Connecticut's Tech Industry Totals 69,200 Jobs
Connecticut's High-Tech Exports Leap by $544 million in 2004

Woburn, MA, April 26, 2005 – High-tech industry employment in Connecticut totaled 69,200 in 2003, the most recent year state data are available.  While Connecticut's tech industry was hit hard by the technology slowdown, losing some 5,600 jobs in 2003, there was growth in both venture capital investments and high-tech exports, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

"Connecticut's tech industry is slowly improving,” said Anne Doherty Johnson, AeA New England Council executive director.  "Venture capital investments rose for the second year in a row and high-tech exports increased by $544 million in 2004.  Connecticut is poised to grow as the tech industry regains its balance."

The report found that high-tech workers in Connecticut were well paid.  The average high-tech wage in the state was $70,700 in 2003, or 45 percent higher than the state’s average private sector wage.

Nationally, Cyberstates 2005 shows that the high-tech industry is slowly turning the corner.  High-tech employment was down by only 25,000 jobs out of 5.6 million workers in 2004.  U.S. high-tech exports were up by 12 percent for a total of $191 billion in 2004.  And, technology related venture capital investments were up for the first time in four years.

This eighth 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 to download the report, or call 800.284.4232 or 408.987.4200.

What Does High Tech Mean for Connecticut?

·      69,200 high-tech workers (23^rd ranked cyberstate)

·      5,600 jobs lost between 2002 and 2003

·      High-tech firms employed 50 of every 1,000 private sector workers in 2003, ranked 21^st nationwide

·      High-tech workers earned an average wage of $70,700 (ranked 9^th), or 45% more than Connecticut's average private sector wage

·      A high-tech payroll of $4.9 billion in 2003, ranked 21^st nationwide

·      4,900 high-tech establishments in 2003, ranked 20^th nationwide

·      High-tech exports totaled $1.9 billion in 2004, ranked 23^rd nationwide

·      High-tech exports represented 23% of Connecticut's exports (16^th ranked)

·      High-tech exports in Connecticut grew by $544 million in 2004, ranked 9^th

·      Venture capital investments of $275 million in 2004, ranked 13^th

·      R&D expenditures of $6.8 billion in 2002, ranked 12^th nationwide

Connecticut's National Industry Segment Rankings:

·      6^th in photonics manufacturing employment with 1,000 jobs

·      16^th in measuring and control instruments manufacturing employment with 5,500 jobs

·      18^th in computer systems design and related services with 18,300 jobs

Source:  Cyberstates 2005

Data are for 2003 unless otherwise noted.

2003 data are the most current for state employment, wages, payroll, establishments, and industry segment jobs.

Published by AeA, Advancing the Business of Technology

NOTE TO EDITORS: Press releases focusing on U.S. high-tech trade as well as on specific states are available on AeA’s website.

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About AeA
AeA, founded in 1943, is a nationwide non-profit 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 http://www.aeanet.org.

This page was last updated on 04/26/05.