Economic study

Economic Study Finds Internet Contributes to 230,000 Jobs and $81 Billion to Washington State’s GDP

Local businesses join a coalition to share how their businesses are benefiting from the Internet.

SEATTLE, April 6, 2022 /PRNewswire/ — After a recent economic study established direct links between the Internet ecosystem and economic growth in washington state, WashingtonNew York-based business owners are joining the national coalition, Internet for Growth, to help tell their individual stories of how they and their businesses have benefited from the Internet ecosystem.

The Economic Impact of the Market-Making Internet, a study published every four years by the Interactive Advertising Bureau (IAB), finds that the Internet has contributed $81.1 billion to the state’s GDP in 2020, and represents approximately 230,000 jobs in Washington.

The growth in washington state Internet jobs have been remarkable, growing from around 65,000 in 2012 to 230,000 in 2020, a growth rate of 254%.

Recently, the IAB helped launch a national coalition, Internet for Growth, to help capture the stories of the millions of creators, entrepreneurs, and small businesses who rely on the ad-supported Internet so that, When policymakers consider regulations, they have a full understanding of how the Internet is being used to help grow and transform our economy. Internet for Growth has over 300 small business members, many of which are based in Washingtonincluding Brandy Miller with Miller Girls Dog Walking Services at White salmon, WA and Logan Niles with The Pot Pie Factory in West Seattle.

“This growth clearly shows how essential the internet is to the economy of washington state, for businesses of all sizes and in all industries,” Miller said. “That’s why I joined the Internet for Growth coalition. I want policy makers to understand how critical the internet has been to my business and how important it is to every part of our state’s economy.”

According to the study, six of from washington 10 congressional districts have at least 10,000 Internet-dependent jobs. In two of these districts, Internet-related jobs employ at least 9% of the population.

This dramatic job growth can be attributed to a number of factors, including the Internet’s ability to improve and refine advertising and marketing approaches, especially for small businesses.

“The internet lowers the cost of entry for all businesses, but it offers a significant advantage to small businesses,” Niles said. “Small businesses and the self-employed created 38% of jobs on the Internet, a higher percentage than medium-sized (28%) or large businesses (34%). This clearly shows how the Internet is democratizing business creation, enabling smaller businesses to be competitive.”

“I rely on the internet for the majority of my sales,” Niles said.

Nationally, the study finds that the internet economy has grown seven times faster than the overall US economy, creating more than 7 million jobs over the past four years.

About Internet for Growth

Internet for Growth, an initiative of the Interactive Advertising Bureau, supports the transformative role the ad-supported Internet plays in empowering America’s small businesses, helping entrepreneurs turn their ideas into reality. Supported by a diverse community of over 700 IAB members, including marketers, agencies, publishers, platforms and ad tech providers, as well as hundreds of small businesses and creators, we’re showcasing highlights the benefits the Internet brings to local economies, expanding opportunities for innovators to reach markets far beyond their neighborhoods. Our work ensures that people understand the limitless opportunities the Internet offers for creativity and commerce, fair competition, and connection with consumers on mutually shared values ​​and interests, regardless of background or geography.

Contact: Dayna Lurie
[email protected]

SOURCE Internet for Growth