County’s 8,116 Technology Firms Provide 256,448 Jobs
Just how important is technology to Orange County’s economy? Consider these figures compiled by the Orange County Business Council:
There are currently 8,116 technology-related companies in the county, up 22% from 6,678 in 1988. These businesses employ 256,448. That’s more than 20% of the county’s total work force. The average annual wage among the county’s technology-based firms is $41,841.
The biggest industry segments are computer hardware, software, subassembly and components. The fastest-growing businesses are in communications and manufacturing equipment.
As impressive as those numbers are, the cumulative impact of technology on the local economy “is a story that has not been fully told yet,†said Wallace Walrod, who works on strategic initiatives for the business council.
One of the most important developments locally, Walrod said, is the growth of industry clusters that tend to support and feed off each other. In the biomedical field, for instance, companies have banded together to share technology, employee training programs and equipment. “It’s a little self-sustaining community†that fosters continued growth of technology businesses in the county, he said.
Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at [email protected]
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