Virginia Moves Up to 5^th in High-Tech Employment
Virginia’s High-Tech Job Loss Slows Significantly

Washington, DC, April 26, 2005 – Virginia's high-tech industry employment fell by 4,200 from 248,400 in 2002 to 244,200 in 2003, the most recent available state data.  This marked a significant slowdown in job loss and allowed Virginia to become the 5^th ranked cyberstate by high-tech employment, up from 6^th in 2002, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

In fact, the vast majority of job losses occurred in Virginia’s 3^rd most important technology sector, telecommunications services, which lost 4,000 jobs between 2002 and 2003.  Conversely, Virginia’s top two sectors by high-tech employment, computer systems design and related services and engineering services, each saw mild increases in 2003, by 1,000 and 900 jobs, respectively.

"We are very excited to see Virginia move into the top five in high-tech employment,” said Greg Poersch, Executive Director, AeA's Potomac Council.  "While Virginia suffered as a result of the bursting of the high-tech bubble in 2000, the state remains focused on providing highly educated workers who are the lifeblood of the tech industry, and this focus has paid off."

The report also found that tech workers in Virginia were well compensated for their skills, earning on average nearly twice as much as the state's private sector 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 Virginia?

·      244,200 high-tech workers (5^th ranked cyberstate)

·      4,200 jobs lost between 2002 and 2003

·      High-tech firms employed 88 of every 1,000 private sector workers in 2003, ranked 2^nd nationwide

·      High-tech workers earned an average wage of $74,600 (6^th ranked), or 96% more than the average private sector wage

·      A high-tech payroll of $18.2 billion in 2003, ranked 5^th nationwide

·      12,800 high-tech establishments in 2003, ranked 7^th nationwide

·      High-tech exports totaled $1.6 billion in 2004, ranked 25^th nationwide

·      High-tech exports represented 14% of Virginia’s exports

·      Venture capital investments of $272 million in 2004, down 28% from $376 million in 2003

·      R&D expenditures of $5.9 billion in 2002, ranked 13^th nationwide

Virginia’s National Industry Segment Rankings:

·      2^nd in computer systems design and related services employment with 98,300 jobs

·      3^rd in computer training employment with 1,400 jobs

·      4^th in engineering services employment with 43,100 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.