Press release

Economic Impact Report Detailing Growth of Arizona’s Technology Sector Released by Arizona Technology Council

Sponsored by Businesswire

To keep its constituents up-to-date on the advances in Arizona’s
technology community, the Arizona
Technology Council
today announced the latest update of the 2019
Quarterly Arizona
Technology Council Industry Impact Report
. The report reveals an
increase in technology career wages, number of jobs, venture capital,
new technology companies/startups, and Small Business Innovation
Research (SBIR) awards.

The quarterly report is conducted by eImpact,
an organization that creates web-based, data-reporting solutions
designed to help cities, industries and planners drive effective policy,
create new growth and engage stakeholders.

“Our new eImpact report shows tremendous growth in our state’s
technology sector from the time when it was introduced in June 2018,”
said Steven G. Zylstra, the Council’s president and CEO. “We
commissioned the report to provide frequent updates on the economic
payoff of our initiatives and gain comprehensive data on where we should
be devoting resources. Seeing the growth metrics of Arizona’s technology
sector over the last year has been rewarding validation of the efforts
of Arizona’s entire business ecosystem.”

Arizona’s technology community has seen a 5.2 percent wage growth during
the past year, giving Arizona 20 percent higher technology wages than
the national average. A 2.9 percent job growth also occurred during the
same period, ranking Arizona second for employment growth in the
Southwest. Additionally, venture capital investment in Arizona went from
under $300 million in 2017 to $539 million in 2018.

Highlights of the report also include:

  • The Arizona technology community created 177,528 jobs during the past
  • Arizona technology companies contributed $34.5 million in total taxes.
  • There was a 16 percent growth in startups and technology companies
    listed in Arizona.
  • There are 2,561 startups in Arizona listed on AngelList and an average
    valuation of $3.7 million.
  • SBIR awards in the state nearly doubled, from $19 million to $37

The Council advocates on behalf of its membership for policies that
propel success and sustainability. Recent initiatives have contributed
significantly to the state’s pro-technology business climate, including
the signing of SB 1085 to provide better healthcare options for small
business and startups, recapitalization of the Angel Investment Tax
Credit, the extension and continued expansion of the R&D Tax Credit
program until 2021, and legislation that improves STEM education and
increased pay for educators.

The Arizona Technology Report is based on eImpact’s analysis of data
from the U.S. Bureau of Labor Statistics, CompTIA, AngelList and others.
The complete report is available on the Council’s website here.

About the Arizona Technology Council

The Arizona Technology Council is Arizona’s premier trade association
for science and technology companies. Recognized as having a diverse
professional business community, Council members work towards furthering
the advancement of technology in Arizona through leadership, education,
legislation and social action. The Council offers numerous events,
educational forums and business conferences that bring together leaders,
visionaries and community members to make an impact on the technology
industry. These interactions contribute to the Council’s culture of
growing member businesses and transforming technology in Arizona. To
become a member or to learn more about the Arizona Technology Council,
please visit