The economic fate of U.S. cities may be tied to their “digital score,” according to a study by the Brookings Institution, as published in the January 2018 issue of Fortune magazine. The study revealed the growing “digital gap” between cities with numerous high-tech employment opportunities, and those with fewer ways to attract young, well-educated workers.
The study offers good news for the Boston Metro. Boston holds the second-highest digital score in the nation, just behind the top-ranked San Jose area. Third place goes to Austin, with Hartford and Salt Lake City rounding out the top five.
Most major U.S. cities have a digital score somewhere in the middle, due to the growing use of technology in a variety of industries. Mid-digital markets include places like Seattle, New York, Chicago, Dallas and Phoenix. Lower-ranked cities include Bakersfield, Las Vegas, Detroit, Indianapolis and Portland.
Over the past fifteen years, the “have” cities in the upper strata of the tech curve, have been pulling farther ahead from the “have-not” cities. This is because venture capital is following cities that have been the proving grounds for past innovations. Business startups and entrepreneurs follow the money, heading for the same locations.
And while high-tech employment can be found virtually anywhere, the very best-paying jobs are in cities with larger concentrations of technology companies. The ongoing consolidation of tech talent, venture capital and technology companies is a growing advantage for Boston!
The Boston Metro holds excellent opportunities for business owners and investors! When you are ready to begin, relocate or expand your business, or invest in commercial real estate, team up with the Jay Nuss Realty Group, LLC!