Puerto Rico’s Tech Industry Totals 31,500 Jobs
Puerto Rico Is the 5th Largest Cyberstate by Electromedical Equipment Manufacturing

Orlando, FL (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.

Puerto Rico remained the 37th largest cyberstate employing 31,500 high-tech industry workers with a total payroll of $1.1 billion in 2006, the most recent year state data are available. These workers are well paid for their high skills, earning 62 percent more than the average private sector worker.

Venture capital investments in Puerto Rico totaled $15.2 million in 2007, up six percent from $14.3 million in 2006. This ranks the commonwealth 36th nationwide by this metric.

“There are some ups and downs in the latest data about Puerto Rico’s tech industry,” said Maryann Fiala, Executive Director, AeA Florida Council, representing Puerto Rico companies. “Most Puerto Ricans probably don't know that we are the fifth largest location for electromedical equipment manufacturing destination with 4,600 workers in this field. Our thriving tech industry is attracted to Puerto Rico because of competitive wages and strong ties to Latin America. However, we have recently had a slowdown in technology employment, losing some 1,100 jobs. We need to turn this around by focusing on those factors that keep us attractive. We need to invest in our workforce, so that they have the skills in math, science, engineering, and technology to attract and retain high-tech companies.”

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 Puerto Rico?

• 31,500 high-tech workers in 2006 (37th ranked cyberstate)
   

• 1,100 jobs lost between 2005 and 2006
   

• High-tech firms employed 42 of every 1,000 private sector workers in 2005, ranked 28th nationwide
   

• High-tech workers earned an average wage of $36,000 (52nd ranked), or 62 percent more than Puerto Rico's average private sector wage
   

• A high-tech payroll of $1.1 billion in 2006, ranked 42nd nationwide
   

• 1,300 high-tech establishments in 2006, ranked 46th nationwide
   

• Venture capital investments of $15.2 million in 2007, up six percent from $14.3 million in 2006, ranked 36th nationwide

Puerto Rico’s National Industry Sector Rankings:

• 5th in electromedical equipment manufacturing employment with 4,600 jobs
   

• 26th in measuring and control instruments manufacturing employment with 2,400 jobs
   

• 29th in telecommunications services employment with 10,800 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 03/27/08.   
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