Where and why leave the company from Silicon Valley

The exodus from Silicon Valley continues. Strategic planning expert Mark Emmer talks about why he and his wife left the region and where innovators are heading to put down new roots. Next - from the first person.

Фото: Depositphotos

My wife and I lived in Silicon Valley, but we fled from there exactly by the time it became irrational to live there - it was 1999, Emmer writes for INC.com. I recently found out the current value of the house we sold and briefly wished that we did.

The Economist reports that the average home in the San Francisco Bay Area costs $940—more than four times the national average. 46% of Bay Area residents plan to leave the area "in the next few years."

Ironically, tools created in Silicon Valley (for example, Slack) made it easier for people to work remotely and allow companies to start work outside urban areas where the cost of living is much lower. According to PitchBook, less expensive alternative cities, such as Seattle and San Diego, attract venture capital investments of more than 1 billion dollars a year.

Here are a few thriving cities where “techies” are moving:

Portland. Photo: Depositphotos

Portland, Oregon

The famous slogan of the city: "Save Portland strange." And it manages its inhabitants. According to VanderHouwen, the average local income increased by 20% in just two years, and the number of people under the age of 65 who moved to the city increased by 6% over 32 years. Growing startups include Vacasa and Urban Airship.

Seattle

The technical scene of Seattle extends far beyond Microsoft. After Amazon built an e-commerce empire there, other companies, including the Walmart e-commerce business, settled in this city, seeking to lure away all the local talents. Like San Francisco, Seattle suffers from an excess of homeless people and other social problems that often exist in areas where companies are trying to attract gifted employees.

Austin

"Silicon Hills," the nickname for Austin's cluster of high-tech companies, has been called the tech epicenter of Texas since Dell first opened its doors here in the 1980s. Innovators such as Apple, eBay, IBM and Intel have also established themselves in the area. Already known as the live music capital of the world, Austin doubles as a business capital and boasts tech startups like Tastemade, Chive Media Group, RetailMeNot, and a ton more.

Washington, DC

DC has become the cyber center of the United States, where businesses look for high-level security and protection. Education companies such as LexisNexis and Kaplan form the technological gateway in this district. Although it is not growing as fast as other technology-rich regions, about a third of the country's “digital” workforce lives here. Mayor Muriel Bowser sponsored The Lab @ DC to transform research into a valid rule system.

And here are the cities where the “digital” labor force has recently been accumulating:

Detroit. Photo: Depositphotos

Detroit

As leading US automakers are moving toward creating autonomous vehicles and are introducing more technology into their offerings, innovative laboratories are also expanding. Forbes predicts that the future development of mobility will attract even more technology leaders to the City of Motors, as more mobile devices are being launched here than in any other region.

Charlotte and Raleigh-Durham, North Carolina

Long considered the Research Triangle, the region is known for its brick buildings, universities and excellent golf courses. Raleigh-Durham is the epicenter of groundbreaking medical research, and university graduates tend to stay in the city, which is why the Triangle's universities are constantly churning out medical professionals and engineers. The Charlotte area was named the "Top Driver Market" in 2016 due to its tech growth rate of 74,7% over five years.

Huntsville, Alabama

The list of the fastest growing technoparks according to ZipRecruiter includes Huntsville, which since the beginning of 2017 has had more than 300% growth in technology jobs. SlateTech finances public-private partnerships to support economic growth in the area. Home to Boeing and Northrop Grumman, this city makes it possible to live much cheaper than many technological “hubs”, while still getting a higher average salary for technical work. Together, this creates fertile ground for the city to become a leader in technology.

Grand Rapids, MI

Grand Rapids has 17 universities and colleges, which provides a steady stream of STEM specialists (science, technology, engineering and mathematics). Like Huntsville, the city offers low housing costs, which can tempt both workers and employees of promising businesses. Grand Rapids has well-known companies: Meijer, Bissell, Spectrum Health, Amway Corporation and others.

Orlando, Florida

Home to Deloitte, AAA and JetBlue, Orlando is a tech startup hotspot. Nicknamed “The City Beautiful,” Orlando has access to capital (including venture capital from investors like FAN Fund and Inflexion Partners), no state income tax, and a rapidly growing talent pool. All this lures former residents of Silicon Valley to the east. The Tech Matching Grant Pilot Program is launching innovation in the region by providing support for citywide technology-focused events and programs.

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