When investors and people in tech think of the hottest tech hubs of the U.S., cities such as Boston (or more precisely, Cambridge, Massachusetts), Raleigh, Dallas, Seattle, San Diego and Minneapolis often come to mind immediately.
At Bridgeford LLC, we may be a bit biased as we’re based in the Atlanta area, but we believe Atlanta deserves to be as top of mind as those more well-known, established tech hubs.
Tech firms are launching, developing and succeeding at an astonishing rate in the Atlanta area. As of this writing the Atlanta area – particularly the suburb of Alpharetta – is home to more than 700 tech companies. Consider the most recent statistics:
- More than 260,000 workers – more than 9 percent of the region’s total workforce – are employed by tech companies.
- The net tech employment in the Atlanta area grew by 3.2 percent from 2018 to 2019. And that growth continued during 2020 despite the devastation brought by the Covid-19 pandemic.
- The state of Georgia features the tenth most technology jobs in the U.S., with the vast majority of those jobs being located in the greater Atlanta metropolitan area.
- Alpharetta alone is home to 20 biotech/pharma companies and more than 100 software development firms.
- More than 50 health IT/medtech companies are located in Alpharetta.
Alpharetta and Atlanta foster the growth of tech companies and startups, with incubators such as Tech Alpharetta, Digital Ignition and several others offering early-stage startups tech-oriented work space at low cost. Also feeding the tech trend in the area is the presence of universities, such as Georgia Tech and the University of Georgia (in nearby Athens), offering highly-ranked technology-related programs.
Those factors along with Atlanta’s relatively reasonable cost of living, tax rates that are lower than those of other tech hubs such as San Diego and Boston, the presence of an international airport and a business-friendly environment have without a doubt contributed to the area’s tech boom, which includes a broad expanse of technologies ranging from IT and engineering to pharma and medical device development.
So while Atlanta and Alpharetta may not get the attention – yet – that other tech hubs have gotten, we believe it’s only a matter of time. In the meantime, we believe entrepreneurs and venture capital investors would be wise to learn more about our area.
Contact us today to learn more.