Idaho’s Venture Capital Investments Soar Tenfold
Idaho Tech Industry Wages Are More Than Double the State’s Average Private Sector Wage

Lynnwood, WA (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.

Idaho's high-tech industry saw a modest net gain of 200 jobs, for an industry total of 36,400 tech workers in 2006, the most current state data available. Idaho’s largest and fastest growing sector is semiconductor manufacturing, which employed 12,100 workers and added 900 jobs in 2006, offsetting losses in several other sectors.

Idaho also has the 10th highest tech concentration nationwide with 68 of every 1,000 private sector workers in high tech. This is particularly significant considering that these high-tech workers’ average wages are 107 percent higher than the average private sector wage.

Venture capital investments in Idaho jumped by 977 percent in 2007 to $16.2 million in 2007, albeit from a small base of $1.5 million in 2006.

“With tech workers being paid more than double the state’s average private sector wage, it’s imperative that the tech industry in Idaho grows,” said Terry Byington, Executive Director, AeA Washington Council, representing Idaho companies. “The good news is that venture capital investments skyrocketed; the bad news is that they had been dreadfully low in 2006. VC investments are a leading indicator of future tech industry growth. Hopefully this means better times are to come for Idaho.” 

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 Idaho?

• 36,400 high-tech workers in 2006 (35th ranked cyberstate)
   

• 200 jobs added between 2005 and 2006
   

• High-tech firms employed 68 of every 1,000 private sector workers in 2006, ranked 10th nationwide
   

• High-tech workers earned an average wage of $67,200 (28th ranked), or 108 percent more than Idaho's average private sector wage
   

• A high-tech payroll of $2.4 billion in 2006, ranked 32nd nationwide
   

• 1,800 high-tech establishments in 2006, ranked 39th nationwide
   

• Venture capital investments of $16.2 million in 2007, up 977 percent from $1.5 million in 2006, ranked 35th nationwide
   

• R&D expenditures of $1 billion in 2004, ranked 35th nationwide

Idaho’s National Industry Sector Rankings:

• 6th in semiconductor manufacturing employment with 12,100 jobs
   

• 9th in computer and peripheral equipment manufacturing employment with 3,700 jobs
   

• 21st in R&D Testing Labs employment with 8,000 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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