Location, Location, Location…Relocation?

On March 7, 2012, in Research, by Dr. S. Hadi

Stefanus HadiCalifornia’s Silicon Valley is the undisputed region in the world for high tech growth and innovation, with powerhouses that include Apple, Intel, Google, Facebook, Twitter, eBay, and many others located in the area.  Many cities around the world are developing their own regional technology hubs and trying to replicate the Silicon Valley formula for success.

Some examples: To take leadership in future green industries and the training of new talent, Cornell University proposed the New York City Tech Campus on Roosevelt Island late last year. With the 2012 Olympics to be held in London, Britain’s Prime Minister has announced plans to expand the Olympic Park of East London to be the next Tech City to challenge Silicon Valley.

As other cities around the globe develop their own tech centers, we are also seeing the trend of Silicon Valley companies opening up branches in other locations to attract more engineers and human capital, drawn in part with incentives (including tax incentives)  from different cities. For example, Google and Facebook recently announced their intentions to expand branches into New York City.

2011 survey relocationIn this climate of increased investment by cities in the development of regional technology centers and the down economy with high unemployment rates, relocation to these areas may be attractive option for those seeking career opportunities and for those looking to expand their businesses.

In a February 2011 survey we explored the topic of relocation as we were curious how the economy was affecting our customers. We asked our customers whether they agreed with this statement: “To expand business or career opportunities, I will relocate to another city.”

Of the 730 respondents from the U.S., 11% of DiscountASP.NET customers agreed with the statement. 12% of our 185 respondents from Europe agreed with the statement.

We are planning to ask the question again in the future to see how things may change.

Although it is possible to telecommute from anywhere in the world, there is still a very strong regional clustering of technology companies, which  concentrates wealth and talent and produces jobs. Being located in these technology hubs can also be beneficial when attempting to acquire funding for a startup.  Different regions around the world are competing to attract the high-tech industries of today and tomorrow.

Have you relocated for your career or business prospects? Or are you seriously considering relocation? What areas did you or are you thinking of relocating to?

 

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