Colorado IT Industry Facts

• There are more than 5,500 software, hardware, storage and semiconductor companies in Colorado, representing more than 63% of the total number of advanced technology companies in the state. 
• According to Colorado Labor Statistics, IT jobs will represent most of the major job growth in the state through 2012 (includes IT jobs in other key industries including aerospace, bioscience, energy, finance and other related industries).
• Technology companies require highly educated and trained employees generating a higher share of high-paying, high quality jobs.
• Technology companies share a natural synergy with Colorado's existing base of eight world-class research universities.
• Technology industries create products that are prime export commodities bringing new wealth to the Rocky Mountain region.
• Many successful innovative startup companies emerge from the technology sector. 
• Technology also acts as a catalyst for other industry sectors to prosper and be successful in the implementation of various new technologies.
  
  Software
• There are 4,923 software companies in Colorado, representing 58% of the total number of advanced technology companies in the state.
• Colorado’s software industry has grown at a more rapid pace than all other industries in the state – 5.1% over the past two years as compared to 4.4% in all industries in the state.
• Software’s industry employment in Colorado has grown more than double that of the national employment in the same sector -- 5.1% since 2005 as compared to 2.3% growth in the nation.
• Colorado software employees earn just slightly above the national average -- $84,340 as compared to the $83,480 for all US software employees.
• The average wage for a software employee ($84,336) is nearly twice that of the average wage for all employees in Colorado ($43,520).
• The average wage for a software employee has increased more than 9% in just two years – from $77,186 in 2005 to $84,336 in 2007.
• Total software payroll in Colorado has grown by 14.8% since 2005 and totals nearly $4.5 billion – the largest payroll for any advanced technology sector in the state. 
• Colorado ranks 5th in the US in software services employment.
• The Longmont-Boulder corridor is home to the highest percentage of software engineers in the United States and has been since 2003.
  
  Hardware
• Colorado hardware employees earn almost exactly the national average – Colorado’s hardware average wage is $81,520 as compared to $81,600 for US hardware employees.
• Storage is considered to be a part of the hardware sector, and in just 2007, the storage industry received more than $200 million in venture capital. 
• There are 454 hardware companies in Colorado, with 18,970 employees.
• Wages have increased 11.5% for hardware employees in Colorado - from an average of $73,087 in 2005 to $81,523 in 2007.
• Total payroll for the hardware industry was more than $1.5 billion in 2007.