Workforce isn’t the only consideration, but it’s a top consideration October 6, 2006Posted by Tom in Community, Economic Development, Technology, Workforce.
The Business Innovation Insider tells us that, despite what we may have heard about the “bust” that followed the 1990’s Internet boom, Silicon Valley is still the place to be. And why?
Web 2.0 companies from all over the country continue to migrate to Silicon Valley, attracted by the easy access to venture capital money as well as a pool of highly-skilled tech workers and seasoned Internet executives. Even if it means packing up an office and moving across the country, it appears to be worth it…
The blog post also shares a chart indicating that the high-tech average wage in Silicon Valley is $126,700. Compare that to the high-tech average wage in Massachusetts ($87,200) or Washington ($79,700), and it’s clear that certain businesses will pay a premium to enter the top tier employment markets.
I just need to keep this in mind as I keep reading article after article that reinforces my negative feelings about the unfortunate culture of cheap in the world of economic development. But I have to wonder – Is this article an outlier (representing just the information technology industry), or is this perhaps a larger recognition of the value of the expert workforce residing in Silicon Valley? And, by extension, do other industries locate in given regions for their expert populations?