Jay Clemens
The Washington region has become an alternative business hub for technology companies seeking to move from Silicon Valley, Calif., the Washington Post reported Monday.
Marjorie Censer and Jim Tankersley write Savi Technology was one company that decided to relocate its California headquarters to Virginia, making the move in 2011.
William Clark, Savi CEO, told the Post many of the company’s employees in California decided to stay on the West Coast.
“People in Silicon Valley are always on the lookout for the next hot thing, so employee turnover — unless you’re one of the hottest companies — can be very high. We made an assumption that the talent would be available in the D.C. region, and it turned out that it was,†Clark added.
The company’s Washington-based employees design wireless tracking devices for monitoring equipment worldwide, according to the report.
Savi now seeks business opportunities in the region beyond tracking devices to data analytics, the Post reports.
