 | |||||
 About AeA
| |||||
|
AeA Member Directory
| |||||
|
Business Services & Savings
| |||||
|
Education & Training
| |||||
|
Events
| |||||
|
Financial Conferences
| |||||
|
Government Affairs
| |||||
|
Gov't & Commercial Markets
| |||||
|
Industry Reports & Surveys
| |||||
|
Insurance Programs
| |||||
| Press Room & Newsletters | |||||
 | |||||
Regional Offices & Councils 
| |||||
| Unlock the power of AeANET | |||||
| |||||
 | |||||
 | |||||
|
| |||||
| |||||
 |
) indicate exclusive features available to AeA Members.
| Membership Benefits | Join AeA | Get Involved | Policy Priorities | Contact Us | Site Map |  |
||
|
||||||||
Contact: Richard Lerman, 516.393.5838, richard_lerman@aeanet.org New York Tech Industry Adds 2,500 Jobs in 2001 Venture Capital Investments Plummet in New York, Dropping by 71 Percent Syosset, NY, June 26, 2002 — New York’s high-technology industry added 2,500 jobs in 2001, with tech employment reaching 364,900. This was a considerable slowdown from 2000 when New York added 26,500 tech jobs, 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 New York experienced a dramatic 71 percent drop in venture capital investments, falling from $7.5 billion to $2.2 billion, between 2000 and 2001. Likewise, electronics exports from New York also decreased 12 percent in 2001, to $8.1 billion from $9.2 billion in 2000, compared with a national decline of 15 percent. New York’s high-tech industry exports represented 19 percent of total exports from the state in 2001. "The latest Cyberstates report shows clearly that New York's strong and resilient economy has weathered the technology slowdown better than most other states. New York's tech industry is still the third largest nationwide, only after California and Texas," said AeA NY Council incoming Chairman George Fox, Group Vice President – Electronics, EDO Corporation. Current Chairman Ken Stenton, Vice President and General Manager of Veeco Instruments concurred, "We are pleased to learn that the industry in general grew by 1% and that New York held its own through this difficult time. We look forward to a revived economy and the expansion of our products through the securities needs of our nation." 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 York?
New York’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. |
Printer Friendly Version
Email This Document
Update My Interests
Related Information