Tech sector worth $48B to N.J. economy, study finds

By Eric Strauss
New Jersey | Mar 28, 2018 at 7:05 am

New Jersey’s technology industry contributed $48 billion to the state’s economy in 2017, according to an analysis by the CompTIA association.

CompTIA, the Computing Technology Industry Association, said its Cyberstates 2018 analysis also found that New Jersey added 1,800 tech jobs for the year, bolstering its headcount to 337,900 workers — good for 7.8 percent of the state’s workforce and ranking 13th among the 50 states and Washington, D.C., in terms of net tech-industry employment.

Illinois-based CompTIA said the average tech industry wage in the state was $122,830, which was 93 percent higher than the overall average private-sector wage of $63,600. The tech figure was good for fourth-highest in the nation.

It also said the tech sector is responsible for more than 9 percent of the overall state economy.

Overall, the state ranked 11th in the nation in Cyberstates Innovation Score, down from 5th a year ago. The ranking is based on an analysis of per-capita new tech patents awarded, startups and new business establishments.

For the complete analysis, click here.