July 30, 2019 (Salt Lake City) – Utah’s tech industry made significant contributions to the state economy in 2018, supporting one in seven Utah jobs and one-sixth of worker earnings in the state. The economic activity generated over $2.5 billion in tax revenue to help fund schools and other government services.
“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,” said Levi Pace, senior research economist at the Gardner Institute and lead author of the report. “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.”
The report builds upon preliminary and summary results released earlier in the year by the Gardner Institute and includes updated figures for 2018, fiscal impacts of tax revenue generated by the tech economy, an analysis of tech-related industries, profiles of tech occupations and tech worker demographics, and a closer look at how Utah’s tech sector growth compares to other states. Highlights from the new report include: