Chicago's overall economy grew 1% in the last decade. But its tech industry was a bright spot, with the sector growing 18% in the last 10 years, a sign of just how important technology jobs are to the city's economic health.
That's according to a report from the Chicagoland Chamber of Commerce dubbed The Chicago Tech Effect, which aims to quantify the growth of Chicago's tech sector.
Chicago has more than 106,000 direct tech jobs in the city and an additional 147,000 multiplier jobs created as a result, according to the report. Combined, Chicago's tech economy employs more than a quarter of a million people, which is 18% of the city’s overall workforce.
"At its core, the findings paint a pretty clear and definitive picture," Chicagoland Chamber of Commerce President and CEO Jack Lavin told Chicago Inno. "Chicago is one of America's leading tech hubs. And given the strength and size of our booming tech sector, it's time we as a city fully embrace this identity as a world-leading technology destination."
Chicago's tech ecosystem also proved more resilient during the height of the Covid pandemic. When looking at job growth from 2019 to 2021, Chicago's overall economy decreased 8%, while the tech ecosystem fell 2%.
Even as the national tech industry braces for a slowdown, Lavin believes the sector, specifically in Chicago, is in a position to weather the storm.
"During the pandemic, the tech community was the most resilient to the downturn. And I think that will continue," he said. "I think with new ways people are working, the future of work is going to be more tech oriented. You’re going to see more tech solutions and that means more opportunity."
Lavin added that Chicago's tech growth is due in part to its startup sector, but also to the traditionally non-tech companies that are increasingly adding tech roles. Chicago-based United Airlines, for example, employs 1,500 high-tech workers out of its 95,000-person workforce.
Lavin said the challenge now is to better promote the tech activity in Chicago and market the city as a desirable place for tech talent.
"Sometimes we are humble Midwesterners and we don't talk about ourselves," he said. "We have great environment for growth."
