According to CBRE Group, Inc.’s annual report, Scoring Tech Talent, San Francisco remains the nation’s leading tech market. As competition for talents grows, cities far outside of Silicon Valley are attracting workers looking for an affordable cost of living and new job opportunities. Michael Gerrity for World Property Journal reports on the top tech cities and the influential factors that help shape them into the markets they are today.
Tech Talent Scorecard
Established tech markets, namely the San Francisco Bay Area, Washington, D.C., and Seattle, once again dominated the top spots on the 2016 “Tech Talent Scorecard,” with New York and Austin rounding out the top five–a boost for Austin, which ranked #8 last year. Rankings for the Tech Talent Scorecard are determined based on 13 unique metrics including tech talent supply, growth, concentration, cost, completed tech degrees, industry outlook for job growth, and market outlook for both office and apartment rent cost growth.
The top 10-ranked cities on the Tech Talent Scorecard were all large markets, each with a tech labor pool of more than 50,000. In the number 6-10 slots were Dallas/Ft. Worth, Boston, Raleigh-Durham, Atlanta and Baltimore. Rounding out the top 15 were Phoenix, Toronto, Chicago, Orange County California and Minneapolis.
Top Momentum Markets
Meanwhile, small markets took dominant positions on the list of top “momentum markets,” which ranks cities based on tech talent growth rates between 2010 and 2015. Charlotte and Nashville, which saw tech talent growth rate increases of 75 percent and 68 percent, respectively, topped this year’s list.
“Tech talent growth rates are the best indicator of labor pool momentum, and it’s easily quantifiable to identify the markets where demand for tech workers has surged,” said Mr. Yasukochi.
The top 10-ranked momentum markets and their associated tech talent growth rates were:
|
1. |
74.7% |
|
|
2. |
67.9% |
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|
3. |
61.5% |
|
|
4. |
61.4% |
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|
5. |
Oklahoma City, OK |
59.0% |
|
6. |
58.1% |
|
|
7. |
51.8% |
|
|
8. |
50.9% |
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|
9. |
Seattle, WA |
50.2% |
|
10. |
Vancouver, BC |
50.1% |
[Read the full article: U.S. Cities with Growing Tech Presence Lure Skilled, Educated Millennial Workforce
