Austin Economic Study: Tech Contributes $21B
Posted 5/6/2013 3:23:00 PM

AUSTIN, TX--(Marketwired - May 6, 2013) - The Austin Technology Council (ATC) today released the results of its Technology Economic Impact Report which reveals not only the incredible impact the technology industry has made on Austin's economy, but also the growing talent gap. The Impact Report finds technology is generating billions of dollars annually and driving more than a quarter of Austin's local economy. With nearly 80 percent of all technology companies in Austin expecting to hire this year, and more than 10,000 new tech jobs anticipated before 2017, Austin will be strengthening the local talent pipeline to meet these demands. ATC will be hosting its 3rd Annual CEO Summit Wednesday at ACL Live at the Moody Theater, where technology CEOs from Texas and beyond will gather to discuss the findings from the Impact Report, as well as the future of the city's technology sector.

"The Austin technology sector drives $21 billion annually into the local economy," said Joel Trammell, chairman of the Austin Technology Council. "While we are energized by the impact this contribution has on the region, we must also focus on ensuring the region has an adequate talent supply to sustain our growth. Tech must invest in aggressive recruiting and training methods."

With "Setting the Tech Agenda for Central Texas" as its theme, ATC's 2013 CEO Summit is dissecting the results of this unprecedented report and what it means for Austin's future in innovative technology. This discussion comes at a critically important time now that the technology sector is revealed to be a significant driver in giving Austin the third lowest rate of unemployment in the country. Data released last week by the U.S. Bureau of Labor and Statistics revealed the Austin area had the greatest year-to-year increase in employment of any metropolitan area in the U.S.

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Posted By: Producer Thomas  

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