Tech-heavy industries in the Milwaukee area made up nearly a quarter of the region’s $119.2 billion economic output last year, with a $27.6 billion impact.
That’s according to a new report commissioned by some of the region’s biggest companies: Northwestern Mutual, Advocate Aurora Health, MillerCoors, Rockwell Automation, Johnson Controls, Foxconn and others. It focused on industries that have 15 percent or more of their workforce in technology occupations.
The report, titled “Milwaukee’s Tech Talent Impact,” shows the area had nearly 76,000 employees in 2017 working in 89 different types of jobs. And the estimated earnings for all these workers is over $4.7 billion per year.
Those numbers are only expected to grow, as 31,000 job openings are predicted in the next five years based on past rates of retirement and career-switching.
“This study demonstrates the increasing economic impact of technology talent in our region and helps us better understand the needs for future growth,” said John Schlifske, chairman and CEO of Northwestern Mutual. “The private industry sector is committed to attracting and retaining tech talent, which will help position Milwaukee for success in a digital future.”
Nick Turkal, president and CEO of Advocate Aurora Health, argues that southeastern Wisconsin is no longer just a manufacturing economy. Read the full story here.
Read the Milwaukee Business Journal Story here.