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Minnesota Ranks 1st in Electromedical Equipment Manufacturing
Stephanie Craig, Director of Communications
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Josh James, Vice President, Research and Industry Analysis
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Washington, DC (October 5, 2011) – TechAmerica Foundation today released its 14th annual Cyberstates report detailing national and state trends in high-tech employment, wages, and other key economic factors. Cyberstates 2011: The Definitive State-by-State Analysis of the U.S. High-Tech Industry covers all 50 states, the District of Columbia, and Puerto Rico.
Minnesota’s high-tech industry lost 2,900 net jobs in 2010. Minnesota remained the 17th largest cyberstate, employing 120,800 tech workers with a total payroll of $9.6 billion in 2008.
These jobs are well compensated at an average wage of $79,200 – 74 percent more than the state’s average private sector wage. Tech industry job losses in Minnesota were led by the computer and peripheral equipment manufacturing sector (-1,100jobs) and electronics components manufacturing sector (-800 jobs).
“The tech industry is vital to Minnesota’s economy, led by electromedical equipment manufacturing,” said Margaret Anderson Kelliher, president & CEO of the Minnesota High Tech Association. “It is a tough job market and these numbers are part of a larger trend across the country. Minnesota will recover with policies that encourage education in science and technology and economic development tools such as the data center sales tax exemption recently approved by the state legislature.”
Nationally, the U.S. high-tech industry did lose115,800 jobs in 2010, but still boasts 5.75 million workers. Showing an improving trend, this two percent decline was less than half of the 249,500 jobs lost in 2009 following several years of sustained growth. Software services added jobs in 2010 – 22,800, a gain of one percent.
TechAmerica Foundation also today released a midyear jobs report for 2011 based on a different monthly data set from the U.S. Bureau of Labor Statistics. This report shows that between January and June 2011, the tech industry added a net 115,000 jobs, a two percent gain, not adjusted for seasonality. During this time period, job growth occurred in all four technology industry sectors, with the fastest growth in engineering and tech services. A 12 month review of June 2010 in comparison with June 2011 also shows growth in three of the four tech industry sectors, with job losses occurring in communication services.
Cyberstates 2011 may be purchased for $150. The 2011 midyear report may be freely downloaded. Both reports can be accessed at: www.techamericafoundation.org/cyberstates.
What Does High Tech Mean for Minnesota?
- 120,800 high-tech workers in 2010 (17th ranked cyberstate)
- 2,900 jobs lost between 2009 and 2010
- High-tech firms employed 55 of every 1,000 private sector workers in 2010, ranked 15th nationwide
- High-tech workers earned an average wage of $79,200 (20th ranked), or 74 percent more than Minnesota’s average private sector wage
- A high-tech payroll of $9.6 billion in 2010, ranked 17th nationwide
- 7,900 high-tech establishments in 2010, ranked 17th nationwide
Minnesota’s National Industry Sector Rankings:
- 2nd in electromedical equipment manufacturing employment with 13,400 jobs
- 6th in computer and peripheral equipment manufacturing employment with 9,600 jobs
- 8th in electronic components manufacturing employment with 6,900 jobs
Source: Cyberstates 2011
Data are for 2010 unless otherwise noted.
Published by TechAmerica Foundation
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About TechAmerica Foundation
TechAmerica Foundation educates industry executives, policy makers and opinion leaders on the promise of technological innovation to advance prosperity, security and the general welfare. Launched in 1981, the Foundation is a 501c(3) non-profit, non-partisan affiliate of TechAmerica, which is the leading voice and resource for the U.S. technology industry. The Foundation disseminates award-winning industry, policy and market research covering topics such as U.S. competitiveness in a global economy, innovation in government, and other areas of national interest. It also organizes conferences and seminars to explore pertinent issues with government and industry representatives and to share the Foundation’s findings.
This entry was posted on Tuesday, October 4th, 2011 by Jason Langsner.