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Monday, April 24, 2006

Michigan's Technology Workforce Ranks 10th Largest In Nation

OAKBROOK TERRACE, Il. – Michigan's technology employment ranked as the 10th largest in the United States in 2004, adding some $13 billion in payroll to the state's economy, according to a report just released by Cyberstate.

The majority of those tech jobs fell into two sectors: research and development and testing labs; and engineering services. Net tech jobs in the state totaled 178,000 in 2004, the most recent data available, a decline of 5,200 jobs from 2003.

Nationally, Cyberstates 2006 shows that the high-tech industry is edging forward. Technology employment added 61,100 net jobs in the United States for a total of 5.6 million workers in 2005, the first increase in four years. U.S. high-tech exports were also up by four percent for a total of $199 billion in 2005.

The best news in the Cyberstate report for Michigan is:

2nd in R&D and testing labs employment with 45,200 jobs

5th in engineering services employment with 40,400 jobs

8th in software publishers employment with 7,300 jobs

"Michigan has thousands of highly skilled and talented individuals in the tech industry, helping to keep the Great Lakes State an attractive location for the business of technology,” said Ed Longanecker, Executive Director, AeA Midwest Council. "Employees in the tech industry earn on average $70,800 per year, which is 75 percent more than that of the average statewide private sector worker. This adds nearly $13 billion to our state economy in terms of payroll, making tech a vital pillar of our state economy."

The rest of Michigan's high-tech report card shows :

High-tech firms employed 49 of every 1,000 private sector workers in 2004, ranked 21st nationwide

High-tech workers earned an average wage of $70,800 (15th ranked), or 75 percent more than Michigan's average private sector wage

A high-tech payroll of $12.6 billion in 2004, ranked 10th nationwide

9,300 high-tech businesses in 2004, ranked 14th nationwide

High-tech exports totaled $1.8 billion in 2005, ranked 26th nationwide

High-tech exports represented 5 percent of Michigan’s exports

Venture capital investments of $85 million in 2005, down 35 percent

R&D expenditures of $16.9 billion in 2003, ranked 2nd nationwide

Author: Staff Writer
Source: MItechnews.Com

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