When we talk about tech hubs and cities, usually the first place that comes to mind is Silicon Valley. No wonder: the region rose to prominence in the 1950s thanks to many factors, including the military presence in the region and the research and development conducted at Stanford University. Over 50 years later, it still houses thousands of high technology companies, such as Intel, Electronic Arts, Cisco Systems, and Adobe.
Gone are the days, however, when Northern California was the only major destination for the technology market. Several cities in North America have developed over the years and proven their potential as true tech regions. Here, we highlight 10 of these places and give you a snapshot of the local technology markets.
The capital of Georgia has been seeing steady growth in total tech occupations throughout the years. CBRE 2021 Scoring Tech Talent report shows a 15.2% growth in the 2015-2020 period, with a 13.7% growth in average tech wage during the same time. The city also saw an 11.6% increase in the 23-38 year-old population since 2014, which means a boost in the number of young professionals eager to learn and join the bulging tech industry.
Major corporations such as Apple, Google, and Microsoft have opened offices in the city, and the financial services giant Visa announced last year its plans to move into the region.
The technology hub of Texas, by mid-2021, saw its job market almost completely recover from the impact of COVID-19, regaining 96% of spring 2020’s pandemic-related job losses, according to the city’s Chamber of Commerce. Not only that, but the capital of the Lone Star State also enjoys a few perks which may lend a hand to the development of its tech scene, including low cost of living and no state income taxes.
A major destination, especially for many Software-as-a-Service (SaaS) companies, Boston is home to many enterprises that offer top-notch services, such as SEMRush and internet cybersecurity specialist Akamai.
CBRE’s report highlights a 7.1% growth in total tech occupations between 2015 and 2020 with an even larger increase in average wages, which rose by 11.5% in the same period. Boston is also seeing a dramatic increase in graduates from STEM-related occupations, with a 92% surge in computer engineering degree completions between 2015 and 2019 and an even more impressive 98% increase in math/statistics degrees.
The main technology market of the Midwest, Chicago is a breeding ground for startups and fast-growing tech companies. Even though this isn’t the most traditional industry in the region, many important tech companies chose to extend their operations here, such as Amazon and Uber. Despite a modest tech occupations growth rate of merely 4.6% between 2015 and 2020, Chicago enjoyed an average wage boost of 15.3% in the same period.
Traditionally an industrial region that flourished mainly around the automobile industry, Detroit has been living somewhat of a technological revolution with the new companies settling in the Motor City. Industry-leading enterprises and technology behemoths such as Google, Microsoft, Apple, Amazon, and IBM have already settled in the city, which also houses regional offices for companies like Twitter, Cisco, and Linkedin.
The state of Detroit’s tech market becomes clearer when compared with the non-tech economy. While total non-tech occupations increased by 0.1% between 2015 and 2020, with a 24.3% growth in average wages, total tech occupations rose by 4.5%, with an average 11.7% increase in average salaries.
New York has an established and thriving tech scene, with hundreds of thousands of its citizens working in technology. According to the 2021 Global Startup Ecosystem Report (GSER) published by Startup Genome, New York saw a total of US$ 10.2 billion in total early stage funding for startups.
Even a market with such a history still enjoys a considerable growth rate, with a 6.7% augmentation in total tech occupations from 2015 to 2020 and a 13.3% increase in average wages for tech-related occupations.
The Canadian city rose to the top of the fastest-growing high-tech cities ranking compiled by CBRE on their Tech-30 2021 report, with a 26.4% increase in high-tech jobs between 2019 and 2020. As the country’s business capital and one of the most desired cities in Canada, Toronto is currently the world’s 9th most high-tech city and is home to companies such as Netlflix, Google, Doordash, Uber, Amazon, and Shopify.
When we look at more historical data, Toronto’s already impressive tech numbers become even bolder, with a 42.8% boost in total tech occupations between 2015 and 2020, and a 12.6% increase in average wages.
The main technology destination in the Pacific Northwest, Seattle is an established tech hub which houses some of the biggest companies in the world, such as Amazon, Microsoft, Google, Getty Images, and Tableau. The city has also seen considerably strong numbers in terms of employment in the technology sector, with an impressive 35.4% increase in total tech
occupations between 2015 and 2020, and an average wage boost of 15.3% in the same period, according to CBRE’s Scoring Tech Talent 2021 report.
Just due to its proximity to Silicon Valley there’s no way we could leave San Francisco out of this list. The city has a tradition of entrepreneurship and innovation and enjoys all of the financial and investment opportunities that come from being a world-level player in the field of tech.
As a result, the tech sector has been reaping very positive numbers over the last few years, especially when compared with the traditional occupations: while non-tech jobs increased by 0.4% in the 2015-2020 period, total tech-related occupations rose by 16.4% during these 5 years. Also, the average wages for tech jobs recorded an even better boost, with a 16.6% rise in the same time frame.
The capital of the United States is a longtime established destination for technology companies. That becomes evident when we take a look at the corporations that have housed operations in the city, such as Amazon, IBM, Oracle, Microsoft, and Apple, just to name a few.
Washington DC also benefits from its political position, with government contracts serving as an added incentive for companies from all over the country. As a result of its dynamic market, DC is one of the only cities with an average wage increase parallel to the boost in jobs: while total tech occupations rose by 10% in the 2015-2020 period, salaries increased by 10.5% in the same period.
As you can see, there are many regions in North America that profit from a booming tech market and offer their advantages for companies looking for a place to call home. Also, if you’re on the other side of the spectrum and are looking for the best tech service providers, there’s no need to limit your search to the Silicon Valley region anymore with such a selection of interesting and established tech hubs throughout the continent.