Technology jobs and the economic prosperity they bring are being concentrated in fewer US cities, according to a new report from The Brookings Institution.
Since 2005, five metro areas — Boston, the San Francisco Bay Area, San Jose, Seattle, and San Diego — accounted for 90 percent of all US growth in “innovation sector” jobs, which Brookings defines as employment in the top science, technology, engineering, and math industries that include extensive research and development spending. Meanwhile, 343 metro areas lost a share of these jobs in that same period.
The result: Wealth and productivity are becoming even more concentrated in fewer, primarily coastal cities. One-third of the nation’s innovation jobs resides in just 16 counties; half are concentrated in 41 counties. These jobs are high-paying and contribute to overall faster wage growth in the areas they’re located, than in areas with fewer innovation jobs. They also result in a lot of secondary work — jobs created to help serve those workers.
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