Newspaper article The Journal (Newcastle, England)

Better-Connected Tech Could See PS5.7bn Bonus; TECHNOLOGY

Newspaper article The Journal (Newcastle, England)

Better-Connected Tech Could See PS5.7bn Bonus; TECHNOLOGY

Article excerpt

Byline: COREENA FORD coreena.ford@ncjmedia.co.uk

THE North East's booming tech sector could help to create PS5.7bn bonus for the region with better collaborating between local industries and public services, a report has claimed.

New research commissioned by Tech North - part of Tech City UK - has found that the digital sector is fuelling economic growth, with jobs within the sector being created 10 times faster than any other.

The report, published by the RSA and Impact Hub, also found that the region's digital workers enjoy a 60% wage premium over counterparts in the rest of the economy.

However, the Digital Powerhouse report also claims the sector is not realising its full potential, and that better collaboration between tech businesses, surrounding industries and public services would drive it even further and help to create thousands more jobs.

The report's author, RSA associate director Benedict Dellot, said: "For many people, the tech industry conjures up images of billion-dollar IPOs, celebrity founders and cult brand followings.

"Our report argues that the North's tech clusters can pioneer a different way of doing tech.

"Rather than be isolated and inward-looking, tech businesses should be woven into the fabric of their local communities, supporting them as they seek to navigate their way through a new digital era that will bring tremendous challenges.

"Whether it is an 'edtech' company working with local schools to bring e-learning into the classroom, or a data analytics company helping manufacturers improve machine efficiency on the factory floor, the scope for win-win collaborations in the North is vast."

The report found that productivity of digital workers is 53% higher than that of non-digital worker which, in turn, has fed into higher earnings. Raising productivity to the national average for tech workers, however, would result in a PS5.7bn increase in GVA for the northern economy. …

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