Puerto Rico Adds Nearly 600 High-Tech Jobs
Puerto Rico Is One of Only Four Cyberstates To See High-Tech Employment Rise in 2003

Orlando, FL, April 26, 2005 – Puerto Rico's high-tech industry added nearly 600 jobs in 2003, from a total of 30,600 in 2002 to 31,200 in 2003, the most recent available state data.  This is particularly significant because Puerto Rico is one of only four cyberstates to see increased high-tech employment in 2003, according to Cyberstates 2005:  A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA.

Despite its relatively small population compared to many other cyberstates, Puerto Rico ranked 4^th nationwide in electromedical equipment manufacturing employment in 2003 with 4,400 jobs.

"Puerto Rico increasingly is seen as an attractive location for high-tech companies, offering skilled workers at attractive wages," said Maryann Fiala, Executive Director, AeA Florida Council.  "Puerto Rico grew while much of the rest of the country experienced a net loss in high-tech employment."

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 Puerto Rico?

·      31,200 high-tech workers (37^th ranked cyberstate)

·      600 jobs gained between 2002 and 2003 (1^st ranked)

·      High-tech firms employed 43 of every 1,000 private sector workers in 2003, ranked 28^th nationwide

·      High-tech workers earned an average wage of $33,600 (52^nd ranked), or 66% more than Puerto Rico's average private sector wage

·      A high-tech payroll of $1.0 billion in 2003, ranked 42^nd nationwide

·      1,100 high-tech establishments in 2003, ranked 47^th nationwide

·      High-tech exports totaled $2.4 billion in 2004, ranked 20^th nationwide

·      High-tech exports represented 18% of Puerto Rico’s exports

·      Venture capital investments of $1.5 million in 2004, ranked 48^th nationwide

Puerto Rico’s National Industry Segment Rankings:

·      4^th in electromedical equipment manufacturing employment with 4,400 jobs

·      20^th in electronic components manufacturing employment with 3,600 jobs

·      22^nd in communications equipment manufacturing employment with 1,800 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.