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Coimbatore backs up for Chennai

Chennai is indeed going through troubled times. After the December floods, one had the Vardah storm. This year water scarcity is threatening to loom large. With back to back risks, several IT firms have started to move operations to other locations. And top of the list is Coimbatore thanks to the available local talent pool, comparatively disaster-free climate and high-end infrastructure. 

The principal beneficiary is TIDEL Park that was set up in 2011. It housed only one company till 2015. But now it is home to around 70 companies and has little space for newcomers. Over 10,000 work in the various companies. The park recorded a turnover of Rs 850 crore in 2016-17 (till February). 

An IT Park in Keeranatham that became operational in 2009 had only three firms. Now more than 16 companies operate and employ around 25,000. The turnover of businesses in the park was upward of Rs 2500 crore in 2016-17 (until February). 

The city is also becoming a startup hub. Several startups from Bengaluru are moving to Coimbatore.

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