A new CommercialCafe study has ranked Madison first among the 20 best Midwestern metro areas for tech development, with a total of 66 points and strong performances across several metrics. Metrics included data on the ratio of tech businesses within the local economy; tech employment; the number of patents granted; and data assessing cost of living and development opportunities.
Top findings include:
- Madison stands out as the top choice for tech professionals. The metro area boasts the highest ratio of tech employment opportunities on the list with 71 of every 1,000 occupations falling within this sector.
- Professionals employed by tech businesses in Madison can expect to be well remunerated for their knowledge and skills, as the Wisconsin metro area has the second-highest earnings for jobs in this industry on the list — roughly $89,000 per year.
- Madison’s tech sector growth is supported by a highly skilled talent pool, nurtured by the region’s many academic and research institutions. Among the entries on CommercialCafe’s list, the Wisconsin metro ranked second for educational attainment levels, with nearly 49% of residents holding a bachelor’s degree or higher.
- Madison tech earnings have witnessed the fourth-highest percentage increase among the ranking’s metros, with 28% growth from 2017 to 2021.
- Madison ranks third for its tech business density with 31 of every 1,000 firms registered within the Michigan metropolitan area falling under the tech category. This places it in close competition with Minneapolis, ranked second.
The complete study is available online.
