Thursday, June 15, 2006

TN Ranks 10th in Tech Exports

I'm glad to see that a push from the Governor's office focusing on development of high tech business in Tennessee is paying in huge ways, according to reports from the state's Economic and Community Development office. Since the Export Tennessee program was put into place, small and medium sized biz can educate themselves about how to make the global economy work for them, and rather than see jobs outsourced, there's now attention on making jobs selling products abroad.

The billions of earnings in increases are cited in a press release:

"According to the U.S. Department of Commerce’s Export Assistance Center in Nashville, Tennessee exports rose by 51% from 2003-2005, the highest rate of growth of any major exporting state in the country. Tennessee exports continue their rapid trajectory in the first quarter of 2006, growing 21% above the same period last year and far outpacing the national average of 14%. Tennessee is now the 14th largest exporting state in the nation in terms of overall dollar volume. In 2005, Tennessee companies exported more than $19 billion dollars worth of goods and services to foreign markets. The state’s largest export commodities include cotton, automobiles, auto parts and medical devices. The American Electronics Association’s 2006 Cyberstates Report showed unexpected strength in Tennessee’s technology sector, especially among companies which manufacture computers and data processing equipment. The AeA report placed the dollar value of Tennessee exports from this sector at $3.8 billion dollars in 2005, an increase of 23% over the previous year. That volume was good enough to rank Tennessee 10th among technology exporting states, ahead of traditionally strong export states like Georgia and North Carolina. Tennessee ranked 14th in technology exports in 2004 and 21st in 2003

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