Silicon Valley in California has long been considered the pot of gold at the end of the rainbow for technology companies. However, there has been a change happening in this view and this change is older than many people think. There has been a significant electronics industry around Boston in Massachusetts for a very long time. That area was the home of the minicomputer. The minicomputer heralded the start of the age of very powerful computer systems that were comparatively modest in size. The like of Ken Olsen and Edson de Castro were front runners in the the industry. Why was this? That reason is easy. It is called Massachusetts Institute of Technology (MIT). The graduates of MIT started close to home.The same is true of Silicon Valley. Their alma mater is Stanford University. Cambridge University in the UK has a very healthy electronics industry growing up around it.
Silicon Valley has its problems. The first and most inescapable is the cost of living there. Land values in the surrounding suburban neighborhoods have escalated to stellar levels. The second is the cost of doing business there, partly fuelled by the first reason, but business land values have also risen dramatically as the area runs out of room. Taxes are high in California as the state has one of the most comprehensive benefit entitlement systems in the whole country. Zoning regulations are very strict and the ensuing cost of consultancy and inspections all add fuel to the fire.
So here comes Austin, Texas, a booming tech city. But why Austin? Austin is one of the most populated cities in America, it is also one of the largest state capitals. It has a large concentration of highly motivated people who want to get on in life. Texans are renowned for this character trait. They are ambitious, hard working and adaptable.
When looking at Silicon Valley and others it was found that every technological center had a university at its core. Not any university but one with a reputation for producing graduates of the highest caliber. Austin has the University of Texas at Austin to provide this function. This university is taking the bull by the horns, Texans so love to do that, in providing advanced computing resources at the university campus, Stampede2 is the largest supercomputer on any campus in the USA.
This means two things. First, there is a way for talented students to be on the front end of supercomputer design and technology, and second is the facility it gives for research into other areas of study both inside and outside technology. The university has the ability to produce extremely high-grade graduates from both inside and outside Texas as many students will want to participate in this revolution and the entry standards will be extremely high. The students from Texas will want to stay there and the visiting students will grow to love the lifestyle and low taxes of this very hospitable area.
This boom in white collar opportunities also leads way for a huge service industry within the city. Given the higher than average income levels in Austin, people tend to have more money for discretionary spending. Professional industries such as legal services, medical spas, salons, cosmetic clinics and other high-end offerings are in high demand throughout Austin.
The state government has joined the party and is creating a variety of means by which start ups can obtain the necessary high levels of funding for hi-tech operations and the city itself is creating dedicated spaces for industries of this kind to feel at home. Many start-ups and veteran companies alike are seeing the benefits of operating in Austin, and the job opportunities are manifold. All in all Austin Texas: A Booming Tech City has arrived.