Northeast Ohio’s tech industry is not only growing, it's thriving, according to OHTec’s recently-released 2015 NEO Tech Industry Report. The organization conducted the same survey in 2014 as it did at the end of 2010 and recent results show an increase in employment, revenue and overall growth.

“Four years ago, we used the same survey to get a snapshot of what the industry looks like,” explains OHTec director Brad Nellis. “We wanted to see what it looks like now and how things have changed in four years. It’s important because people don’t really realize the impact and scope of the tech industry here in Northeast Ohio. This report gives light to it.”
Brad Nellis 
Nellis cites the fact that 68 percent of the region’s tech employers now have more than 10 employees – far above the national average of 18 percent – while in 2010, 45 percent had 10 or fewer employees. Today, only 32 percent fall into the very small category, while the number of companies with more than 25, 50 and 100 employees has grown significantly.

Furthermore, the report states that in 2010, just seven percent of companies reported revenues of more than $10 million annually, while in 2014 that percentage rose to 13 percent.

Nellis notes that an important point in the report is that 60 percent of the area’s tech companies are doing business outside of Northeast Ohio. “It’s not just moving money around in the region that’s already here,” he says. “With big growth in companies doing business outside of Ohio, that’s dollars being imported into the region.”

There really hasn’t been much change in the types of technology companies in the region, says Nellis -- Northeast Ohio continues to host a mix of companies, from software and IT services to web site development. And many tech employees are making good money. "We don't have any mega-tech companies here like Oracle, Google or Facebook, but there are high salaried individuals in web development, software development -- many making six figures," he says. 

Ohio in general has strong technology bases statewide, each with its own niche market. Nellis says the state has been supportive of the technology industry, which will only fuel future growth.

“Barring an economic upheaval, we will continue to see strong growth,” Nellis says. “We consider ourselves on a good, strong path.”