Connecticut's Tech Industry Jobs Total 66,900
Venture Capital Investments in Connecticut Are Up in 2005

Woburn, MA (April 19, 2006) – AeA, the nation’s largest trade association representing all segments of the high-tech industry, today released its ninth annual Cyberstates report detailing national and state trends in high-tech employment, wages, exports, and other key economic factors.  The report, Cyberstates 2006: A Complete State-by-State Overview of the High-Technology Industry, covers all 50 states, the District of Columbia, and Puerto Rico.

Connecticut's high-tech industry employment fell by 2,300 to 66,900 in 2004, the most current state data available.  While tech employment dropped, tech wage increased by $1,400, for an average wage of $74,000 in 2004.

"The recent rise in venture capital investments in Connecticut is a strong leading indicator that things are turning around,” said Anne Doherty Johnson, Executive Director, AeA New England Council.  "VC rose by $17 million in 2005 to $209 million.  This shows that Connecticut remains an attractive location for technology companies to innovate."

Nationally, Cyberstates 2006 shows that the high-tech industry is edging forward.  High-tech employment added 61,100 net jobs for a total of 5.6 million workers in 2005, the first increase in tech jobs in four years.  U.S. high-tech exports were also up by four percent for a total of $199 billion in 2005.

The ninth 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.  Please visit www.aeanet.org/cyberstates to download the report, or call 408.987.4200. 

What Does High Tech Mean for Connecticut?

• 66,900 high-tech workers (24^th ranked Cyberstate)
   

• 2,300 jobs lost between 2003 and 2004
   

• High-tech firms employed 48 of every 1,000 private sector workers in 2004, ranked 22^nd nationwide
   

• High-tech workers earned an average wage of $74,000 (10^th ranked), or 43 percent more than Connecticut's average private sector wage
   

• A high-tech payroll of $5 billion in 2004, ranked 21^st nationwide
   

• 4,800 high-tech establishments in 2004, ranked 21^st nationwide
   

• High-tech exports totaled $1.8 billion in 2004, ranked 25^th nationwide
   

• High-tech exports represented 19 percent of Connecticut’s exports
   

• Venture capital investments of $209 million in 2005, up 9 percent from $192 million in 2004
   

• R&D expenditures of $6.5 billion in 2003, ranked 13^th nationwide

Connecticut’s National Industry Sector Rankings:

• 15^th in communications equipment manufacturing employment with 2,800 jobs
   

• 15^th in measuring and control instruments manufacturing employment with 5,500 jobs
   

• 19^th in computer systems design and related services employment with 18,400 jobs

Source: Cyberstates 2006

Data are for 2004 unless otherwise noted.

2004 data are the most current for state employment, wages, payroll, establishments, and industry segment jobs.

Published by AeA, Advancing the Business of Technology (www.aeanet.org)

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About AeA

AeA, founded in 1943, is a nationwide 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 www.aeanet.org.          

This page was last updated on 04/18/06.            
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