Home Advertising Google says it pumped $2.7 billion into CT economy last year

Google says it pumped $2.7 billion into CT economy last year

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A new study released by Google maintains that the search engine behemoth was responsible for generating $2.71 billion in economic activity for Connecticut businesses last year.

According to the Mountain View, California company’s annual Economic Impact Outlook report, some 15,000 Connecticut businesses, website publishers and nonprofits benefited from using Google’s advertising tools AdWords and AdSense. Google also said that $6.86 million of free advertising was provided to Connecticut nonprofits through the Google Ad Grants program.

Nationwide, the company said its tools helped generate $222 billion of economic activity for 1.5 million businesses, website publishers, and nonprofits in 2016. The survey cited Interactive Advertising Bureau data showing that $1.12 trillion, or 6 percent of U.S. gross domestic product, was generated by the internet last year – a figure that has more than doubled since 2012, growing at five times the average U.S. GDP growth rate.

The report further noted that 10.4 million jobs were created across the nation by the internet in 2016, with 86 percent of that activity taking place outside major tech hubs.

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