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New Zealand’s ICT sector stronger than ever

New Zealand’s ICT sector stronger than ever

Economic Development Minister Simon Bridges says the 2017 ICT Sector report demonstrates the strength of New Zealand’s technology sector.

The report was launched in Wellington this evening alongside the opening of ProjectR, an initiative focusing on virtual, augmented and mixed reality with a strong focus on research and development.

“The Government has backed the ICT sector by investing in and enabling innovation and this support is paying dividends,” says Mr Bridges.

“The IT services sector makes a significant contribution to our economy. In 2016, more than 11,000 IT firms, employed 29,700 people and contributed $3.6 billion dollars to New Zealand’s GDP.

“In addition these firms invested $436 million in R&D in the last year, more than any other sector in the economy.”

Mr Bridges says the report paints a positive picture of a strong and growing sector.

“New Zealand’s ICT sector is rapidly maturing. There are more firms in the sector - both large and in start-up phase. And there are more investors - both local and international. This is clear validation of New Zealand’s ICT sector by the market.”

Mr Bridges says the Government is supporting a digital nation which will drive innovation, improve productivity and enhance the quality of life for all New Zealanders.

“With our continued commitment to the sector, including our nationwide roll out of Ultra-Fast Broadband, we are seeing New Zealand firms develop and commercialising cutting edge technologies, competing with the best and brightest globally.

“Our strong emphasis on innovation and growth, diversification of the economy and providing an economic environment in which entrepreneurs and investors feel confident about starting and growing new smart businesses, is paying off.”

The full report can be found here:

Key findings from the report

· 10,700 more jobs in computer system design today than in 2010.

· 54 computer system design firms that employ more than 100 people – nine more than in 2015. This is now about the same number of large firms as in the machinery and manufacturing sector.

· $436 million spent by computer services businesses on R&D – indeed much of the recent growth in business R&D is due to businesses in this sector.

· Average salaries and wages close to $100,000 in computer system design firms (twice the New Zealand average).

· Exports close to a $1 billion.

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