New Jersey Tech Industry Employment Totals 202,600
High-Tech Exports from New Jersey Increase by 14 Percent in 2004

Clark, NJ, April 26, 2005 – New Jersey's high-tech industry employment fell by 14,600 from 217,200 in 2002 to 202,600 in 2003, the most recent available state data.  While New Jersey was hit hard by the technology downturn, high-tech job losses slowed in 2003 compared to 2002, 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 at the sector level, New Jersey ranked 3^rd nationwide by defense electronics employment with 9,100 jobs, and 6^th in computer systems design and related services employment with 50,100 jobs.

"The good news is that job loss has slowed considerably since the bursting of the tech bubble in 2000,” said Thomas G. Werthan, Chief Financial Officer, EMCORE Corporation and Chairperson for the Executive Committee of the New Jersey-Pennsylvania Council of AeA.  "And despite the employment losses, high-tech exports in New Jersey grew by 14 percent in 2004."

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 New Jersey?

·      202,600 high-tech workers (9^th ranked cyberstate)

·      14,600 jobs lost between 2002 and 2003

·      High-tech firms employed 62 of every 1,000 private sector workers in 2003, ranked 12^th nationwide

·      High-tech workers earned an average wage of $78,500 (4^th ranked), or 71% more than New Jersey's average private sector wage

·      A high-tech payroll of $15.9 billion in 2003, ranked 6^th nationwide

·      14,600 high-tech establishments in 2003, ranked 6^th nationwide

·      High-tech exports totaled $3.5 billion in 2004, ranked 11^th nationwide

·      High-tech exports represented 18% of New Jersey’s exports

·      Venture capital investments of $720 million in 2004, down 20% from $897 million in 2003

·      R&D expenditures of $13 billion in 2002, ranked 6^th nationwide

New Jersey’s National Industry Segment Rankings:

·      3^rd in defense electronics manufacturing employment with 9,100 jobs

·      6^th in computer systems design and related services employment with 50,100 jobs

·      6^th in R&D and testing labs employment with 33,000 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 04/26/05.