North Carolina's Tech Industry Totals 134,600 Jobs
Venture Capital Investments in North Carolina Jumped by 60 Percent in 2005

Alpharetta, GA (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.

North Carolina's high-tech industry lost 1,400 net jobs, for a total of 134,600 in 2004, the most current state data available.  Similar to trends throughout the country, the sector hardest hit was telecommunications services, which lost 1,800 jobs between 2003 and 2004.  Fortunately, the research and development and testing labs sector, which drives innovation, added 2,800 jobs in 2004.

The report found that North Carolina’s tech industry exported $3.6 billion in high-tech goods to countries around the world in 2005, a 10 percent increase over 2004.  This total ranked them 12^th in high-tech exports and accounted for 19 percent of overall exports from North Carolina.

"Tech industry job losses in North Carolina slowed dramatically in 2004,” said Mike Levin, Executive Director, AeA Southeast Council.  "And we are seeing positive indicators for the future.  In 2005, tech exports increased by 10 percent, and venture capital investments soared by 60 percent in the Tar Heel State.  We believe this will lead to growth in the high paying jobs that will drive the state’s economy in the future.  Tech companies are already attracted to North Carolina because of our well-educated workforce.  We need to make sure that future workers have the background in math and science needed in a 21st century economy."

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 North Carolina?

• 134,600 high-tech workers (16^th ranked cyberstate)
   

• 1,400 jobs lost between 2003 and 2004
   

• High-tech firms employed 43 of every 1,000 private sector workers in 2004, ranked 27^th nationwide
   

• High-tech workers earned an average wage of $67,900 (18^th ranked), or 96 percent more than North Carolina's average private sector wage
   

• A high-tech payroll of $9.1 billion in 2004, ranked 15^th nationwide
   

• 8,000 high-tech establishments in 2004, ranked 15^th nationwide
   

• High-tech exports totaled $3.6 billion in 2005, ranked 12^th nationwide
   

• High-tech exports represented 19 percent of North Carolina’s exports
   

• Venture capital investments of $508 million in 2005, up 60 percent from $317 million in 2004
   

• R&D expenditures of $6.3 billion in 2003, ranked 14^th nationwide

North Carolina’s National Industry Sector Rankings:

• 6^th in computer and peripheral equipment manufacturing employment with 12,500 jobs
   

• 7^th in communication equipment manufacturing employment with 6,500 jobs
   

• 9^th in electronic components manufacturing employment with 7,700 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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