Each city or state/province has adopted different strategy to attract or create these opportunities. We have decided to compile an article summarizing some of our findings.
Here are some suggestions based on our recent survey amongst green companies in North America.
Factors to consider:
1. Is the location Green savvy? Does it have a population supporting green industries or green products?
2. Is the location friendly to green business opportunities?
3. Is the location an ideal location for headquarters?
4. Investment availability, both from public sectors or from private investors?
5. Exporting base – as many green companies can have exporting opportunities
6. Location supporting innovations and entrepreneurships which is a critical factor to support new businesses
Based on these factors, we have selected a number of cities to compare:
1. San Diego: We have spent several weeks in San Diego; the city is already known to be highly entrepreneurial; and has invested heavily in new ideas and technologies. This is no exception when comes to CleanTech; moreover; there are facilities available and can be transferrable for CleanTech opportunities. The city is already a major base for technology and biotechnology companies, and it is seeking to utilize these resources to expand its Cleantech industries.
2. New York: New York is the capital centre of the world; you will be located close to many CleanTech investment firms; therefore; there is a logistical convenience factor to start up your CleanTech company here by being close to investors. In addition, New York City hosts many international exhibitions regularly, providing good opportunities to show-case your business and products.
3. Phoenix: Interestingly; we visited Phoenix to explore some opportunities relating to “Green Data Centre”; this is a hub for such technologies; especially utilizing solar energy for IT applications. Its population is also growing; and there is no shortage of institutions supporting new start up companies here; as well as access to talent.
4. San Francisco / San Jose: San Francisco / San Jose are two cities with large concentration of cleantech companies. These 2 cities have many strategic advantages:
A) Venture Capital hub of the world, which many of them are also investing in Cleantech companies
B) Business culture – you can get supports from fellow start-up entrepreneurs; or business mentors.
C) Access to talents – being close to reputable universities and institutes that provide access to new talents.
D) Population supporting environmental friendly products. This means – the government is implementing more green related projects such as renewable energy, utilities or waste management technologies.
6. Boston: Certainly a great place for CleanTech Start-ups; Boston hosts many “clusters” that supports CleanTech start-up companies; in Boston, you can receive a lot of supports from universities in the form of networks and capital investments.
Similarly, the culture is also highly supportive to visionary executives; the government is also very supportive to innovations with grants and other incentives available.
7. Portland: Portland is well connected and supportive network for entrepreneurs in Portland; and there is no shortage of inspiring CleanTech companies based in Portland; although it may not have a big Venture Capital market as in Silicon Valley; it has many new programs in place to encourage companies to choose Portland as the headquarter location for cleantech companies. For professionals looking for career opportunities, the living cost is also considerably lower than that in California.
8. Texas – Texas is excellent location to start business and for green career opportunities. Austin, Houston, Dallas are all great locations to find job opportunities as well as setting up businesses.
Texas has impressive unemployment rate which is significantly lower than the national average. In addition, it is becoming a major financial hub for venture capital investments, some of the investors are attached to the region’s energy companies which have been investing heavily into renewable energy projects.
There are good opportunities available for engineers, IT professionals and financial professionals in Texas. The cost of living is also very reasonable in Texas, which is a factor why it is also attracting a lot of families.
9. Atlanta: Atlanta is rising as a new economic power with strong growth in population. Importantly, Atlanta, and Georgia in general has seen significant growth in technology capability; this is achieved through growth of education sector; with new facilities available from various colleges in Atlanta.
A good example is its achievements in biotechnology sectors already; and this is being expanded into CleanTech sector.
10. Virginia: Virginia is well known to be one of the technology hubs in the East Coast. Traditionally known for its defence industries, Virginia is now a major hub for technology companies, telecommunications and biomedical industries.
Similarly, we rank Virginia highly for green career / business opportunities because of the same factors: Supportive business culture, access to investment capital from public-private sectors; and a very popular location for global headquarters. Cost of living is also considered as reasonable in Virginia as well.
There are many other locations that are setting up as major hubs for green industries. Michigan has taken many steps and it is integrating its engineering and automotive industries & talents with cleantech. Lots of new cleantech companies have recently opened new facilities in Michigan including many R&D facilities.
Pennsylvania is already showing strong growth because of the shale gas discovery, with more than 100 companies opening new facilities last year.
Florida and North Carolina have both announced several positive announcements last month, with several solar companies setting up their R&D facilities in these states. Florida is also a popular destination for solar companies because of its climate, it is also attracting many European cleantech and utilities companies to set their operations in Florida as their North American HQ.
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