The “App Economy” Supports Nearly 500,000 American Jobs
TechNet, a network of leaders from across the tech and innovation sectors of the economy, recently released a report highlighting the size of the “App Economy” as of the end of 2011. According to TechNet’s study, the “App Economy” already supports nearly 500,000 jobs in the United States alone. The “App Economy” work force is located throughout the country, and states as diverse as Georgia, Texas, New York, California, and Washington are all major hubs for this burgeoning industry. Not only is this industry creating jobs, but it is a growing driver of economic activity. Last year, the “App Economy” counted for nearly $20 billion in revenue – a figure that could rise exponentially in the coming years.
This report highlights the growing need for tax certainty in this sector. Business and entrepreneurship surrounding digital goods is showing itself to be a major driver of growth in today’s economy. Both businesses and consumers need guidance and protections to ensure that an array of overlapping and inconsistent state and local rules don’t strangle this growing industry in its infancy.
More information on TechNet’s report, including the full text of the study, is available here.
More information on legislation dealing with protecting consumers and businesses is available here.