Post on 07-May-2015
description
Economic Impact SummaryMay 8, 2013
Methodology
2
Technology sector definition from TechAmerica Foundation’s annual Cyberstates report
52 industries—manufacturing, communications, software, engineering & tech services (R&D)
Adapted for Austin by including Computer and Computer Peripheral Equipment and Software Merchant Wholesalers (Dell, IBM, etc.)
Overview (2012)
3
Austin TechShar
e
GRP$97
billion$21
billion 21%
Employment1,142,39
6 105,667 9%Establishments 44,623 3,787 9%Source: Civic Analytics LLC, EMSITech Jobs Multiplier: 3.5
Austin’s Economic DriversEstimated Value Added , 2012 ($B)
4
Source: Civic Analytics LLC, EMSI
Lessors of Residential Properties
Offices of Lawyers
General Medical & Surgical Hospitals
Offices of Physicians
Custom Computer Programming
Engineering Services
Crude Petroleum & Natural Gas Extraction
Semiconductor & Related Device Manuf
Electronic Computer Manufacturing
CPE & Software Merchant Wholesalers
$0 $1 $2 $3 $4 $5 $6
$1.41
$1.47
$1.50
$1.62
$1.63
$1.82
$2.68
$2.81
$2.93
$4.88
Tech
Silicon Hills: Rebranding Time?Share of Total Employment in Tech Sector (2012)
5
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012-10%
0%
10%
20%
30%
40%
50%
60%
70%
16%
20%
40%
24%
44%
56%
Manufacturing
Dell cate-gory
Services
Source: Civic Analytics LLC, EMSI
Jobs: Software/Systems Design Driving GrowthChange in Total Employment, 2001-2012
6
Source: Civic Analytics LLC, EMSI
Compu
ter S
yste
ms D
esig
n
Engi
neer
ing
Serv
ices
CPE &
Sof
twar
e W
hole
sale
rs
Mea
surin
g & C
ontro
l Ins
trum
ents
Comm
unicat
ions
Equ
ipm
ent
Elec
troni
c Com
pone
nts
Compu
ter &
Per
iphe
ral E
quip
men
t
Sem
icon
duct
ors
-10,000
-8,000
-6,000
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
7,737
5,1954,253
767
-1,981 -2,322
-6,615
-7,867
Manufacturing
Services
Key Takeaways
7
Austin is maintaining competitive advantage in traditional strengths and developing new areas of specialization that will drive future growth
Austin economy has diversified but tech is still fuel for wealth creation—e.g., annual earnings estimated to be > 4x City of Austin budget
Talent availability is biggest challenge—Austin expected to have 2,400 openings for software developers 2012-17 and < 25% could be filled with regional graduates at current rate
Source: Civic Analytics LLC, EMSI, National Center for Education Statistics