Colorado’s Tech Exports Jump by $500 Million
Colorado's Tech Industry Loses Nearly 15,000 Jobs

Broomfield, CO, April 26, 2005 – Colorado's high-tech industry employment fell by 14,700 from 176,900 in 2002 to 162,200 in 2003, the most recent year state data are available.  While Colorado was hit particularly hard by the technology slowdown in 2003, the 2004 high-tech exports were up by nearly half a billion dollars, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

The report found that high-tech exports from Colorado totaled $4.1 billion in 2004, up 14 percent from $3.6 billion in 2003.

"Technology remains a critical industry for the Colorado economy," said Tom McGimpsey, Chair of the AeA Mountain States Executive Board.  "Colorado has the highest concentration of technology workers in the entire United States and technology accounts for over 60 percent of all of Colorado's exports.  Furthermore, we paid our technology workers nearly twice as much as the average private sector worker, for a total payroll of $12 billion. 

The report also found that, despite the technology jobs losses, Colorado still ranked 5^th nationwide in the software publishers industry with 14,400 workers.

Nationally, Cyberstates 2005 shows that the high-tech industry is slowly turning the corner.  High-tech employment was down by only 25,000 jobs out of 5.6 million workers in 2004.  U.S. high-tech exports were up by 12 percent for a total of $191 billion in 2004.  And, technology related venture capital investments were up for the first time in four years.

This eighth annual edition of Cyberstates provides a comprehensive review of the high-tech industry nationally and state-by-state by high-tech employment, wages, payroll, establishments, and trade.  Cyberstates also offers data on venture capital investments and R&D expenditures.

AeA members can purchase the report for $95; non-members for $190.  Visit www.aeanet.org to download the report, or call 800.284.4232 or 408.987.4200.

What Does High Tech Mean for Colorado?

·      162,200 high-tech workers (12^th ranked cyberstate)

·      14,700 jobs lost between 2002 and 2003

·      High-tech firms employed 91 of every 1,000 private sector workers in 2003, ranked 1^st nationwide

·      High-tech workers earned an average wage of $74,500 (7^th ranked), or 91% more than Colorado's average private sector wage

·      A high-tech payroll of $12.1 billion in 2003, ranked 12^th nationwide

·      10,100 high-tech establishments in 2003, ranked 12^th nationwide

·      High-tech exports totaled $4.1 billion in 2004, ranked 10^th nationwide

·      High-tech exports represented 61% of Colorado’s exports, ranked 4^th nationwide

·      Venture capital investments of $444 million in 2004, down 29% from $628 million in 2003

·      R&D expenditures of $4.2 billion in 2002, ranked 19^th nationwide

Colorado’s National Industry Segment Rankings:

·      5^th in software publishers employment with 14,400 jobs

·      7^th in computers and peripheral equipment manufacturing employment with 12,200 jobs

·      9^th in engineering services employment with 26,300 jobs

Source:  Cyberstates 2005

Data are for 2003 unless otherwise noted.

2003 data are the most current for state employment, wages, payroll, establishments, and industry segment jobs.

Published by AeA, Advancing the Business of Technology

NOTE TO EDITORS: Press releases focusing on U.S. high-tech trade as well as on specific states are available on AeA’s website.

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About AeA
AeA, founded in 1943, is a nationwide non-profit trade association that represents all segments of the technology industry and is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs.  For more information, please visit http://www.aeanet.org.

This page was last updated on 04/27/05.