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For decades, the Midwest held its status as the industrial heartland of the nation, serving as the crucible where the machinery and tools that powered the U.S. economy were forged. However, since the 1980s, a sweeping wave of deindustrialization has swept through the region, compelling Midwestern cities to navigate the challenges of revitalization in an era dominated by technology.
To assess the strides taken in this transformation, commercial real estate website Commercial Café ranked the 20 most promising Midwestern metro areas for tech development. The evaluation relied on nine key metrics, encompassing data on the concentration of tech businesses, tech employment within the local economy, and the number of patents awarded. Additionally, unemployment rates and educational attainment were considered in this assessment.
Milwaukee emerged as a contender in this tech-driven renaissance, securing the 17th position among the rankings. Notably, Milwaukee ranked 6th in terms of organizations and companies contributing to patents submitted between 2018 and 2022. Moreover, it clinched the 8th spot for the number of patents approved during the same period and demonstrated significant tech earnings growth from 2017 to 2021, once again positioning it at 8th place.
However, the crown of tech prowess in the Midwest was claimed by Madison, which ascended to the top spot in the ranking. Madison showcased exceptional performance across several key metrics, solidifying its status as a beacon of tech innovation in the region. Following closely behind Madison were Ann Arbor and Chicago, rounding out the top three in this analysis of Midwestern tech development.
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As the Midwest continues its journey towards technological transformation, these rankings provide valuable insights into the evolving landscape of innovation and economic resurgence in the heartland of the United States.
View the full rankings and study finding at the Commercial Café website.
