A world leader in 3G, 4G and 5G wireless technologies, Qualcomm is San Diego County’s largest publicly traded company. The locally-grown company has, quite literally, put the smart in our smart phones.
More than that though, Qualcomm has poured into the San Diego community. Its innovation and investment in this region has catalyzed life-changing developments in robotics, unmanned systems and mobile health, as well as inspired more than 3,300 students to pursue careers in STEM through its Thinkabit Lab.
And as Qualcomm juggles an unsolicited offer from Broadcom and a record-breaking acquisition of NXP Semiconductors, there is no denying that this San Diego tech innovator has shaped the region’s economy and connected millions across the globe.
EDC recently produced an economic impact assessment of Qualcomm, based on 2017 data. The numbers:
- In 2017, the total economic impact of Qualcomm on the San Diego region’s economy was an estimated $4.9 billion. This is equivalent to 35 Comic-Cons.
- While Qualcomm directly employs 13,000 people locally, Qualcomm’s presence in the region impacts an estimated 36,050 jobs when considering direct, indirect and induced effects (expenditures of production, B2B spending and local spending of wages by employees and other businesses).
- Every dollar generated directly by Qualcomm results in an increase of almost $2 in the San Diego region’s GDP.
- In 2017, Qualcomm impacted approximately $3.4 billion in wages in the regional economy.
- In 2017, Qualcomm impacted an estimated $7.9 billion in economic activity (output).
EDC will release the full economic impact assessment on Qualcomm in April. Stay tuned.
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