Utah’s tech industry has shown incredible growth in the last decade. From 2007 – 2017, job growth within Utah’s tech industry averaged at 3.6 percent a year. This is more than double the national average of employment growth within the tech industry. This is according to a study released by The Kem C. Gardner Policy Institute released earlier today, as part of the Utah Governor’s Office of Economic Development’s “Tech Day on the Hill.”
The Utah Legislature funded the research so decision-makers could better understand the contributions of this important industry.
The economic impact of the tech industry in Utah has been exceptional. Companies paid $20.1 billion in earning and they generated an estimate of $29.9 billion in GDP. That is incredible growth. In 2017, Utah exceeded 302,000 in jobs from these same companies.
According to this study, nearly 186,000 Utah jobs from industries outside of tech were supported. I’d like to know more details about where this money was spent locally and how it was redirected into our economy, yet these numbers are promising.
There were contributions from multiple Utah associations to create this study. Utah Technology Council, Silicon Slopes, and Women Tech Council contributed alongside Utah Department of Workforce Services, EDCUtah and the Utah Governor’s Office of Economic Development.