From startups to Fortune 500 companies, the tech industry has been booming. Its original homeland was Silicon Valley in California but with rising costs and the availability of remote working and hybrid workplaces, there has been a mass exodus with the industry finding new pastures as a base. Houston and Washington, D.C are both emerging hotspots, with the latter having the largest density of tech companies outside of California.
Hybrid workplaces are the new normal and with the advances in technology, there are few traditional office jobs that cannot be done part-remotely. Of course, there are many perks to hybrid workplaces, offering flexibility, autonomy, and financial advantages. For employers, they bridge the gap between full-time office presence and complete remote work, offering employees an opportunity to enjoy real-life interactions with their colleagues. They also reduce costs and improve productivity.
The Square has developed its Flex Space to revolutionize the way that people work. By optimizing its spaces, it caters to all working needs - from coworking spaces to private offices for 20-plus people - and offers amenities that enhance work-life balance and promote creativity and focus. Our workplace technology allows 24/7 access to our facilities and ultimate connectivity with our fast, secure WIFI. For tech companies looking to move, they give the opportunity to explore new locations without long leases and set up new offices swiftly. Meanwhile, The Square allows startups the ability to flex up or down easily depending on their requirements as they grow.
Silicon Valley has long held the title of the technological hub of the world, but big tech has been setting up satellite offices or moving their headquarters to different locations in the US. California is one of the most expensive states to work in, experiencing the highest taxes, obstructive real estate prices, and increased crime rates, and the area has become less appealing to employees. To widen the talent pool, tech companies have been looking to other areas with more inviting financial and lifestyle incentives. Also, the higher costs diminish company profit and make investment less attractive. California is one of the most regulated states in the US, affecting economic freedom and the ability to stand up in competitive marketplaces.
The capital city is fast becoming a hub in the local and global tech industry and has solidified its position as the East Coast’s most prominent tech company-populated city. According to the CompTIA 2021 report, it was posting the largest number of job advertisements for Tech-related positions and is fast cultivating an attractive tech industry that is garnering national attention. With the Federal Government already located there, it’s no surprise that the tech industry lobbying arms of major companies such as Google, Amazon, and TikTok are located there, but there is also a large presence of cybersecurity, health tech, and software companies there too.
The Square’s newest location is opening up in the iconic Bowen Building in Downtown Washington, D.C, and is steps away from many federal buildings and The Whitehouse making it a perfect location for companies looking to make an impact.
Houston is fast becoming a hotbed for innovation, seeing $1.43B of investment in the area from 2020 to 2022. High taxes, increased living costs, and strict restrictions have seen players in the tech industry move to the southwest where conditions are considered less challenging. For example, Houston is Hewlett Packard Enterprises' largest employment hub and it is building a campus there.
For those looking to move there, The Square’s coworking space in Houston can accommodate solopreneurs, startups, and large enterprises in two of our locations - The Square at Texas Tower and The Square at 717 Texas.
For those who work with sensitive information, we have private offices that can accommodate one person to 20-plus. Our Enterprise Suites have their own meeting rooms and kitchenettes for ultimate seclusion. If a team member needs some quiet time, they can use our dedicated focus rooms away from everyone else where they can enjoy solitude.
Our meeting and conference rooms can be booked on demand easily and quickly online by the day or hour, depending on your requirements. You don’t need to be a member, so can be used when you have a meeting in town or if you’re meeting a client and don’t have anywhere appropriate to host them.
With our mix of workplace technology, world-class amenities, and purpose-designed workspaces, we can provide all the needs that your tech company requires.
For more information about The Square, contact us or book a tour.