Post Pandemic Jobs Outlook & Economic Forecast
How the Tech Industry Fuels Virginia's Economic Garden
By: Tracey Greene, CBIC Executive Director
Have you been wondering how we — as a Commonwealth — are bouncing back from the early pandemic employment downturn and how that might impact (fill in the blank here) …your clients, your startup, your growing tech or innovation-based business, your job, or your children’s future job prospects?
A Virginia Tech Industry Overview provided to CBIC by the Virginia Economic Development Partnership (VEDP) cites that …
“Virginia employment remained ~219K jobs below pre-COVID-19 levels in Dec 2021…Statewide, employment is currently projected to reach pre-COVID-19 levels by Q1 2023.”
In Episode 10 of CBIC’s Central Virginia Venture Connect video series hosted by CBIC’s Vice Chair Justin Ritter, we dove into the VEDP’s report and heard some encouraging news about the economic outlook for the Commonwealth.
Looking through the lens of our growing tech sector and its value proposition, I was particularly encouraged and impressed by these numbers:
- VA has the highest concentration of tech talent in the US; more than two times the national average
- VA is investing more than $2B in a tech-talent initiative to double annual CS grads
- Our higher-ed institutions produce nearly 12K degree and certificate completions
- 190K Virginians are employed in the tech industry
Watch CBIC’s newest CVaVC episode and learn how tech and innovation-based companies can tap into and leverage support from the VEDP to:
- Secure top talent through the Virginia Talent Accelerator Program and the Virginia Jobs Investment Program
- Obtain no-cost customized market research, SEO, and Domestic Lead Generation
- Be prepared for future growth through VEDP’s site readiness program
You might also like:
What is the VEDP? — An Intro Video
The Q4 2021 issue of Virginia Economic Review explores eight innovation-driven industries with transformative potential in the US and Virginia — offshore wind, commercial space, unmanned systems, automotive technologies, 5G, agriculture, data centers, and e-commerce.
22, Feb, 2022, Richmond Times-Dispatch Article: Virginia’s elite colleges are booming, others are struggling to find students