Kansas City’s Tech Industry Thrives: KC Tech Council Releases 2024 Tech Specs Report

Kansas City, MO – September 12, 2024 – The Kansas City Tech Council (KCTC) proudly announces the release of the KC Tech Specs v.07, a comprehensive report that highlights the state of Kansas City’s technology industry. As the region continues to emerge as a tech powerhouse, the report provides crucial insights into industry growth, workforce trends, and the economic impact of the tech sector in Kansas City and the surrounding areas.

Kansas City boasts one of the highest tech workforces per capita across the Midwest. It has a denser tech talent base than larger cities, including Chicago, Charlotte, St. Louis, Houston and Nashville. Tech also contributes a greater share of economic impact to Kansas City’s than it does in any of those cities.

According to the KC Tech Specs, Kansas City’s tech industry has remained a significant contributor to the local economy, employing more than 77,000 skilled tech professionals and making up 9% of the region’s total economic impact. The region remains highly competitive compared to other technology hubs across the U.S., thanks to its low cost of living and high density of tech workers. With over 5,223 tech companies operating in the area, Kansas City has positioned itself as a destination for both businesses and tech professionals.

The report also highlights several key trends shaping the future of Kansas City’s tech industry:

• Tech Workforce Growth: The region's tech workforce grew by 16% between 2021 and 2023, and projections show continued job growth through 2024. Kansas City's tech talent is diverse, with young and mid-career professionals making up a large portion of the workforce.
• Hiring Slower, but Stable: While the tech industry continues to add jobs, data reflects a slower pace of hiring nationally and in every MSA, likely due to a stabilization after the rampant hiring post-pandemic.
• AI Investment: Kansas City is leading in artificial intelligence (AI) investments, surpassing the national average. Local tech companies have embraced AI, with over $7.8 million in investments dedicated to AI and machine learning technologies in 2023. Nationally, AI/Machine Learning comprised 14% of investments, whereas in Kansas City, the emerging technologies represented 31% of tech investments.
• Cost of Living Advantage: Kansas City’s affordable cost of living offers significant advantages for tech professionals. With housing and other living expenses lower than in major tech hubs like San Francisco, Seattle, and Denver, professionals in Kansas City enjoy a higher quality of life despite earning slightly below the national salary average.
• Cybersecurity Demand: As businesses focus on protecting data and infrastructure, the demand for cybersecurity professionals has surged by 85% from 2021 to 2023. The report emphasizes the growing need for skilled cybersecurity talent in the region.

“Despite economic challenges, Kansas City’s tech industry has demonstrated resilience and adaptability,” said Kara Lowe, President & CEO of KCTC. “Our region continues to attract tech talent, foster innovation, and provide a supportive environment for tech businesses.”

KC Tech Specs v.07 also directs users to additional data resources, including the KC Tech Checkpoint, a data dashboard that allows stakeholders to access up-to-date information on Kansas City’s tech workforce. Available through the KC Tech Council website and mobile app, this tool provides real-time insights into job postings, salaries, and industry trends.

The KC Tech Council remains committed to driving the growth and visibility of Kansas City’s tech industry. Through policy advocacy, talent development, and a focus on innovation, KCTC works to ensure that Kansas City continues to be a top destination for tech talent and investment.

For more information or to access the full 2024 KC Tech Specs report, please visit www.kctechcouncil.com.