Wednesday, October 12, 2011
San Diego's high technology sector actually grew during the recent economic downturn, and that's a bright spot in a difficult economy.
SAN DIEGO National University System Economists found the region's high tech sector was surprisingly robust over the past few years. The University's Institute for Policy Research study revealed that the region's life science, research, and other knowledge based industries generated 140,000 jobs.
Institute economist Kelly Cunningham says those jobs are important for the region because they pay well.
"An average of the industry is nearly double what the non-tech jobs are in the area which for San Diego in the tech industry pays an average of $97,000 a year," said Kelley Cunningham, Institute for Policy Research economist.
The report also found the the high tech sector of the economy out performed the rest of the economy as the region suffered through the economic downturn.
"One of the biggest things that comes out is that biotech continues to grow even during the recession. It's continued to add jobs the last several years as the rest of the economy hasn't," said Cunningham.
The report says the average pay for non tech jobs is is $45,000. The high tech sector is also helps generate or support another 220,000 jobs and that leaves a large economic footprint on the region, said Cunningham.