The latest annual report by the Raleigh-based NC TECH Association said that the industry has 323,199 workers or 6.7% of the state’s workforce. The state’s tech sector is building upon its momentum in recent years and edging higher in national rankings.

Based upon 2023 statistics, the industry’s five-year growth of 18.8% was the eighth highest growth rate in the U.S. and advanced from 10th place a year earlier.

“North Carolina’s tech economy is benefitting from strong levels of domestic migration, foreign direct investment, new business starts and a lower cost of living,’’ the report said. The state ranked among the top 15 states for each of these metrics.

Women accounted for nearly 39% of North Carolina’s tech workforce, keeping the state atop that ranking nationally, the association said. Tech occupations increased by almost 31% in the past five years, ranking as the fourth-fastest growing in the U.S.

The association’s 11th annual report benchmarks the performance of North Carolina’s tech sector against other states and national trends. It’s aimed at lawmakers, innovation organizations and companies eyeing the state for relocating headquarters and establishing or expanding operations in the state.

“First and foremost, the report highlights the vibrancy and immense economic impact of North Carolina’s technology sector,’’ the association said.

Statewide, the tech sector trailed only finance and insurance in job creation in the five years through 2023, the association said. Finance and insurance added 55,065 jobs, while tech tacked on 51,248.

As of 2023, an estimated 34,342 tech establishments operated in North Carolina, or 9.2% of the statewide total. Industry earnings of nearly $42 million accounted for 12% of the state’s total, while sector sales totaled $130.2 million, 11.6% of the statewide total.

Technology has emerged as “one of the driving forces in North Carolina’s shifting economy,’’ the report said. As trade-based jobs have declined as a percentage of the state’s economy over the past 20 years, management and knowledge-based jobs have gained.

Management accounted for 6% of occupations in the state in 2023, up from 4% in 2001, according to the report. As a percentage of statewide employment, knowledge-based jobs increased to 27% from 20% over the same period.

“This growth has been driven by jobs in high-wage fields like management, finance, and tech,’’ the association said. It noted that “growth has not been spread across the entire economy as jobs in production, office administration, personal care, and farming have experienced net losses in employment during this time.’’

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