New Jersey Ranks 8^th by Tech Employment

New Jersey Ranks 5^th by Tech Wages

Warren, NJ, June 5, 2001—New Jersey's high-tech industry employment grew last year by 5,700 jobs to 194,900 in 2000, making it the 8^th largest state by tech employment, according to Cyberstates 2001: A State-by-State Overview of the High-Technology Industry, a new analytical report released today by the AeA and The Nasdaq Stock Market.

AeA’s Cyberstates 2001 report also found that New Jersey's tech workers made $71,800 in 1999, the 5^th highest average wage in the nation. New Jersey's tech workers made 76 percent more than the state's private sector workers. The average high-tech wage in New Jersey grew by 22 percent, or by $13,000, between 1994 and 1999, adjusted for inflation.

Cyberstates 2001 also examines 2000 electronics merchandise exports from each state. New Jersey exported $3.9 billion worth of high-tech goods, an increase of $1.5 billion from 1997, the 7^th largest increase in the nation. Exports from the high-technology industry represent 21 percent of the total exports from New Jersey.

An important factor in driving New Jersey’s technology industry is venture capital. New Jersey received $4 billion in venture capital investments last year, the 6^th ranked state by this measure. Research and development is also an important factor for the technology industry. New Jersey ranked 5^th in R&D expenditures at $11.4 billion in 1998.

"New Jersey is an important high-tech center for the nation's growing tech industry. We are proud to be the fifth largest state in data processing and information services employment," said Bill Kroll, Senior Vice President of Matheson Tri-gas and Chairperson for New Jersey-Pennsylvania Council.

Nationally, Cyberstates 2001 shows that high-tech industry employment totaled 5.3 million in 2000, compared to 5.1 million in 1999. This 4.6 percent increase was the slowest since 1994.

Cyberstates 2001 is the fifth and most comprehensive 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 2001 is based on the most current U.S. government data.

AeA members can purchase the Cyberstates 2001 report for $95; non-members for $190. Call AeA at 800-284-4232 or 408-987-4200. Cyberstates 2001 is part of AeA’s cyber report series, which includes Cybernation 2.0, CyberEducation, and Cybercities.

194,930 high-tech workers (8^th ranked cyberstate)

34,600 jobs added between 1994 and 2000, the 13^th largest increase of all cyberstates

High-tech firms employ 59 of every 1,000 private sector workers, ranked 10^th nationwide

High-tech workers earned an average wage of $71,753 (5^th ranked), or 76% more than the average private sector wage

New Jersey’s average high-tech wage increased 22%, or by $13,000, between 1994 and 1999, adjusted for inflation

A high-tech payroll of $13.6 billion in 1999, ranked 8^th nationwide

11,225 high-tech establishments in 1999, ranked 5^th nationwide

High-tech exports totaled $3.9 billion, ranked 13^th nationwide

High-tech exports represented 21% of New Jersey’s exports

Venture capital investments of $4 billion, ranked 6^th nationwide

R&D expenditures of $11.4 billion in 1998, ranked 5^th nationwide

Home computer penetration reached 54%, ranked 15^th nationwide

Home Internet use totaled 47%, ranked 9^th nationwide

5^th in data processing and information services employment with 21,300 jobs

5^th in rental, maintenance, and other computer services employment with 27,100 jobs

6^th in defense electronics manufacturing employment with 9,300 jobs

Source: Cyberstates 2001 data are for 2000 unless otherwise noted
1999 data are the most current for wages and industry segment jobs
Published by AeA, Advancing the Business of Technology (www.aeanet.org)

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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 12/13/01.