Shop Talk: PA responsible for three percent of all VC-created jobs, 6th in nation

When it comes to ranking private equity markets by the number of deals completed, Philadelphia typically ranks in the upper-half of the middle of the pack. So when the National Venture Capital Association released a report yesterday categorizing markets by state instead of by region, where did Pennsylvania land?
Around 6th place.
Despite Philadelphia ranking ninth in deals made and twelfth in total-invested in Q3, Pennsylvania ranks sixth in the nation when it comes to the percentage of jobs created through private equity investment.
The numbers were released Tuesday by the National Venture Capital Association as part of Global Entrepreneurship Week. The NVCA has been releasing a VC report every day, including the results of interviews with 500 CEOs and VCs.
So as we do every so often, allow us to peel apart the boring spreadsheets to surmise what this means for our fair city.

It should be noted that the report only uses the jobs posted on StartupHire.com, a job board for startups, as a sample. According the report, the site is tracking over 11,000 VC-created jobs at 2,500 companies.
The state is responsible for 3.36 percent of all VC-based job postings, despite only being responsible for 1.13 percent of the deals in Q3. Ahead of Pennsylvania were California (38.98 percent), Massachusetts (7.9 percent), New York (7 percent), Texas (6 percent) and Washington State (3.7percent).
While not the biggest of markets, it looks like the state and the region are well positioned for attracting startups outside of California. When separated by region, the Mid-Atlantic states rank second in total VC-created jobs ahead of New England and behind California. Of the Mid-Atlantic states, only New York boasts more jobs (750) than Pennsylvania.
By the way, according to the report, Wyoming has only one VC created job available.

JOBS BY INDUSTRY

In addition to a state-by-state breakdown of VC-created jobs, NVCA also released the VC jobs available by industry.
The numbers again confirm Philadelphia status as a second-tier market relying primarily on investment in the life science industry. Although the Philadelphia market only closed on two deals in the software and IT services industry in Q3, biotech and healthcare jobs, which often anchor the region’s venture capital investment, ranked highly.

Every Wednesday,�Shop Talk shows you what goes into a tech product, organization or business in the Philadelphia region. See others�here.