A survey of Washoe County technology-based companies indicates an upward trend of continued job growth and expansion within the sector over the next three years. The survey conducted by Business Builders, the business retention and expansion division of the Economic Development Authority of Western Nevada (EDAWN), reports that the 22 technology, medical and information services companies surveyed are projecting future expansion resulting in 1,230 new jobs, 1.4 million additional square footage and nearly $486 million in new capital investment by 2007.
The survey reports the largest planned growth and expansion for an industry sector compared to the previous industry surveys conducted in 2004-2005 including: finance and transportation, manufacturing and gaming and tourism. The local data reflects national economic indicators supporting increased information technology spending and growth in information technology jobs and healthcare related positions.
"The report is a positive sign that tech-based business is healthy and growing in Washoe County with 82 percent of the companies interviewed planning to increase staffing within the next three years," said Gail Conkey, director of operations for EDAWN. "These types of companies contribute significantly to the local economy by typically offering high paying jobs and being low users of natural resources."
The survey conducted from April 2005 to June 2005 asked open ended questions about the community's strengths as a place to do business. The top three strengths mentioned most often were: good tax climate and cost of living, quality of life and business friendly community. The companies cited a more qualified workforce and better planning as areas the community can improve.
On June 30, 2005, Business Builders ended Fiscal Year 2004-2005 by completing four phases of business interviews with local executives in primary industries, or those businesses that import revenue into the region by exporting goods and services. The phases included: Phase One - finance, insurance, transportation and logistics; Phase Two - manufacturing; Phase Three - tourism, gaming and recreation and Phase Four - technology, medical and information services. Business Builders volunteers interviewed 137 Washoe County business leaders last year. The companies interviewed collectively project increased new jobs and capital investment by 2007: