Not in Fairfield County?
August 25, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

CT tech sector contributed $16.2B to economy last year

The state’s technology industry contributed about $16.2 billion to Connecticut’s economy last year, according to an annual report from the Computing Technology Industry Association.

Although the dollar figure accounted for about 6.5 percent of the state’s economy, it represented only a 0.7 percent growth over 2016, well behind the national average of 1.7 percent. The report found that tech firms in Connecticut employed roughly 140,600 workers, or about 7.6 percent of the total workforce, in 2017.

The data placed the state 22nd in economic impact, 25th in net technology employment, and 15th in the share of tech workers in the workforce. On the other hand, average technology worker’s annual salary of $109,390 was the nation’s 11th highest and 64 percent higher than Connecticut’s average private sector salary.

Nationally, the tech industry employed 11.5 million people last year, accounting for $1.6 billion, or 9.2 percent, of the American economy in 2017. New jobs added in the sector last year totaled about 194,000, while the average salary was $112,890.