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"High technology firms create new industries, such as electronic commerce and mobile cellular communications and revitalize old ones such as autos and textiles. The electronics and information technology industry employed more than 4 million workers in 1995. It was the single largest manufacturing employer in the United States with some 1.9 million workers...The economic impact of the high-tech industry is enormous, whether measured by employment, payroll, wages or exports."
DALLAS (September 9, 1997) The high technology industry has been one of the fastest growing industries in the world, as well as in the U.S., the state of Texas and the Dallas/Fort Worth area. It has the potential to outpace its historical 15% annual growth. High-tech industry depends upon semiconductors, the "microchips" that power and control computers, automobiles, telephones and other devices.
Impact on the Global Economy
Texas Instruments Incorporated (TI) is a global semiconductor company and the world's leading designer and supplier of digital signal processing solutions, the engines driving the digitization of electronics. The company has manufacturing or sales operations in more than 25 countries, and employs more than 43,000 people worldwide.
Since TI engineer Jack Kilby built the first integrated circuit in 1958, the global semiconductor market has grown to $132 billion (1996), and the electronic end equipment market exceeds $950 billion. Rising semiconductor content in electronics equipment and the emergence of new markets in developing countries, plus strong worldwide growth in the communications and computer sectors, are expected to boost the semiconductor business long term annual growth to 15% to 20%.
Semiconductor content in electronic end equipment increased from 4% in the 1970s to 16% in 1996. Today, semiconductors account for between 30% and 40% of the cost of a personal computer, and about $100 worth of semiconductors are in each cellular phone. About 15 million new U.S.-built passenger cars and light utility vehicles were sold in the U.S. during 1996, each typically containing about $140 worth of semiconductor devices.
Impact of High-Tech on U.S. Economy
The high-tech industry is a growing contributor to the U.S. economy:
|"The Dallas metropolitan area accounts for 38% of Texas' 314,000 high-tech workers...the North Central Texas Council of Governments has projected the (Telecom) Corridor's employment, which now stands at 80,000, to reach approximately 127,000 by 2020, a figure that edges closer to the council's projection of 135,000 for Dallas' Central Business District."...
Texas Business, May 1997
|The Importance of High-Tech industry to Texas
"The history of Texas lies in cattle and oil. But increasingly, the future of the state is becoming linked with the ever-evolving high-tech industry. High-tech employment has grown more than twice as fast in Texas as it has in the nation during the 1990s...The high-tech expansion has had an indirect impact on the state's economy by keeping other industries humming...One of the best examples of the indirect effects is the impact on the state's construction and real estate industries. On the average, wages in the high-tech industry have been growing faster than those in other industries, and high-tech workers in Texas earn 36% more than workers in non-high-tech manufacturing."
High-tech industries are catalysts for Texas' economy:
Texas has emerged as one of the world's foremost regions for the production of electronic components according to Texas in the Global Economy: A Profile of the Microelectronics Industry (December 1995). This study says that:
Impact on the Dallas Area
"Most of the rapid growth of Texas' manufacturing sector over the past two years has been driven by high Technology industries. In 1994 and 1995, computers/industrial machinery and electronics together accounted for over 60 percent of the 22,000 annual gain in total manufacturing jobs...Most of the activity has been in the Dallas-Fort Worth Metroplex and the Austin area."
Founded and headquartered in Dallas, Texas, TI is the fifth largest employer. The company has made tremendous investments in research and development (R&D), and is projected to spend $1.1 billion this year. R&D stimulates new businesses and innovations that create new industries, and the impact of research and development dollars is similar to that of manufacturing, doubling in economic impact for each dollar spent.
TI's new Kilby Center and the new wafer fab DMOS 6 together represent an investment of more than $1 billion. Their construction added the equivalent of $200 million into the local economy, and their operation will continue to positively impact Dallas' economy. They will be staffed by approximately 1,600 employees with an annual payroll of $85 million. The facilities will directly add more than $240 million annually to the local economy, not including new jobs and new businesses moving to the area to support them. With the multiplier effect, the annual economic impact totals $480 million.