Boston's dynamic tech landscape
With Boston high-tech employment doubling in the past ten years, the sector has become a significant driver behind the Metro Boston economy. Like other gateway cities, Boston has seen an increased concentration of tech talent in and around its urban core. In fact, when compared to the rest of the nation, Boston has the second highest concentration of both millennials and STEM talent within 10 miles of its city center.
More compelling to the Boston story is the fact that talent not only lives in the city, but they’re increasingly working there too. Since 2012, Boston has seen its number of tech establishments boom with 521 more companies coming to the city’s core in 2017. “Boston’s tech story is one of increasing urbanization,” Research Manager Mark Bruso reflected. “Not only of companies, but of its young and technical talent.”
Boston is not without its challenges, however, when it comes to remaining a tech hub. With available premier space in the city dwindling, tech companies looking to Boston will have to find unique ways to position their space above their competitors. Additionally, these companies will face fierce competition for talent from established companies as well as Greater Boston’s growing startup community.
Fortunately, due to Boston’s leveraging of its talent, institutions and capital, Mark feels it’s still well positioned for continual rise within the tech industry. “More so than ever before, Boston’s millennials and tech talent are huddled around Boston’s core,” Mark explained. “They’re near not only their places of work, but adjacent to all the amenities and cultural attractions that make Boston one of the most livable cities in the world.”
Check out our full Boston Tech Landscape for more insights into the Boston tech story.