Denver Moves Up 2 Spots In Tech Talent Report
Metro Denver moved up two spots to No. 8 on CBRE’s annual “Scoring Tech Talent” report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent.
The Denver/Boulder region added more than 25,000 tech jobs over the past five years, surpassing the tech talent produced from local universities by 6,500. With tech job creation outpacing the local supply of talent, the region has seen an influx of tech workers from other states, as well as rising labor costs and increased competition to attract and retain employees.
“Our high-quality labor force has been without question the top factor attracting tech firms to the Denver/Boulder region over the past decade,” CBRE Senior Vice President Alex Hammerstein said. “As new tech companies have opened offices in Colorado and existing firms have expanded, tech jobs are being created at a faster pace than ever before. The good news is an abundance of opportunity helps us continue to attract the nation’s top tech talent. When today’s tech worker looks at Denver, they do not see a professional pit stop, they see a long-term career destination.”
Colorado stood out in the report in several other key areas:
- Greater Denver, including Boulder, is the 13th-largest tech talent market in North America with a labor pool of 107,170. It is also one of the most tech-centric markets with tech representing 6.5% of total employment, compared to the national average of 3.7%
- The urban centers of Denver and Boulder are the fifth-highest markets for educational attainment with 53% of residents holding a bachelor’s degree or higher.
- Denver/Boulder is classified as a “brain gain” market because in the last five years, the region had an inflow of 6,500 more jobs than tech graduates.
The report also highlighted Colorado Springs as an up-and-coming North American tech market. The city has seen 14% tech employment growth over the past five years, with its tech workforce now reaching 17,290 employees.