Missouri's High-Tech Industry Totals 86,500 Jobs
Venture Capital Investments and Tech Exports Are Up in Missouri

Oakbrook Terrace, IL (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.

Missouri's high-tech industry fell by a net 600 jobs, for a tech industry total of 86,500 in 2004, the most current state data available.  Like most states, Missouri was hurt by the sharp decline in telecommunications services employment.  This sector was a major contributor to Missouri's decline in tech employment, losing 1,300 jobs for the year.  However, not all industries declined; computer systems design added 2,000 jobs in 2004.

The report also showed strong growth in Missouri's venture capital industry and in technology exports.  Venture capital investments nearly quadrupled from $31 million in 2004 to $118 million in 2005.  Tech exports increased by $34 million for a total of $702 million in 2005.

"The recent surge in venture capital investments and the growth in high-tech exports is a strong sign that things are going well for technology companies in Missouri,” said Ed Longanecker, Executive Director, AeA Midwest Council.  "This growth is important as Missouri shakes off the last bits of the economic downturn.  To be prepared for a 21^st century economy, we need to make sure that our workforce has the skills and education it needs.  And we need to embrace free trade which supports high paying jobs for Missourians."

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.

This 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 Missouri?

• 86,500 high-tech workers (19^th ranked cyberstate)
   

• 600 jobs lost between 2003 and 2004
   

• High-tech firms employed 39 of every 1,000 private sector workers in 2004, ranked 33^rd nationwide
   

• High-tech workers earned an average wage of $62,400 (25th ranked), or 78 percent more than Missouri's average private sector wage
   

• A high-tech payroll of $5.4 billion in 2004, ranked 20^th nationwide
   

• 5,400 high-tech establishments in 2004, ranked 19^th nationwide
   

• High-tech exports totaled $702 million in 2005, ranked 34^th nationwide
   

• High-tech exports represented 7 percent of Missouri’s exports
   

• Venture capital investments of $118 million in 2005, up 281 percent from $31 million in 2004
   

• R&D expenditures of $2.7 billion in 2003, ranked 25^th nationwide

Missouri’s National Industry Sector Rankings:

• 10^th in Internet services employment with 12,100 jobs
   

• 14^th in telecommunications services employment with 24,400 jobs
   

• 18^th in computer systems design and related services employment with 19,100 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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