Pacific Standard has a short article about the possibility that America’s tech companies and  the financial sector will move out of expensive hot spots like Silicon Valley and New York move headquarters and workers to Rust Belt cities like Cleveland and Pittsburgh.

Those wealthy metropolitan areas have simply become too expensive. Real estate and the average worker salaries are much lower in other areas of the country. Also, the older cities have mass transportation and walkable downtowns. So, the author speculates that Silicon Valley will be become Detroit, and Cleveland will become New York.

When Steve was working as a consultant last year, he briefly worked for a major investment bank that was moving its support staff from New York to Delaware. However, his new job is directly across the street from the World Financial Center. There are only plans to expand downtown, not move elsewhere.

Of course, I love the idea that technology and bottom-line concerns will lead businesses to move to under-utilized areas of the country. Cleveland could sure use that boost. And, here in the Northeast, the cost of living is ridiculous.  I’m not sure that it’s really happening.