Madison's list of technology companies grows despite recession

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The economy may be in its worst slump in decades, but at least one industry is still sprouting new companies and adding jobs in the Madison area.

Technology companies boosted their revenue by more than $500 million in 2008 and added about 1,000 jobs over the previous year, according to a survey by Madison Gas & Electric.

That amounts to a total of 30,000 jobs — or nearly 10 percent of the region’s total employment — at more than 575 technology-related businesses, with combined revenue of $6.5 billion, the utility company estimates.

Even with the loss of about a dozen companies that have either failed, been purchased or moved, the 2009 Greater Madison Area Directory of High-Tech Companies, compiled by MGE, lists a net increase of 50 businesses over the 525 in last year’s edition.

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