This paragraph in MansionGlobal struck me recently.
“And as EV tech companies grow, real estate in many regions of the U.S. stands to benefit from the influx of new tech workers and local economic growth. Beyond Silicon Valley, there are burgeoning EV tech hubs in cities like Austin, Texas, Pittsburgh, Detroit and Phoenix.”
This is more than the Tesla effect in Central Texas and Austin. This is an industry quickly transforming to more innovative and efficient technologies. And it goes beyond transportation. The major tech hubs themselves are morphing. Austin is already a tech hub but EV’s provide more of a punch. It’s not just software and services. This is big hardware stuff, real vehicles in a real factory. And that has broader impacts. Modern factories are marvels of automation and all that automation is run by machines. Machines require software and software requires developers. That means more tech workers and more migration to the hubs where the software development is happening.
Austin is well positioned to capture some of this growth.
