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On today’s Business Beat, Jeff shares a DBusiness report that Michigan is benefitting significantly from the Apple IOS App economy, to the tune of 45,000 jobs.
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Good morning, Paul!
Well, our good friends at DBusiness have just published an article written by Jake Bekemeyer that indicates that new research from the Progressive Policy Institute finds Apple’s iOS app economy supports more than 45,000 jobs in Michigan. And those employees contribute to the development of apps, helping friends and neighbors more efficiently work, shop, communicate with loved ones and further their businesses in today’s digital world.
We know well that the Apple iOS App Store economy has created opportunity nationwide, but who knew that the Michigan economy was so positively impacted specifically? Well, now we do. The research along with an independent analysis conducted by economists from analysis group on behalf of Apple called Spotlight on Small Business and App Creators on the App Store also showed earnings for all app developers increased, but earnings for small app developers rose more significantly 113% since 2019, over the previous two years. In the U.S., those smaller developers defined as those brands earning up to a million dollars a year and with fewer than 1 million annual downloads saw an above average increase of 118% in earnings since 2019. And all of this just goes to show how good that economic sector is and how much it contributes to the overall economy.
Here’s the cool thing about this news, Paul. It goes to show how we are moving more and more toward a tech-based economy here in Michigan and this diversity is nothing but healthy. Tech workers generally command higher wages and, of course, that helps the tax base grow and tech companies like these app companies recruit tech workers into the state, helping us grow our tech community and helping us retain young workers just entering the job market who want to work for a cool tech company like those developing new apps. So this is good news all the way around, Paul.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.