RICHMOND, Va., March 26, 2019 /PRNewswire/ --Technology-related employment in Virginia grew by more than 6,400 new jobs in 2018 and the tech sector increased its contribution to the state's economy, according to Cyberstates 2019™, the definitive guide to tech sector and tech workforce analytics published by CompTIA, the leading technology industry association.
Net tech employment grew by an estimated 6,412 in 2018.1 Since 2010 net tech employment has grown by more than 27,700 new jobs. With more than 436,500 workers, tech accounts for approximately 10.7 percent of the Virginia workforce.
The tech sector has an estimated direct economic impact of $62.7 billion, or about 13.5 percent of Virginia's total economy.
"Clearly the broad-based impact of the tech industry touches virtually every community, industry and market across Virginia, especially when you consider the hundreds of thousands of knowledge workers who rely on technology to do their jobs," said Todd Thibodeaux, president and CEO, CompTIA.
The outlook for future employment growth remains positive. Virginia saw a 32 percent increase in the number of job postings related to emerging technologies, such as the Internet of Things, smart cities, drones, artificial intelligence, virtual and augmented reality and blockchain. Cyberstates projects the base of tech occupation employment – a subset of net tech employment will grow by 8.8 percent in Virginia by 2026. Retirements will add even more pressure to meet the need for tech talent.
"The findings attest to a tech labor market that will remain tight as employers balance short-term needs with an eye towards the future," said Tim Herbert, senior vice president for research and market intelligence at CompTIA. "As digital-human models begin to unfold, employers and employees alike will face new challenges – and opportunities, in shaping the workforce of tomorrow."
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Virginia 6th nationwide in net tech employment; 12th in net tech jobs added last year; and 10th in the Cyberstates Innovation Score, based on venture capital investments, tech startups and new business formations and other factors.
Tech occupations with year over year growth in Virginia included computer system and cybersecurity analysts (+3.8 percent) and software and web developers (+2.2 percent).
The median tech occupation wage in Virginia is $94,493; 103 percent higher than the median wage for all occupations in the state.
Cyberstates 2019 (#cyberstates) is based on CompTIA's analysis of data from the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis, EMSI, Burning Glass Technologies Labor Insights, and other sources. Estimates for 2018 are subject to change as government data is revised and updated. The full report, with complete national, state and metropolitan level data, is available at https://www.cyberstates.org/.
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5 trillion global information technology ecosystem; and the more than 50 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world's economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce. To learn more visit https://www.comptia.org/