Missouri’s Tech Industry Adds 2,900 Jobs
Venture Capital Investments in Missouri More Than Double in 2007

Oakbrook Terrace, IL (April 2, 2008) – AeA, the nation’s largest technology trade association representing all segments of the high-tech industry, today released its 11th annual Cyberstates report detailing national and state trends in high-tech employment, wages, and other key economic factors. The report, Cyberstates 2008: 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 added 2,900 net jobs – a three percent increase – for a total of 91,200 workers in 2006, the most recent state data available. Missouri’s high-tech payroll for 2006 totaled $6.2 billion. Tech industry workers in Missouri were well compensated, earning an average wage of $68,200 – 83 percent higher than the state’s average private sector wage.

Missouri saw its largest job growth in 2006 in engineering services (+1,600 jobs), followed by computer systems design and related services (+600 jobs), and R&D and testing labs (+600 jobs). The state’s largest job losses came in telecommunications services (-300 jobs) in 2006.

Venture capital investments in Missouri rose 108 percent for a total of $91.1 million in 2007, up from $43.7 million in 2006. Missouri ranks 27th nationwide by this metric.

"Missouri’s high-tech industry added jobs for the second straight year,” said Ed Longanecker, Executive Director, AeA’s Midwest Council. "The importance of these jobs to the economy needs to be better understood by officials in Jefferson City and Missourians across the state. Tech industry jobs pay wages that are 83 percent higher than the average private sector wage in Missouri. If we expect this momentum to continue we must significantly improve the math and science curricula in our schools so that our kids are prepared to fill these high paying jobs in the future,” added Longanecker. 

Nationally, Cyberstates 2008 shows that the high-tech industry added jobs for the third consecutive year. Tech industry employment totaled 5.9 million, after adding 91,400 jobs in
2007. This is on top of job gains of 139,000 in 2006 and 87,400 in 2005.

This 11th 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.

Two other major AeA cyber reports are forthcoming that analyze the U.S. high-tech industry: Cybercities 2008: An Overview of the High-Technology Industry in the Nation’s Top 60 Cities, and Trade in the Cyberstates 2008: A State-by-State Overview of High-Tech International Trade.

AeA members can purchase Cyberstates 2008 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 Missouri?

• 91,200 high-tech workers in 2006 (19th ranked cyberstate)
   

• 2,900 jobs added between 2005 and 2006
   

• High-tech firms employed 40 of every 1,000 private sector workers in 2006, ranked 33rd nationwide
   

• High-tech workers earned an average wage of $68,200 (27th ranked), or 83 percent more than Missouri's average private sector wage
   

• A high-tech payroll of $6.2 billion in 2006, ranked 20th nationwide
   

• 5,700 high-tech establishments in 2006, ranked 19th nationwide
   

• Venture capital investments of $91.1 million in 2007, up 108 percent from $43.7 million in 2006, ranked 27th nationwide
   

• R&D expenditures of $3 billion in 2004, ranked 25th nationwide

Missouri's National Industry Sector Rankings:

• 8th in Internet services employment with 13,300 jobs
   

• 15th in telecommunications services employment with 22,100 jobs
   

• 18th in R&D and testing labs employment with 10,600 jobs

Source: Cyberstates 2008

Data are for 2006 unless otherwise noted.

2006 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, 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.   

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