June 12, 2014

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Utah Tech Industry Continues to Sizzle

Rachel Madison

June 12, 2014

Salt Lake City – Utah’s technology industry is continuing on an upward swing according to data released Wednesday by the Utah Technology Council.

The UTC releases information regarding the state’s technology industry annually in June. The data released Wednesday highlights the growth from September 2012 to September 2013 and is gathered from various institutions, including the U.S. Department of Labor, U.S. Census Bureau and Utah Department of Workforce Services.

Richard Nelson, president and CEO of the UTC, said the most impressive thing that came from this year’s data is the fact that Utah is home to a total of 5,043 technology companies—up 6.3 percent from 2012. That equals out to be 298 new companies in the state.

This growth has also resulted in the creation of 3,737 new technology jobs, according to the data. Nelson said growth of approximately 17 percent is occurring for electronic computer manufacturing, electronic shopping, software publishing and internet publishing and broadcasting.

“There are now close to 70,000 direct jobs in Utah’s technology companies, and that doesn’t count the many more jobs in the IT departments of basically every company in the state,” Nelson said.

He added that tech jobs average 65.7 percent above the average wage in the state, represent 5.6 percent of total jobs in the state, and represent 9.3 of the state’s total payroll.

“In 2012, the total wages paid was $4.3 billion and in 2013 it was $4.7 billion, so that shows an increase of $400 million in wages for those 70,000 jobs,” Nelson said. “So where’s the action? Where’s the growth engine in the state? It’s all about these technology jobs.”

The UTC also broke down the number of tech companies by county. Salt Lake County showed the highest percentage of growth — 8.3 percent — from 2012 to 2013. A total of 216 new companies moved into the county in 2013, making it the county in Utah with the highest number of technology companies (2,833 or 56.2 percent). Just behind Salt Lake County is Davis County, which experienced a growth of 6.2 percent with the addition of 21 new companies. Utah County has the second highest number of technology companies in the state after Salt Lake County with 976.

“Utah County is a hot county,” Nelson said. “They’re creating a lot of new companies. You can see what’s going on in Thanksgiving Point; it’s just [amazing].”

Other findings in the data concluded that Utah is 40 percent higher than the national total in technology establishments per capita, and Utah is 21 percent higher than the national total in technology employment per capita.

“This growth isn’t happening in other parts of the country,” Nelson said. “There are a few other pockets, and fortunately we happen to be one of the hot pockets in the country in growth.”

Utah Business Social
UB Events View All
Content Marketing BootcampUtah Business Event
Oct 28, 2014
Please join Utah Business Magazine and Adobe, along with our other sponsors: Boostability, Right ...
Sustainable Business Awards 2014Utah Business Event
Nov 13, 2014
Utah Business magazine along with presenting sponsor Big D Construction, is pleased to announce t...
Best Companies to Work For 2014Utah Business Event
Dec 11, 2014
Utah Business magazine along with our sponsors Diversified Insurance and Miller Motor Sports Park...
Community Events View All
2014 Wicked Halloween 5K and Family Expo
Oct 25, 2014
Calling all witches, ghosts, vampires and werewolves! Join us on October 25th at Memory Grove Par...
St. George Book Festival - Book Expo Extravaganza!
Oct 25, 2014
What to Except: * Readers of all ages and genres will get a chance to meet dozens of prolific au...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel