Click here to view with images.
To ensure delivery to your inbox, please add to your address book.
Tampa ranks in top ten U.S. markets in tech talent growth and "brain gain"
JULY 26, 2021
Adding to the long list of accolades for Tampa is the recent release of CBRE's 2021 Scoring Tech Talent report, which saw Tampa rank ninth among U.S. markets in tech talent growth over a five-year span from 2016 - 2020. In addition, Tampa was one of only 16 markets in the report and one of only nine in the U.S. to have a positive "brain gain," illustrating that Tampa acts as a job creator, supplying jobs to tech workers that could not find employment in their metro of origin.
Figure 1: Tech Talent Growth Rates by %, 2016-2020, Top U.S. Tech Markets
Source: CBRE Research, Q2 2021
Like many markets in the southeast, Tampa is a cost-efficient market. Assuming a 75,000 sq. ft. office space and 500 employees, Tampa's tech firms can expect savings of around 38% below the top cost market, when figuring for office rents and wages for tech talent, support staff, and management. 
Figure 2: Estimated One-Year Company Costs in Millions of $, Top U.S. Tech Markets
Source: CBRE Research, Q2 2021
Tech company expansion is good for the office market. At 17%, the high-tech industry's share of total office leasing in the U.S. remains the highest of any single industry. 

This trend is also on display in Tampa. recently signed a lease for 103,000 sq. ft. of office space in the Westshore submarket, their first outpost within Tampa. The secure digital identity network plans to hire 500+ persons by the end of 2021. The FinTech company CrossBorder Solutions is moving their HQ to Florida from New York, leasing around 30,000 sq. ft. of space in St. Petersburg. They plan to hire 300 new employees over the next 12 months. Finally, in January the cybersecurity solutions provider OPSWAT announced that they have moved their corporate headquarters and operations from San Francisco to Tampa, where they plan on adding 100 persons to their workforce over the next three years. 

The Scoring Tech Talent report also showed that Tampa scored well in the population gain of millennials, a generation which represents the majority of the tech talent sector. Of all U.S. markets, Tampa ranked 8th regarding the percentage gain of millennials since 2014. With the pandemic accelerating migration trends in Sun Belt markets, this growth is likely to continue and will provide talent for the Tampa tech industry for years to come.
Brandon Isner
Associate Director of Research
CBRE Americas Research
+1 305 381 6407 | LinkedIn | Twitter
CBRE Research

You may also unsubscribe by calling toll-free +1 877 CBRE 330 (+1 877 227 3330).

Please consider the environment before printing this email.

CBRE respects your privacy. A copy of our Privacy Policy is available online. For California Residents, our California Privacy Notice is available here. If you have questions or concerns about our compliance with this policy, please email or write to Attn: Marketing Department, Privacy Administrator, CBRE, 200 Park Ave. 19-22 Floors, New York, NY 10166.

Address: 950 Main Avenue, Suite 200 Suite 700, Cleveland OH 44114

© 2024 CBRE Statistics contained herein may represent a different data set than that used to generate National Vacancy and Availability Index statistics published by CBRE Corporate Communications or CBRE's research and econometric forecasting unit, CBRE Econometric Advisors. Information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. This information is designed exclusively for use by CBRE clients, and cannot be reproduced without prior written permission of CBRE.

CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.

Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.

Licensed Real Estate Broker

All of CBRE's COVID-19 related materials have been developed with information from the World Health Organization, the Centers for Disease Control & Prevention (and similar global organizations), public health experts, industrial hygienists, and global subject matter experts across CBRE and our strategic suppliers. Our materials may not be suitable for application to all facilities or situations.

Ultimately, occupiers and landlords must make and implement their own reopening decisions for their individual stakeholders and facilities. CBRE's guidance is intended to help facilitate those discussions and expedite the implementation of those decisions once made by the client. We make no representations or warranties regarding the accuracy or completeness of these materials. CBRE cannot ensure safety and disclaims all liability arising from use of these materials.