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State of the NH High Tech Economy

October 15, 2008

Recently Ross Gittell and his team at UNH released the latest report on the Granite State’s High Tech Economy.  We will share more on this report in the future, but the most immediate thing to know is that we need polticians elected on Nov 4th that understand both the importance of the high tech industry to our state and the policies required to keep it fueled and growing!

Profile of the High Technology Industry in New Hampshire

ØNew Hampshire’s high tech industry accounts for 9 percent of total private sector employment in the state (about 49,000 jobs) and for approximately one-quarter of the state’s economic output.

ØIn 2006 in New Hampshire high tech average annual earning was just under $75,200, which is 75 percent higher than average (all industries) wage.

ØIn 2007 New Hampshire exported $1.1 billion in high tech goods, which accounts for 36 percent of total exports from New Hampshire.

ØDuring the “tech bust” of the early 2000’s New Hampshire had a higher percentage decline in high tech employment than any other state.  Between 2000 and 2003 high tech employment fell over 22 percent in New Hampshire, compared to a decrease of 12 percent in the nation.

ØThe current level of high technology employment in the state is lower than in the early 1990s and New Hampshire has dropped in the high tech concentration rank, from 4th in 1995 to 8th in 2006.  

ØThe most significant employment decline has been in high tech manufacturing industries. 

ØThere are opportunities to expand the base of high technology employment in the state. This includes opportunity to grow sectors of the high technology industry that are already strong — including defense-related industries — and to grow in sectors that are emerging in importance — including in the so-called “green economy.”

ØThe next couple of years will be challenging ones for firms in the high tech industry (and all industries). But in high technology with challenges, come opportunities to innovate, to develop new products and services, and to serve and create new markets and these opportunities are all available for high technology companies in New Hampshire. 


Written by www.newhampshirestartups.com · Filed Under Blog, Personal, Politics 

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