If you’re a technology company facing a real estate decision now, or in the near term, you’re likely looking at a challenging marketplace. JLL research reports:
- Competition for a limited talent pool is fierce.
- Competition for a great location, also fierce.
- Once you’ve picked a location, finding the right space is also tough.
- And when you do find one, their asking rent is high – REALLY HIGH.
Emerging tech locations offer affordable, talent-rich alternatives to established tech markets
Don’t let us lead you astray, however. Despite the current challenges, there remain many opportunities—if you know where to look. To uncover new possibilities, JLL looked at markets with the following dynamics:
- A high concentration of software developers, computer programmers, or web developers (and at least 5,000 employed in such occupations)
- Some remaining slack in employment
- Vacancy rates that mean there’s still supply to choose from
- Markets that have new developments under construction
What may surprise you is that the markets with the highest concentration of computer programmers are not necessarily the markets with the highest concentration of software developers. In fact, out of the top ten only five markets appear on both lists: Silicon Valley, San Francisco, Seattle, Washington, DC, and Austin. While these markets come as no surprise, the other markets that comprise the top ten will, including:
- Albany, NY
- Sacramento, CA
- Columbus, OH
- Colorado Springs, CO
- Madison, WI
Find out why they made the list and more about what tech companies should be looking for in JLL’s report “Cracking the Hardest Code: Where to Find Tech Talent“.