Silicon Valley was the Holy Grail for tech entrepreneurs. With the explosive cost of living, median home prices close to $1 million, and traffic that sees people spend 67 hours a year in their car just getting to and from work, the Valley is, for the first time, seeing more American workers move out than in.
The Wall Street Journal reports on the exodus of Americans for greener grass and cheaper housing. And while the focus is on the attractiveness of Seattle and Austin, the Dallas/Fort Worth area has been exploding in popularity among those in the tech industry.
DFW offers all of the basics: good schools, affordable housing, walkable communities and 90 miles of light rail. There are more than 20 Fortune 500 companies here, and with 40 colleges and universities, some 300,000 students that call the region home. DFW has 7 million consumers and 20 billionaires, including Mark Cuban, who is also a supporter of the entrepreneur ecosystem.
The sense of community throughout DFW is electric, the sharing economy is booming, the startup community is flourishing, and the various government structures are supporting, not hindering, growth and development. DFW is attracting more than just those from Silicon Valley, but also from Austin, New York City, Boston, and every major hub of technology with a high cost of living. Coworking spaces are abundant, and with a dozen accelerators, various coding schools, as well as the universities and colleges close by, there are tech-related events all the time, along with any support mechanism imaginable.
There are also many well-known companies that call this area home. IBM, Microsoft, American Airlines, Google, Sabre and Exxon Mobile all are located in the region, along with major names in venture/angel investing like Naya Ventures, Hangar Ventures, Deep Space Ventures, Trailblazer, and 2M. If your product or service is worth the investment, finding money will not be difficult.
Dallas and Fort Worth have often been overlooked for Austin, but with the low cost of living, walkable towns and cities, good public transport, affordable housing, and quality schools the region, the are is more attractive than ever for anyone seeking a future in technology.
Blog post by: Harmony Tapper