Technology companies on the move are increasingly looking to set down roots in San Diego, and a new study now shows why.
The San Diego Regional Economic Development Corporation released a study Tuesday, ranking the City of San Diego 7th among the top 50 U.S. metros in software development and a top destination for tech talent wanting to relocate.
“The study shows that San Diego is not just a good place, it is a great place to do business,” San Diego City Councilmember Mark Kersey said at a press conference Tuesday.
It also shows San Diego's software industry impacts more than 100,000 jobs, with a total economic impact of $12.2 billion.
“By moving to an area like this you kind of get to be a bigger fish in a smaller pond,” Bizness Apps CEO and Founder Andrew Gazdecki said.
Over the last several weeks Gazdecki’s company has been moving out of Silicon Valley in San Francisco--what many might consider to be the home of the tech startup--and moving down to La Jolla.
“It's not easy to do, but long term there, are so many competitive advantages to making a move like this,” Gazdecki said. Some of the advantages include less traffic and lower cost of living than San Francisco.
But Gazdeki said the real lifeblood of any company is the talent. And so far Gazdeki and his team have not been disappointed in San Diego.
“The talent’s here and so we've begun hiring people,” he said.
In fact, the new study shows San Diego ranks 8th among the top 50 U.S. metros for talent, showing that San Diego’s universities are producing qualified employees who want to stay in the city.
“San Diego is a magnet that attracts and maintains talent,” Stacy Mendes said. “There is a sense of accelerated growth in our tech ecosystem.”
Mendes is the vice president of culture at Underground Elephant. The software development company was founded in San Diego eight years ago and it’s only growing. In the coming weeks, employees will enjoy a new and bigger workplace downtown.
“It's beautiful out here, there's no reason not to be here,” said Nick Knol, a software developer. Knol went from working in Boston to Chicago and now to San Diego where he works at Underground Elephant. “We’re ready for a lot of explosive growth so it's really exciting.”
In short, the study shows what companies like Underground Elephant have always known and what companies moving in like Bizness Apps are learning—that now is a good time to build a technology company or join a technology company in San Diego.