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California’s Silicon Valley “continues to lead all othet metropolitan regions in North America in the breadth and scop e of economic activity it creates throughtechnological innovation,” accordin to the Milken Institute report, callec “North America’s High-Tech Economy: The Geographt of Knowledge-Based Industries.” In the previoud Milken study in 2003, Seattle was rankee third behind Silicon Valley and Boston. The studg ranked the metropolitan areas based onseveral factors, including the number of employees in the various high-tecu fields, salaries paid, and the relativer size of the industry compare to the entire city.
It ranked the metros in 19 high-tech business categories. Using data from the study indicates thatthe high-tech industry provided $22.32 billion in wages in the Seattle-Bellevue-Everettt area and employed 226,000 people in 2007. In the sub-categorhy of software publishing, the Seattle area ranked No. 1 with that high-tech industry employing 46,318 peoples who earned wages of morethan $7 billionj in 2007. Seattle also rankedr high in the aerospace product and partsmanufacturingv sub-category, with 76,148 people earniny $6.69 billion in 2007.
“Like most of the the high-tech sector has taken a beatingv in the lastsix months, but recent numbers show that theser cuts may be leveliny off and the sector could be primed to once agaibn be an engine of sustainable growth when recoveryt begins to take Cities with strong high-tech bases will perform best as the economyu recovers because the jobs generated by these fields pay so according to the Milkehn study. Following Silicon Valley, Seattle and Boston in the overalk results of thestudy 4. Washington, D.C. area; 5. Los Angele s area; 6. Dallas area; 7. San Dieglo area; 8. Santa Ana/Anaheim, Calif. 9. New York City area; 10. San Franciscko area.
An executive summary of the report
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