30 Sep Portland Continues to Excel In Tech-Sector Job Growth
Over the better part of the last decade, Portland’s tech sector job growth has been remarkable. This growth has been driven by many factors, key among which is the fact that the environment has been very conducive to tech industry needs.
Some of these drivers include a good talent pool for the technology sector, great wages for tech industry workers, and reasonable living costs for the residents.
Portand’s fostering creative community is ideal for innovative minds. For this reason Portland also offers an excellent environment for startups. Combine a creative environment with an affordable city, running a young company is comparatively easier than other tech centric cities such as San Francisco and neighbouring Seattle.
With this enticing blend of factors, many tech companies have chosen to either launch in Portland or expand there. Today, there are hundreds of tech companies in Portland. This translates into significant industry-based jobs, which is why the region’s economy continues to excel.
A study conducted earlier in the year by IHS Markit found that for every 100 jobs currently available Portland, 135 more are created. For the most part, these jobs are spread across major IT sectors such as software development, semiconductor manufacturing, telecommunications, computer training and so forth.
Because of global corporate behemoths like Intel, the semiconductor manufacturing industry in Oregon is accountable for 48% of market share in that particular industry vertical. But other sectors are making their mark as well, software development being the second most important vertical.
About 80,000 people are actively employed in the tech industry in Portland. And the industry’s financial output in the state was $24.4 billion. Not surprisingly, the tech industry in Portland has a considerably greater impact on the local economy than in other states.
Today, the Portland tech industry has grown to the point where its effects are felt far beyond the state. Many people seeking to advance their careers are often moving to Portland. Fortunately for them, opportunities exist in Portland for tech sector workers who harbor such ambitions.
Therefore as a magnet for top talent in the tech sector, Portland’s job market will continue to grow and excel.
At the moment, the state is at par with other major technology hubs in the country with regard to its ability to draw tech-industry talent, and the trends mostly likely will continue to grow.
Combine high industry wages with an affordable cost of living, and unbeatable city amenities, Portland is surely an attractive city for the both startups and high-tech.