Ohio’s High-Tech Industry Adds 2,800 Jobs
Venture Capital Investments Triple to $170 million in 2007

Oakbrook Terrace, IL (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.

Ohio's high-tech industry gained a net 2,800 jobs in 2006, the most current state data available, for an industry total of 155,200 jobs. These jobs are well paid. Tech industry workers made $63,500 in 2006 – 67 percent more than the state’s average private sector wage.

Driven by significant gains in high-tech services such as computer systems design and related services (+2,400) and R&D and testing labs (+1,300), Ohio had a second year of technology employment growth. This growth in services was offset by contractions in high-tech manufacturing (-800) and communications services (-700). 

"Ohio's tech industry employment grew for the second year in a row,” said Joseph P. Keithley, Chairman, President, and Chief Executive Officer, Keithley Instruments, Inc. "The future looks bright for Ohio's tech industry. In 2007, venture capital investments more than tripled to $170 million in 2007. These new ventures will create the high paying jobs that Ohio needs.”

Ohio's tech employees earned on average 67 percent more than private sector workers, $63,500 compared to $38,100.

“To continue the long-term growth of technology jobs in Ohio,” continued Mr. Keithley, “our federal, state, and local policymakers need to do more to focus on the math and science education of our children and the skills of our workforce. Additionally, we have thousands of foreign nationals being educated at our colleges and universities. Kicking out these skilled individuals only hurts our tech companies. If individuals are not available with the skills and education needed to fill these high paying jobs, companies will look elsewhere to set up operations."

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 Ohio?

• 155,200 high-tech workers in 2006 (15th ranked cyberstate)
   

• 2,800 jobs added between 2005 and 2006
   

• High-tech firms employed 34 of every 1,000 private sector workers in 2006, ranked 36th nationwide
   

• High-tech workers earned an average wage of $63,500 (31st ranked), or 67 percent more than Ohio's average private sector wage
   

• A high-tech payroll of $9.8 billion in 2006, ranked 16th nationwide
   

• 10,800 high-tech establishments in 2006, ranked 12th nationwide
   

• Venture capital investments of $170 million in 2007, up 243 percent from $50 million in 2006, ranked 20th nationwide
   

• R&D expenditures of $8 billion in 2004, ranked 12th nationwide

Ohio's National Industry Sector Rankings:

• 10th in measuring and control instruments manufacturing employment with 7,700 jobs
   

• 11th in R&D and testing labs employment with 20,800 jobs
   

• 12th in computer systems design and related services employment with 44,200 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 03/31/08.              
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