Technology was once something only the richest people in the world had access to but is now a part of nearly everyone’s daily life. Computers, cell phones, and apps are the source of connection all across the world. Since its start in 2022, the use of artificial intelligence has risen 750%. This level of demand and dependency has not only changed the way we connect, learn, and share, but is a significant part of the massive growth we’ve seen in the science, technology, engineering and mathematics industry, better known as STEM. Over 180,000 new STEM jobs have been created in the last year thanks to these advancements. With new apps and algorithms constantly changing, it can be difficult to keep up with all that is going on but there’s a trusted source that does all the foot work for you. The RCLCO is a real estate consulting firm that was established in 2016. They use quantitative analytics to form strategic and tactical guidance with property investment, planning, and development. One of their most notable branches of research is in their annual review of job markets throughout major U.S metropolitan areas which are ranked on their public growth index sheet called the STEMdex. This year, two Texas cities made their list for growing stem jobs. Dallas, Texas came in high, ranking at #11 out of 20 in the United States. Austin, TX trailblazed at the top of the chart at #1 for the third year in a row.
The STEMdex Standard
The STEMdex shows how cities have placed in their ranking for STEM growth, some may question what type of protocols are being aligned for cities to make the list? It is a more complex process than most may assume. STEMdex follows trends and progressions in the STEM industry in every major metropolitan area of the United States, then predicts projections for the upcoming year. There are 24 factors the RCLCO consider before a city makes their list, including the city’s economic trends, tax environments, business climate, workforce quality, and even their quality of life. Much of their research comes through strategic partnerships that provide useful, relevant data. Some of those agencies include the U.S Census Bureau, the Bureau of Labor Statistics, Oxford Economics, Numbeo, The Tax Foundation, Costar and the Federal Aviation Administration.
Dallas, Texas has one of the largest hubs of STEM education in the U.S. The Dallas College STEM Institute is just one of
a school that is dedicated to preparing students in computer science, engineering, construction, biology, information technology, mechanical engineering, neuroscience and much more. 28% of the STEM workforce in Dallas are women, which shows a major shift in what was once a male-dominated industry. A few big tech. companies with establish locations include Capital One, Brilliant Earth, Vivid Seats, Snap Inc. (snapchat), Crunchyroll, AT&T, and Intuit. The U.S Bureau of Labor Statistics predicts that STEM job growth will be a minimum of 3% higher than other regions. According to data by DOIT Software, 7,693 tech companies are based in Austin, Texas. Some major companies that have made Austin an extension to their homeland headquarters include Apple, Google, Canva, Dell, Meta, Space X, Oracle, Big Commerce, Indeed, and Tesla. Austin has the highest ranked engineering schools in the country and holds the highest earning potential starting around $90k annually. When paired with a reasonable cost of living, that is a pro for the STEMdex credentials. STEM jobs in Austin make up approximately 14% of their workforce and create 22% of the city’s total income. The RCLCO made sure to honor Austin with a public statement acknowledging their consistency and thriving communities. “Austin, home to major players like Dell, Oracle, and Tesla, Austin has become a hub for startups and tech giants alike, thanks to its pro-business environment and vibrant culture. The city boasts a robust employment market in software development, IT services, and emerging fields like artificial intelligence and biotech. Austin’s relatively affordable cost of living and its highly educated workforce from institutions like the University of Texas contribute to its appeal as a tech hotspot. Austin excels in economic and workforce quality metrics.”
Connecting to the Future
In the wake of society wanting to preserve energy, green technology has been the latest wave. Green technology is defined as technology whose use is intended to mitigate or reverse the effects of human activity on the environment; for example, cars that run off of electricity instead of gas and fumes that cause pollution. Solar panels and hydropower being used in order to reduce emissions. The use of renewable energy has transformed the way manufacturers create their products, run their businesses, and maintain their operations. Texas was one of only two states that had multiple cities on the STEMdex list. Much of that being due to the growing Green Technology that’s been popularized along with the high performance these cities have given in the other 24 categories used to measure their success and livelihood in the STEM communities.
The RCLO has been a leading advisor in real estate investment for six decades. It’s safe to say that with such a strong history of success, we can trust their research on the job market are reliable. The growth of STEM jobs has opened doors for people of all ages to begin, or expand their careers in so many fields. Managing Director of RCLCO, Gregg Logan believes STEM jobs are the key to a comfortable personal life, a successful career, and a thriving economy. “STEM jobs, driven by a highly educated workforce, are among the highest-paying and most economically impactful roles in any market. Their significance to the economy is immense, and our STEMdex, now in its eighth edition, is designed to spotlight markets with robust industry employment today; and those poised for significant growth in the future. The STEMdex offers a straightforward and intuitive tool to help people grasp the employment and housing trends that STEM job growth will bring to these cities in the coming years.”
