New Mexico's Tech Industry Totals 42,500 Jobs
High-Tech Exports and Venture Capital Investments Are Up in New Mexico in 2005

Scottsdale, AZ (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.

New Mexico's high-tech industry employment fell by a net 1,300 jobs, for an industry total of 42,500 in 2004, the most recent year state data are available.  These losses were concentrated primarily in the telecommunications services sector, which lost over 1,200 jobs in 2004. This follows a nationwide trend, not a specific problem for New Mexico.

The report shows that New Mexico's economy is highly concentrated in the technology industry. High-tech exports accounted for 77 percent of all exports in the state and are essential to its economy.  Likewise, over seven percent of New Mexico's workforce is employed by the tech industry, the sixth highest concentration of tech workers in the nation.

"Things are on the rise for New Mexico's tech industry,” said Keith Prettyjohns, CEO of Innovasic Semiconductor.  "Not only does the tech industry employ tens of thousands of workers, but it also pays these workers nearly double the average statewide private sector wage.  And, the recent surge in venture capital invested within the state is a strong sign that things are looking up for New Mexico."

Venture capital jumped in New Mexico by 272 percent for a total of $89 million in 2005.  Likewise, New Mexico's technology exports to the world increased by $606 million in 2005, totaling $2 billion in 2005.

Nationally, Cyberstates 2006 shows that the high-tech industry is edging forward.  High-tech employment was up by 61,100 out 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.  Visit www.aeanet.org/cyberstates to download the report, or call 408.987.4200.

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What Does High Tech Mean for New Mexico?

• 42,500 high-tech workers (28^th ranked cyberstate)
   

• 1,300 jobs lost between 2003 and 2004
   

• High-tech firms employed 73 of every 1,000 private sector workers in 2004, ranked 6^th nationwide
   

• High-tech workers earned an average wage of $59,200 (29^th ranked), or 97 percent more than New Mexico's average private sector wage
   

• A high-tech payroll of $2.5 billion in 2004, ranked 30^th nationwide
   

• 2,100 high-tech establishments in 2004, ranked 35^th nationwide
   

• High-tech exports totaled $2 billion in 2005, ranked 23^rd nationwide
   

• High-tech exports represented 77 percent of New Mexico’s exports
   

• Venture capital investments of $89 million in 2005, up 272 percent from $24 million in 2004
   

• R&D expenditures of $5 billion in 2003, ranked 18^th nationwide

New Mexico’s National Industry Sector Rankings:

• 9^th in semiconductor manufacturing employment with 6,000 jobs
   

• 30^th in engineering services employment with 7,000 jobs
   

• 35^th in telecommunications services employment with 6,500 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 sector 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 04/24/06.     
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