Investment in the New England region keeps tech job growth rising
As New England tech jobs growth has shown an upward trend so far in 2024, it’s fitting that Rhode Island and the Southeastern New England Region are designated by the Biden-Harris Economic Development Administration as one of the 31 Tech Hubs. The “Ocean Tech Hub” as it’s been dubbed along with lower coastal Massachusetts is on track to “strengthen the New England economy,” fostering innovation and advancements in emerging technologies (Ocean Robotics!) and more.
The shores of Rhode Island and lower New England, however, aren’t the only areas being eyed for a tech bump. The recent announcement in April of the V-GaN Tech Hub propels Vermont to the forefront of tech innovation as well. With a strong focus to “transform the Green Mountain State into a world leader in Gallium Nitride (GaN) semiconductors,” as noted by Governor Phil Scott, the efficient GaN chip design and development opportunities have attracted over 60 businesses, educational institutions, and municipalities to support the initiative.
An Optimistic View of New England Tech Jobs Trends
With all the news of widespread investment in tech in the New England area, the overall job numbers are echoing the excitement. The Federal Reserve Bank of Boston shared earlier this year that Hartford, Connecticut is a top 10 tech city for smaller labor pools. Plus, the most recent job report lists Boston as a top 10 metro for tech job postings, showing a positive uptick from the month prior.
Further supporting the New England region as a go-to for tech, Forbes reported in Q1 2024 that Massachusetts ranks # 7 for the Best States for Tech Jobs based on “seven factors including employment rates, salary and wages, GDP growth and tech opportunities to find the best and worst states for technology careers.” Massachusetts is also listed as #5 for the highest-paying state, a big draw for tech professionals with a median annual wage listed at $118,510.
Making our way up the New England coast, Vermont is listed in the same report as one of the best states for females to work in tech. With 32.50% of the tech workforce identifying as female vs. the national average that is still hovering in the 27-28% range, Vermont is propping itself up to be a leader in gender diversity in the tech industry.
Contributing Factors to New England Tech Jobs Growth: Smart Location and Top Talent
For years, Boston was consistently touted as the smartest city in the country, in relation to its tech innovations and advanced urban development. As cities continue to catch up, in a metro ranking from last year, Boston ranked in the top 10 for smart cities (#2 in 2023). And if we hold true to the mantra “location, location, location,” the Boston hub boasts a robust transportation system and numerous housing options to attract talent to the area.
One factor, however, that really drives the New England region as a tech leader is the talent. Terry O’Leary, Prosum, Vice President-New England shares, “When you have MIT, Harvard, and Yale in your backyards, the brain trust for tech innovation and other STEM concentrations is significant.”
In fact, The Business Journal notes, “Boston’s rich ecosystem of seven of the top 50 universities attracts world-class STEM talent. The region has witnessed an impressive 46% surge in STEM program graduates over the past five years, making it the third-highest STEM graduate-producing region in the U.S.”
That talent pool is hard to top, which is also a reason why companies that struggle to find talent for emerging technologies like AI and machine learning may find more candidate choices here.
It’s also a contributing factor as to why VCs and start-ups tend to put roots down in the area, with Boston emerging as a place that is pulling from the Big Tech leaders, and headcount in tech is growing. The Boston Globe lists its annual TechPowerPlayers and after a slower 2023, in 2024 the sentiment is that innovative, diverse companies are growing in the region.
“It’s an exciting time to be part of the growth in the New England region,” continues O’Leary. “Because of deeply knowledgeable Account Executive and Recruiting teams, Prosum’s ability to deploy top talent, especially for core foundations in tech, is unmatched, providing companies with access to a talent ecosystem that thrives in a growing, diverse environment that this area is known for innovation.
Our Prosum tech staffing experts in the New England market continue to monitor hiring trends and work closely with employers and candidates to create the most effective hiring relationships for maximum competitiveness. Contact our team today to request IT talent or inquire about new tech opportunities.
