Tech hubs Austin, Denver, and Seattle have the strongest outlook for STEM job growth, according to RCLCO Real Estate Consulting’s STEMdex.
The index, which RCLCO has published since 2016, analyzes cities based on four types of factors: STEM trends (i.e., population metrics, wages), workforce quality (educational attainment), quality of life, and business climate.
Raleigh, Washington DC, San Francisco, Portland, San Jose, Boston, and Dallas round out the top 10. Richmond, VA, was the only new entrant on this year’s list.
Dan Terpening, Chief Investment Officer of CapRidge, commented: “The Tech industry has been the key driver for STEM jobs and local economies the past decade, but over the past 12-18 months that sector has slowed with company share prices down and hiring freezes being commonplace. Yet, the importance of Science and Engineering has never been greater with the advance of Life and Biosciences, EV plants, robotics in manufacturing, plus the heightened attention on infrastructure. That is strengthening sectors such as life sciences, data centers, and industrial. Thus, STEM continues to propel the economies forward that prioritize these areas. The 2023 STEMdex represents cities that continue to thrive by recruiting the best and brightest talent available, with Austin leading the way.”