In an annual ranking of 12 tech hubs recently announced by the Silicon Valley Leadership Group, Raleigh once again ranked #1 based on:
- low unemployment rates
- large % of people able to afford a median priced house
- little traffic congestion (20-30 minutes doesn't count NC residents!)
- eighth grade math achievement
- low electricity costs
- lower state tax rates
One of the reasons why Silicon Valley came in last (for the second year in a row) was the expense of the houses. It claimed that less than 15% of the houses are affordable to the median salary that folks make there. Locally, that number is 65.8%.
Don't get me wrong, we can't argue with the success of Silicon Valley - not to mention all the venture capital that gets pumped into that market each quarter. Last quarter was over $2 billion. But its nice to see the Raleigh area recognized for some of the advantages that are helping make this area successful.
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