Section 04: Tech Industry Metrics
Employment Change
One of the strongest performance indicators for the state’s tech industry is its recent growth and future growth potential
From 2019 to 2024, jobs in this industry grew by more than 19% in the state. That is the #7 highest growth rate in the country and nearly six percentage points higher than the national average. This ranking is an improvement from #10 two years ago and #8 last year. The number one state, Nevada, is growing at a high rate due to rapid expansion at the Tesla Gigafactory in Reno. The top-growing states tend to be in the Southeast or the Intermountain West.
Tech Industry Employment Change, 2019-2024
IT Industry Employment Change, 2019-2024
The employment growth rate in IT from 2019 to 2024 was 20.5 percent in North Carolina
This was the #10 fastest growth rate across all 50 states. The state improved compared with the data from 2018 to 2023, which showed growth of 19.2% and a ranking of #12 place. The state has consistently ranked in the top 15 for this metric.
Expected Employment Change
Based on Lightcast models that use historical five-year, ten-year, and fifteen-year growth trends to predict future performance, the expected growth of the tech industry for all 50 states and the District of Columbia was calculated for the next five years.
North Carolina is projected to grow its tech industry employment by almost 10% from now to 2030
The state dropped one spot in the rankings this year to #9 among all states and remains higher than the national average. As tech growth slowed in 2023 and then declined in 2024 across much of the country, future growth projections shifted downward in this year’s analysis.
Expected Tech Industry Employment Change, 2025-2030
Expected IT Industry Employment Change, 2025-2030
North Carolina’s IT industry is projected to grow by 11% in the next five years
Growth projections for the IT sector nationally have shifted downward overall due to job losses in most states in 2024. The rate for North Carolina in last year’s report was 12.3%. Despite the small downward shift, the state remains ranked above the national average and moved up in the rankings from #14 to #9 this year. The state’s ranking on this metric is up to #14 from #25 two years ago. States in the Southeast and Intermountain West are expected to continue posting the fastest IT growth.