The Intersection of Technology & Job Growth
Even as companies continue to navigate the pandemic, they still have a huge impact on the local economy and businesses in which they share zip codes. The technology sector contributes to economies in unique and powerful ways. Technology companies have been responsible for bolstering economic growth, generating innovation, and supplying the world with unparalleled thought leadership. The innovation brought forth from the tech sector has created a tremendous amount of opportunities as well as disruption.
According to Ponciano, “a record 184 technology companies claim a spot on 2019 Global 2000 a Forbes ranking of the world’s largest public companies and account for more than $9 trillion in market value, $4 trillion in assets and nearly $3 trillion in sales.” (Ponciano, 2019) The tech sector has the profitability to influence the way we engage as consumers and citizens.
Established technology companies such as Apple, Amazon, Microsoft, and Airbnb have established themselves in New York, San Francisco, Austin, and Atlanta. New start-ups continue to form, new technology hubs such as” Columbus (Ohio), St. Louis, Denver, Portland, and Philadelphia. There is a specific recipe for creating an ideal start-up environment.
Although Silicon Valley has been the home to the previous dot.com bubble during this technological revolution, many new cities have been added to the viable tech playgrounds. Cities like New York have been able to invest and support the growth of these tech companies. Many tech companies believe it’s fruitful to anchor themselves in environments where the talent is located.
How will this impact the new tech cities now that the famous rhetoric of success does not buckle down us is tied to a distinct location? Employees are now equipped with the freedom to secure a workplace that fits their own criteria, whether based on geography, taxes, housing prices, and any other statistics. Remote opportunities are now a necessary must-have in your wheelhouse of prospective employers. In a blink of an eye, the pandemic has moved us from adoption to adaption.
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