San Diego CA— San Diego remains in the top 20 markets in CBRE’s Tech Talent Scorecard, part of its annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent. The metro also experienced the second-fastest momentum change across all 50 markets.
Tech labor concentration – or the percentage of total employment – is an influential factor in how “tech-centric” the market is and its growth potential. The top five markets for tech talent in 2019 were the San Francisco Bay Area, Seattle, Toronto, Washington, D.C., and New York, all large markets with a tech labor pool of more than 50,000. San Diego at #18 is the second-highest ranked tech talent pool in California, above Los Angeles and Orange County.
The Tech Talent Scorecard is determined based on 13 unique metrics, including tech talent supply, growth, concentration, cost, completed tech degrees, industry outlook for job growth, and market outlook for both office and apartment rent cost growth.
San Diego stood out in the report in a number of other key areas:
- The metro experienced the second-fastest momentum change (10.2 percentage points) across all 50 markets
- San Diego ranked 14th in population growth of people in their 20s (5.6%)
- San Diego placed 7th in tech labor market competitiveness, after SF Bay Area, Seattle, Denver, Austin, Madison and Atlanta.
- With 73,170 total tech jobs, San Diego has the 20th largest tech talent labor pool out of all 50 markets.
- San Diego ranked 7th in highest tech wages with an average salary of $106,047, 10% above the national average.
- San Diego has the 9th most expensive estimated one-year operating costs (wage and rent obligation) for a sample tech firm
Top 10 tech talent markets by momentum change:
“San Diego’s horizon in the tech industry is incredibly positive,” said Andrew Ewald, first vice president at CBRE’s San Diego office. “We continue to see a diversification in the tech sector, with growth in SaaS development, robotics, autonomous driving and medical-related technologies. This diversity, coupled with an increase in VC spending and lower cost of living compared to other markets, positions San Diego as a great region to grow a technology focused business.”
CBRE’s interactive Tech Talent Analyzer found the San Francisco Bay Area, Seattle, Denver and Austin to be the most competitive markets to hire tech talent based on labor market supply/demand, wage costs and talent quality.
View the full report Here. To view individual market statistics and rankings, including rankings on the Scorecard, access CBRE’s Tech Talent Analyzer.