Technology Sector is Strong, Pittsburgh Tech Council Report Shows

The Pittsburgh Technology Council's State of the Industry Report shows the region's technology sector, while continuing its growth, has become a significant driver of southwestern Pennsylvania's overall economy. 



Conducted by Carnegie Mellon University's Center for Economic Development, the report measures the six-county Metropolitan Statistical Area that encompasses Allegheny, Beaver, Butler, Fayette, Washington and Westmoreland counties. The report also includes separate data for the entire 13-county southwestern Pennsylvania region. 



Examining the economic impact that has been created by the region's core technology clusters – information technology, biomedical and biotechnology, advanced manufacturing, advanced materials, and environmental technology – the report assesses the overall sector, considering indicators such as venture capital investment and research and development activities. 



Key findings in the report include: 

• The region's technology sector employs nearly 18 percent of the region's overall workforce. 
• The $9.9 billion earned in 2000 by the region's technology workers represents more than 24 percent of the region's total annual payroll. 
• More than $458 million in research and development activity is taking place in the region's universities and federal government facilities. 
• The region's technology sector saw $741 million in venture capital investment in 2000 — a spike of 233 percent over the $222 million invested in 1999. 

Suggestions are made on attracting and retaining technology talent, encouraging the creation and growth of new entrepreneurial technology companies, improving access to capital, improving the structure and level of business taxes in Pennsylvania, and developing incubators and technology parks. 



Copies of the State of the Industry Report are available via the Pittsburgh Technology Council website: http://www.pghtech.org