Dallas has garnered lots of attention in recent months thanks to its thriving tech industry and growing entrepreneurial spirit. Forbes and others are calling Dallas “the next Silicon Valley,” and this region does indeed bear many similarities to the famed California technology mecca—similarities that attract dozens of tech companies and Fortune 500 corporations to the Dallas-Fort Worth Metroplex region.
From Dallas mobile app developers to the latest and greatest microchip manufacturers, this area is no stranger to technological advancements. In fact, DFW is home to more than 43 percent of the state’s high-tech workers. This emphasis, combined with factors like a low cost of living and a growing population, create a city that could very well become the nation’s top tech center.
Why is Dallas the Next Silicon Valley?
When identifying the next Silicon Valley, Forbes considered a number of characteristics, focusing on traits present when Silicon Valley was evolving into the global tech center it is today. These features include:
- Comparatively low housing costs (relative to the income level);
- A high number of tech industry jobs, combined with a low unemployment rate;
- A median tech salary that exceeds the nationwide median figure;
- A sizable number of large or well-established tech companies; and
- Lots of available venture capital funding and incubator programs for tech entrepreneurs who are getting established.
These conditions are all favorable factors for Dallas, which MarketWatch named the nation’s most business-friendly city in 2014. In addition, the city was named the “best place to start a business” in 2015 due, in part, to its low permit fees and relatively lax regulatory environment. Texas also has one of the nation’s lowest tax rates for business, while there is no personal income tax for residents.
The Dallas-Fort Worth Metroplex boasts some other encouraging stats:
- A favorable Urban Land Institute (ULI) Affordability Index of 184.91;
- A comparatively low median real estate price of $197,000;
- A thriving “Top 5” real estate market, according to the ULI report;
- A job growth rate of 4.1 percent—currently, one of the nation’s highest.
These stats indicate that Dallas offers many opportunities to buy a home and secure a well-paying job that’s in line with the local cost of living. The area also has a thriving investment and real estate development sector which drives business growth.
Texas is Home to Other Emerging Tech Hubs
Dallas isn’t the only high-tech hotbed in Texas, as Austin has also been identified as an up-and-coming Silicon Valley. Austin was ranked number one in the CNBC Metro 20: America’s Best Places to Start a Business, with a growing population, a favorable regulatory climate, a low cost of living, a plentiful labor force and a high proportion of successful start-ups.
According to a survey of Silicon Valley tech workers looking for jobs outside the Bay Area, Austin was their number two destination, only behind New York City. Dallas and Houston were also on the list, sitting at positions seven and five, respectively.
Austin is known as a city with a thriving cultural community and a growing tech sector, and this is partly why SevenTablets opened a regional office there. Besides Austin, we currently maintain offices in two other key Texas Triangle cities, Dallas and Houston. A large portion of our clientele is based in this area, so they enjoy the benefits of working with a local mobile app development company.
By choosing a mobile app developer in an emerging tech center, you’ll have more opportunities to leverage and integrate cutting-edge technology. A Silicon Valley-type environment is conducive to innovation, invention and creativity in a way that drives high-tech evolution and advancement.
At SevenTablets, we take pride in offering a client-centric process from start to finish, evaluating your unique goals and needs for your mobile app. We also reduce the timeframe and cost of development with our open source development platform, STAX. Our apps are equipped with military-grade encryption and high-level security features, providing peace of mind that your data and your app is secure. If you’re ready to get started, contact a top Dallas mobile app development company—SevenTablets.