The Next Silicon Valley

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The Next Silicon Valley
The future of America’s economy lies in the high-tech sector. Technology-based companies' high growth rate has made the US a center of innovation. The high-tech industry is promising, considering the wealth it has created for America. It has also produced numerous employment opportunities for the citizens. A close examination of the high-tech sector reveals that most of the leading companies are located in metropolitan areas like Silicon Valley Research Triangle Park and Seattle. These areas have seen a massive growth of technology companies which has spurred a lot of interest in what these areas have done to facilitate the high-tech ecosystem. This discussion demonstrates the three metropolitan areas centers of technology and other cities can emerge as high-tech centers.
Silicon Valley, Research Triangle Park, and Seattle have created a high-tech ecosystem in various ways. Firstly, the areas offer relatively lower taxes to technology companies. Since the taxes are much lower in the particular areas, technology companies flood to the regions to take advantage of the provision. Low taxes reduce the cost of operations and enable businesses to accelerate their growth. Secondly, the universities around offer talented employees. For instance, Stanford University is located in Silicon Valley and is known to produce highly qualified graduates. Similarly, New York City, Brooklyn, and Long Island City have universities producing technology graduates. For instance, New York City has 240 universities and colleges, making it possible to supply the companies with with the required workforce. Long Island City has more than 20 universities and colleges. These institutions produce a workforce that tech companies need to hire. Thirdly the, real estate is developed in these areas. The advancement of the real estate sector has been critical in housing the big technology companies. The commercial buildings that the technology companies occupy are highly amenitized with features that make it convenient for tech workers to perform better. The presence of amenities improves the quality of life for the tech workers who stay around these areas. For instance, Brooklyn has become an attractive place where individuals can live and work. The presence of amenities has attracted tech companies to put down their roots in the area....