Puerto Rico’s Tech Industry Totals 32,700 Jobs
Puerto Rico Is the 4th Largest Cyberstate by Electromedical Equipment Manufacturing

Orlando, FL (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.

Puerto Rico remained the 37th largest cyberstate employing 32,700 with a total payroll of $1.1 billion. Puerto Rico's high-tech industry experienced a net loss of 400 jobs – about one percent – in 2005, the most recent year state data are available.

At the sector level, Puerto Rico experienced some volatility in its high-tech manufacturing base. On the positive side, measuring and control instruments manufacturing added 1,100 net jobs. But on the downside, electronic components manufacturing lost 1,900 net jobs. Electromedical equipment manufacturing, a sector in which Puerto Rico ranks 4th nationwide by employment, added 400 net jobs in 2005.

“Puerto Rico’s tech industry received some good news and bad news in terms of the most recent tech employment numbers,” said Maryann Fiala, Executive Director of AeA’s Florida Council which includes Puerto Rico. “Puerto Ricans should be encouraged by job growth in two of its key manufacturing sectors as well as modest growth across several services sectors. Companies continue to find the Commonwealth an attractive location for high-tech manufacturing and services because of competitive wages and strong ties to the Latin American market.”

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 Puerto Rico?

• 32,700 high-tech workers (37th ranked cyberstate)
   

• 400 jobs lost between 2004 and 2005
   

• High-tech firms employed 44 of every 1,000 private sector workers in 2005, ranked 26th nationwide
   

• High-tech workers earned an average wage of $33,800 (52nd ranked), or 57 percent more than Puerto Rico's average private sector wage
   

• A high-tech payroll of $1.1 billion in 2005, ranked 42nd nationwide
   

• 1,200 high-tech establishments in 2005, ranked 46th nationwide
   

• Venture capital investments of $14.3 million in 2006, up 741 percent from $1.7 million in 2005

Puerto Rico’s National Industry Sector Rankings:

• 4th in electromedical equipment manufacturing employment with 5,000 jobs
   

• 28th in measuring and control instruments manufacturing employment with 2,100 jobs
   

• 29th in telecommunications services employment with 11,400 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 www.aeanet.org. 

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