High Tech Spills into Suburbs

PHOENIX—As goes the high-tech industry, so goes opportunity. Once a high-tech company anchors a neighborhood, housing prices rise, new amenities spring up and unemployment dips. JLL‘s latest High-Technology Office Outlook reveals where high-tech companies are looking for (and finding) reasonably priced labor and real estate, and how new and unexpected markets like suburban Phoenix are getting a piece of the action—and a second economic wind.

“Tech companies are looking for new locations for many reasons, not just for intellectual capital, or venture capital funding but other factors such as standard of living,” says Julia Georgules, co-lead of JLL’s Technology research group.  “In our research, we call this ‘market dynamism.’ We have looked at different lifestyle factors for each of the 34 tech hubs, including proximity to transport and walkable amenities.”