SOURCE: Illinois Technology Association (ITA)

Illinois Technology Association (ITA)

June 01, 2011 11:16 ET

Illinois Technology Industry Thriving: Adding Staff, Forecasting Sales Growth, and Planning Capital Expenditures

Illinois Technology Association (ITA) Releases Pulse of the Industry Survey

CHICAGO, IL--(Marketwire - Jun 1, 2011) - The outlook for the coming year is positive for the Illinois technology industry according to the Pulse of the Industry Survey released by the Illinois Technology Association (ITA).

Over 100 companies participated in the survey, reporting optimism for the coming year, supported by:

  • Anticipated and reported growth during the recent economic downturn, with 40% of respondents reporting revenue growth equal or greater than 20% in the last 6-month period
  • Upcoming 6-month period forecast reflects revenue growth expectations, even for those companies who had flat to declining revenue in the most recent 6-month period
  • Participating companies reported job creation of 400+ positions in the past 6-month period, and are anticipating new job creation in excess of 500 positions for the upcoming like period

"The local technology industry continues to be a driver of job growth in the economy in Illinois," said Fred Hoch, President, ITA. "We have witnessed a new energy, a renewed level of activity and achievement of our member companies over the last year. The results of the survey suggest continued current growth, with a positive outlook for the coming years."

Chicago continues to build awareness as a national technology hub, as witnessed by anticipated funding coming not only from the Midwest but also from sources on both coasts for over half of the companies who participated in the survey.

To request a complete copy of the survey, contact headquarters@illinoistech.org.

About the ITA
Illinois Technology Association (ITA) is a driving force behind the growth of Illinois' vibrant technology ecosystem. We are relentless in championing the development and application of technology, from start-up companies to industry leaders, leveraging the transformative nature of technology to revolutionize industries. ITA uniquely capitalizes on peer-to-peer collaboration, networking, and access to experts across the breadth of business to cultivate the Illinois technology industry. The unique and powerful integration of these valuable and experienced resources differentiates the ITA as a source of accelerated growth for the technology industry of Illinois. For more information about ITA, please visit www.illinoistech.org.

Contact the ITA at headquarters@illinoistech.org, follow the discussion on Twitter at @itabuzz, and visit www.illinoistech.org to find out more about how ITA supports the growth of the local industry.

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