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Connecticut Loses Tech Jobs in 2001 Venture Capital Investments and Technology Exports Also Fall Woburn, MA, June 26, 2002—Connecticut’s high-technology industry lost jobs last year, with employment dropping by one percent, totaling 80,700. This is a dramatic change from the previous year when technology employment in Connecticut increased by 5,600 jobs, according to Cyberstates 2002: A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA. Likewise, Connecticut experienced a dramatic decline in venture capital investments, dropping by 69 percent between 2000 and 2001 from $1.7 billion to $527 million. Cyberstates 2002 also shows that electronics exports from Connecticut also decreased 16 percent in 2001, to $3.6 billion from $4.1 billion in 2000, compared with a national decline of 15 percent. "Connecticut's tech industry weathered some tough times during the technology slowdown in 2001, experiencing a decline in employment, tech exports, and venture capital investments. However, Connecticut's technology economy is strong, and the business environment is positive," said Anne Doherty Johnson, executive director, AeA New England Council. "The technology industry plays an important role in Connecticut economy, representing 56 out of every 1,000 jobs and employing nearly 81,000 individuals." Nationally, Cyberstates 2002 shows that high-tech industry employment grew slightly in 2001, reaching 5.6 million, compared to 5.5 million in 2000. This one percent increase illustrates the effect of the technology slowdown in 2001, compared to nine percent growth in 2000. Cyberstates 2002 is the sixth edition of AeA’s Cyberstates reports. The study includes nine chapters detailing national and state trends in employment, wages, and exports. Venture capital investments, research and development (R&D) expenditures, and computer and Internet home use are also examined. The report includes state rankings for each indicator. Cyberstates 2002 is based on the most current U.S. government data available. AeA members can purchase the Cyberstates 2002 report for $95; non-members for $190. Call AeA at 800.284.4232 or 408.987.4200. Cyberstates 2002 is part of AeA’s cyber report series, which includes Cybernation 2.0, CyberEducation 2002, and Cybercities. What Does High Tech Mean for Connecticut?
Connecticut’s National Industry Segment Rankings: (Start here)
Source: Cyberstates 2002 Published by the AeA, Advancing the Business of Technology (www.AeAnet.org) # # # Advancing the business of technology, AeA is the nation's largest high-tech trade association. AeA has more than 3,500 member companies that span the high-technology spectrum, from software, semiconductors and computers to Internet technology, advanced electronics and telecommunications systems and services. With 18 regional U.S. councils and offices in Brussels and Beijing, AeA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. AeA has been the accepted voice of the U.S. technology community since 1943. This page was last updated on 06/25/02. |
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