February 25, 2019 (Salt Lake City) – The Kem C. Gardner Policy Institute today released preliminary results of a first-of-its-kind economic study of Utah’s tech and innovation economy. The research, which was shared today on Utah’s Capitol Hill, shows Utah’s tech economy supports one in seven Utah jobs, pays annual compensation 75 percent higher than other industries, and has increased employment at more than twice the national rate over the past decade.
“Utah’s tech companies compete on a big stage when it comes to software, IT services, devices, and e-commerce,” said Levi Pace, senior research analyst at the Gardner Policy Institute and lead researcher on the pathbreaking study. “From startups to billion-dollar valuations, Silicon Slopes’ companies connect Utah to the global innovation economy and are a key component of Utah’s recent economic success.”
Highlights from the research include the following:
- Utah and U.S. job growth – Job growth in Utah’s tech industry averaged 3.6 percent a year from 2007 to 2017, more than