Great Good Not a Year Year Good Year -200 -100 100 200 300 - - PowerPoint PPT Presentation

Old School Flash Survey

What Kind of Year was last year for Your Organization?

Great Year Good Year Not a Good Year

USA Nonfarm Payroll Employment

• 200
• 100

100 200 300 400 500 600

2010-Jan March May July Sept Nov 2011-Jan March May July Sept Nov 2012-Jan March May July Sept Nov 2013-Jan March May July Sept Nov 2014-Jan March May July Sept Nov 2015-Jan March May July Sept Nov 2016-Jan March May July Sept Nov 2017-Jan March May July Sept Nov 2018 -Jan March May July Sept Nov 2019-Jan March May July Sept November

111 Straight Months of Employment Growth-Since September 2010, the Longest Continuous Private Job Growth in Our History

Source: US Bureau of Labor Statistics

13 13 12

2 4 6 8 10 12 14

One Year Five Year Ten Year

North Carolina Rank

Neighbor’s Rank

1 Year 5 Year 10 Year

SC 4 9 11 TN 15 14 19 VA 19 21 27 GA 11 10 18 FL 8 4 26

% Job Growth By State Rankings

9 10 18

2 4 6 8 10 12 14 16 18 20 One Year Five Year Ten Year

North Carolina Rank

Neighbors Rank

1 Year 5 Year 10 Year

SC 50 38 22 TN 26 22 24 VA 33 39 35 GA 41 21 30 FL 24 20 8

% Wage Growth By State Rankings

12 15 31

5 10 15 20 25 30 35

One Year Five Year Ten Year

North Carolina Rank

Neighbors Rank

1 Year 5 Year 10 Year

SC 35 12 18 TN 11 14 12 VA 13 34 28 GA 16 8 13 FL 5 6 22

% GDP Growth By State Rankings

Technology Data

• 87 separate 6-digit NAICS code sectors to characterize the Total Technology

Sector

• The Total Technology Sector was further broken down into four sub-

categories:

• Energy Technology
• Environmental Technology
• Life Sciences
• IT, Telecom, Hardware & Software (Tech Core)
• 65 separate 5-digit Standard Occupational Classification (SOC) codes

Economic Modeling Specialists International (EMSI), based on the Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages

Methodology

The Difference Between Tech Industry Workers and Tech Occupational Workers

87 separate 6-digit NAICS 65 separate 5-digit (SOC) codes

Employees

266,567

Establishments

20,074 Tech Industry in North Carolina - 2018

6.0% 7.2%

Percentage of Total North Carolina Economy

Wages

$29,729,000

11.7%

5-Year Growth Rates for North Carolina’s Total Tech Sector, 2013-2018

2.2% 8.9% 11.0% 7.7% 6.7% 8.3% 7.1% 13.8% 20.5% 17.4% 17.2% 20.8%

0% 5% 10% 15% 20% 25% 2008-2013 2009-2014 2010-2015 2011-2016 2012-2017 2013-2018

North Carolina United States

Total Tech Sector Growth Rate 2018 4.9% 3.2%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% North Carolina United States

North Carolina Total Tech Establishments, 2013-2018

3,674 Net New Tech Establishments Over the Past 6 Years

16,400 17,230 18,220 18,870 19,371 20,074

2013 2014 2015 2016 2017 2018

Energy Tech

13,732

Environmental Tech

24,038

Makeup of Tech Industry

Life Sciences

86,832 5% 9% 33%

Percentage of Total North Carolina Tech Sector

IT 141,965 53%

North Carolina’s Technology Industry by Sub-Categories 2018

Tech Category Employment 2018 Change 2017-2018 Change 2013-2018 Establishments 2018 Energy Tech 13,732 4.0% 14.6% 472 Environmental Tech 24,038 3.8% 16.8% 1,561 Life Sciences 86,832 8.0% 20.9% 4,841 IT 141,965 3.3% 22.0% 13,200

North Carolina’s Technology Industry by Sub-Categories 2018

Tech Category Employment 2018 Change 2017-2018 Change 2013-2018 Establishments 2018 Energy Tech 13,732 4.0% 14.6% 472 Environmental Tech 24,038 3.8% 16.8% 1,561 Life Sciences 86,832 8.0% 20.9% 4,841 IT 141,965 3.3% 22.0% 13,200

North Carolina Tech Sub-Sector 5-Year Growth Trends

9.9% 17.7% 25.5% 21.4% 17.0% 16.8% 0.6% 8.8% 15.7% 14.5% 12.3% 14.6% 4.1% 4.4% 8.6% 9.6% 12.0% 20.9% 9.3% 20.0% 28.4% 22.0% 21.1% 22.0% 0% 5% 10% 15% 20% 25% 30% 2008-2013 2009-2014 2010-2015 2011-2016 2012-2017 2013-2018

IT

Life Sciences Enviro Tech Energy Tech

North Carolina’s Technology Industry by Sub-Categories 2018

Tech Category Employment, 2018 Change, 2017-2018 Change 2013-2018 Establishments 2018 Tech Services 201,397 5.8% 29.0% 19,334 Tech Manufacturing 65,170 2.1% 0.9% 740 Total Tech 266,567 4.9% 20.8% 20,074

Tech Industry Jobs by County in North Carolina

Average Annual Earnings per Worker by Subsector, 2018

Tech Category North Carolina North Carolina (With Purchasing Power) National Average Energy Tech $131,600 $144,200 $149,500 Environmental Tech $99,800 $109,300 $82,200 Life Sciences $114,800 $125,800 $128,900 IT $124,000 $135,900 $145,900

Average Annual Earnings for Tech Sector Employees, 2018 Adjusted for Purchasing Power

$130,602 $136,496

$0 $40,000 $80,000 $120,000 $160,000 South Dakota Hawaii Maine Nebraska Montana Vermont Mississippi Nevada Florida South Carolina Kentucky Arkansas Utah New Mexico Wisconsin Kansas Rhode Island Wyoming Ohio Tennessee Iowa West Virginia New Hampshire Missouri Arizona Maryland New York Connecticut Alabama Minnesota Louisiana Idaho Michigan Delaware Oklahoma Indiana District of Columbia Georgia Colorado Pennsylvania Alaska Virginia North Carolina Oregon New Jersey Illinois North Dakota United States Texas Massachusetts Washington California

NC Ranks 9th

Total Tech 1-Year Earnings Growth, Inflation and Purchasing Power Adjusted, 2013-2018

1.8% 2.7%

• 1.3%

1.2% 3.4% 1.9% 3.6%

• 0.1%

1.8% 1.7%

• 2%
• 1%

0% 1% 2% 3% 4% 5% 6% 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 United States North Carolina

Tech Sector Contribution to State Economy, 2018

Direct Impact 266,570 Jobs 6% Indirect & Induced Impact 625,400 Jobs 14% Remaining Economy 3,518,830 Jobs 80% Direct Impact $29,700M wages 12% Indirect & Induced Impact $30,000M wages 12% Remaining Economy $194,400M wages 76%

20% of Jobs 24% of Wages

Long Term Technology Sector Trends (Percentage Change in Employment Post 2001)

75 100 125 150 2001 2004 2007 2010 2013 2016 2019 2022 2025 2028 American South United States North Carolina

Tech Sector Employment Growth, 2013-2018

8.3% 20.8%

• 30%
• 20%
• 10%

0% 10% 20% 30% 40% 50%

Alaska Wyoming West Virginia Arkansas North Dakota Delaware Kansas Louisiana Kentucky Vermont Oklahoma Mississippi Rhode Island Connecticut Montana Hawaii New Mexico Texas New Jersey Iowa Virginia Alabama Indiana Illinois Minnesota Pennsylvania Ohio Maryland Nebraska United States Tennessee Wisconsin Georgia Colorado Missouri South Dakota Michigan Arizona New York California Oregon Massachusetts Maine District of Columbia Utah South Carolina Florida New Hampshire Idaho North Carolina Washington Nevada

NC Ranks 3rd

Top 10 Ranked 11 - 40 Ranked 41 - 50

Tech Sector Employment Growth, 2013-2018

IT Sector Employment Growth, 2013-2018

14.6% 22.0% 37.0%

• 20%
• 10%

0% 10% 20% 30% 40% 50% Arkansas New Mexico Kansas Rhode Island Kentucky Vermont Alaska Delaware Mississippi West Virginia North Dakota Iowa Hawaii New Jersey Connecticut Oklahoma Minnesota Indiana Alabama Wyoming Virginia South Dakota Ohio Maryland Pennsylvania Illinois Massachusetts Georgia Oregon Michigan Tennessee Wisconsin Montana Nebraska United States Arizona Texas Missouri Louisiana Florida Colorado Maine New York Idaho New Hampshire North Carolina South Carolina District of Columbia Utah California Washington Nevada

NC Ranks 6th

Top 10 Ranked 11 - 40 Ranked 41 - 50

Expected Tech Sector Employment Growth 2019-2024

Tech Occupations in North Carolina 2018 Total Tech Occupation Jobs 308,070 Median Hourly Wage $38.84 2013-2018 Employment Change 24.5%

Staffing Patterns of Tech Industries & Tech Occupations, 2018 Tech Industry Jobs

266,570

Tech Occupation Jobs

308,070

38% of tech

• ccupation jobs

are employed in tech industries.

Top Four Tech Occupations

Business Operation Specialists 30,650 Software Developers, Applications 31,211 Computer User Support Specialists 22,697

10.1% 9.9% 8.5%

Computer Systems Analysts 26,231

7.4%

55% 19% 28% 26%

Employment Growth Rate, 2013-2018 $48.37 $32.54 $43.37 $23.22

Top 10 Ranked 11 - 40 Ranked 41 - 50

Tech Occupations Growth, 2013-2018

How Competitive Is North Carolina?

Winning the Race

Percentage of Women Working in the Tech Industry

31.7% 35.5%

0% 10% 20% 30% 40% 50% West Virginia Wyoming North Dakota Louisiana Alaska Oklahoma New Mexico Texas Idaho Kentucky Arkansas Mississippi Montana Ohio Michigan Utah Vermont Rhode Island Alabama Colorado Oregon Delaware Nevada Kansas Arizona Washington Pennsylvania United States Hawaii Virginia Illinois Tennessee South Carolina Florida Nebraska New Hampshire Iowa Connecticut Minnesota California Indiana Maine New Jersey Maryland Georgia South Dakota Missouri New York Wisconsin Massachusetts North Carolina District of Columbia

NC Ranks as the #1 State

Higher Education R&D in Science & Engineering Fields Intensity

R&D As A Percentage of GDP (2019)

0.13% 0.36% 0.55% 1.00%

0.00% 0.20% 0.40% 0.60% 0.80% 1.00% Nevada Maine New Jersey Idaho South Dakota Oklahoma Florida Arkansas Minnesota West Virginia Louisiana Delaware Kentucky Illinois South Carolina Wyoming Virginia Alaska Texas Washington Hawaii Kansas Oregon California Tennessee Ohio New Mexico United States Indiana Arizona Missouri New York Mississippi Georgia District of Columbia Colorado Vermont Nebraska Montana Wisconsin North Dakota Utah Iowa Alabama Connecticut Michigan New Hampshire Pennsylvania North Carolina Rhode Island Massachusetts Maryland

NC Ranks 4th

Venture Capital Funding Per $1 Million of GSP, 2013-2018

$130 $2,321 $4,525 $17,463

$0 $5,000 $10,000 $15,000 Mississippi West Virginia Louisiana South Dakota North Dakota Oklahoma Alabama Hawaii Alaska Iowa South Carolina Kentucky Arkansas Nebraska Wyoming Wisconsin Indiana Kansas Michigan New Mexico Idaho Nevada Ohio Tennessee Missouri New Jersey Maine Montana Virginia Rhode Island Vermont Texas Pennsylvania Florida Georgia Oregon Arizona Minnesota New Hampshire Illinois Maryland Delaware Connecticut North Carolina District of Columbia Colorado Washington United States Utah New York Massachusetts California

NC Ranks 7th

NC Remains One

• f the Best

Technology States in the Country, and Looking Ahead…The Future Could Be Even Better