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The Massachusetts Technology Sector Essay

Project id 1000254
Subject area Arts Entertainment
Document type Essay
Words 3391
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The Massachusetts Technology Sector After employed for at least five years as an applications engineer at a Massachusetts-based digital-video editing firm, Dave Lanzar determined it was time to take a chance and join the ranks of a start-up streaming media firm who had yet to go public. "The future was rosy and we're all going to become rich," Lanzar stated. But that future never materialized, and the firm which was supposed to create Lanzar rich no longer exists. He was laid off in August 2001, one month before the terrorist attacks on Sept.11, 2001 accelerated an already progressing recession in the labor market that hit the Massachusetts technology sector especially hard. Lanzar didn't work as a programmer again for over two decades. During that time he burnt by his entire savings and beginning doing odd jobs like baby-sitting and lawn-work to endure. In October 2003 he procured a several-month-long contract job. After the contract finished in early 2004, it had been six more months until Lanzar found a permanent project. Although he is back to work, his long, unpaid and unwanted vacation still haunts him. "I certainly, occasionally feel my rustiness. I am needing to work really hard to overcome that," Lanzar stated. The Massachusetts high-tech business has been the setting for a large number of similar tales since 2001. The Greater Boston Chamber of Commerce reported that, between 2001 and 2003, the Boston region alone dropped 32,000 high-technology jobs - a 22 percent reduction. The Mass Software Council reported in the 2004-2005 version of its yearly applications industry research novel, The Complete Guide to the Massachusetts Software Industry, that the state lost 121 software companies and 3,859 software-related projects in 2...

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