News & Rankings

Raleigh Named a Top Ten Software Hotspot

Cisco 3

Forbes released a report on America's top 10 software hotspot based on a study conducted by BW Research Partnership for the San Diego Regional Economic Development Corporation. Raleigh ranked in at number 5. The rankings are based on eight metrics, divided into four categories: 

  • Concentration, which is the number of software developers per 1,000 workers in the metro area
  • Prosperity, as measured by the regional price parity-adjusted average salary for developers in the area, the growth of wages from 2010-14, and job growth over the same span
  • Talent based on the number computer science degrees awarded per 10,000 workers, the percentage of the over-25 population with computer or math degrees, and the replacement rate of IT degree holders in 2014
  • The amount of Venture Capital Investment per employee in 2015. 
When it came to the number breakdown in Raleigh the numbers were as follows: 
  • Concentration (No. 6): 21.7 software developers per 1,000 employees
  • Prosperity: $97,325 avg. wage, 2014 (adjusted by regional price parity)
  • Talent (No. 2): 1.97% of 25+ population holds computer or math degree
  • Capital: $175.03 in VC investment per employee, 2015
Forbes notes that areas that are having the most tech growth are not just traditional tech hubs, the critical advantages to these areas is that they have both a high concentration of tech jobs and rapid growth. Raleigh was noted as one of these cities that may be best positioned to advance in the coming years. 
Read the full Forbes story here.


There are no comments yet.

Leave a Comment