Huntsville ranks in top five for Southern metro tech development
An interesting trend nationwide has once again brought Huntsville, Alabama into the spotlight.
According to research from CommercialCafe.com, a leading national commercial real estate blog, the nation is currently experiencing somewhat of a “decentralization” of traditional tech hubs. What this means is that, for tech-related jobs, the industry is experiencing a major shift from typical metro locations, such as San Francisco and San Jose, California.
Research from BestColleges.com shows that, although the industry took major loses in 2020 due to the COVID-19 pandemic, tech positions remain in relatively high demand, increasing by 13% between 2020-2023. Since 2022, employers have posted around 1.6 million tech-related job positions nationwide, which represents a whopping 40% increase from the previous year.
Even more interesting, however, is that the tech field seems to be expanding into Southern metropolitan areas faster than ever before. Locations, such as Austin, Texas or Raleigh, North Carolina, have experienced a massive growth in both tech jobs and companies relocating or expanding to Southern metros.
Among this list of growing cities, Huntsville, Alabama ranked 3rd in the South, outpacing the likes of Atlanta, Georgia, Houston, Texas, and even Savanna, Georgia.
According to CommericalCafe.com, Huntsville ranked 2nd overall for tech employment growth between 2017-2021 with an incredible 53.4%. Huntsville did outrank Austin, Texas, which placed 2nd overall on the list, in the tech employment destiny category. CommercialCafe explained what the term employment destiny meant.
“Professionals on the lookout for tech jobs can expect to find a good match for their skillset given Huntsville’s share of 77 out of every 1,000 jobs being in the tech industry,” noted the article.
Huntsville also ranked 4th overall in pay, with tech job earnings averaging around $102,545 per year. Finally, to cap off the high ranking, the city also ranked top of the list in quality of life due to its current low employment rate of 1.8% and relative low cost to live, which are both the lowest in the region.
To accumulate this data and rank these metros, CommercialCafe.com relied on metrics from nine different categories, which included the concentration of tech establishments at the metro level, the percentage of tech jobs, the median income of tech workers and a composite life-quality index.
While this new accolade is a major accomplishment, it is a just a small splash in the pond of the recent growth that Huntsville has experienced over the past three years.
For more information, please visit www.commercialcafe.com.