Leading job creators in the seven county Milwaukee region partnered for the first time to conduct a comprehensive study of technology talent and its impact on the economy. The analysis, titled Milwaukee’s Tech Talent Impact, identifies nearly 76,000 technology workers in 89 distinct occupations and revealed that technology talent dependent industries contributed more than $27.6 billion in regional economic impact in 2017. That’s nearly one quarter of the total regional economic output of $119.2 billion.
The findings were unveiled today at a community event that gathered business, technology, academic and government leaders to discuss the importance of tech talent in the region and what is needed for future growth.
“Technology is rapidly accelerating the pace of change and the need for talent across many industries,” said John Schlifske, chairman and CEO, Northwestern Mutual. “This study demonstrates the increasing economic impact of technology talent in our region and helps us better understand the needs for future growth. The private industry sector is committed to attracting and retaining tech talent , which will help position Milwaukee for success in a digital future.”
The study also identified three types of digital job categories account for 75 percent of the region’s tech talent, including computer/mathematical, engineering and business/financial. In total, the estimated earnings of the region’s tech talent exceeds $4.7 billion each year.