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October 22, 2017
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Sacramento Ranked 10th on CBRE List of Tech Talent Momentum Markets

7/28/17

Sacramento ranked #10 on CBRE’s list of tech talent momentum markets, a measurement of the change in tech job growth, as part of its fifth annual Scoring Tech Talent Report.

The report finds that tech job growth gained momentum in 28 of the 50 markets. This means job creation grew faster in the past two years (2015-2016) compared with the prior two-year period (2013-2014). Sacramento’s tech talent pool grew 10.8 percent from 2015 to 2016, up significantly from 2013 to 2014.

The top 10 momentum markets and their associated tech talent job growth rates were:

Market Change in Momentum
(Past 2 years minus prior 2 years) Employment Growth
Past 2 Years (2015-2016) Employment Growth
Prior 2 years (2013-2014)

Madison, WI 24.8 30.2% 5.4%
Ft. Lauderdale, FL 23.4 21.3% -2.1%
Salt Lake City, UT 23.0 22.2% -0.8%
Miami, FL 19.1 22.8% 3.7%
Kansas City, MO 17.7 20.5% 2.8%
Omaha, NE 12.2 11.5% -0.7%
Columbus, OH 11.9 12.6% 0.6%
Pittsburgh, PA 11.6 12.0% 0.4%
Orange County, CA 11.3 11.8% 0.5%
Sacramento, CA 10.1 10.8% 0.7%

“This year’s report shows the top 10 markets for momentum, all moderately priced, grew at least 10 percent faster during the recent two-year period. Tech employment growth has a multiplier effect that positively impacts economic growth, which in turn can have an immense impact on commercial real estate,” said Colin Yasukochi, director of research and analysis for CBRE and the report’s author.

Sacramento also stood out in the report in a number of other key areas:

• Sacramento ranked #9 in terms of millennial population change for small markets, growing its millennial pool 7.5% (5,816) from 2010 to 2015. This accounted for 25.1% of total growth in a population of 490,715.

• Total tech degree completions grew 41.3% from 2011-2015 to 1,412 in 2015.

• Sacramento was the #4 market for gender diversity, with women making up 30% of its tech workforce, behind only Washington, D.C., Baltimore and Hartford.

• Sacramento stands out as a strong tech job creator and tech talent attractor, with nearly 2,000 more tech jobs than graduates.

• Sacramento’s office rents increased 4.7% to $21.48 and its vacancy rate decreased 9.2 percentage points to 14.5% from Q1 2012 to Q1 2017.

“What makes Sacramento so attractive as a viable alternative to the Bay Area is that businesses have a real opportunity to establish roots and immerse themselves and tap into a deeply educated and skilled workforce. It is a culturally diverse market with incredible accessibility to transportation, including air travel, as well as affordable housing options both in the urban core and suburbs without compromising quality of life,” shared Nate Cyphers, vice president, CBRE Sacramento. “Sacramento has incredible resources and a terrific foundation to build from, whether related to technology, agriculture, bio-tech, engineering or manufacturing.”






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