Illinois Ranks 7th in the Nation in High-Tech Exports
WASHINGTON, DC Nov. 30, 2010 /PRNewswire-USNewswire/ -- TechAmerica Foundation today released its annual report detailing national and state trends in the international trade of high-tech goods. The report, Trade in the Cyberstates 2010: A State-by-State Overview of High-Tech International Trade, covers all 50 states, the District of Columbia, and Puerto Rico.
Tech exports in Illinois totaled $5.9 billion in 2009. Illinois ranks seventh nationally in high-tech exports. Electromedical equipment (ranked 4th) and communications equipment (ranked 5th) are Illinois's largest tech export sectors, with $1.4 billion and $1.2 billion, respectively.
High-tech exports support jobs – in the case of Illinois 32,600 high-paying jobs, said T. Kendall Hunt, Chairman, CEO, VASCO Data Security International, Inc., and Chairman of TechAmerica Midwest. Our leaders in Washington need to work to increase access to foreign markets through bilateral and multilateral trade deals. We urge Congress and the Administration to work together to pass Free Trade Agreements with Colombia, Panama, and South Korea.
Illinois' trade activities continue to serve as an important driver of the economy. The tech industry is certainly no exception, as is evidenced by the $5.9 billion impact to the economy last year, said Illinois Department of Commerce and Economic Opportunity Director Warren Ribley. While this is a decline from last year, Illinois actually rose one spot in the national rankings and is still the leader in tech exports among the Midwest states, giving us great promise for the future.
Nationally, Trade in the Cyberstates 2010 shows that U.S. high-tech goods exports fell by 16 percent in 2009, reaching $188 billion, representing 18 percent of all U.S. exports to the world. Tech exports in Illinois followed a similar trend and were down $1.2 billion or 17 percent from the previous year. High-tech imports were down by 11 percent nationally, totaling $299 billion in 2009, resulting in a slight improvement in the high-tech trade deficit, which stands at $111 billion. High-tech exports supported 944,300 jobs in the United States.
Trade in the Cyberstates 2010 provides a comprehensive review of international trade of high-tech goods at the national and state-by-state level. The report provides overview pages for all 50 states, the District of Columbia, and Puerto Rico. These snapshot pages highlight historical high-tech export trends, exports by individual tech sector, and leading export destinations.
This report is a partner publication to TechAmerica Foundation's other two annual cyber publications, Cyberstates and Cybercities, which provide data on high-tech jobs, wages, payroll, and other factors at the state and metropolitan levels.
Trade in the Cyberstates 2010 and its sister publications can be purchased for $150 at: www.techamericafoundation.org/research.
What Does High-Tech Trade Mean for Illinois?
1. $5.9 billion in high-tech exports (7th ranked cyberstate)
2. Down $1.2 billion in tech exports between 2008 and 2009
3. 14 percent of exports from Illinois are tech exports (ranked 22nd)
4. 32,600 jobs in Illinois are supported by tech exports
Illinois' Leading Tech Export Destinations:
1. $1.2 billion in tech exports to Canada
2. $439 million in tech exports to Mexico
3. $434 million in tech exports to Japan
Illinois' Leading Tech Export Sectors:
1. 3rd in electronic components exports at $967 million
2. 4th in electromedical equipment exports at $1.4 billion
3. 5th in communications equipment exports at $1.2 billion
Source: U.S. Census Bureau
Data are for 2009.
Published by TechAmerica Foundation, sister organization of TechAmerica – Where the Future Begins (www.techamerica.org)
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, the leading voice and resource for the U.S. technology industry. It 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. The foundation also organizes conferences and seminars to explore pertinent issues with government and industry representatives and to share the foundation's findings.
SOURCE TechAmerica
