Is Massachusetts the Next Silicon Valley?

Monday, June 15, 2015

GoLocalWorcester News Team and FindtheBest

Over the past couple of decades, the San Francisco Bay Area has been the tech mecca of the country. It’s the shiny, silicon haven where the nerds are the cool kids and where artisanal coffee is a main food group; where there are more startups than gyms and everyone seems to be living far in the future.

SEE BELOW: The Top 5 Tech Hubs in Massachusetts

But this flood of entrepreneurial hopefuls has brought with it a surge of sky-high housing costs and a lack of space. Those looking to start a company are already using all of their resources to make sure their venture is a success. But how can they take such a risk if they’re paying upwards of $4,000 a month for a two-bedroom apartment?

As it turns out, there are other areas of the country—including some in Massachusetts—where more tech companies and venture capital firms are popping up every year. These dark horses may be poised to become the next silicon superpowers.

To determine the next tech hot spots in the state, FindTheHome created a Tech Rating. This formula factors in total tech companies and employees per capita, as well as the "tech ecosystem" of the area-the variety of those employees and companies.

For example, a city with a broad range (an "ecosystem") of tech industries—from computer programming services to venture capital firms to application development—received a higher score than cities with companies from just one or two tech industries. The data is provided by FindTheCompany and Dun & Bradstreet.

Tech Hubs in Massachusetts | FindTheHome

The Top 5 Tech Hubs in Massachusetts

5. Worcester County takes 5th with a tech score of 84.5, which is made up of the following components: Industry Density: 11.2 tech companies per 10k residents Tech Employees Per Capita: 80.6 Tech Ecosystem Score: 81.1 Worcester County Overview | FindTheHome 4. Essex County takes 4th with a tech score of 85.1, which is made up of the following component scores: Industry Density: 13.7 tech companies per 10k residents Tech Employees Per Capita: 81.0 Tech Ecosystem Score: 82.1 Essex County Overview | FindTheHome 3. Norfolk County takes 3rd with a tech score of 86.2, which is made up of the following component scores: Industry Density: 16.9 tech companies per 10k residents Tech Employees Per Capita: 82.5 Tech Ecosystem Score: 83.2 Norfolk County Overview | FindTheHome 2. Suffolk County takes 2nd place with a tech score of 88.2, which is made up of the following component scores: Industry Density: 17.5 tech companies per 10k residents Tech Employees Per Capita: 88.6 Tech Ecosystem Score: 85.8 Suffolk County Overview | FindTheHome 1. Middlesex County takes 1st place with a tech score of 91.6, which is made up of the following component scores: Industry Density: 33.5 tech companies per 10k residents Tech Employees Per Capita: 89.8 Tech Ecosystem Score: 89.3 Middlesex County Overview | FindTheHome