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SANTA CLARA - 04/26/05 - California's high-tech industry seems to be rebounding slowly with the state's high-tech exports increasing by $6.7 billion in 2004 to $48.3 billion from $41.5 billion in 2003.

The growth represented a 16% increase for the state compared to a 12% increase for the nation as a whole, according to a new analytical report released today by AeA, the Silicon Valley-headquartered international technology industry group.

This is especially important because 44% of all exports from California were concentrated in the high-tech industry, it said.

According to the new report - Cyberstates 2005: A State-by-State Overview of the High-Technology Industry - venture capital investments in California-based high tech operations were up by over $1 billion in 2004, "a strong sign that things are turning positive for California," a jump from $8.2 billion in 2003 to $9.3 billion in 2004.

High-tech employment fell by 67,800 in 2003, a figure significantly less than the 134,400 jobs lost in 2002, it said.

Although California lost jobs in 2003, the average annual wage for employees in the technology industry increased from $80,800 in 2002 to $84,400 in 2003, adjusted for inflation. "These workers were well compensated for their knowledge and skills, earning twice as much as the average private sector worker in California," the report said.
 
Nationally, the report shows that the high-tech industry is slowly turning the corner.

High-tech employment was down by only 25,000 jobs out of 5.6 million workers in 2004. US high-tech exports were up by 12% for a total of $191 billion in 2004, while technology-related venture capital investments were up for the first time in four years.

California, which currently leads the nation in 15 of 16 high-tech industry segments, was home to 43,600 high-tech establishments in 2003, and ranked 1st nationwide with R&D expenditures of $51 billion in 2002, the report said.

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