The technical skills gap in the U.S. has left more than 700,000 jobs unfilled in our country that, if filled, could potentially pour billions of dollars back into the U.S. economy.

alliantgroup has created an infographic to illustrate just how severe the software and tech industry’s dilemma is, and how it came to be.

According to the infographic, a rapid increase in tech usage from U.S. businesses combined with a severe lack of American STEM graduates has left businesses without the requisite talent to innovate in order to compete with our foreign competitors.

However, there is a proposed solution to this dilemma: the very tax credit that was created by Congress in order to spur innovation in the U.S. to put give businesses the capital they need to hire new talent, purchase new equipment or infrastructure and compete like never before.

The Research and Development Tax Credit can be used by software and tech companies of all sizes to attract talent through competitive wages, spur innovation and drive revenue all while attracting more future talent to STEM fields, the infographic shows.

Click here to view alliantgroup’s infographic and to learn more about how the software and tech industry might be able to face this crisis through the R&D Credit.