Utah continues to show incredible growth from the tech industry with a signifigant flow of revenue streaming into the state economy. Utah Tech companies provided 118,600 high-paying jobs for the state in 2018. These statistics are from a recent report delivered by the Kem C. Gardner Policy Institute and the report offers some further statistics regarding major contributions from tech, with one in seven Utah jobs and one-sixth of worker earnings in the state coming from the tech sector.
Tech companies and their employees generated a total of $2.5 billion in tax revenue for the state of Utah, $1.7 billion in state taxes and $0.8 billion in local taxes during the year 2018. This money has been utilized to invest in government services and help build schools. Utah’s steady 10 year job growth from 2008 to 2018 is the 3rd largest in the country, at 4.9 percent per year.
The full report is now available online.
Serving Utah by preparing economic, demographic and public policy research, the Kem C. Gardner Policy Institute conducts research analysis and acts as specialists on public policy and survey research. Levi Pace, the senior research economist the Gardner Institute said “In terms of total employment and wages in the private sector, no state with an economy of Utah’s size had a larger tech industry in 2018, While we focus on jobs and earnings of the tech industry itself, our research also explores the workforce in tech occupations, regardless of industry. This comprehensive approach results in a first of its kind and landmark report on Utah’s tech economy that will help industry leaders and policy makers make informed decisions.”