Las Vegas ranked twenty-first on CBRE’s list of up-and-coming North American tech-talent markets, according to CBRE’s Scoring Tech Talent Report, whichranks 75 U.S. and Canadian markets according to their ability to attract and grow tech talent. Las Vegas’ tech-talent labor force grew by 36 percent in the past five years and its tech wages increased by 6 percent.
The report, which can be viewed in detail by market in the interactive Tech Talent Analyzer,found that most of these markets expanded their tech-talent labor pools 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.
“For years Southern Nevada has been attracting tech talent and tech companies from across the West in search of a lower cost of living, labor availability, reliable power and stable weather. Las Vegas in particular is continually ranked among the most entrepreneurial markets, particularly for start-ups. Additionally, Las Vegas has become a leader in some of the most innovative and fastest-growing tech sectors, including gaming tech, software engineering, data centers and autonomous vehicles,” stated Brad Peterson, Senior Vice President, CBRE.
The report outlines how tech-talent jobs are positioned to weather COVID-19 and related shutdowns and the ensuing recession because, more than ever, companies across all industries need the technical skills that this talent base offers. Many tech products and services such as streaming, remote communications and social media now are in higher demand to support remote work and social distancing.
Tech employment has shown it can withstand economic shocks: In the 2008-2010 recession, tech-talent employment declined by 0.5 percent while overall U.S. employment registered a 5.5 percent drop.
“We expect that most tech-talent markets and professions will thrive after the pandemic subsides, and many that facilitate remote work, e-commerce, 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. “Markets that have strong innovation infrastructure – leading universities and high concentrations of tech jobs – will lead the next growth cycle.”
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 |
|
Waterloo Region, ON |
22,400 |
51% |
|
Huntsville, AL |
22,800 |
14% |
|
Omaha, NE |
22,500 |
21% |
|
Colorado Springs, CO |
18,020 |
15% |
|
Dayton, OH |
18,790 |
29% |
|
Quebec City, QC |
35,800 |
27% |
|
Providence, RI |
19,010 |
11% |
|
Albany, NY |
19,340 |
13% |
|
Edmonton, AB |
25,200 |
17% |
|
Louisville, KY |
20,420 |
33% |
|
Stamford, CT |
14,470 |
-13% |
|
Halifax, NS |
13,200 |
11% |
|
Columbia, SC |
12,560 |
18% |
|
Tucson, AZ |
14,330 |
51% |
|
Tulsa, OK |
13,040 |
34% |
|
Harrisburg, PA |
12,980 |
14% |
|
Oklahoma City, OK |
19,540 |
7% |
|
Des Moines, IA |
17,590 |
25% |
|
Inland Empire, CA |
22,220 |
29% |
|
Buffalo, NY |
16,030 |
10% |
|
Las Vegas, NV |
19,040 |
36% |
|
Winnipeg, MB |
15,400 |
-2% |
|
Palm Bay, FL |
13,910 |
33% |
|
Birmingham, AL |
15,570 |
-2% |
|
Boise, ID |
12,520 |
48% |
Las Vegas also stood out in the report in other key areas:
- Tech wages averaged $82,902 in Las Vegas last year, an increase of 6 percent since 2013.
- The narrower category of software-developer wages averaged $90,065 in Las Vegas last year, up 10.5 percent over the past five years.
- Tech degree completions in Las Vegas totaled 378 in 2018.
View the full reporthere. To view individual market statistics and rankings, including rankings on the Scorecard, access CBRE’s Tech Talent Analyzer.
