The article examines the growth and input structure of the American high-technology sector from 1967 to 1982. It finds that real growth in high-tech production occurred during the business cycle of 1973-1979, with material and capital being the main drivers of output growth. Labor and total factor productivity had minimal impact. The study also shows that there are substitution possibilities among resource inputs in high-tech production, and technical change is biased towards stocks of R&D.