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State of Technology 2018 How Is The Economy? USA Nonfarm Payroll Employment 600 87 Straight Months of Employment Growth- 500 Since September 2010 400 300 200 100 0 -100 Source: U.S. Bureau of Labor Statistics -200 USA Nonfarm Payroll

  1. State of Technology 2018

  2. How Is The Economy?

  3. USA Nonfarm Payroll Employment 600 87 Straight Months of Employment Growth- 500 Since September 2010 400 300 200 100 0 -100 Source: U.S. Bureau of Labor Statistics -200

  4. USA Nonfarm Payroll Employment 600 87 Straight Months of Employment Growth- 500 400 300 200 100 0 Source: U.S. Bureau of Labor Statistics -100 -200

  5. Net New Jobs Economic Dynamism (Churn) 28% Jobs Gained and Lost 42% 8,000,000 6,246,000 30% 6,000,000 Net- + 367,000 1 to 49 50-249 Over 250 4,000,000 1,358,000 1,249,000 2,000,000 0 Net- + 109,000 -2,000,000 -4,000,000 -6,000,000 Source: BLS Jan 2018, Data for 2 nd Qrt 2017 -5,879,000 -8,000,000 Expanding Contracting Opening Closing

  6. North Carolina Payroll Employment 6 Y oY % Chg U.S. 5 North Carolina 4 3 2 1 0 November 2017 -1 -2 US: 1.4% -3 NC: 1.6% -4 -5 -6 -7 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: Bureau of Labor Statistics/Haver Analytics

  7. North Carolina’s Unemployment Rate September 2009 – September 2017 Source: Bureau of Labor Statistics Source: Bureau of Labor Statistics

  8. Employment Gains By Sector for the United States and NC December 2016-2017 1.7% Total 1.4% -1.0% Construction 2.3% 0.1% Manufacturing 1.6% 1.0% Trade, Transport & Utilities 0.3% 0.7% NC Financial 1.6% USA 5.8% Professional & Technical Services 2.6% 2.8% Education & Health Services 1.9% 1.5% Leisure & Hospitality 1.9% 1.0% Government Source: US Bureau of Labor Statistics 0.2% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7%

  9. 5 Year Job Growth 2011-2016 North Carolina Average 11.0% Alleghany Ashe Northampton Surry Stokes Rockingham Gates Caswell Person Warren Watauga Halifax Hertford Wilkes Yadkin Forsyth Avery Guilford Franklin Bertie Alex- Yancey Caldwell Davie Nash ander Madison Edgecombe Iredell Davidson Randolph Wash- Tyrrell Dare Martin Burke ington Buncombe McDowell Catawba Chatham Wilson Haywood Rowan Pitt Wake Swain Beaufort Rutherford Johnston Hyde Lincoln Graham Cabarrus Henderson Lee Greene Jackson Mont- Harnett Wayne Polk Tran- Gaston Stanly Moore gomery Cherokee Macon Cleveland Lenoir Craven sylvania Clay Pamlico Rich- Hoke Sampson Jones Union Anson mond Duplin Scot- land Carteret Onslow Robeson Bladen Pender Growth above state average Columbus New Growing below state average Hanover Brunswick Source: EMSI - NC Department of Commerce Losing Jobs

  10. NC TECH

  11. Methodology • 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

  12. The Difference Between Tech Industry Workers and Tech Occupational Workers 65 separate 5-digit 87 separate 6-digit NAICS (SOC) codes

  13. North Carolina Technology Industry Summary Statistics 2016 Indicator Technology Sector State Total 247,208 4,259,606 Employees Establishments 18,868 270,802 Wages (millions) $25,409 $229,003

  14. Tech Industry in North Carolina- 2016 Percentage of Total North Carolina Economy Employees Establishments Wages 247,208 18,868 $25,409,000,000 7.0% 11.1% 5.8%

  15. North Carolina’s Technology Industry by Sub - Categories 2016 Employmen Change Change Establishment Tech Category t 2015 2015-2016 2011-2016 s 2016 Energy Tech 13,198 -0.9% 14.5% 378 Environmental 22,738 1.5% 21.4% 1,524 Tech Life Sciences 77,299 3.2% 9.8% 4,650 IT 133,974 3.8% 21.9% 12,316

  16. North Carolina’s Technology Industry by Sub - Categories 2016 Employmen Change Change Establishment Tech Category t 2015 2015-2016 2011-2016 s 2016 Energy Tech 13,198 -0.9% 14.5% 378 Environmental 22,738 1.5% 21.4% 1,524 Tech Life Sciences 77,299 3.2% 9.8% 4,650 IT 133,974 3.8% 21.9% 12,316

  17. North Carolina’s Technology Industry by Sub - Categories 2016 Employmen Change Change Establishment Tech Category t 2015 2015-2016 2011-2016 s 2016 Energy Tech 13,198 -0.9% 14.5% 378 Environmental 22,738 1.5% 21.4% 1,524 Tech Life Sciences 77,299 3.2% 9.8% 4,650 IT 133,974 3.8% 21.9% 12,316

  18. Employment State of Tech Reports 2015-2018 Employment Growth 160,000 133,974 Plus the addition of 2,465 140,000 116,329 120,000 net new establishments 100,000 77,299 71,805 80,000 60,000 40,000 22,738 20,601 13,198 11,962 20,000 0 Energy Environmental Life Sciences IT 2015 2016 2017 2018

  19. Makeup of Tech Industry Percentage of Total North Carolina Tech Sector Environmental Energy IT Life Tech Tech Sciences 133,974 22,738 13,198 77,299 31% 54% 9% 5%

  20. Employment Growth Rate, 2011-2016 Energy Environmental IT Life Tech Tech Sciences 21.9% 21.4% 14.5% 9.8%

  21. North Carolina’s Technology Industry by Sub - Categories 2016 Establishment Tech Employmen Change, Change s Category t, 2016 2015-2016 2011-2016 2016 Tech 183,856 5.2% 24.5% 18,104 Services Tech Manufacturin 63,352 -2.5% 0.8% 764 g Total Tech 247,208 3.1% 17.4% 18,868

  22. Tech Industry Jobs by County in North Carolina

  23. Average Annual Earnings per Worker by Subsector, 2016 North Carolina (With National Tech Category North Carolina Purchasing Average Power) Energy Tech $131,115 $155,719 $142,015 Environmental Tech $97,923 $107,373 $78,113 Life Sciences $111,168 $121,896 $120,368 IT $109,807 $120,403 $133,276

  24. Average Annual Earnings per Worker by Subsector, 2016 North Carolina (With National Tech Category North Carolina Purchasing Average Power) Energy Tech $131,115 $155,719 $142,015 Environmental Tech $97,923 $107,373 $78,113 Life Sciences $111,168 $121,896 $120,368 IT $109,807 $120,403 $133,276

  25. Average Annual Earnings per Worker by Subsector, 2015 $180,000 NC with PP US $155,719 $160,000 142,015 $133,276 $140,000 $121,896 $120,403 $120,368 $120,000 $107,373 $100,000 $78,113 $80,000 $60,000 $40,000 $20,000 $0 Energy Tech Environmental Tech Life Sciences IT

  26. Average Annual Earnings per Worker by Subsector, 2016 North Carolina National Tech Category North Carolina (With Purchasing Average Power) Tech Services $106,238 $116,490 $125,024 Tech Manufacturing $121,999 $133,772 $132,017 Total Tech $110,277 $120,919 $126,338

  27. Average Annual Earnings per Worker by Subsector, 2016 North Carolina National Tech Category North Carolina (With Purchasing Average Power) Tech Services $106,238 $116,490 $125,024 Tech Manufacturing $121,999 $133,772 $132,017 Total Tech $110,277 $120,919 $126,338

  28. Average Annual Earnings per Worker by Subsector, 2016 $140,000 NC with PP US $133,722 $135,000 $132,017 $130,000 $126,338 $125,024 $125,000 $120,919 $120,000 $116,490 $115,000 $110,000 $105,000 High-Tech Services High-Tech Manufacturing Total Tech

  29. Economic Impact of Technology Sector on State Economy, 2016 Earnings Sales Impact Employees (Millions) (Millions) Direct Impact 247,200 $25,400 $81,600 Multiplier 2.52 1.70 1.67 Indirect & Induced 375,000 $17,900 $54,500 Impact Total Impact 622,200 $43,300 $136,100

  30. Economic Impact of Technology Sector on State Economy, 2016 Earnings Sales Impact Employees (Millions) (Millions) Direct Impact 247,200 $25,400 $81,600 Multiplier 2.52 1.70 1.67 Indirect & Induced 375,000 $17,900 $54,500 Impact Total Impact 622,200 $43,300 $136,100

  31. Technology Sector Employment as a Percentage of Total Employment (2016 ) 12% NC 9.7% 10% 9.1% 8.4% Ranks: 8.4% 7.8% 8.0% 7.5% 8% 26 th 5.8% 6% 5.1% 4% 2% 0%

  32. Tech Sector Employment Growth, 2011-2016 Michigan Utah 17.4% North Carolina Georgia Nevada Missouri Washington California Massachusetts New York Maine Oregon Arizona Florida Illinois District of Columbia NC Ranks South Carolina Tennessee Wisconsin New Hampshire Colorado 7.7% United States 3 rd Idaho Nebraska Indiana Minnesota Growing more Texas South Dakota Montana than twice as fast Hawaii Ohio Pennsylvania Iowa as the national Maryland North Dakota Connecticut Rhode Island New Jersey Alabama Virginia Mississippi Vermont Kansas New Mexico Delaware Alaska Oklahoma Arkansas Louisiana Kentucky West Virginia Wyoming -30% -20% -10% 0% 10% 20% 30%

  33. Tech Sector Employment Growth, 2011- 2016 MICHIGAN MICHIGAN Top 10 Ranked 11 - 30 Ranked 31 - 50

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