Missouri’s High-Tech Industry Totals 87,100 Jobs
Missouri's Tech Exports Increase by $104 million in 2004

Oakbrook Terrace, IL, April 26, 2005 – High-tech industry employment in Missouri totaled 87,100 in 2003, the most recent available state data.  While Missouri's tech industry was hit by the technology slowdown, it lost only 1,000 jobs in 2003 and saw high-tech exports increase in 2004, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

"Missouri is ready to take advantage of the rebounding of the technology industry,” said Mike Smith, vice president marketing for TALX Corporation (NASDAQ: TALX)—provider of electronic-based outsourced services for payroll & HR.  "We have an attractive location, affordable housing, and well educated workers.  We are encouraged by the recent increases in tech exports, which increased by $104 million to total $669 million in 2004."  TALX services include electronic paystubs, automated employment verification and hiring tax credit management to help companies remove paper and manual methods from common payroll and HR processes.

The report found that high-tech workers in Missouri are also well paid.  The average high-tech wage in the state was $59,000 in 2003, or 74 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 Missouri?

·      87,100 high-tech workers (19^th ranked cyberstate)

·      1,000 jobs lost between 2002 and 2003

·      High-tech firms employed 40 of every 1,000 private sector workers in 2003, ranked 33^rd nationwide

·      High-tech workers earned an average wage of $59,000 (25^th ranked), or 74% more than Missouri's average private sector wage

·      A high-tech payroll of $5.1 billion in 2003, ranked 20^th nationwide

·      5,400 high-tech establishments in 2003, ranked 19^th nationwide

·      High-tech exports totaled $669 million in 2004, ranked 34^th nationwide

·      High-tech exports represented 7% of Missouri's exports

·      Venture capital investments of $62 million in 2004, ranked 28^th nationwide

·      R&D expenditures of $2.5 billion in 2002, ranked 26^th nationwide

Missouri’s National Industry Segment Rankings:

·      11^th in Internet services employment with 12,700 jobs

·      14^th in telecommunications services employment with 25,700 jobs

·      19^th in computer systems design and related services employment with 17,100 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 04/27/05.