The East and West coasts have long held the titles of tech giants, with Silicon Valley and Boston reigning supreme. But a number of land-locked markets may surprise investors when it comes to stability and strong returns.
Minneapolis, Dallas, Madison, Phoenix and Detroit have little in common but for one very important thing: they all found a spot among the country’s Top 20 resilient markets for tech investment, according to JLL’s U.S. Technology Outlook. The ranking reflects an analysis of factors such as job and wage growth, the size of the tech labor pool, the amount of venture capital funding, the number of patents and office price per-square-foot.
The tech sector plays a major role in a market’s investment appeal and JLL identified which markets are the most resilient for long-term technology industry stability. Each of these five markets garners tech activity in its own right, spawning from innovation across diverse industries, strong talent pools, and favorable real estate and employee costs that will encourage industry expansion into the future. Investors find their lower investment costs and strong industry opportunities very appealing.