Companies such as Meta, Apple, Amazon, and Microsoft have spurred a fast-growing industry in the United States to generate nearly 9.3% of the country's total GDP.
The technology sector is one of the largest industries in the world, not more in the United States. In 2021, it contributed about USD $1.8 trillion to the gross domestic product (GDP), or almost 9.3 % of the total GDP. This is because of a steady upward trend over the annual percentage of GDP that has been rising since 2018.
In fact, there are currently approximately 5.5 million technology workers in the USA, which means that the northern giant represents an important opportunity for industrialists who want to explore this sector. The question that arises at the beginning is where to develop, for example, a startup in the United States?
Silicon Valley, located in the Bay Area of California, is the most important and expensive tech hub in the U.S., with a talent pool working in this sector of almost 380,000 people.
Now let's take a look at this and all the other top tech hubs in the U.S. based on the number of talents working in this sector:
The most important technology centers have grown exponentially. Let's see:
If we analyze, the coastal cities are the ones that host more workforce in this sector. The one with the highest growth of talent in the last 5 years was Seattle with 32%, for a total of 189,570 people working in this industry, this, among other things, because it houses companies such as Amazon and Microsoft.
This means that the 4 cities with the highest projection for employment generation in the technology sector are: (percentage of employment concentration in this sector) Seattle, 9.9%; Bay Area 11.4%; Austin 7.9% and Washington D.C. with 8.8%.
It is worth noting that this distribution has been very positive for the industry, as talent is no longer concentrated in a single technology center, but rather more states are competing in this market that generates multi-million-dollar revenues. This has also been a result of the dynamics that the pandemic has brought about, as remote work has boosted this industry to the point of an upward trend.