Seattle Area Tech Job Growth Surpasses Silicone Valley

A recent Forbes/Praxis Strategy Group study revealed that tech job growth in the Seattle area is surpassing Silicon Valley. According to the study, the Seattle area has experienced a 43 percent jump in high-tech employment since 2000 while Silicon Valley has seen a decrease.

Jobs in science, technology, engineering and mathematics are on the increase in Seattle with companies such as Microsoft, Amazon and Boeing driving much of the growth. Other tech companies such as Facebook and Google are also expanding their technology jobs in the Seattle area.

Could Seattle become the new Silicon Valley?

With such a large increase in tech jobs in the Seattle it’s possible that we could see Seattle transform into a second Silicon Valley. The presence of large tech companies in the area could attract more highly skilled workers and create major demographic shifts. This could be a good news for housing values and the economy overall. More tech jobs could mean there will be more Seattle area residents who have higher salaries and a greater capacity to purchase valuable real estate. This is a good thing during prosperous and recessionary economic times. The tech industry has been one of the few sectors that have held up well during this recession. Tech workers could help the greater Seattle area absorb REOs and foreclosures, and keep property values from experiencing major declines.

 

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