Denver ranks 3rd on RCLCO’s 4th annual STEM Job Growth Index (“STEMdex”), released this week. The STEMdex highlights a number of metro areas commonly recognized as STEM (aka Science, Technology, Engineering, Mathematics) strongholds.
The STEMdex tracks job growth momentum through an analysis of the 38 largest metropolitan areas in the country. The metro areas of Charlotte, Austin, Seattle and Raleigh also topped the STEMdex, published annually in partnership with office investment management firm CapRidge Partners.
Rather than simply identifying where STEM jobs are today, the STEMdex seeks to understand where they might be going in the future based on changing local economies, migration of young households and other key factors to help real estate investors, policymakers and local governments understand which geographic areas and job categories will play the largest role in economic growth in the coming decades.
“Quality of life, favorable cost of doing business, and strong job markets – especially STEM jobs – are the leading indicators for healthy investment markets,” said Adam Ducker, senior managing director of RCLCO. “Understanding where these jobs exist today and where they may concentrate tomorrow is essential to decision makers and real estate investors, as STEM jobs will likely play an even more significant role in economic growth in a post-COVID world. We would expect to see regions with more STEM jobs recover from this recession much faster than regions whose jobs are more concentrated in effected industries.”
Some key changes noted regarding the 2020 listing include:
- Charlotte shoots to the top
- Orlando and Portland are in the top 10 for the first time
- Indianapolis, Tampa and San Antonio appear on the list for the first time based on growth dynamics, cost and quality of living factors
- Dallas and Houston moved down
