Software Development & IT
Did you know? The fifth node of the original Internet was at the University of Utah. And in 1985, Utah was home to two of the three largest software companies in the world – Novell and WordPerfect; Mircosoft was the third. Utah has been the home of strong IT and software companies for more than two and half decades!
There is no question that Utah is poised for continued strong growth in information technology and software. Recently, Utah has had a high-profile, high-tech IPO – Fusion-io (NYSE: FIO). Adobe Systems’ acquisition of Omniture, a leading web analytics company based in Utah, for $1.8 billion also shows that Utah has a large stake and significant expertise in IT and Software. This trend has continued with large capitalizations for Qualtrics, Pluralsight, Domo, InsideSales.com Health Catalyst, and other fast-growing companies.
Inc. Magazine has noted that “Utah has become the epicenter of the ‘Inc. 500 Fastest-Growing Private Companies’ in recent years.” And Forbes Magazine has named Utah as the best state for business and careers the last two years running. In February 2015, even the New Yorker joined the chorus with “How Utah Became the Next Silicon Valley.”
In the fourth quarter of 2013, the cluster (as defined by GOED) represents 4,226 businesses employing more than 53,000 people. Average annual wages are $71,231, or 167% of Utah’s average annual wage. Utah’s software/IT industry has been growing jobs over the last several years at a strong rate, significantly outpacing the national average and gaining market share in jobs. As well, Utah has a higher concentration of software/IT jobs than the national average.
- Akami Technologies’ national rankings = Utah has 8th fastest internet in the country, and is 2nd in the Western US.
- What are the best cities for IT professionals when it comes to job satisfaction? Salt Lake City is #4 on the nationwide list produced by Glassdoor Employment.
- The Milken Institute has released its fifth State Technology and Science Index. Utah is #5 overall and #1 in the Technology Concentration and Dynamism Composite index for the fourth year in a row. The index evaluates technology outcomes to assess how effective policymakers and other stakeholders have been at parlaying regional assets into regional prosperity.
- The Provo area has been called one of the country’s top up-and-coming tech hubs, according to SpareFoot.
- In September 2013, Salt Lake Comic Con blew past Denver’s first year attendance of 27,000, hitting an estimated 70,000.
Links to important IT and software organizations and resources in Utah:
Utah Technology Council – Utah’s premier technology industry association
Utah Corporate Tax Incentive Program
EDCUtah – Utah’s premier business expansion and relocation service provider
Utah TCIP – $1.6mm a year invested to commercialize university technology
USTAR – Innovative state-funded university research teams