eImpact Report

A Message from the Arizona Technology Council President + CEO

Once again, there is plenty of good news in the latest Arizona Technology Industry Impact Report, as well as some opportunities for improvement. Looking at the third quarter data, three areas caught my attention:

1) Year-over-year growth in the number of technology jobs was robust at 2.64% although slightly lower than the 3.25% reported in the second quarter. Total industry wages grew at about the same level, suggesting that employers in Arizona are not facing the same inflationary pressure as other industries.

2) The number of third quarter STEM job postings remained above the July 2019 high but down slightly from the second quarter. Clearly, Arizona employers see strong growth on the horizon and are hungry for the talent to help realize it.

3) The amount of venture capital invested in 2020 declined 27.5% compared with 2019. That could be expected given the pandemic-related uncertainty that characterized last year. Given all the reports of new investment, including some described below, we should expect to see VC investment rebound when the 2021 numbers are released.

In addition to these highlights and other data points in the dashboard below, you will find inspiring stories behind the numbers in conversations with people like Doug Stetson, CEO of FreeFall Aerospace; Angela Creedon, Arizona public affairs manager for City, County and Higher Education at Intel; Alex Iuorio, senior vice president of Supplier Development at Avnet; and Lindsay Gorrill, CEO of KORE Power — all stories illustrating the powerful impact of Arizona’s technology industry.