We have seen a huge tech explosion over the last 25 years. At the end of the last century, users would dial in to the internet using a landline connection, awaiting a series of beeps and clicks to signify a successful connection. Now, people hailing from various socioeconomic backgrounds connect to the web effortlessly from the smartphone in their pockets. As technology prevails as our preferred choice of medium, so does the need for a talented workforce to support our systems. One place that is taking part in this growth and seeing a boom in tech companies is Nashville.
Many factors are contributing to the expansion of Nashville’s rich technological ecosystem. The boom of Nashville tech companies has been largely driven by Millennial interest in Music City, along with the recent announcement of an Amazon headquarters and the relocation of a Wall Street firm to Nashville.
Millennials in particular seem to be targeting Nashville as a new place to lay down roots. According to the Tennessean, millennials are flocking to Middle Tennessee. The news source reports that Nashville and D.C. are experiencing “millennial populations growth by more than 80 percent over the past six years.” This group comprises the largest demographic in history and is often the source of interest when it comes to economic analysis. Millennials possess an overwhelming influence as they represent approximately 25% of our overall population.
In addition to millennial interest, Amazon has recently set its sights on Nashville as the location for a new operations hub. The retail giant announced plans to install the new operational center in late 2018, which is anticipated to add 5,000 full-time corporate jobs in the Nashville area, making Amazon one of the largest employers in the city. Strategically located as the intersection of three interstate highways, Nashville garnered interest from Amazon who has been seeking to adjust logistics and reduce their reliance on shipping companies. While many are speculating as to what exact impact this will have on surrounding Nashville tech companies, it is evidence of the city’s growth and still untapped potential.
Finally, recent legislation has even attracted the Wall Street firm AllianceBernstein, according to Bloomberg. Even though the company considered 30 cities in its evaluation of a future home, it was Nashville who won the bid. The company will relocate more than 1,000 workers to take up residence in the Middle Tennessee city.
All of these elements are aligning to make Nashville the site of significant tech expansion. The home of the Grand Ole Opry was cited in LinkedIn’s Workforce Report for 2017 as having an extreme lack of tech talent, with the biggest shortage of software engineers in the country. Despite those numbers Nashville is undoubtedly on the tech scene. According to a recent report detailing Middle Tennessee technology growth, Nashville experienced a 30% growth in tech jobs from 2012-17, compared to the national average of 10%. The same report reveals that software engineers are in particular demand, with 1,334 job postings in Middle Tennessee from July 2017 through June 2018. Nashville continues to mark itself as a unique attracter of tech talent, posting 8,800 tech job postings in the same period, according to the Nashville Post.
Nashville tech companies aren’t just drawing interest from outsiders, they are producing their own tech pipeline, as well. From 2012-17, 36 schools in Middle Tennessee graduated students with tech-related degrees. In 2017 alone, 3,670 students graduated with degrees relevant to the tech workforce.
The burgeoning social scene and development of Nashville’s residential markets is only contributing to the growth of the tech industry, making the city a magnet for tech talent.
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