By Jon Banister
Tech entrepreneurs looking to launch new startups outside of the Bay Area may want to look harder at Washington, D.C.
The nation’s capital ranked as the No. 3 tech city in the U.S. in Cushman & Wakefield’s Tech Cities 1.0 report, coming in behind San Jose and San Francisco. Boston/Cambridge and Raleigh/Durham/Chapel Hill rounded out the top five.
Cushman & Wakefield Principal Economist Ken McCarthy and researcher Robert Sammons spent six months putting together the firm’s inaugural tech report, which analyzed factors such as talent, capital and growth opportunity.
The report also considered the region surrounding the cities, so D.C. benefited from biotech hubs in suburban Maryland and NoVa’s defense, cybersecurity and aerospace industries.
D.C. was propelled by its educated workforce, top universities and the presence of the federal government, Cushman & Wakefield Director Theo Slagle said.
“It’s a combination of a healthy local economy coupled with a highly educated workforce, and the fact that tech companies, especially larger ones like Google, Facebook, Yahoo and Amazon all have a significant presence here,” said Slagle, one of the District’s top tech brokers. “They are here because their influence on policy is becoming more and more important.”