Michigan’s High-Tech Industry Totals 183,200 Jobs
Michigan's Venture Capital Investments Jump by 61 Percent in 2004

Oakbrook Terrace, IL, April 26, 2005 – High-tech industry employment in Michigan totaled 183,200 in 2003, the most recent available state data.  While Michigan's tech industry was hit hard by the technology downturn, losing some 6,700 jobs in 2003, the tech industry job loss is slowing, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

"Michigan saw some of the highest increases in venture capital investment spending nationwide,” said David Morgan, Chief Financial Officer, TechTeam Global, Inc.  "Venture capital investment increased by 61 percent or $56 million in 2004.  This foreshadows a turnaround in the tech industry in Michigan.  In fact, the tech industry is still of great importance to Michigan.  Michigan ranked 10^th by tech employment and its tech workers earned an annual average salary that is 73 percent more than the state's average private sector worker."

By sector, Michigan ranked 2^nd by employment in R&D and testing labs with 46,200 workers, and 5^th by engineering services with 41,400 jobs.

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 Michigan 

·      183,200 high-tech workers (10^th ranked cyberstate)

·      6,700 jobs lost between 2002 and 2003

·      High-tech firms employed 50 of every 1,000 private sector workers in 2003, ranked 22^nd nationwide

·      High-tech workers earned an average wage of $68,100 (13^th ranked), or 73% more than Michigan's average private sector wage

·      A high-tech payroll of $12.5 billion in 2003, ranked 11^th nationwide

·      9,700 high-tech establishments in 2003, ranked 13^th nationwide

·      High-tech exports totaled $1.9 billion in 2004, ranked 24^th nationwide

·      High-tech exports represented 5% of Michigan's exports

·      Venture capital investments of $148 million in 2004, ranked 19^th nationwide

·      Venture capital investments increased by $56 million in 2004, ranked 8^th nationwide

·      R&D expenditures of $15.1 billion in 2002, ranked 2^nd nationwide

Michigan’s National Industry Segment Rankings:

·      2^nd in R&D and testing labs employment with 46,200 jobs

·      5^th in engineering services employment with 41,400 jobs

·      11^th in computer systems design and related services employment with 39,900 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.