Answer: A tough recruiting market, record high housing prices and 67 hours of time spent in traffic.
This area represents the metaphorical headquarters for tech companies and engineers to find each other and make impossible digital feats possible, but with the already high cost of living continuing to climb it's no surprise some companies have chosen to relocate. The Bay Area prices are making it tough for local businesses to recruit the top talent for their open positions, especially with technology giants vying for that same talent pool living in their backyard. As a result, some companies have chosen to move away from the area in search of a less costly alternative, such as Seattle or Austin, both of which have strong roots in the technology industry. With more affordable housing and expenses in these new locations, these businesses will be able to pay lower wages without sacrificing their employees' quality of life.
Even with these relocations, I don't see this technology hotspot cooling down anytime soon.
More than 7,600 Silicon Valley residents left the region for other U.S. cities, the Silicon Valley Competitiveness and Innovation Project found. The group’s findings also show between August 2014 and August 2015, home prices increased 13 percent while rents increased 12 percent. Additionally, SVCIP's report found the average Silicon Valley commuter lost 67 hours in traffic congestion in 2014, up 13.6 percent since 2010.