Printer Friendly

CORPTECH SURVEY FORECASTS 4 PERCENT EMPLOYMENT GROWTH FOR NEW YORK METRO REGION IN 1994

 WOBURN, Mass., Sept. 1 /PRNewswire/ -- A just-released survey, taken from the database for the new Regional Technology Guide for Metro-NY, reveals the beginnings of a healthy recovery for the state's high-technology manufacturing companies. The publisher says the reasons for the atmosphere of rediscovered optimism among executives, after a half-decade of industry decline, is something for everyone to celebrate.
 "This is the kind of information in a new database we really enjoy talking about -- because it means jobs," explains Steve Caldwell, vice president for Corporate Technology Information Services of Woburn. "High-technology manufacturing in Metro-NY is making a come-back," he adds. "Biotechnology unquestionably ranks as today's industry leader according to researchers. This sector alone projects a 19.8 percent increase in employment for 1994, which exceeds last year's record 19.6 percent. Although biotechnology represents a smaller segment of the state's employees, it's the tip of a mountain of revitalization that's taking place."
 In fact, the new database, which provides detailed profiles of companies producing high technology products, shows a growth trend for all 17 classifications in the industry. Computer software expects an 8.2 percent increase in employment in the coming year. Computer hardware expects 7.1 percent. Telecommunications companies plan to grow 6.5 percent after a 13.5 percent decline last year. The other industries tracked by CorpTech expect the employment change shown below:
 Industry Firms Sales Employment Growth Percent
 $ millions Last yr. Next yr.
 Biotechnology 33 $573 5,179 19.6 19.8
 Computer software 501 2,770 25,972 7.8 8.2
 Computer hardware 197 92,903 539,289 -1.8 7.1
 Telecommunications 123 101,892 601,425 -13.5 6.5
 Pharmaceuticals 45 33,093 188,380 2.9 6.0
 Environmental 183 2,877 46,148 4.8 5.4
 Subassemblies &
 components 339 15,124 135,937 -4.6 3.7
 Medical 113 1,585 19,912 -1.6 3.5
 Photonics incl.
 lasers 97 790 5,183 0.6 3.4
 Test & measurement 173 2,575 22,186 -0.1 3.4
 Manufacturing
 equipment 105 4,250 27,762 -17.7 3.0
 Advanced materials 127 10,298 62,100 -1.7 1.9
 Transportation 62 6,048 56,271 -5.1 1.3
 Energy 42 7,443 89,925 5.9 0.9
 Factory automation 173 5,299 48,365 -3.4 0.8
 Chemicals 91 11,894 62,446 -2.3 0.4
 Defense 32 6,473 52,534 -6.1 0.3
 Not primarily
 high-tech 366 231,567 1,068,208 -6.6 1.1
 Total 2,802 537,433 3,057,222 -3.1 3.7
 The database, available in print, and diskette formats, is especially designed to help make job-searches easy and to provide in-depth data for those involved in research, marketing, and sales. "We also hope that this new database will foster partnerships between private companies and the federal government to develop and commercialize viable technologies in the region," adds Caldwell. "This should help position companies in New York City, Long Island, Westchester, and Southern Connecticut in the competition for federal transition funding, and economic development."
 -0- 9/1/93
 /CONTACT: Steven Caldwell of CorpTech, 800-333-8036/


CO: CorpTech ST: Massachusetts IN: CPR SU: ECO

DJ-CM -- NE012 -- 8065 09/01/93 15:34 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 1, 1993
Words:547
Previous Article:SUNRISE LEASING CORPORATION ANNOUNCES OPENING OF HOUSTON OFFICE
Next Article:MCI COMMENCES SERVICE ON APC FIBER OPTIC CABLE SYSTEM
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters