(Photo by Pixabay user rupixen, used under a Creative Commons license)
Washington, D.C. has been ranked #2 overall for its ability to attract and grow tech talent in a new report from commercial real estate firm CBRE.
In its annual Tech Talent Scorecard report, the firm ranks the top 50 markets across the U.S. and Canada based on 13 metrics including cost, tech talent supply, completed tech degrees and industry outlook for job growth. The District moved up two spots compared to its overall ranking last year, mainly due to the high concentration of millennials and high-tech degree completions in the past year.
The report may give tech professionals in the region some comfort as the pandemic continues to negatively impact employment across the country.
“We expect that most tech-talent markets and professions will thrive after the pandemic subsides, and many that facilitate remote work and tech services such as ecommerce, social media and streaming services may have even greater growth opportunities accelerated by the COVID-19 disruption,” said Colin Yasukochi, executive director of CBRE’s Tech Insights Center, in a statement.
D.C. stood out for its growth potential, ranking third nationally in the tech talent labor pool category with 263,670 workers, the report states. Tech professionals account for 8.3% of the overall D.C. workforce compared to the national average of 3.7%. The District is a top producer of tech talent and as more companies shift to remote work, there’s more opportunity to keep tech graduates in the region.
“Markets that have strong innovation infrastructure — leading universities and high concentrations of tech jobs — will lead the next growth cycle,” Yasukochi said.
The overall rankings for the top 10 tech talent markets are:
- San Francisco-Bay Area, California
- Washington, D.C.
- Seattle, Washington
- Toronto, Ontario
- New York, New York
- Austin, Texas
- Denver, Colorado
- Boston, Massachusetts
- Atlanta, Georgia
- Raleigh-Durham, North Carolina
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