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TAG Luncheon: State of Technology
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TAG Luncheon: State of Technology

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The Technology Alliance’s economic impact report comprehensively measures the contribution of innovation-driven industries on jobs, exports, tax revenues, and associated economic activity in ...

The Technology Alliance’s economic impact report comprehensively measures the contribution of innovation-driven industries on jobs, exports, tax revenues, and associated economic activity in Washington State. This periodic report – the only one of its kind in the state – tracks the tremendous growth of high-impact tech jobs and reveals important changes with far-reaching implications for our economic future, including the explosion in software and computer services employment, the shift from manufacturing to services, and the increasing share of total jobs supported by innovation. State and local leaders need to fully grasp the impact of our innovative industries and the challenges ahead to ensure that the trajectory of high-impact job growth will continue and that Washington’s citizens fully benefit from the innovation economy.

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TAG Luncheon: State of Technology TAG Luncheon: State of Technology Presentation Transcript

  • The State of Technology INNOVATION OPPORTUNITY IMPACT Susannah Malarkey Executive Director, Technology Alliance
  • Thought leaders for a strong innovation economy.
  • Our focus: 3 drivers of economic success. Excellent K-12 & higher education systems Strong research & commercialization Robust entrepreneurial climate
  • What we do: inspire, connect, and inform. Inspire appreciation and support for our world-class research institutions Create a more connected innovation community to advance commercialization Inform policy & business leaders about the impact of our innovative sectors
  • Innovation is in our nature. Industry Break-down of Technology-Based Employment University & Federal Research Waste Treatment & Remediation Chemicals & Petroleum Management of Companies Machinery & Enterprises Computers & Electrical Equipment Manufacturing Scientific R&D Management & Technical Aerospace & Consulting Motor Vehicle Architecture & Manufacturing Engineering Electronic Software, Computer Data Processing Shopping Telecommunications Systems & Other Info. Design Commercial Services Equipment Merchant Wholesalers Total Tech-Based Jobs=434,343 Source: William B. Beyers/Technology Alliance, The Economic Impact of Technology-based Industries in Washington State, 2012
  • Tech industries are growing. Private Sector Technology-based Employment, 1988-2011 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1988 1990 1992 1994 1996 1998 2000 2002 2007 2009 2011 Other Tech Software/Computer Services Aerospace Source: William B. Beyers/Technology Alliance, The Economic Impact of Technology-based Industries in Washington State, 2012
  • Tech industries create jobs across our state. Direct Technology-based Employment, by County 6,076 2,551 5,525 60,866 13,454 247,958 14,146 3,499 4,046 2,404 1,537 20,256 1,141 13,709 > 10,000 1,000–10,000 251–1,000 101–250 < 100 Source: William B. Beyers/Technology Alliance, The Economic Impact of Technology-based Industries in Washington State, 2012
  • Tech industries are high-impact. Labor $94,531 Income $49,829 Out-of- 76% State Sales 27% Job 3.32 Multiplier 2.33 Non-tech industries Indicators of Economic Activity: Tech-Based vs. All Other Industries Source: William B. Beyers/Technology Alliance, The Economic Impact of Technology-based Industries in Washington State, 2012
  • Tech industries create jobs across our economy. 1,441,721 Services 1,007,378 748,945 494,343 Trade Other 176,251 48,463 Tech- Total based Indirect Jobs Manufacturing 33,719 Jobs Jobs Impact Tech-Based Job Impacts in Washington State Source: William B. Beyers/Technology Alliance, The Economic Impact of Technology-based Industries in Washington State, 2012
  • Our vision for Washington’s future success: Washington will be home to the best educated, most innovative workforce in the nation, and the most attractive location in which to start, grow and sustain the innovative companies that create new, high-impact jobs.
  • Workforce: Washington’s got talent. 2 1 5 5 8 Intensity of Engineers Computer Life & % of payroll S&E workforce specialists Physical in high tech Scientists NAICS Washington’s National Ranking: Innovative Workforce (Various Years) Sources: National Science Foundation, Science & Engineering Indicators, 2012; Milken Institute, State Technology & Science Index, 2011
  • But… we’ve also got a mismatch. Washington’s National Ranking: Degree Production (Various Years) 32 37 45 45 44 NS&E Total Engineering Computer S&E graduate bachelor’s bachelor’s degrees science degrees program production production per 1,000 per 1,000 participation occupations occupations Sources: National Science Foundation, Science & Engineering Indicators, 2012; National Council on Higher Education Management Systems.
  • And… we have disinvested in talent. Major State Budget Components, % Change in General Fund Appropriations 2007-09 Biennium to 2012 Supplemental (Higher Education includes Opportunity Pathways Account) +5% 0 -5% -10% -15% -20% -25% -30% Total State Higher Education Human Services K-12 Source: Washington State Higher Education Coordinating Board, 2012
  • We need to grow our STEM programs. Annual STEM Degree Production and Projected Annual Job Openings (Washington State, 2008-2018) 6,900 STEM Bachelor’s 4,400 4,700 Production 2,200 Gap 2,500 STEM STEM STEM Annual Bachelor’s Graduates Graduates STEM Job Working Graduates, 20 Working in Openings 09 Outside of STEM STEM Source: McKinsey & Company (Special Analysis for the Technology Alliance), 2012
  • Our partners: advancing the innovation agenda. Innovation Coalition: the unified voice of the statewide innovation community TA Associates: a regional network supporting innovation centers across the state
  • Questions?susannahm@technology-alliance.com www.technology-alliance.com