5G will generate more than 30,000 jobs in state in next decade: Study

LEXINGTON, Ky. (WTVQ) – According to a new report from BCG, in collaboration with CTIA, Kentucky is set to gain 33,210 5G-related jobs by 2030.

Meanwhile, several other metro areas will see an increase in jobs related to the 5G economy, including Lexington-Fayette (6,295), Cincinnati (6,314) and Louisville (13,441).

Based on these projections, Kentucky will see a 162% increase in 5G-related jobs over the current number of 4G-releated jobs in Kentucky.

Kentucky will also see a bump in GDP growth from 5G of $10,786,032,000 during the same period.

Nationwide, the 5G Economy will create up to 4.6 million jobs and add up to $1.7 trillion to the country’s GDP — the equivalent of the world’s current 13th largest national economy.

The research also suggests three industries are set to benefit the most:

  • Information services, which will see job growth of 205,000 and contribute $217 billion to the GDP
  • Manufacturing, which will see a boost of 380,000 jobs and contribute $165 billion to the GDP
  • Health care, which will see 341,000 new jobs and contribute $104 billion to the GDP

5G will enable new innovative services that transform all sectors of the economy and reach all regions of the U.S., helping the economy to recover from COVID and putting people back to work – much like the wave of 4G innovation did after the 2008-09 recession.

The full report is available at this link.

Categories: Local News, News, State News

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