Will Phoenix Be The Next Silicon Valley

While many of the electronics companies that are now household brand names had their beginnings in the Silicon Valley, today companies are looking to other locations for their startups. One of the new valleys that is growing in popularity is Phoenix, Arizona. Once known primarily as the winter home of retirees, Phoenix has a growing number of businesses that find it a favorable location to call home.

One of the biggest attractions for new businesses is the lower cost of living. A three bedroom home with two baths that would rent for $3,000 per month in the Silicon Valley goes for about $850 per month. In addition food, sales tax and income tax are also less expensive.

With lower overhead costs, businesses find that the financial freedom helps to lower the startup stress. It is easier to live and work in balance. There is less need to build a huge savings account so that business owners have a contingency plan if the business fails.

Many are surprised to learn about the number of startup businesses located in the area. They are even more surprised to learn the rate at which the number is growing. The area is attractive to startup owners, especially if they compare to the costs of beginning in the Silicon Valley.

One of the difficulties in the area is finding talent. The new valley is simply not as saturated with talented individuals looking for jobs. This is especially true for top management positions. However, the lack of such competition also has its benefits. Instead of competing with other companies in the areas, these businesses attract quality employees with a higher quality of life for employees.

Living in this other valley does not limit one's success. Some businesses have developed from their raw idea to fully staffed companies with seven figure funding in less than a year, impressive for any location. Add the 60% savings in living and business expenses and Phoenix becomes even more attractive.

S E O Gears is one of the companies that has selected Phoenix, Arizona as their home base of operation. The company provides search engine optimization for websites using organic means of increasing traffic to websites. The company and its employees enjoy the quality of life that Phoenix offers. These factors work together to point to the possibility that Phoenix and the areas that surround it could become the next Silicon Valley for new business starts that have worldwide impact.