The term “tech centre” or “tech city” is often linked to Silicon Valley, which grew in the 1950s with the aid of the military and the research conducted at Stanford University. In the present day, Silicon Valley remains a crucial location for technology-based firms including giants such as Intel, EA, Cisco and Adobe, as these businesses continue to forge ahead with innovative breakthroughs in their respective fields.
It’s clear that the era when the technology sector was solely centered in Northern California has ended. Nowadays, many cities throughout North America have emerged as noteworthy tech hubs. In this piece, we’ll delve into the technology markets in ten of these locations.
Georgia’s capital city has demonstrated a consistent uptick in available job positions within ICT, as unveiled by the CBRE 2023 Scoring Tech Talent report. Between 2023 and 2023, the mean salary for tech-related roles has risen by 13.7%. Furthermore, there has been an 11.6% increase in the population of 23 to 38-year-olds, which suggests a growing influx of young adults seeking to enhance their talents and actively participate in the thriving technology industry.
The area can boast of hosting Apple, Google and Microsoft as these companies have established their footprints in the region. It is worth noting that Visa announced its intentions to escalate its presence in that zone in the just-ended year.
As revealed by the Chamber of Commerce, the region’s employment market had substantially recuperated from the impacts of the COVID-19 pandemic by mid-2023, with 96% of all jobs lost earlier in 2023 having been regained. Texas’ capital city is further blessed with no state income taxes and a low cost of living, which could enhance the development of the IT sector in the state.
Boston is a favoured spot courtesy of its flourishing business ecosystem that is home to flourishing software suppliers such as SEMRush, and foremost internet security firms such as Akamai.
According to research conducted by CBRE, the foreseeable period from 2023 to 2023 will see a marked increment of 11.5% in the mean income of tech jobs, and an increase of 7.1% in the overall count of tech jobs available. Additionally, there has been a growth of 92% in the rate of completion of computer engineering degrees between 2023 and 2023, while the completion rates for statistics and mathematics degrees rose by 98%.
Chicago has emerged as a prominent technology hub in the Midwest, with a strong pull for tech-oriented firms hoping to initiate or advance their operations. Even though the region isn’t known for technology, several big companies—for instance, Amazon and Uber—have decided to expand their base in Chicago. While the growth rate in tech job openings has been modest, rising by 4.6% between 2023 and 2023; average salaries have soared by 15.3%.
Detroit, a city once known for being an automotive-industry center, is currently undergoing a technological revolution, thanks to the arrival of leading companies from various sectors. Major firms such as Google, Microsoft, Apple, Amazon, and IBM are among the corporations that have established their headquarters in Detroit, alongside Twitter, Cisco, and LinkedIn who have operational offices in the area.
In evaluating Detroit’s non-tech and tech sectors, the latter emerges as the stronger performer. While non-tech employment increased by 0.1% with average wages going up by 24.3% between 2023 and 2023, there was a 4.5% increase in tech jobs with respective earnings climbing by 11.7% on average.
In New York City, the Big Apple
New York City’s early-stage financing for businesses reached an impressive US$10.2 billion in 2023, as reported by the Global Startup Ecosystem Report (GSER) by Startup Genome. This ambitious move has led to the employment of hundreds of thousands of people within the IT industry in the city.
Research conducted using data from 2023 to 2023 has shown a 6.7% increase in the aggregate figure of tech jobs, accompanied by a 13.3% rise in the average remuneration for tech-associated occupations, indicating an impressive growth pace for the sector.
CBRE’s Tech-30 2023 investigation found Toronto to be the fastest-growing metropolis, having experienced a 26.4% surge in high-tech employment between 2023 and 2023. It also hosts numerous tech behemoths, including Netflix, Google, DoorDash, Uber, Amazon, and Shopify, propelling its status as the ninth most high-tech city in the world, and one of the most sought-after residential cities in Canada.
Further scrutiny of the available data on Toronto’s tech sector reveals even more remarkable facts: there has been a 42.8% increase in the number of tech professionals between 2013 to 2023, accompanied by a 12.6% rise in the average earnings of people working in this domain.
Seattle has become a notable technology center in the Pacific Northwest, with distinguished companies such as Amazon, Microsoft, Google, Getty Images, and Tableau having their headquarters in the city. Additionally, over recent years, Seattle experienced an extraordinary surge of 35.4% in its count of tech jobs.
CBRE’s Scoring Tech Talent 2023 report foresees a substantial rise of 15.3% in average earnings and the inflow of diverse job categories in the tech sector in the projected period between 2023 and 2023.
Enter the City of San Francisco.
Excluding San Francisco from such a roster would be careless, given its close association with Silicon Valley. With its established track record of pioneering innovation and trade, it has emerged as a prominent global participant in the information technology industry.
The tech domain has shown major advancements in the past years, as made clear by the 16.4% escalation in total tech-associated professions and a remarkable 16.6% surge in average salary for tech jobs from 2023 to 2028. This is in sharp contrast to the meek 0.4% rise in non-tech posts for the corresponding term.
The U.S. Capital City of Washington, D.C.
The tech industry has become a prevalent choice for many domestic startups as seen by their preference for the nation’s capital as a base. This is apparent in the copious number of major companies that have created their outpost in the vicinity of Washington D.C., including Amazon, IBM, Oracle, Microsoft, and Apple.
Washington, DC, has emerged as a highly coveted destination for businesses from all corners of the United States, owing to its advantageous geographical location and access to federal contracts. Its thriving economy has witnessed a remarkable parallelism between job growth and salary appreciation: the tech industry experienced a 10% job escalation during 2023 to 2024, accompanied by a 10.5% surge in average pay.
It is manifest that the burgeoning information technology industry in North America presents myriad perks to enterprises seeking a new center of operations. Besides, those seeking avant-garde IT assistance are not limited to Silicon Valley as there are abundant thriving and cutting-edge technology hotspots dispersed all over the continent.