Minnesota's Tech Industry Employment Is Up
Minnesota is the 7^th Largest Tech Exporter in the Nation and Largest in the Entire Midwest

Minneapolis, MN (April 19, 2006) – AeA, the nation’s largest trade association representing all segments of the high-tech industry, and the Minnesota High Tech Association today released the 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.

Minnesota's high-tech industry added a net 400 jobs, for a total of 125,200 in 2004, the most current state data available.  Growth has been strong in many of Minnesota's key industry sectors.  Electromedical equipment manufacturing sector, the second largest in the nation, picked up 600 jobs in 2004.  The computer systems design sector added 900 jobs.  These gains offset a decline in telecommunications services jobs. 

"The tech industry remains a strong peg in Minnesota's economy,” said Kate Rubin, President, MHTA.  "Workers in the state’s tech industry earned an average wage of 67,300 or 66 percent more than the average private sector wage.  Likewise, international trade has been an engine of growth for our tech industry.  Minnesota’s tech exports grew by nearly $1 billion in 2005, the second largest increase in the country.  The state exported $6.1 billion in tech products, the 7th largest tech exporter in the nation and the largest in the entire Midwest.  Tech and trade means high salaries and good jobs."

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 Minnesota?

• 125,200 high-tech workers (17^th ranked Cyberstate)
   

• 400 jobs gained between 2003 and 2004
   

• High-tech firms employed 56 of every 1,000 private sector workers in 2004, ranked 15^th nationwide
   

• High-tech workers earned an average wage of $67,300 (19^th ranked), or 66 percent more than Minnesota's average private sector wage
   

• A high-tech payroll of $8.4 billion in 2004, ranked 17^th nationwide
   

• 6,800 high-tech establishments in 2004, ranked 16^th nationwid
   

• High-tech exports totaled $6.1 billion in 2005, ranked 7^th nationwide
   

• High-tech exports represented 42 percent of Minnesota’s exports
   

• Venture capital investments of $233 million in 2005, down 34 percent
   

• R&D expenditures of $5.8 billion in 2003, ranked 15^th nationwide

Minnesota’s National Industry Sector Rankings:

• 2^nd in electromedical equipment manufacturing employment with 11,500 jobs
   

• 5^th in computer and peripheral equipment manufacturing employment with 14,900 jobs
   

• 15^th in computer systems design and related services employment with 24,000 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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