Section 02
Methodology
In this report, North Carolina’s technology industry is reviewed and compared with those of other states
The tech industry is defined as firms that operate in the technology space but may employ workers in non-tech roles (e.g., an accountant at Red Hat). Later in the report, tech occupations are measured separately. Tech occupations refer to workers whose roles are tech-related and who may be employed at either tech-focused or non-tech-focused companies (e.g., the Chief Technology Officer at Wells Fargo). Throughout this report, the term “tech sector” is used to encompass both tech industries and tech occupations.
In this report, North Carolina is also ranked on factors that influence the technology sector, such as research and development funding and talent availability. These metrics are collectively defined as the “tech infrastructure.” Reviewing these indicators provides policymakers with an understanding of the industry’s current landscape, as well as takeaways that may help guide actions to support future growth.
Economic Leadership identified 86 separate six-digit NAICS code industries to characterize the “Total Technology Industry” for North Carolina and for comparison with other U.S. states. A full list of these industries is available in the appendix. These categories are based on several established definitions of the technology industry. The primary source was the TechAmerica Foundation’s Technology Industry Classification. Other state and city tech industry reports were also evaluated, and this report maintains a definition that is comparable with those sources.
The Total Technology Industry (hereafter referred to as the “tech industry”) was further broken down into four subcategories:
- Energy Technology
- Environmental Technology
- Life Sciences
- IT, Telecom, Hardware, and Software (Tech Core)
To calculate metrics and trends in the tech sector for employment, wages, and establishments, Economic Leadership LLC used data developed by Lightcast, which is largely based on the Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages. Lightcast data fills gaps created by the BLS non-disclosure policy by amalgamating several economic data sources to provide the best estimates for the years 2001–2035. This allows for a more granular analysis of the tech sector.
The data presented in this report are based on Lightcast calculations for the year 2024, the most recent full year of data available. The federal government revises data several times each year, and these revisions can be significant. Final 2025 estimates will not be available until mid-2026. Most trend data in this report cover the five-year period from 2019 to 2024. This approach allows for the most accurate assessment of the tech industry because it incorporates finalized figures from public sources. Some data, such as unemployment and job postings, provide more real-time insight and are presented throughout the report.
To measure the total number of workers in tech occupations in North Carolina across all industries, we reviewed 85 separate five-digit SOC codes across computer and engineering occupations. The definitions remain consistent with the previous eleven State of Technology reports but are updated to reflect the new NAICS classifications. There was an update to the SOC classification system in 2021 and to the NAICS system in 2022.
Data for the tech infrastructure state comparisons come directly from publicly available resources such as the National Science Foundation, the Bureau of Economic Analysis, and the U.S. Census Bureau. This ensures consistent and comparable data across all states.