Phoenix tech industry No. 29 among 100 U.S. metro areas - Phoenix Business Journal:

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The study, conducted by Americaj City Business Journals, parent company of the Phoeniz BusinessJournal , found Phoenisx ranked 29th among the 100 largest U.S. metropolitan areas for its technologt industry. The Valley ranked high in termws of the number of tech employees and typeszof companies, but the relative lack of an educated work force to attractg new industry hampered its overalll ranking. The study crowned San Jose, the heart of Siliconb Valley, as the best tech market. Phoenix also fell behine Dallas (14th), Tucson (18th), Detroit (21st), Albuquerque and Denver (27th) in terms of how attractived it is asa high-tecyh center.
Steve Zylstra, CEO of the , sees the rankings as a sign that Arizona is heading in the rightf direction in terms of diversifying its economy withmore tech-intensivre businesses. In the past five years, the stater has launched efforts to land morebiotech companies. Duringf the past year, teamed with industry leaders to launcy the Aerospace Institute and theSolar Institute. “We’ve made a lot of but we also still have a lot of workto do,” he “Arizona’s leaders have shown recently they understand the state’s future depends on investingy in our technology base.
” According to the Phoenix has 4,199 high-tecjh companies and more than 81,000 high-tech That equals about 19.4 jobs per high-tech company. Those numbers put the Valleyh in the top 25 percent Butonly 7.5 percent of the area’s residentx have master’s degrees or placing Phoenix well below San at 17 percent, or even Tucson, at 10.2 percent. Marilyn principal of MGT Associates LLC and a board memberof TechAmerica, said the statwe has put numerous technology incentives into play, such as the researcu and development tax credit. Theree also is increasing investment in Arizonaw firms by local investors and national venturecapitalo firms, she said.
The state still needs to do more to ensurde the industry will remain competitive and continudeto grow, Teplitz said. “Ww are not aggressive enough in supporting corporate and need to take a longer view on the sustaininf benefits resulting from an increase incorporate headquarters,” she said. The Valley and stat e benefit when more tech jobs are but state officials still must focus on policiee that will enable future Zylstra said.
“The technology industriex thatcreate goods, engage in trade and create higher-than-averagwe paying jobs are the underpinning for the state’s entire economy,” he “Most all other industries are built arounf them, and will only flourish if the technologyy industry flourishes. When the Legislature approves R&Ds tax credits and Intel decides toinvestr $3 billion in a Chand-ler plant, we all