Colorado Springs Ranks #3 on CBRE’s Annual List of Up-and-Coming Tech Markets

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Colorado Springs ranked third on CBRE’s list of up-and-coming North American tech-talent markets on CBRE’s annual Scoring Tech Talent report, which ranks 75 U.S. and Canadian markets according to their ability to attract and grow tech talent. Colorado Spring’s total tech employment has grown by 21 percent in the past five years and its tech wages increased by 11 percent.  

The report found that most of these emerging tech markets were concentrated in the Midwest and South and had expanded their tech talent growth by double digit percentages in the past five years.

These up-and-coming markets are separate from the 50 larger tech markets that CBRE’s report ranks in its Tech Talent Scorecard. In contrast, the ‘Next 25’ up-and-coming markets are ranked by a narrower set of criteria than the top 50, including tech talent supply, wages, tech-talent concentration, recent tech talent growth rates and their outlook.

Numerous indicators underscore the resilience of tech talent during COVID-19. These occupations registered job growth of 0.8 percent in 2020 in the U.S. while non-tech occupations declined by 5.5 percent. Software developers and programmers were the most in demand tech-job category last year, adding 85,000 U.S. jobs for a 4.8 percent growth rate from a year earlier. Beyond the tech industry itself, those that added tech workers last year include financial activities, professional & business services, and government.

The leaderboard of the ‘Next 25’ markets is filled with markets that have posted double-digit growth in tech jobs since 2013.

Market

Tech employment

5-Year Tech Job Growth

Market

Tech Employment

5-Year Tech Job Growth

Dayton, OH

18,930

31%

Albany, NY

18,840

3%

Huntsville, AL

20,540

9%

Halifax, NS

14,700

24%

Colorado Springs, CO

19,380

21%

Providence, RI

17,160

-3%

Omaha, NE

22,600

17%

Tucson, AZ

15,850

47%

Des Moines, IA

18,320

43%

London, ON

13,500

67%

Colorado Springs also stood out in the report in other key areas:

  • Tech wages averaged $102,630 in Colorado Springs last year, the third highest among emerging tech markets.
  • The narrower category of software-developer wages averaged $107,859 in Colorado Springs last year, up 4.4 percent over the past five years.
  • Tech degree completions in Colorado Springs totaled 1,449 in 2019.
  • Colorado Springs’ overall tech employment totaled 19,380 in 2020.

To download the report, click here.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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