[Gordo]

I know it's fashionable to dismiss Microsoft as a has-been at this point, but it should be noted that they're still setting total revenue and profit records nearly every quarter. All of the employees (40,000+ in the Seattle area) received an across the board ~10% raise last year to bring the company more "in line" with other tech companies (read: stop folks from jumping to Amazon or heading to the Bay Area), which has to have had a positive impact on the local economy. This is just anecdotal, but it seems to me that offers from MS are trending up this year as well.

As someone who employs 30+ people in the Seattle area in internet/software consulting, there is a very real shortage of good tech talent in the Seattle area, which is leading to salary increases at least similar to those in the Bay Area (not at that level yet, but it's getting there). The common story in Seattle among tech folks is that everyone young wants to go work their ass off at Amazon for relatively low pay (because it looks great on the resume - for the industry their pay and hours are terrible, but a three year stint at Amazon can lead to some great job offers from elsewhere), and everyone 30+ wants a cushy higher-paying job at Microsoft.