The 48-year-old suspect, whose name was not released, allegedly transferred confidential information to a Russian company about technological processes, specifications and clients of the Plansee Group, which specializes in producing refractory metal products and special materials.
The suspect faces up to three years in prison if convicted, the prosecutor said.
Prosecutors said earlier that two other suspects involved in the case, both Plansee employees, have not been arrested.
The Austrian media said the main suspect left the Plansee Group three years ago after 20 years with the company and led an important project at the Institute of Mineralogy. Three months ago he became a professor at Innsbruck University.