Earlier this week we reported on the concentration of tech jobs in eight hub cities. Seattle ranked well in that study. We’ve since come across another report that looks at the nation’s top tech cities. Cushman and Wakefield, a global real estate firm, released its “Tech Cities 1.0” report on the top tech cities in the U.S.
Seattle again scores well, coming in at No. 6. The top 5 are, in order, Silicon Valley, San Francisco, Washington D.C., Boston/Cambridge, and Raleigh/Durham/Chapel Hill. Here’s the full list.
Cushion and Wakefield writes that tech cities
have outperformed the U.S. as a whole in terms of job growth, income growth, net absorption of office space, and rent growth over the past seven years.
They’re characterized by what the report calls a “stew” of elements that contribute to metro tech success.
“Tech stew” essentially boils down to six key ingredients – local universities, capital, tech workers, knowledge workers, educated workers, and entrepreneurial spirit. Each thriving tech market has a distinct essence based on the proportions of each metric, which the following section defines and examines.
Tech Cities 1.0 is the first release in a series of reports focused on opportunities created from the expansion of the tech industry as it relates to CRE [commercial real estate] in the U.S. Throughout 2017 and beyond, we will continue to explore what makes a city a “tech city” and monitor tech’s impact on CRE.
Some good information here, clearly presented.