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Economic Impact of Austin's Technology Sector

Brian Kelsey's presentation at the Austin Technology Council's CEO Summit held on May 8, 2013

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Economic Impact Summary
May 8, 2013
Methodology
2
 Technology sector definition from TechAmerica
Foundation’s annual Cyberstates report
 52 industries—manufacturing, communications,
software, engineering & tech services (R&D)
 Adapted for Austin by including Computer and
Computer Peripheral Equipment and Software
Merchant Wholesalers (Dell, IBM, etc.)
Overview (2012)
3
Austin Tech Share
GRP $97 billion $21 billion 21%
Employment 1,142,396 105,667 9%
Establishments 44,623 3,787 9%
Source: Civic Analytics LLC, EMSI
Tech Jobs Multiplier: 3.5
Austin’s Economic Drivers
Estimated Value Added , 2012 ($B)
4
Source: Civic Analytics LLC, EMSI
$1.41
$1.47
$1.50
$1.62
$1.63
$1.82
$2.68
$2.81
$2.93
$4.88
$0 $1 $2 $3 $4 $5 $6
Lessors of Residential Properties
Offices of Lawyers
General Medical & Surgical Hospitals
Offices of Physicians
Custom Computer Programming
Engineering Services
Crude Petroleum & Natural Gas Extraction
Semiconductor & Related Device Manuf
Electronic Computer Manufacturing
CPE & Software Merchant Wholesalers
Tech
Silicon Hills: Rebranding Time?
Share of Total Employment in Tech Sector (2012)
5
16%
20%
40%
24%
44%
56%
0%
10%
20%
30%
40%
50%
60%
70%
Manufacturing
Dell category
Services
Source: Civic Analytics LLC, EMSI
Jobs: Software/Systems Design Driving Growth
Change in Total Employment, 2001-2012
6
Source: Civic Analytics LLC, EMSI
7,737
5,195
4,253
767
-1,981
-2,322
-6,615
-7,867
-10,000
-8,000
-6,000
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
Computer
Systems Design
Engineering
Services
CPE & Software
Wholesalers
Measuring &
Control
Instruments
Communications
Equipment
Electronic
Components
Computer &
Peripheral
Equipment
Semiconductors
Manufacturing
Services
Ad

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Economic Impact of Austin's Technology Sector

  • 2. Methodology 2  Technology sector definition from TechAmerica Foundation’s annual Cyberstates report  52 industries—manufacturing, communications, software, engineering & tech services (R&D)  Adapted for Austin by including Computer and Computer Peripheral Equipment and Software Merchant Wholesalers (Dell, IBM, etc.)
  • 3. Overview (2012) 3 Austin Tech Share GRP $97 billion $21 billion 21% Employment 1,142,396 105,667 9% Establishments 44,623 3,787 9% Source: Civic Analytics LLC, EMSI Tech Jobs Multiplier: 3.5
  • 4. Austin’s Economic Drivers Estimated Value Added , 2012 ($B) 4 Source: Civic Analytics LLC, EMSI $1.41 $1.47 $1.50 $1.62 $1.63 $1.82 $2.68 $2.81 $2.93 $4.88 $0 $1 $2 $3 $4 $5 $6 Lessors of Residential Properties Offices of Lawyers General Medical & Surgical Hospitals Offices of Physicians Custom Computer Programming Engineering Services Crude Petroleum & Natural Gas Extraction Semiconductor & Related Device Manuf Electronic Computer Manufacturing CPE & Software Merchant Wholesalers Tech
  • 5. Silicon Hills: Rebranding Time? Share of Total Employment in Tech Sector (2012) 5 16% 20% 40% 24% 44% 56% 0% 10% 20% 30% 40% 50% 60% 70% Manufacturing Dell category Services Source: Civic Analytics LLC, EMSI
  • 6. Jobs: Software/Systems Design Driving Growth Change in Total Employment, 2001-2012 6 Source: Civic Analytics LLC, EMSI 7,737 5,195 4,253 767 -1,981 -2,322 -6,615 -7,867 -10,000 -8,000 -6,000 -4,000 -2,000 0 2,000 4,000 6,000 8,000 10,000 Computer Systems Design Engineering Services CPE & Software Wholesalers Measuring & Control Instruments Communications Equipment Electronic Components Computer & Peripheral Equipment Semiconductors Manufacturing Services
  • 7. Key Takeaways 7  Austin is maintaining competitive advantage in traditional strengths and developing new areas of specialization that will drive future growth  Austin economy has diversified but tech is still fuel for wealth creation—e.g., annual earnings estimated to be > 4x City of Austin budget  Talent availability is biggest challenge—Austin expected to have 2,400 openings for software developers 2012-17 and < 25% could be filled with regional graduates at current rate Source: Civic Analytics LLC, EMSI, National Center for Education Statistics