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Feimpactreport2Fampesheet51986251ampnewsitemid20190516005961amplanenUSampanchoreImpactampindex3ampmd54c6e4760de9677140e0d612119524561 relnofolloweImpacta an organization that creates webbased datareporting solutions designed to help cities industries and planners drive effective policy create new growth and engage stakeholders p p Our new eImpact report shows tremendous growth in our states technology sector from the time when it was introduced in June 2018 said Steven G Zylstra the Councils president and CEO We commissioned the report to provide frequent updates on the economic payoff of our initiatives and gain comprehensive data on where we should be devoting resources Seeing the growth metrics of Arizonas technology sector over the last year has been rewarding validation of the efforts of Arizonas entire business ecosystem p p Arizonas technology community has seen a 52 percent wage growth during the past year giving Arizona 20 percent higher technology wages than the national average A 29 percent job growth also occurred during the same period ranking Arizona second for employment growth in the Southwest Additionally venture capital investment in Arizona went from under 300 million in 2017 to 539 million in 2018 p p bHighlights of the report also includeb p ul li classbwlistitemmargb The Arizona technology community created 177528 jobs during the past year li li classbwlistitemmargb Arizona technology companies contributed 345 million in total taxes li li classbwlistitemmargb There was a 16 percent growth in startups and technology companies listed in Arizona li li classbwlistitemmargb There are 2561 startups in Arizona listed on AngelList and an average valuation of 37 million li li classbwlistitemmargb SBIR awards in the state nearly doubled from 19 million to 37 million li ul p The Council advocates on behalf of its membership for policies that propel success and sustainability Recent initiatives have contributed significantly to the states protechnology business climate including the signing of SB 1085 to provide better healthcare options for small business and startups recapitalization of the Angel Investment Tax Credit the extension and continued expansion of the RampD Tax Credit program until 2021 and legislation that improves STEM education and increased pay for educators p p The Arizona Technology Report is based on eImpacts analysis of data from the US Bureau of Labor Statistics CompTIA AngelList and others The complete report is available on the Councils website a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Faztceimpactv2report2Freports2Fembed2F5b1a9ee7397e2633006a2de93Fref3Dc1ba3a5838faecf220f1a58a4b0e6142ampesheet51986251ampnewsitemid20190516005961amplanenUSampanchorhereampindex4ampmd5736e17c3ba3b1cf42c6c65b4987e05bd relnofollowherea p p bAbout the Arizona Technology Councilb p p The Arizona Technology Council is Arizonas 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 Councils 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 a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwaztechcouncilorgampesheet51986251ampnewsitemid20190516005961amplanenUSampanchorwwwaztechcouncilorgampindex5ampmd51af79b923c995e183f273524624e08f4 relnofollowwwwaztechcouncilorga p p classbwalignc p pimg referrerpolicyunsafeurl alt srchttpsctsbusinesswirecomctCTidbwnewsampsty20190516005961r1ampsidweb02ampdistronxamplangen stylewidth0height0span classbwct31415p

SOURCE: BUSINESS WIRE. ©2015 Business Wire

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