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New Study Ranks San Diego 7th In Nation For Software Developers

San Diego is making giant strides in the software industry, and Underground Elephant is at the forefront of the efforts. In a study released yesterday by the San Diego Regional EDC, San Diego ranked 7th overall on the Software Power Index, ahead of Austin, Portland, Los Angeles and New York. The study used factors including venture capital, talent retention and quality of life among other categories to determine a city’s rank.

“With this study, we now have the ability to quantify the depth of the software ecosystem for the first time,” said Mark Cafferty, President and CEO of San Diego Regional EDC. “We know San Diego is a good place to build and locate a business — and companies are following suit.”

San Diego already has a solid tech foundation in life sciences, energy, healthcare, and defense. The study anticipates an 18.1% growth rate in software jobs over the next year, and we are excited to contribute to the growth.

One of the key drivers of UE’s continued expansion has been the ability to tap into San Diego’s highly skilled workforce. Three years ago, UE had a mere 60 employees; we are now working towards employing a community of 200 people with a wide range of backgrounds.

The quality of life found in San Diego is a key reason why UE is able to retain local talent from major universities like UC San Diego, which boasts the third most undergraduate computer scientists in the nation. Not only is UE helping to preserve local talent, but we are attracting new talent from as far as Portland, Ohio, and Sweden. When you take into consideration the cost of living, commute time, and salary, San Diego is a premier destination for individuals looking for an alternative to Silicon Valley.

Key findings from the study:

  • The total economic impact of San Diego’s software ecosystem is $12.2B annually
  • San Diego has 21,600 software developers
  • More than 100,000 jobs in the region depend on the area’s software industry
  • More than $500 million in venture capital flowed into software-related startups in 2015
  • Mergers and Acquisitions (M&A) comprise 68% of San Diego’s capital flow – on average
  • U.S. metros receive 42% of capital through M&A

For a copy of the full study, click here.