Colorado’s Tech Industry Totals 157,200 Jobs
Colorado Remains 3rd in Concentration of High-Tech Workers

Broomfield, CO (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.

Colorado's high-tech industry employment edged downward by 900 or about one percent, giving Colorado 157,200 tech industry workers in 2006, the most current state data available. Colorado's tech concentration in the workforce remains in 3rd place for the second consecutive year. Colorado was surpassed by Massachusetts in 2006, where 8.7 percent of workers are in the tech industry compared to 8.3 percent for Colorado.

Despite declines in net high-tech manufacturing jobs in 2006, impressive gains occurred in sectors like computer systems design and related services (+1,100 jobs) and engineering services (+1,500 jobs).

Venture capital investments in Colorado totaled $564 million in 2007, down 15 percent from $661 million in 2006, ranking the state 11th nationwide by this metric.

“Colorado’s tech industry remains critical to our state’s economy,” said Matthew Kazmierczak, Vice President of Research and Industry Analysis, AeA. “But the truth is we have slipped a bit. Until 2005, we ranked first in the nation in high-tech workers as a proportion of the overall private sector workforce. But we have fallen behind Virginia and Massachusetts. It should be a top priority to maintain this high concentration because Colorado's tech industry pays its workers extremely well – on average $86,500 or 98 percent more than the state’s average private sector worker. State and local leaders need to heighten their focus on math and science in our school curricula to ensure our university students have the background they need to go into engineering and science.” 

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 Colorado?

• 157,200 high-tech workers in 2006 (14th ranked cyberstate)
   

• 900 jobs lost between 2005 and 2006
   

• High-tech firms employed 83 of every 1,000 private sector workers in 2006, ranked 3rd nationwide
   

• High-tech workers earned an average wage of $86,500 (5th ranked), or 98 percent more than Colorado's average private sector wage
   

• A high-tech payroll of $13.6 billion in 2006, ranked 11th nationwide
   

• 11,600 high-tech establishments in 2006, ranked 10th nationwide
   

• Venture capital investments of $564 million in 2007, down 15 percent from $661 million in 2006, ranked 11th nationwide
   

• R&D expenditures of $5.5 billion in 2004, ranked 17th nationwide

Colorado’s National Industry Sector Rankings:

• 5th in software publishers employment with 12,700 jobs
   

• 7th in computer and peripheral equipment manufacturing employment with 7,200 jobs
   

• 8th in engineering services employment with 30,100 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.   

This page was last updated on 03/28/08.  
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