 Because of both governmental and private funding in the diversification of its economy, the city has become an international reference in Information Technology and Biotechnology, and is also cited because of the advanced corporate and university research in Biodiesel fuel.The number of jobs in the Information sector has been growing at annual rates above 50%.The Belo Horizonte Metropolitan Area, composed of 33 cities under the capital's direct influence, is home to 16% of the country's biotechnology companies, with annual sales of over R$550 million.