Almost every industry has had its struggles with talent troubles over the last few years, but what about our state’s booming tech sector? Although it’s quite a diverse business category, Indiana’s tech industry holds its own on the world’s stage against other regional hubs. There’s been something like $7 billion in tech-based company acquisitions and IPOs in Indiana, and each of these firms competes for talent on a global scale. So, what’s the state of the tech workforce like these days?
To answer that question, we’ve gathered details from two organizations that specialize in tech industry talent. They’ve each released new research this spring which highlights Indiana’s how well Indiana’s tech workforce is doing.
3,525 Net New Tech Jobs Last Year
Illinois-based CompTIA, a nonprofit association that works to boost the information technology (IT) industry and workforce, put out a very cool report and interactive map that shows the current U.S. tech workforce landscape.
As the organization pointed out, it’s been an “eventful” period in tech employment nationally. They may be alluding to the well-published layoffs that happened at some of the largest tech giants throughout 2022 and the beginning of 2023, but luckily things weren’t so bad here in our state. Despite all the troubles on the national level, Indiana added new jobs and the industry grew.
CompTIA’s “State of the Tech Workforce” shows that net tech employment in Indiana increased by 3.1%, creating 3,525 new jobs in 2022. The authors forecast a similar rate of growth for 2023, or about a 2.9% increase resulting in about 3,500 net new jobs.
“In a year of even more uncertainty than usual, the tech labor market routinely defied expectations,” said Tim Herbert, chief research officer for CompTIA. “The data continues to confirm the degree to which technology underpins so many facets of business activity across the economy and the breadth of employers reliant on technical and digital skills.”
Some specific highlights also included:
Big Demand
Indianapolis-based TechPoint, which is a growth accelerator for the tech industry, also released a 2023 Indiana Tech Workforce Report early this year. Their findings show that demand for tech talent is running hot in our state, much like everywhere else, but numerous partnerships are working to keep the pipelines full.
“The challenges we outline are not unique to Indiana, but what is unique is our history of collaborating to overcome huge issues,” said TechPoint President and CEO Ting Gootee. “Working together, we can overcome these seismic shifts by investing in bold new talent pathways and alignment programs.”
Key findings from TechPoint’s research included:
Among TechPoint’s biggest recommendations for the state, the experts emphasized that community stakeholders and employers must keep tech talent investments a top priority. Business and community leaders should also work together to promote faster adoption of digital technologies, reform traditional hiring practices to be more equitable, and double down on our state’s efforts to retain the many thousands of students who come to Indiana to attend our universities.
More Work Ahead
Based on the recent reports from CompTIA and TechPoint, it’s evident that Indiana’s tech industry is on a path of growth with projections showing an expected rate in 2023 similar to last year. Demand for talent is still a tall challenge, but with concerted efforts to tackle the shortages, our state’s tech industry is set to become an even stronger economic force in the years ahead.
