For the longest time, Silicon Valley has been a hub for high-tech workers. That has slowly changed, as high-tech jobs have moved out into other locations. In this first part, we’ll show you the latest hotspots for high tech that aren’t Silicon Valley locations.
The Most Popular Spots
Beyond the San Francisco area, Seattle and New York are both highly-saturated tech hubs. While these are the most popular, they are also the most saturated. Not only is it extremely expensive to live in these locations, but smaller start-ups find it harder to make their mark when they are competing with every other tech player in the game.
Why Make the Move?
There are a few reasons to consider an up-and-coming high-tech hub. For one, it’s cheaper to live. As mentioned above, San Francisco, New York, and Seattle aren’t the cheapest places to put down roots.
In fact, according to Bungalow:
Housing cost is by far the biggest expense for people living in San Francisco. The average SF rent of $3,700 is two and a half times the national average of $1,463. Only Manhattan is more expensive, with average rents of $4,210.
And if you plan on buying a home in the Bay Area, it is the most expensive place in the United States.
State Income Taxes, or Lack Thereof
Some are looking for greener pastures in the way of not paying state taxes. Certain states like Texas and Florida don’t have state income taxes, which can mean a big difference in your business plan, as well as your personal income.
Companies Making the Move
Here are a few companies that are either moving their headquarters or expanding into other areas of the country. This doesn’t necessarily mean they’re packing their bags and leaving one of the big three tech hubs, but it does mean they are putting down roots of some kind in other locations.
- Hewlett Packard Enterprise
- Oracle
- Uber
- Digital Reality
- Airbnb
- Salesforce
- Yelp
Where Are the New Hotspots?
So, if you’re wondering where these awesome new hotspots are, check out part two of this series on Hotspots for High Tech That Aren’t Silicon Valley Locations. You may be surprised at some of the places companies are flocking to.
About Synergy
Synergy Solutions is an executive and contract search firm focused on roles within the technology sector. If you have questions regarding this article or would like to discuss strategy on open roles at your company, please contact us and someone will get back to you within the next 24 hours.