TECHNOLOGY ECONOMY

Whatcom County is a growing hub for technology-based business. A survey done by TAG in 2007 has identified 574 technology-based companies in the county. Three of these - Toolhouse Design Company, Ryzex and Logos Bible Software, rank among 5000 fastest growing privately owned businesses in the nation¹. It has one of the highest technology job growth per capita in the state at 10 percent.

Bellingham has exhibited strong potential for growth in the technology sectors in terms of jobs, patent generation and financial capacity. It has the highest company formation rates in the state².

 

Whatcom County has the 7th largest technology based employment in Washington state³. 

 

 The technology jobs make up 8 percent of overall employment in the county. Also, average annual wages is higher in the technology sector as compared to overall average annual wage². 

 

There has been a growth in the primary technology employment sectors in the county. For example, Bellingham has experienced a growth in jobs in custom computer programming services².

Occupations in fields such as electronics, chemical, mechanical, civil, computer software engineers, architects, physicians and surgeons have an expected average annual growth rate of at least 2.8 percent over the period 2004 and 2014⁴.

The county has many assets that make it an ideal city for technology-based business opportunities:

• A strong education base - Western Washington University, Whatcom Community College, Bellingham Technical College and Northwest Indian College

• Proximity to thriving urban technology centers such as Seattle, WA and Vancouver, B.C.

• Existing economic development organizations, business advocacy groups and trade associations (Some of them are listed on our Partners page)

• An active and fast growing source of early-stage capital through Bellingham Angel Investors

• The potential for clustering, new company formation and spin-outs from existing companies

• The creation ofInnovation Partnership Zone by Port of Bellingham on Bellingham's Waterfront District, which is one of the 5 zones in the state to be awarded $1 million dollars for economic development

• The Northwest Consortium for Technological Innovation and Development initiative by Western Washington University's College of Science and Technology to bring together higher education, government and private sector partners to promote and support growth of a technology-based economy.

All these facts are a good indicator of growth potential.

^{1. Source Inc Magazine}

^{2. 2005 Index of Innovation and Technology, Washington Technology Center}

^{3. Technology Alliance}

^{4. Washington State Employment Security Department}