Job growth is no doubt one of the key elements in what’s boosting the Minneapolis housing market right now and no industry is adding jobs to the state of Minnesota quite like tech.
According to recently released data from CompTIA, Minnesota added an estimated 2,226 new technology jobs in 2016, brining the state’s overall total number of workings in the technology industry to roughly 140,970.
The recent spike in tech jobs added to the Minnesota economy now ranks the state 17th among the 50 states in terms of tech-related employment, and that ranking is expected to get even better as the local tech sector here in the Twin Cities area and throughout the state continues to expand.
Also noted in CompTIA’s findings is that technology accounts for about 7.4% of the state’s overall economy, which is estimated to be about $24.4 billion. In 2016, the annualized average salary for a tech worker in Minnesota registered $95,000, which is a jaw-dropping 79% higher than the average state salary of $53,600.
In all, Minnesota is home to approximately 9,165 tech businesses, of which half are located right here in the Twin Cities.