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October 4, 2021 | 3-minute read (464 words)
Entrepreneurs in the United States are recognized for inventing across industries. Still, recent research sought to determine if such ideas are spread far enough across the country, and the results may surprise you.
Since about 2005, the 13 fastest-growing industries, including satellite communications, computer equipment R&D services, and manufacturing, have been mostly concentrated in 20 major metropolitan regions. And according to a December 2019 Brookings Institution report, dubbed "The Case for Growth Centers," the following five cities accounted for more than 90% of the country’s innovation-sector growth: San Diego, San Francisco, Seattle, San Jose and Boston.
According to the report, only 16 counties account for around 30% of all innovation industry job roles in the U.S. This undoubtedly pushes such places forward, but it may be stifling progress in others, putting them behind from a tech perspective.
And, as the study remonstrates, it's not all good in the five top innovation cities. These hot spots for innovation also have sky-high housing prices and chronic traffic congestion. While college-educated employees migrate to the growing hubs, leaving noninnovative areas with fewer talented job applicants.
In addition to the five cities mentioned above, the report classifies 15 additional regions as "superstar metro areas," which are as follows:
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