Southwest, that is. Places like Texas.
The 80-mile Texas corridor from Austin to San Antonio has become a new hot spot for IT job growth. The technology sector can boast that it is responsible for one in eight jobs in Austin, accounting for one-quarter of the area’s payroll. And experts expect to see at least 9,000 new technology jobs in the Austin area by 2017.
Okay, it isn’t the East or West Coast, but the newly dubbed Silicon Hills has its own attractions. For one thing, the area is pretty much free of earthquakes, floods, and hurricanes. The weather moving in from the Gulf is usually short-lived, according to one local tech CEO. And the average daily temperature ranges from 84.8 in August to 48.8 in January. Austin’s cultural and music scene has become a real attraction for both college students and retirees.
Of course, salaries in Texas are lower than those on either coast. In 2014, base pay plus bonuses for IT workers averaged $125,829 in San Jose and $131,624 in Boston. In the Southwest, Austin led at $105,799, putting it 20% below Boston and 16% below San Jose. But the cost of living in the Austin area is far lower than either coastal city. According to calculations from the Census Bureau, the cost of housing in the Southwest can be as little as one-third of that in the major technology centers on either coast.
Security, cloud technology, semiconductor design, mobile apps and devices, and biotech equipment lead the technology sector jobs in the Austin area. Many of these jobs allow workers to operate remotely, although relocation to the area is steady and growing, thanks in no small part to the low tax rate. There is no personal or corporate income tax in Texas. Most revenue is derived from property tax and the relatively low 6.25% sales tax.
So if you’re looking for a good tech job in an area where you can find affordable housing, educational opportunities, and cultural attractions, you might want to give Austin a look see.