Connecticut’s Tech Industry Jobs Total 66,100
Venture Capital Investments in Connecticut Are Up in 2006

Woburn, MA (April 24, 2007) – AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, today released its 10th anniversary Cyberstates report detailing national and state trends in high-tech employment, wages, and other key economic factors. The report, Cyberstates 2007: 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 800 to 66,100 representing a mere one percent decline in 2005, the most current state data available. The average high tech wage remains strong at $76,900, or 43 percent more than Connecticut’s average private sector wage.

“Things are looking up for high tech in Connecticut,” said Anne Doherty Johnson, Executive Director, AeA New England Council. “Not only have job losses slowed considerably, but the level of venture capital investment is truly impressive. Venture capital rose 35 percent in 2006 to $250 million, contributing to the rosy prospects for future industry growth.”

Nationally, Cyberstates 2007 shows that the high-tech industry is picking up. High-tech employment was up by 146,600 out of 5.8 million workers in 2006, the second year in a row that the U.S. tech industry has added jobs.

This 10th edition of Cyberstates provides a comprehensive review of the high-tech industry nationally and state-by-state in terms of high-tech employment, wages, payroll, and establishments. Cyberstates also offers data on venture capital investments and R&D expenditures.

A national and state-by-state analysis of the technology industry and international trade will appear in a forthcoming AeA report entitled Trade in the Cyberstates 2007: A State-by-State Overview of High-Tech International Trade.

AeA members can purchase Cyberstates 2007 for $125; non-members for $250. Visit www.aeanet.org/cyberstates to download the report, or call 408.987.4200.

What Does High Tech Mean for Connecticut?

• 66,100 high-tech workers (24th ranked cyberstate)
   

• 800 jobs lost between 2004 and 2005
   

• High-tech firms employed 47 of every 1,000 private sector workers in 2005, ranked 22nd nationwide
   

• High-tech workers earned an average wage of $76,900 (11th ranked), or 43 percent more than Connecticut's average private sector wage
   

• A high-tech payroll of $5.1 billion in 2005, ranked 21st nationwide
   

• 4,800 high-tech establishments in 2005, ranked 22nd nationwide
   

• Venture capital investments of $250 million in 2006, up 35 percent from $185 million in 2005
   

• R&D expenditures of $8.0 billion in 2004, ranked 11th nationwide

Connecticut’s National Industry Sector Rankings:

• 15th in measuring and control instruments manufacturing employment with 5,600 jobs
   

• 18th in communications equipment manufacturing employment with 2,600 jobs
   

• 19th in computer systems design and related services employment with 18,900 jobs

Source: Cyberstates 2007

Data are for 2005 unless otherwise noted.

2005 state data are the most current available for 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, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, 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 http://www.aeanet.org. 

This page was last updated on 04/23/07.            
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