CBRE has release the 2022 edition of their Scoring Tech Talent report and Vancouver has been on fire over the past five years.
The report is a comprehensive analysis of labor market conditions, cost and quality in North America for highly skilled tech workers.
CBRE ranks the top 50 markets in the U.S. and Canada according to their competitive advantages and appeal to both employers and tech talent employees. Ten Latin America and 25 up-and-coming U.S. and Canada markets have also been analyzed and ranked.
CBRE’s analysis provides further insight into the quality of tech workers, their demographics and diversity and how tech talent growth patterns are impacting cities and real estate markets.
The scorecard uses 13 metrics to measure each market’s depth, vitality and attractiveness to companies seeking tech talent and to tech workers seeking employment. Each metric is weighted by its relative importance to job creation and innovation. Tech talent concentration metrics have the highest weights because they signify clustering of tech workers.
Not surprisingly, the top five markets were the same as last year: San Francisco Bay Area, Seattle, Toronto, Washington, D.C. and New York, with Toronto moving up one spot to #3.
Markets that moved up most in rank were Dallas/Ft. Worth, Philadelphia, South Florida and Milwaukee (+4 spots), while Vancouver, Chicago, Pittsburgh, Orlando, Edmonton and Houston moved up 3 spots.
Between 2016 and 2021, Toronto had the most tech talent growth (+88,900 jobs), followed by Seattle (45,560) and Vancouver (44,460).
Major gateway markets dominate overall tech talent growth because of their size but during the five year period, the highest percentage growth was 63% in Vancouver, 44% in Toronto and 43% in Quebec City. Go Canada!