Wondering about the state of the state when it comes to technology? The Arizona Technology Council answers the question regularly with two key reports.
For an ongoing snapshot of progress, the Council offers its quarterly Arizona Technology Industry Impact Report, which outlines the progress of the state’s technology sector across critical growth metrics. And since the Council has become the driving force to connect and empower Arizona’s community of innovation, the progress of the group and the state is reported in the Annual Report.
For example, a key takeaway in the recently released Industry Impact Report for the first quarter of 2022 was the number of technology companies in Arizona being up 8.17%, compared to an increase of 5.43% in the fourth quarter 2021. In addition, jobs within the industry were up 2.78% over the past year, creating almost 2,000 more jobs in the state, while total wages within the industry also rose 1.88%.
The report also revealed some spectacular movement by investors looking to back the next big thing. Venture capital funding increased 162% since 2020 and total investments amounted to $2 billion last year alone.
The Council also supplements its report with diversity statistics within the industry, published works, blogs and interviews highlighting Arizona technology industry leaders, news from organizations across a wide range of sectors in the state’s technology community and more. Download or view the complete report on the Council’s website, aztc.eimpactv2.report/reports/embed/5f08e79ae2cca70033382657.
Resurgence. Is there a better word to describe Arizona, let alone the state of our technology community in 2021? This reawakening of sorts is why the 2021 Annual Report is themed Resurgence.
Some of the bigger headlines were made when massive semiconductor manufacturing projects — including those by Council member Intel — were announced for Arizona. But we also witnessed success on the other end of the spectrum as a growing number of startups — with Council members among them — discovered that planting roots here was smart business.
The 2021 Annual Report can be found at issuu.com/tcguy/docs/2021_final_annual_report.