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Contact: Linda Klose, 908.561.3513, linda_klose@aeanet.org New Jersey High-Tech Jobs Up in 2001 Venture Capital Plummets in New Jersey, Dropping by $2.1 billion Warren, NJ, June 26, 2002 —New Jersey’s high-technology industry job base grew by 3,900 in 2001, reaching 197,700. This was down from the 4,600 jobs added in 2000, according to Cyberstates 2002: A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.Electronics exports from New Jersey also increased seven percent in 2001 to $4.2 billion from $3.9 billion in 2000, compared with a national decline of 15 percent. New Jersey’s high-tech industry exports represented 22 percent of total exports from the state in 2001. Cyberstates 2002 also shows that despite these positive factors, New Jersey still experienced a dramatic drop in venture capital investments, 60 percent between 2000 and 2001, from $3.5 billion to $1.4 billion. "New Jersey's strong and diverse economy has weathered the technology slowdown better than most states. With the technology industry responsible for 22 percent of exports and 59 out of every 1,000 jobs, New Jersey's technology industry is still strong," said William Kroll, CEO of Matheson-Trigas and Chairman of the New Jersey-Pennsylvania Council of AeA. 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 New Jersey?
New Jersey’s National Industry Segment Rankings:
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 06/24/02. |
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