Arizona Technology Council’s Industry Impact Report shows increase in tech companies, wages and jobs in Q1-2021
Strong Innovation During the Pandemic Boosts Arizona’s Growth in Technology
The Arizona Technology Council released its Q1 2021 Arizona Technology Industry Impact Report today, providing key insight into the growth of the state’s technology sector. The new report shows technology jobs increased by 3.6%, industry wages grew by 3.07% and the number of technology companies in Arizona expanded by 4.3%, all in the last year. Additionally, job postings in technology for Q1 2021 have nearly hit the high-water mark set in July 2019, a leading indicator of the robust bounce back from the pandemic.
“Arizona’s technology industry experienced strong growth in the first quarter of 2021, continuing the trend experienced throughout 2020,” said Steven G. Zylstra, the Council’s president and CEO. “As other industries seem to be recovering from the impact of the pandemic, technology in Arizona remains a beacon.”
The state’s technology sector is also strengthening its position as a job creator across other industries. In Q1 2021 the industry job multiplier stood at 3.76, meaning that for every 100 jobs added in the technology industry, 376 new jobs were created in other industries. The growth in technology diversity has also seen some positive signs: African Americans in the technology workforce grew by 3.61% from 2019 to 2020. However, there is still a great deal of work to do in the area of diversity, as women in the technology workforce dropped by 2.5% over the same period.
Additional findings of the Q1 2021 report include:
- Total technology industry wages – $23,187,148,532
- Technology jobs – 204,161
- Total technology firms – 10,093
- Arizona leads the nation for employment across these industries:
- Satellite telecommunications
- Semiconductor and other electronic component manufacturing
- Aerospace product and parts manufacturing
In addition to the data, the Council supplements its report with published works, blog and interviews highlighting Arizona technology industry leaders and organizations across a wide range of sectors. The content features highlights and news from Arizona’s technology community, personal stories, and more.
On the Council’s behalf, the quarterly report is compiled 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 Emsi, Brookings Institution, CompTIA, AngelList, National Science Board and others. Molly Castelazo, CEO and chief content strategist of Castelazo Content, also partnered with the Council to organize and curate the supplemental content, update the report design and create the infographic.
Download or view the complete report on the Council website here. The report can also be found on www.aztechbase.com.
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.