Silicon Valley is known as the technology hub of the world being home to the world’s largest tech corporations and many aspiring startups. But with the recent economy, many have shifted their business outside of the Valley for cheaper and more practical locations. One such location is Portland, Oregon located hundreds of miles north of Silicon Valley where technology has played a vital role in the city’s economy.
Home to 1,200 technology companies, the Portland area has been dubbed Silicon Forest due to the abundance of trees in the area and in reference to Silicon Valley. Intel is the largest employer in the area and Google has recently opened an office there as well, further enhancing the appeal of Portland as a tech hub. There are many factors that are causing tech companies to favour Portland to base their businesses.
Low living cost
The main factor that contributes to any business move is cost and the living cost of Silicon Valley is more expensive today. Tech companies in Silicon Valley are still offering hundreds of jobs but housing is no longer affordable for workers today. Young professionals at the beginning of their careers find it impossible to keep themselves afloat and have chosen to migrate to regions that offer houses at reasonable prices.
Despite the number of jobs available in Silicon Valley, the competition is stiff and many workers find it difficult to stand out. Places that considered as emerging tech hubs are preferred due to the market potential that startups and professionals can venture into. Startups at such regions have no need to fear of giant corporations taking away their businesses and workers from fresh graduates to experts are more than welcomed.
Having a work-life balance is a goal of many workers today and Portland is one of the places that offers it. There is a growing number of workers who are now working from home, freeing them from many pressures of working on site. With cheaper housing, workers have many options to select their homes and most have a short commute to work.
Affordability and the attraction of gaining a balanced lifestyle have pushed many professionals to growing tech hubs. Regions such as the Portland area are now considered ideal places for entrepreneurs to set up business and for workers to find comfortable job opportunities and environments.