(Photo by Flickr user Pedro Szekely, used under a Creative Commons license)
Washington, D.C. has been ranked the #3 market in the U.S. —and #4 overall — for its ability to attract and grow tech talent in a new report from commercial real estate firm CBRE.
The annual report ranks 50 U.S. and Canadian markets on their tech talent fitness through 13 metrics like growth, tech labor concentration, tech talent supply, cost and completed tech degrees. In the report, D.C. stands out as a top market for people who attain tech degrees and according to CBRE, the District is expected to be one of the largest tech growth market over the next five to 10 years.
“It’s an exciting time for the D.C. area tech sector and CBRE’s latest report shows our region as one of the top three markets in the country,” CBRE Executive VP Meredith LaPier said in a statement. “As a top market for education and with large tech enterprises entering the region, the Greater Washington area will continue to have strong growth in the sector and tech companies will be among the most active participants in the D.C. region commercial real estate market.”
One of the biggest findings in the report for D.C. is that tech talent accounts for 8.1% of total employment, or 253,660 employees, compared to the national average of 3.7%.
Here are some other key D.C. stats from the report:
- D.C. is the #2 market for tech degree completions, with 11,278 degrees completed in 2017 and 31.1% growth from 2012 to 2017
- D.C. is the #2 market for educational attainment, with 57.3% of urban 25-year-olds and over holding a bachelor’s degree or higher, compared to the national average of 31.3%
- In the last five years, D.C. has produced nearly 44,000 more tech graduates than tech jobs in the market
The overall rankings for the top 10 tech talent markets are:
- SF Bay Area, Calif.
- Seattle, Wash.
- Toronto, Ontario
- Washington, D.C.
- New York, N.Y.
- Austin, Texas
- Boston, Mass.
- Denver, Colo.
- Atlanta, Ga.
- Raleigh-Durham, N.C.
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