After working for more than five years as a software engineer at a Massachusetts-based digital-video editing company, Dave Lanzar decided it was time to take a chance and join the ranks of a start-up streaming media company that had yet to go public.
“The future was rosy and we were all going to get rich,” Lanzar said.
But that future never materialized, and the company that was supposed to make 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 downturn in the job market that hit the Massachusetts technology sector especially hard.
Lanzar did not work as a programmer again for over two years. During that time he burnt through his entire savings and starting doing odd jobs like baby-sitting and lawn-work to survive. In October 2003 he secured a several-month-long contract job.
After the contract ended in early 2004, it was six more months until Lanzar found a permanent job. Even though he is back to work, his extended, unpaid and unwanted vacation still haunts him.
“I definitely, sometimes feel my rustiness. I’m having to work very hard to overcome that,” Lanzar said.
The Massachusetts high-tech industry has been the setting for thousands of similar stories since 2001. The Greater Boston Chamber of Commerce reported that, between 2001 and 2003, the Boston area alone lost 32,000 high-technology jobs -- a 22 percent loss.
The Mass Software Council reported in the 2004-2005 edition of its yearly software industry research publication, The Complete Guide to the Massachusetts Software Industry, that the state lost 121 software companies and 3,859 software-related jobs in 2...
... middle of paper ...
...the state will not invest too heavily in one specific technological growth area, such as stem-cell research, while ignoring the rest.
“We think if there’s going to be an investment in technology, it should be more broad-based,” said Boulanger.
Boulanger also warns of possible dangers looming on the horizon that could impede growth. He points to proposed Massachusetts House bill 2606 as a potential momentum killer. The bill aims to close corporate tax loopholes, and includes a measure to ensure that any software bought online would be subject to state tax. The bill claims this loophole is worth an estimated $50 million dollars in yearly revenue.
“It’s definitely moving in the wrong direction,” Boulanger said. “The state government has the ability to make Massachusetts companies more competitive around the margins. And that is all we are really asking for.”
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The Impact of Emerging Technology on the Public Sector The impact of information technology has been tremendous within the public sector. Over the years, the growth and development of technology has caused the public sector to change. One of the most significant changes in technology has been the evolution of the information systems and how their development has reshaped the way the world uses technology. “It has been just over fifty years since the worlds first programmable computer became operational.... [tags: Technology Technological Papers]
4860 words (13.9 pages)
- Literature review According to Wager, Lee, & Glaser (2013), HealthCare information management is the exercise of servicing and proper good care of health information by traditional and new digital means in healthcare centers, physician's office hospitals, health divisions, health insurance policy organizations, and other features that provide health good care or servicing of health information. Armoni (2010) adds that with the widespread computerization of health information and other information sources, such as healthcare center management features and health recruiting details, health informatics and health technological innovation are being increasingly utilized in information control pr... [tags: coverage, technology, systems]
1591 words (4.5 pages)
- India's Food Processing Sector Report Highlights: India’s food-processing sector, although still in a nascent stage, has undergone important changes over the last six to seven years. The types, variety, quality, and presentation of products have all improved, mainly as a result of economic liberalization, which led to foreign direct investment (FDI) in this sector. Several multinational companies, including US companies like Pepsi, Coca Cola, ConAgra, Cargill, Heinz, and Kellogg’s have invested in the Indian food-processing industry.... [tags: India Food Sector Market Business]
1727 words (4.9 pages)
- Both Egypt and Liberia have been struggling to improve their security sector reform. In Egypt they have been facing a revolution since 2011. It started when President Hosni Mubarak's security and police were harsh and merciless toward the people and because of his security divisions that weren’t doing their jobs correctly. Liberia revolution on the other hand is being lead by Charles Taylor who is head of Liberia and who was kind of their unelected president at the time but is now elected as their current president.... [tags: Security Sector Reform]
1089 words (3.1 pages)
- Introduction The purpose of The North Carolina Association of County Commissioners reviewing broadband accessibility to North Carolina General Assembly is to provide information concerning the deployment of high speed broadband services and establish a legitimate recommendation using practical and current significance. The NCACC was founded in 1908, and considered one of the most active statewide local government associations in the nation. “The Association employs a professional staff to run the day-to-day operations and to provide expertise in the areas of lobbying, fiscal and legal research, communications, intergovernmental relations, information technology, field visits and risk manage... [tags: Technology]
2527 words (7.2 pages)
- The United States has been known for its constitution based republic. We elect officials to represent and vote for us, as a whole. Over the years, Congress has been doing their job with little oversight from the citizens they represent. More citizens are becoming upset with the way the United States of America is being governed; citizens are now standing up and fighting for what they believe in. The federal government is slowly intruding in the private sector. They have bailed out Chrysler and General Motors, which are two large car companies.... [tags: Government, Private Sector, USA, ]
681 words (1.9 pages)
- Change in Massachusetts Politics Massachusetts has always been known for its politics. From the days of John Hancock and John Adams to the Kennedy Compound and failed Dukakis presidential campaign, the Bay State is, has been, and always will be a hotbed of political activism. But that does not mean that Massachusetts has a vibrant two party system. If anything can be said about Massachusetts, it is that the state and its voters are certainly lop-sided towards one party. Massachusetts currently has Democrats filling all of their US House and US Senate Seats, as well as a 138 of 160 State House seats, and 33 of 40 State Senate seats.... [tags: Massachusetts Politics Government Essays]
1683 words (4.8 pages)
- Hingham, Massachusetts In 1633 settlers from Hingham, England landed on the south shore of Massachusetts. Soon after, my relatives arrived in Hingham, Massachusetts and our heritage has remained intact ever since. Eleanor Roosevelt traveled down Main St. Hingham and described it as the most beautiful Main Street in America. Ancestors of 16th president, Abraham Lincoln were among the first to arrive in Massachusetts and his massive statue in downtown Hingham helps people remember that. The oldest church with continuous use in the United States built in 1681 is located in Hingham also.... [tags: Hingham Massachusetts]
555 words (1.6 pages)
- IT Sector Trends in India The Indian information technology sector has been instrumental in driving the nation's economy onto the rapid growth curve. According to the Nasscom-Deloitte study, the IT/ITES industry's contribution to the country's GDP has increased to a share of 5.2 per cent in 2007, as against 1.2 per cent in 1998. Further, the IT and BPO industries are poised to clock revenues worth US$ 64 billion by the end of fiscal year 2008, registering a growth of 33 per cent with exports expected to cross US$ 40 billion and the domestic market estimated to clock over US$ 23 billion, according to a study.... [tags: India Information Technology]
1455 words (4.2 pages)
- The Impact of Information Technology on the UK Financial Sector I have studied that in business, information technology can be used if effective in a strategic way in order to gain a competitive advantage and this can be seen in the UK financial services. In such an industry it can be said to be one of the most dynamic and rapidly growing sectors of the economy. Such a rate of change and growth has created a prolific environment for the innovation of information technology. The application of information technology has had a qualitative impact by changing the mode of operation in the financial sector, modifying the range of services provided and linking together geographically isolated fina... [tags: Business and Management Studies]
1284 words (3.7 pages)