Report: Minnesota’s Tech Industry Employs 140k, Ranked 17th In Nation

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Via News Release

“MINNEAPOLIS – The Minnesota technology industry added nearly 5,500 jobs in 2015 bringing the total tech employment in the state to more than 140,000, ranking it 17th in the country according to Cyberstates 2016: The Definitive State-by-State Analysis of the U.S. Tech Industry published by the Computing Technology Industry Association (CompTIA).”

The technology industry in Minnesota continues to be a major contributor to the state’s overall economy accounting for an estimated 7.5 percent of the state gross product. The average technology worker in the state has an annual salary of $93,500, 78 percent higher than that of the average private sector worker.

“The U.S. tech industry is a major driving force in the overall economy, accounting for 7.1 percent of overall GDP and 11.6 percent of total private sector payroll,” said Todd Thibodeaux, president and CEO, CompTIA. “The tremendous level of ongoing innovation in the industry, making technology more affordable and accessible to more users, has us encouraged about growth prospects for 2016 and beyond.”

“Minnesota’s tech industry continues to show strong growth, and with more than 20,000 postings for open tech jobs in the fourth quarter of 2015, there is even more potential for future growth,” said Margaret Anderson Kelliher, President & CEO of the Minnesota High Tech Association (MHTA). “We need to continue efforts to ensure our great Minnesota tech companies — from small to large — can find the talent they need to be successful.”

Cyberstates represents a comprehensive look at tech employment, wages, and other key economic factors nationally and state-by-state, covering all 50 states and the District of Columbia. Now in its 17th edition, Cyberstates 2016 relies primarily on data from the U.S. Bureau of Labor Statistics. The report provides 2015 national and state-by-state data on tech employment, wages, establishments, payroll, wage differential, employment concentration, economic output, and job openings. All data are the most recent available at the time of production. The BLS data is preliminary and subject to revision.

Key Minnesota Findings from Cyberstates 2015

· 141,934 tech industry workers in 2015

· 5,475 net jobs added between 2014 and 2015

· Tech firms employed 5.9 percent of private sector workers in 2015

· Tech industry workers earned an average wage of $93,500, 78 percent more than the average private sector wage

· A tech industry payroll of $13.3 billion in 2015.

· 9,418 tech establishments in 2015

· 20,300 postings for tech occupational job openings in Q4 2015 — a 45 percent year-over-year

· 7.5 percent estimated direct contribution of the tech sector to the Minnesota economy.

The full report and state level data is available at http://www.cyberstates.org/

About CompTIA

The Computing Technology Industry Association (CompTIA) is a non-profit trade association serving as the voice of the technology industry. With approximately 2,000 member companies, 3,000 academic and training partners, 70,000 registered users and more than two million IT certifications issued, CompTIA is dedicated to advancing industry growth through educational programs, market research, networking events, professional certifications and public policy advocacy. To learn more, visit CompTIA online, Facebook, LinkedIn and Twitter.

About CompTIA Advocacy

Through its advocacy arm, CompTIA champions member-driven business and IT priorities that impact all information technology companies – from small managed solutions providers and software developers to large equipment manufacturers and communications service providers. CompTIA gives eyes, ears and a voice to technology companies, informing them of policy developments – and providing the means to do something about it.

About the Minnesota High Tech Association (MHTA)

MHTA is an innovation and technology association united in fueling Minnesota’s prosperity and making Minnesota a top five technology state. We help bring together the people of Minnesota’s technology ecosystem and lead the charge in directing technology issues to Minnesota’s state capitol. MHTA is the only membership organization that represents Minnesota’s entire technology-based economy. MHTA members include organizations of every size − involved in virtually every aspect of technology creation, production, application and education in Minnesota. Find out more online at http://www.mhta.org or follow MHTA on Twitter at http://twitter.com/MHTA.

Comments

  • http://tech.mn Jeff Pesek

    Here’s a visual overview of Minnesota:

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