Successful tech hubs leave urban rivals behind

December 27, 2017 by  

Recent research has highlighted the widening economic gap between cities in the United States.

While affluent cities like Seattle have surged forward since the Great Recession, parts of the nation have not kept up, and regional inequality has been boosted by an uneven economic recovery.

However, Portland is a tech hub that has done remarkably well, recording an impressive income gain. Brochure printing is often used to market places of such prosperity.

Urban areas like Portland have thrived for a variety of reasons; being future-oriented is often a competitive advantage, and Portland is blessed with plenty of cloud computing engineers, data analysts, and software architects. This is partly because highly educated workers like to share communities. The exchange of ideas is enabled in tech clusters, which leads to efficient performance.

There is a degree of specialization going on. Academics Daniel Shoag and Peter Ganong have indicated that higher property prices are having a big impact on where skilled employees live. This trend has divided the nation in terms of wealth.

Shoag and Ganong stated:

“Skilled workers move to high cost, high productivity areas, and unskilled workers move out.”

The recovery has not helped all industries to the same extent. While the knowledge-based economy has kicked on after the financial crisis, the retail, mining, and manufacturing sectors have found momentum to be elusive.

Comments