We’re Number 3! We’re Number 3!

4 May 2007 at 6:56PM Leave a comment

This is Not Good, of course, but it has already happened. High-tech employment in the Centennial State is slipping. According to an article by Deborah Perelman of eWEEK, here’s the evidence:

Colorado, once considered among the most promising hubs for technology companies, took a big employment and market share hit in recent years, finds the Cyberstates 2007 report, released on April 24.

After holding first place in tech concentration for nine years, Colorado fell to third place, according to the report by AeA, a high-tech industry trade association. Colorado was surpassed by Virginia, where 8.9 percent of the work force is in the tech industry compared to 8.6 percent in Colorado.

Though third place out of 52 (the report included the District of Columbia and Puerto Rico along with the 50 states) is not too shabby, Colorado’s loss of 1,700 tech jobs in 2005 — the most recent year for which data was available — was the second most of any state, surpassed by only Kansas, which lost 2,000.

At least we’re ahead of Kansas!

See the whole Perelman article for details.

A few highlights from Cyberstates 2007 (data from 2005):

What Does High Tech Mean for Colorado?
* 158,100 high-tech workers (13th ranked cyberstate)
* 1,700 jobs lost between 2004 and 2005
* High-tech firms employed 86 of every 1,000 private sector workers in 2005, ranked 3rd nationwide
* High-tech workers earned an average wage of $80,200 (7th ranked), or 93 percent more than Colorado’s average private sector wage
* A high-tech payroll of $12.7 billion in 2005, ranked 12th nationwide
* 10,900 high-tech establishments in 2005, ranked 11th nationwide
* Venture capital investments of $622 million in 2006, down 5 percent from $654 million in 2005
* R&D expenditures of $5.5 billion in 2004, ranked 17th nationwide

Colorado’s National Industry Sector Rankings:
* 5th in software publishers employment with 12,800 jobs
* 7th in computer and peripheral equipment manufacturing employment with 8,400 jobs
* 9th in engineering services employment with 28,600 jobs


Entry filed under: Colorado, Corporate.

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Troy Bettinger, SPHR is a Denver Recruiter, Public Speaker, HR Metrics Analyst and Human Resources Leader who has been recruiting in corporate and municipal environments since 1991.

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