The 2018 Pittsburgh State of the Industry Report compares three years of data for each of six main technology industry clusters for three years ending 2016, the latest year for which complete data was available.
Most technology industry clusters experienced positive growth in total annual payroll with information technology leading the way, gaining 18 percent over a three-year period. Software alone, as a component cluster of IT, contributed significantly to the payroll growth in this cluster with a gain of 27 percent over the same period.
A distant second was life sciences with an eight percent increase in total annual payroll.
However advanced and technology-intensive manufacturing, advanced materials and energy technology showed declines in total payrolls, the most significant of which was in energy with 19 percent decreases in both payroll and employment.
When including health services in the life sciences cluster, it is important to note that its total annual payroll is the largest in this report at more than $7.1 billion. It also has the highest number of employees at more than 105,000.
>The 9,906 technology establishments tallied in the year 2016 represent more than 13 percent of all companies in the 13-county region.
>These firms employ 294,678 individuals and account for nearly 23.3 percent of the area’s overall workforce.
>The $22 billion annual payroll of technology and related companies, including the health services subcluster, represents more than 34 percent of the region’s total wages.
Data may be restated from previous years’ reports due to late or revised filings.
Plus, this year The report includes a detailed look at Venture Capital activity with data from PWC/ MoneyTree!