Contact: Dennis Sienko, 847.368.9490, dennis_sienko@aeanet.org

Rolling Meadows, IL, June 26, 2002— Missouri’s high-technology industry lost 470 jobs in 2001, with tech employment totaling 90,100 jobs. This was a dramatic change from the previous year, when tech employment grew by 10,900, according to Cyberstates 2002: A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

Cyberstates 2002 also shows that venture capital investments in Missouri declined by 55 percent between 2000 and 2001, dropping from $756 million to $339 million.

Electronics exports from Missouri also declined in 2001, falling 22 percent to $558 million from $718 million in 2000. Missouri’s high-tech industry exports represented nine percent of total exports from the state in 2001.

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.

What Does High Tech Mean for Missouri?

• High-tech workers earned an average wage of $51,700 (30^th ranked), or 64% more than the average private sector wage in 2000

• 4,300 high-tech establishments in 2000, ranked 18^th nationwide

• High-tech exports totaled $558 million, ranked 32^nd nationwide

• High-tech exports represented 9% of Missouri’s exports

• A drop of $160 million in high-tech exports between 2000 and 2001

• Venture capital investments declined by 55% between 2000 and 2001, dropping by $417 million

• Home Internet access totaled 50%, ranked 30^th nationwide

• 18^th in semiconductors manufacturing employment with 2,200 jobs

Source: Cyberstates 2002
Data are for 2001 unless otherwise noted.
2000 data are the most current for wages, payroll, establishments, and industry segment jobs.