ATC Study Finds Austin’s Tech Industry Contributes $21 Billion

GettyImages_107720756How big an impact does the technology industry have in Austin?
The Austin Technology Council’s Technology Economic Impact Report released on Monday puts the figure at $21 billion.
And the bulk or 80 percent of the city’s technology companies plan to hire new employees this year resulting in the creation of 10,000 new jobs, according to the report.
The report is being released in advance of the ATC’s third annual CEO Summit which takes place on Wednesday at the ACL Live at the Moody Theater. CEOS and high-level technology executives from Central Texas are expected to gather for the event to discuss the report, including a shortage of tech workers and other issues affecting the local technology industry.
The tech industry “must invest in aggressive recruiting and training methods,” according to Joel Trammel, chairman of the ATC.
Recruiting and retaining tech talent will be a major focus of the CEO Summit.
“So much of Austin’s economy is dependent on tech,” Julie Huls, President and CEO of ATC said in a news release. “Technology has a responsibility to the community – not only to create jobs, but to invest in building a sustainable engine for growth. Just as any dynamic business, Austin must now refine our strategy to be a national drive for innovation.”
The fastest growing tech sectors in Central Texas from 2012 to 2017 are engineering services, computer and computer peripheral equipment and software merchant wholesalers and customer computer programming services, according to the ATC report. The jobs most in demand include computer systems analysts, software developers for applications and systems and computer support specialists.

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