NVTC recently published the third infographic in its research series. The latest infographic highlights Virginia’s position as a global technology center and a top state for business. Continue reading for some of the key findings in the infographic.
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Virginia’s tech job opportunities are unmatched
- Virginia ranks #1 in total employed and geographic concentration of cybersecurity workers.
Virginia’s cybersecurity workforce location quotient – a Bureau of Labor Statistics data-driven ratio highlighting a geographic area’s distribution within a given industry – is first in the nation at 4.47, far exceeding the 1.0 that is our national average. Or to put it another way, there are more cybersecurity workers per employed capita than anywhere else in the country.
- Virginia ranks #1 in cybersecurity job openings.
Virginia ranked first again in the number of cybersecurity openings posted. Cyberseek heatmap openings totaled 35,837 for the period running April 2016 through March 2017.
- Virginia has the second largest percentage of private tech sector employees.
In the 2016 CompTIA Cyberstates report, Virginia ranked second in terms of percentage of private sector workers employed by tech firms at 9.5 percent. The report also noted:
- Virginia had the fourth highest number of all technology job postings;
- Virginia had the fifth highest tech payroll compared to the national average wage differential at $31 billion; and
- Virginia ranked sixth in the total number of tech workers (284,681), average wage ($109,038), total number of tech establishments (19,568) and tech as a percentage of state product (8.8 percent).
Startup growth is strong in Virginia
- The Kauffman Index of Growth Entrepreneurship ranks Virginia #1 for startup growth.
The Kauffman Index of Growth Entrepreneurship uses three components of small business activity to provide an early indicator of small business growth, including the rate of businesses owners in the economy, the five-year survival rate of businesses and the established small business density.
Virginia is pro-business
- Virginia ranks #4 in the 2015 top 10 pro business rankings
The Pollina Corporate Top 10 Pro-Business States report details how well each state has positioned itself to retain and create jobs. Virginia is the only state that has been in the top five every year since the inception of the rankings.
Want to learn more about NVTC’s latest research initiatives? Email Research and Strategic Initiatives Manager John Shaw.