Austin Economic Study: Tech Contributes $21B; 150 Tech CEOs Lead National Discussion on Leveraging Innovation Economy

AUSTIN, TX--(Marketwired - May 6, 2013) -  The Austin Technology Council (ATC) today released the results of its Technology Economic Impact Report which reveals not only the incredible impact the technology industry has made on Austin's economy, but also the growing talent gap. The Impact Report finds technology is generating billions of dollars annually and driving more than a quarter of Austin's local economy. With nearly 80 percent of all technology companies in Austin expecting to hire this year, and more than 10,000 new tech jobs anticipated before 2017, Austin will be strengthening the local talent pipeline to meet these demands.  ATC will be hosting its 3rd Annual CEO Summit Wednesday at ACL Live at the Moody Theater, where technology CEOs from Texas and beyond will gather to discuss the findings from the Impact Report, as well as the future of the city's technology sector.

"The Austin technology sector drives $21 billion annually into the local economy," said Joel Trammell, chairman of the Austin Technology Council. "While we are energized by the impact this contribution has on the region, we must also focus on ensuring the region has an adequate talent supply to sustain our growth. Tech must invest in aggressive recruiting and training methods."

With "Setting the Tech Agenda for Central Texas" as its theme, ATC's 2013 CEO Summit is dissecting the results of this unprecedented report and what it means for Austin's future in innovative technology. This discussion comes at a critically important time now that the technology sector is revealed to be a significant driver in giving Austin the third lowest rate of unemployment in the country. Data released last week by the U.S. Bureau of Labor and Statistics revealed the Austin area had the greatest year-to-year increase in employment of any metropolitan area in the U.S.

"So much of Austin's economy is dependent on tech," said Julie Huls, President and CEO of ATC. "Technology has a responsibility to the community -- not only to create jobs, but to invest in building a sustainable engine for growth. Just as any dynamic business, Austin must now refine our strategy to be a national driver for innovation."

ATC CEO members are also exploring leadership models for technology-based innovation economies to more effectively engage in specific business and economic development initiatives. Discussions will examine how to support educational institutions in Central Texas as they create STEM-based programs that prepare employees for the technology workforce. Keynote speakers and panelists will explore similar strategic requirements for regional capital investment, engaging the voice of Austin's CEOs on national and global technology issues, and the appropriate alignment of the Council's leaders with creative industries as well as non-technology interests in Central Texas. Attendees will also weigh in on the future of technology and how the global war for talent can be fought and won right here in the heart of Texas. 

Mike Maples, Jr., founder and CEO of Floodgate, will discuss "The Future of Technology." Tom Meredith, CEO and co-founder of Meritage Capital LLC, will give the keynote address on "The Promise of Austin." Other speakers include John Arrow, CEO and Founder of Mutual Mobile; Josh Alexander, CEO of Toopher; and Susanne Bowen, CEO of PeopleAdmin, among others. 

Technology Economic Impact Report Findings:

• Tech employment is scheduled to grow by 9% from 2012-2017, adding more than 9,000 jobs to the local economy.
• One out of every five new tech jobs in Texas during 2012-2017 is expected to be in Austin.
• The top 3 Fastest Growing tech sectors in Central Texas (based on projected employment) 2012-2017 include:
  • Engineering Services
  • Computer and Computer Peripheral Equipment and Software Merchant Wholesalers
  • Custom Computer Programming Services
• Austin's Fastest Growing Tech Occupations:
  • Computer Systems Analysts
  • Software Developers (Applications)
  • Computer Support Specialists
  • Software Developers (Systems)
• Top Three Job Categories Projecting a Shortage, 2012-2017:
  • Software Developers/Applications (254 annual openings, 56 completions)
  • Software Developers/Systems Software (228 annual openings, 54 completions)
  • Computer Support Specialists (347 annual openings, 186 completions)

About the Austin Technology Council:
With more than 7,000 members and friends, 1,200 C-level executive members, and 200 member companies, the Austin Technology Council (ATC) has been focused on the growth and success of the Austin tech community since 1994. Members reap the benefits of premier professional development; insight and feedback from peers; the best in industry data to help grow businesses; and opportunities to give back to the Austin community through charitable initiatives. Current ATC board members are leaders at companies or organizations like Austin Technology Incubator, Homeaway, IBM, PeopleAdmin, Samsung, Spinal Restoration, Spredfast and Vinson & Elkins. More on ATC can be found at: www.austintechnologycouncil.org or @ATCouncil on Twitter. For Summit related tweets, please add hashtag #CEOSummit.