The countdown continues for cities demonstrating their penchant for attracting top STEM talents, along with the stocks that call them home…
A number of the regions that make up Bloomberg’s top 10 this year may come as a bit of a surprise to the masses.
Most of us tend to associate anything related to science, technology, engineering, and mathematics (STEM) with just one place: Silicon Valley.
But in truth, the majority of the other cities have also established themselves over the years as budding hubs for innovation.
Here are the top 5:
5) Washington-Arlington-Alexandria, DC/VA/MD/WV
2013 STEM Pay: $96,627
Increase in STEM Pay: $11,017
% Increase in STEM Pay: 12.9%
2013 STEM total employment: 283,860
Change in STEM employment: 13,020
% Change in STEM employment: 4.8%
DC officials have long tried to make their district a gathering place for the STEM community.
Designated tech parks and tax breaks were just some of incentives that were implemented over the past few decades, but only in recent times has there been any major uptake by STEM businesses other than those in the defense core.
Earlier this year, DC announced the development of the “Digital DC Tech Corridor” in Petworth, along with the creation of a tech fund that would offer venture capital to startups.
Arlington, VA has the highest concentration of STEM workers in the DC area, and is home to Virginia Tech’s renowned Research Center.
Notable Stocks: Northrop Grumman (NYSE:NOC), Lockheed Martin (NYSE:LMT), General Dynamics (NYSE:GD), Computer Sciences Corp (NYSE:CSC)
4) San Francisco-San Mateo-Redwood City, CA/strong>
2013 STEM Pay: $98,117
Increase in STEM Pay: $11,602
% Increase in STEM Pay: 13.4%
2013 STEM total employment: 109,670
Change in STEM employment: 19,610
% Change in STEM employment: 21.8%
The Bay-Area portion of Silicon Valley is the home base for many of the world’s largest STEM companies, as well as the launch pad for thousands of startups.
The entire region of Silicon Valley accounts for one-third of all of the venture capital investment in the US.
Although it’s still a hotbed for STEM companies, it’s seen a dip in overall job creation over the last decade compared to other cities on the list.
Notable Stocks: Hewlett-Packard (NYSE:HPQ), McKesson Corp (NYSE:MCK), Facebook Inc. (NASDAQ:FB), Twitter Inc. (NYSE:TWTR), Salesforce.com (NYSE:CRM)
3) San Jose-Sunnyvale-Santa Clara, CA
2013 STEM Pay: $109,615
Increase in STEM Pay: $12,129
% Increase in STEM Pay: 12.4%
2013 STEM total employment: 160,960
Change in STEM employment: 9,470
% Change in STEM employment: 6.3%
The lower half of Silicon Valley appears to be doing slightly better both in terms of employment numbers and pay. Over 6,600 tech companies are anchored here.
Job growth may be down, but record profits from the Valley’s biggest firms could easily lead to more job openings in the near future.
Clean tech innovation and biosciences are big growth areas for the Santa Clara region, each currently employing tens of thousands of workers, thanks largely to San Jose’s Green Vision plan that was implemented in 2007.
Notable Stocks: Google Inc. (NASDAQ:GOOGL), Intel Corporation (NASDAQ:INTC), Apple Inc. (NASDAQ:AAPL), Cisco Systems (NASDAQ:CSCO), eBay Inc. (NASDAQ:EBAY)
2) Houston-Sugar Land-Baytown, TX
2013 STEM Pay: $84,128
Increase in STEM Pay: $13,017
% Increase in STEM Pay: 18.3%
2013 STEM total employment: 195,540
Change in STEM employment: 12,750
% Change in STEM employment: 7.0%
Houston has been synonymous with aerospace and energy for decades, so it should come as no surprise that the region is always on the cutting edge of technology.
And from being selected to host Microsoft’s Worldwide Partner Conference in 2013 to opening one of the country’s top technology incubators, Houston continues to prove itself as a bona fide tech hub.
The Houston Technology Center was recently named to Forbes’ ‘Top Ten Incubators Changing the World’ and at 50,000 sf, is the largest incubator and accelerator in Texas.
Major oil & gas companies all have corporate offices here, including Shell Oil Company, which happens to have a massive, 1-million sf R&D laboratory right in the heart of the city.
Notable Stocks: Fluor Corp. (NYSE:FLR), Baker Hughes (NYSE:BHI), KBR Inc. (NYSE:KBR), Phillips 66 (NYSE:PSX), ConocoPhillips (NYSE:COP)
1) Seattle-Bellevue-Everett, WA
2013 STEM Pay: $94,450
Increase in STEM Pay: $14,930
% Increase in STEM Pay: 18.8%
2013 STEM total employment: 184,570
Change in STEM employment: 21,080
% Change in STEM employment: 12.9%
Much like their beloved Seattle Seahawks, the Emerald City doesn’t get nearly as much love in the STEM scene as it rightfully deserves.
It often gets overlooked by the likes of Boston and New York, yet it’s where some of the biggest names in technology are headquartered.
With its melting pot of diversity and STEM talents, it also hosts a growing stable of engineering centers sprouting from Silicon Valley titans such as Facebook, Hulu, Zynga, and Google.
While the northwest may not have its cache of smaller, well-known startups compared its eastern counterparts, Seattle certainly makes the case for being one of the fastest-growing hubs for STEM jobs, and that suits them just fine.
Notable Stocks: Amazon.com (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Expedia Inc. (NASDAQ:EXPE), F5 Networks (NASDAQ:FFIV), RealNetworks Inc. (NASDAQ:RNWK)
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