July 15, 2020
How Tech is poised to accelerate post-pandemic growth.
Where are the top Tech Talent markets in the U.S. and Canada?
- The top-ranked tech talent markets for 2020 are the San Francisco Bay Area, Washington, D.C. and Seattle. Markets registering the greatest rise in the rankings are Ottawa, Orange County, Baltimore, Columbus and Newark.
- The total annual labor and real estate cost in the top tech talent markets ranged from $30 million in Montreal to $62 million in the San Francisco Bay Area for the typical 500-person tech company needing 75,000 sq. ft. of office space.
- The number of tech degree graduates was compared with tech talent job creation in each market to determine brain gains or brain drains. Boston, Washington, D.C., Chicago and Los Angeles produced more graduates than jobs and were the most drained markets, while the San Francisco Bay Area, Toronto, Vancouver, Seattle and Charlotte gained the most tech talent.
- Fostering talent development in lesser-known and underdeveloped markets could offer additional talent pools to employers seeking to expand their geographical reach, uncover opportunities and increase cost efficiency. These markets show potential and are spread across Canada, the U.S. Midwest and South, and Latin America.
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The Weekly Take
My Hometown: How Tech Talent is driving local real estate decisions
CBRE’s Tech Sector experts, Colin Yasukochi, Lexi Russell and Dan Harvey join Spencer Levy to share insights into the many ways tech talent is influencing real estate markets.
By developing a unique location strategy, tech employers are able to gain competitive hiring advantages. Read this sample strategy from CBRE Labor Analytics to learn more about this process and how to get started.
Creating Customized Tech Talent Location Strategies
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October 24, 2019
The high-tech industry’s job growth rate is more than four times the national average since 2010 and is the most important driver of real estate demand for Tech-30 office markets. At 21%, high-tech claimed the largest share of major U.S. office-leasing activity in H1 2019, and economic indicators point to continued momentum for the tech sector.
October 24, 2019
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Executive Director, Tech Insights Center
Richard Barkham, Ph.D.
Global Chief Economist, Head of Global Research & Head of Americas Research
Global Chief Client Officer and Senior Economic Advisor
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