Posted By: Christine
When most people think about technology hubs in America, New York City and the Silicon Valley come to mind. However, those aren’t the only high-tech locations in the United States, and Atlanta is quickly putting itself on the map as their tech industry continues to grow and flourish. Tech experts are now saying that if you’re looking for a tech job or startup, the east side of the country could provide some excellent opportunities.
Atlanta’s Economy Is UpAtlanta is actually the eighth-largest economy in the country, and their strong connection to technology is one of the prime reasons they’re flourishing. Atlanta is currently ranked in the top 4 when it comes to high-tech jobs, and the top 10 for tech industry growth.
In the past five years, the technology industry has grown 21 percent, and the talent growth rate is at 21.2 percent – making it the sixth fastest growing market in the nation. On top of it all, the cost of living is below average, as well as the cost of renting an office space. This is one of the prime reasons that thousands are flocking to Georgia, looking to find great tech jobs or launch their own startup businesses.
The Game Is Changing for Tech InvestorsJust a few years ago, Atlanta wanted to see more technology opportunities in their city, but the economy and difficult processing for new businesses made things very difficult. However, an influx of angel investors and a growing economy has transformed everything. Those opening businesses can now focus on what’s most important, while forgetting about trivial issues.
Silicon Valley still has several key advantages over Atlanta, namely easy capital and one of the largest networks of technology entrepreneurs in the world. But many of the investors and tech companies are now looking at Atlanta for its potential growth.
Atlanta Is Becoming More Tech FriendlyThe city of Atlanta has obviously recognized their technology growth potential, and for that reason, they’ve enacted a number of expansion maneuvers in order to make the technology sector of their city a little more inviting and competitive.
The city government is offering a $15 million tax incentive to the developer of Georgia Tech’s Technology Square. According to a public document detailing the incentive, “The Project will strengthen Atlanta and Technology Square’s role as a global leader in promoting technology-based commerce, serving to foster collaboration between private industry and interdisciplinary research.”
This new development is a 25-story building with multiple departments. It’s meant to locate rotating “research neighborhoods,” and bring them into the fold. It will primarily target companies who work with big data technologies and can receive mutual benefits from participating in various studies. This incredible new research center will make it possible for new ideas to enter the market and flourish, right there in Atlanta’s metro area.
Atlanta may not hold a candle to what Silicon Valley has to offer just yet, but they’ve taken some important steps in making that a possibility for the already booming economy. If the tech industry continues to grow at this rapid pace, the United States could be calling Atlanta the “East Coast Silicon Valley.”