TECH REPORT 2024
EXECUTIVE SUMMARY
449 3,754
Tech jobs added in the last year
Tech jobs added since 2021
Top tech occupations in Greater Grand Rapids: 6,770 $83.3k 10 Deals VC Activity in 2024 YTD Tech job postings
Median salary
13% 13% 9%
Industrial Engineers Software Developers
$20.2 Million value
Mechanical Engineers
Named a 2024 Top Emerging Tech Market by CBRE
All data in this report is based on the Grand Rapids-Wyoming Metropolitan Statistical Area and is preliminary as of Q3 2024, unless noted otherwise. Tech Job Postings are based on data collected from August 1st through July 31st to ensure timeliness. DATA NOTES
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TECH REPORT 2024
EXECUTIVE SUMMARY
THE STATE OF TECHNOLOGY
3,754 Tech Strategy Progress Tech jobs added since 2021* Total tech jobs in Greater Grand Rapids: TECH JOBS IN GREATER GRAND RAPIDS
39,123
GOAL: 20,000 Tech Jobs Over 10 Years
2,500
7,500
12,500
17,500
0
5,000
10,000
15,000
20,000
Source: Lightcast
New Tech Initiatives
West Michigan AI Lab: Beginning in January 2024, companies from across Greater Grand Rapids created a group dedicated to expanding the region’s knowledge, expertise, and innovation in the artificial intelligence space. The West Michigan AI Lab hosts regular meetup events exposing people to recent breakthroughs and innovations in AI. The group welcomes both experienced professionals and curious beginners and centers on AI trends, thought-provoking discussions, and networking.
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TECH REPORT 2024
TECH JOBS IN GREATER GRAND RAPIDS
TECH JOB BREAKDOWN
Industrial engineers and software developers comprise the highest concentrations of tech occupations in Greater Grand Rapids, each clocking 13% of the total tech workforce. Industrial engineering and software development jobs grew by 2.2% and 4.3% from 2023 to 2024.
Top Ten Tech Occupations
13%
Industrial Engineers
13%
Software Developers
9%
Mechanical Engineers Electrical, Electronic, & Electromechanical Assemblers, Except Coil Winders, Tapers, & Finishers Computer User Support Specialists
8%
8%
5%
Computer Numerically Controlled Tool Operators
5%
Computer & Information Systems Managers
4%
Architectural & Engineering Managers
4%
Computer Systems Analysts
4%
Industrial Engineering Technologists & Technicians
0%
2.5%
5%
7.5%
10%
12.5%
15%
Source: Lightcast
New Tech Initiatives
Go Beyond
The inaugural Go Beyond event hosted more than 80 mid-career-level women in STEAM (science, technology, engineering, arts, and mathematics) fields. The event aims to break down barriers, improve accessibility, and foster progress in Greater Grand Rapids tech sector by encouraging collaboration, informal sharing, and establishing mentoring relationships.
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TECH REPORT 2024
TECH JOB BREAKDOWN
TECH JOB POSTINGS
Unique tech job postings reached 6,770 in 2024, a 15% decline compared to the prior year. The number of tech job postings peaked at 8,579 in 2022. At a national level, tech job postings declined 18% from 2023 to 2024. Tech market volatility and performance dips among leading tech companies may be contributing to fewer tech job postings in 2024.
Tech Job Postings 2014 - 2024 *
10,000
8,000
6,000
4,000
Advertised Median Tech Salary (August 2023 to August 2024)
2,000
0
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Source: Lightcast
In 2024, computer science, automation, and SAP applications comprised the most highly sought-after tech skills based on a review of tech job postings. Companies are consistently looking for candidates with experience in programming languages and platforms including SQL, Microsoft Azure, and AutoCAD.
In-Demand Specialized Tech/Software Skills 2024
Computer Science
268
Automation
223
SAP Applications
182
SQL (Programming Language)
149
Software Development
130
Microsoft Azure
123
Software Engineering
110 108
AutoCAD
Artificial Intelligence Data Analysis
96
93 93
Number denotes individual job postings referencing skill
JavaScript (Programming Language) Application Programming Interface (API) Scrum (Software Development) Python (Programming Language)
89
84
65
C# (Programming Language)
56
0%
2%
4%
6%
8%
10%
12%
14%
Percentage of Job Postings
Source: Lightcast
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TECH REPORT 2024
TECH JOB POSTINGS
TECH IN HIGHER EDUCATION
Grand Rapids Community College (GRCC) was awarded a $5.5 million training grant from U.S. Department of Labor to expand its degree and certificate programs in AI, data science, and automation. As part of its AI Certificate Program, GRCC recently launched an AI Incubator to integrate AI-driven technologies throughout GRCC and the community. Ferris State University’s (FSU) Center for Virtual Learning houses the university’s artificial intelligence, data science and analytics, software engineering, and other high-tech fields. The Center provides students with cutting-edge technology to enhance student learning in a digital environment. The university’s AI program is accredited by the National Security Agency and Department of Defense. Faculty and students from FSU’s AI Program recently developed two virtual AI “students” who will enroll in classes and participate in classroom activities alongside their peers. The project seeks to assess and understand how AI can be better positioned to aid in learning. The Blue Dot ecosystem at Grand Valley State University is an economic catalyst, integrating human ingenuity, technology, innovation, and public-private partnership to drive regional growth and inclusive prosperity. It raises the bar for: • Digital Literacy Among All Students • Exponential Expansion of Tech Talent for the Region • Translating Solutions & Research into Impact • The Creation of a New College of Computing: Bridging the Gap Between Industry and Academia Davenport University is a leader in cybersecurity training in Greater Grand Rapids. The University was recognized by the National Security Agency and Department of Homeland Security as a National Center for Academic Excellence in Cyber Defense through 2026. Davenport, in partnership with the Department of Defense, offers a Cyber Service Academy scholarship for undergraduate upperclassmen ($29,000) and graduate students ($34,000).
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TECH REPORT 2024
TECH IN HIGHER EDUCATION
VENTURE CAPITAL 2023 ended with the highest number of venture capital deals (31) closed in the past decade. This compares to the 22 deals completed in 2022 and the 28 deals completed in 2019 (the previous high point).
13% 10% 16% 13% Industries Including: comprised the majority of deals in 2023. THERAPEUTIC DEVICES CLINICS/ OUTPATIENT SERVICES BUSINESS & PRODUCTIVITY OTHER HARDWARE
Volume
30 35 40 25 20 15 10
Through 8/31/24
0 5
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024*
Source: Pitchbook
Value
2023 saw the second highest year for deal value since 2015, reaching $141.1 million and outpacing the previous year’s deal value by nearly $60 million. Deal value reached $20 million YTD in 2024.
$160M $140M $120M $100M $80M $60M $40M $0 $20M
Through 8/31/24
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Source: Pitchbook
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TECH REPORT 2024
VENTURE CAPITAL
HIGH-TECH TALENT 18th 6th 12th 16th High Tech Employment in 2023 High Tech Job Growth (2019 to 2023) High Tech Wage Growth (2019 to 2023) High-Tech Talent Degree Grads in 2022 CBRE recognized Greater Grand Rapids as one of the top 24 emerging tech markets in North America for high tech talent*. Here is how we rank:
Source: CBRE Scoring Tech Talent 2024 *High-tech talent refers to industries and occupations predominately in the computer science and digital fields.
All numbers represent high-tech employment in 2023. Percentages reflect growth in high tech employment over five years.
Tech Employment & Growth in Comparable Cities
Boise 11,910 (1.4%)
Grand Rapids 16,320 (21.8%)
Stamford 16,350 (39.5%)
Des Moines 19,180 (5.1%)
Louisville 17,620 (-13.4%)
Colorado Springs 20,160 (12.3%)
Oklahoma City 23,300 (8.6%)
Huntsville 25,910 (17.9%)
Birmingham 16,570 (3.7%)
Tucson 16,710 (0.8%)
Source: CBRE Scoring Tech Talent 2024
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TECH REPORT 2024
HIGH-TECH TALENT
SCALING GREATER GRAND RAPIDS TECH
Ludus chose downtown Grand Rapids as the headquarters for its digital ticketing sales platform to schools, theaters, performing arts centers, and other institutions with ticketing and other services. Ludus was launched as a side project by a theater director and student. Since then, the company has grown to serve 3,000 customers across the U.S. Beyond digital ticket sales, Ludus also offers online marketing and fundraising tools for its customers.
Founded in 2022, DecentraCare has created a market-based approach for healthcare services and products. This software platform connects organizations and individuals with health solutions through transparent ratings and pricing.
New Tech Initiatives
The Right Place Technology Council Steering Committee & Workgroup In January 2024, the Technology Council launched a steering committee to implement the 10-year Tech Strategy. The steering committee established workgroups around the Tech Strategy’s three pillars: Business Growth, Talent, and Ecosystem. Community and business volunteers regularly collaborate to develop the framework for the objectives and opportunities outlined in the strategy.
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TECH REPORT 2024
SCALING GREATER GRAND RAPIDS TECH
SCALING GREATER GRAND RAPIDS TECH
VanData Consulting merged under the Mutually Human brand in March 2024. The merger combines the data engineering and analytics services of VanData with the digital engineering expertise of Mutually Human. The merger addresses the interest and innovations in artificial intelligence and machine learning in Greater Grand Rapids.
NuWave Technology Partners is a managed information services company that has grown organically and through acquisition, including the 2024 acquisition of Lansing- based Rapid Green IT Service. The most recent acquisition will add cybersecurity, artificial intelligence, and other capabilities.
Released in August, the AI for Manufacturing Roadmap is the result of months of research and strategic planning by The Right Place’s Manufacturing Council. The Roadmap empowers manufacturers to explore and integrate AI into their organizations through practical implementation strategies. New Tech Initiatives
AI for Manufacturing Roadmap
Click Here to Learn More
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TECH REPORT 2024
SCALING GREATER GRAND RAPIDS TECH
TECH WEEK
Tech Week GR 2024
70+ 100+ 90+
Tech Week GR Events, doubled from 2023
Businesses participating, twice the amount as last year Speakers on AI to XR and everything in between
Tech Week GR returned in 2024 to showcase the vibrant tech community in the region. This six-day event included panel discussions, hands-on-tech exhibits, networking opportunities and more. “Freakonomics” author, Stephen Dubner, kicked off this year’s event with a keynote address.
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TECH REPORT 2024
TECH WEEK
AUTHOR’S PAGE
Authors
John Wiegand Business Intelligence & Research Manager
Jennifer Wangler
Vice President, Technology Director, Technology Council of West Michigan
Matthew Streeter
Eric Heys
Marketing Coordinator
Business Intelligence Intern
Contributors
Rafael Martinez Business Intelligence & Research Manager
Brad Comment Senior Vice President, Strategic Initiatives
Randy Thelen President & CEO
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TECH REPORT 2024
AUTHOR’S PAGE
125 Ottawa Ave NW, Suite 450 Grand Rapids, MI 49503 info@rightplace.org 616.771.0325
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