Press Release: Top 20 Cities for STEM Job Growth Announced in RCLCO’s 2022 Annual STEMdex
Austin, Washington, D.C., Raleigh, Denver, and Seattle top the list of cities with the most momentum for STEM job growth
BETHESDA, Md., November 14, 2022 — Leading real estate advisory firm RCLCO Real Estate Consulting, announced today the results of their 2022 STEM Job Growth Index (STEMdex), which projects which metropolitan areas will have the strongest outlook for growth in STEM jobs. Published annually since 2016, with the support of light industrial and office investment management firm CapRidge Partners, the STEMdex tracks and projects STEM job growth trends across the country by analyzing the economies of the largest metropolitan areas to understand which regions are attracting the jobs and employees of the future. Read the full report online at: https://www.rclco.com/publication/2022-stem-job-growth-index-stemdex
The analysis focuses on metrics in four major areas RCLCO finds to be paramount to the growth of STEM jobs: STEM Trends/Economic Factors, Workforce Quality, Quality of Life/Health, and Business Climate. In total, RCLCO identified and weighted 23 different indicators they believe best characterize the four major categories and can quantify their impact on the STEM job market. Some of the highlights of this year’s list include:
- Austin, TX returns to the top-ranked spot after placing 2nd and 3rd in the last two annual publications of the STEMdex.
- Philadelphia, PA was the only new entrant to the Top 20 of the STEMdex this year.
- Of the largest fifty MSA’s, San Jose has the highest concentration of STEM jobs today.
- The top 5 most heavily concentrated STEM markets – San Jose, Washington DC, San Francisco, Austin, and Boston all rank within the top 10 for projected future job growth.
“Now in its sixth year of publication, RCLCO’s STEMdex exists as a means to highlight the key metropolitan areas that represent current strongholds of STEM employment, as well as those that are likely to see strong growth moving forward. Because nearly 70% of US GDP is influenced either directly or indirectly by STEM employment, understanding where these jobs exist today and where they may concentrate tomorrow is essential to decision makers and real estate investors alike.” said Gregg Logan, Managing Director of RCLCO.
The top-20 cities include:
- Austin, TX
- Washington, DC
- Raleigh, NC
- Denver, CO
- Seattle, WA
- San Franscisco, CA
- Portland, OR
- San Jose, CA
- Boston, MA
- Salt Lake City, UT
- Dallas, TX
- Minneapolis, MN
- New York, NY
- Charlotte, NC
- Atlanta, GA
- Baltimore, MD
- San Diego, CA
- Orlando, FL
- Philadelphia, PA
- Nashville, TN
Since 1967, RCLCO Real Estate Consulting has been the “first call” for real estate developers, investors, public institutions, and non-real estate companies seeking strategic and tactical advice regarding property investment, planning, and development. RCLCO leverages quantitative analytics platforms and a strategic planning framework to provide end-to-end business planning and implementation solutions at an entity, portfolio, or project level. With the insights and experience gained over 50 years and thousands of projects – touching over $5B of real estate activity each year – RCLCO brings success to all product types across the United States and around the world. RCLCO is headquartered in Bethesda, MD, and has offices in Los Angeles, CA, Orlando, FL, Austin, TX, and Denver, CO.
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