By Robert Sammons, Regional Director – Northwest U.S. Research
Cushman & Wakefield released its inaugural tech report this week – Tech Cities 1.0. It’s a look at the top 25 tech markets across the U.S. as ranked by a combination of several metrics including capital (VC funding), institutes of higher learning, knowledge workers, tech workers, education attainment and growth entrepreneurship. There are some of the usual suspects on the list and quite a few surprises too.
Now these ranking reports can be tricky to put together. One has to decide how to even begin the process; which metrics to use; how to weight them. Our objective was to stick with a more scientific method to this first report in trying to avoid the seemingly unavoidable subjectivity. We started with the 100 largest metro areas in the country and winnowed it down from there. But believe me, it wasn’t as simple as that may have sounded. Our team across the nation really worked hard on this report to provide a well-structured analysis and a deeply thought out list.
Honestly, the one takeaway more than any other is probably that this list will change over time just as tech is changing constantly. My mantra, particularly since relocating to San Francisco and seeing it here in its global capital, is that tech is moving into every sector of every industry across the planet. And that really isn’t going to stop folks. What may change is where tech industries are located and how people work in that tech sphere. That’s why we’re going to be very diligent about keeping on top of the data for all the markets across the country, not just these top 25.
So read on – I’m sure you will all have your own opinions as to the rankings and why certain markets are not (yet?) included and why others are. Dare I say it might be slightly controversial? Hey that’s a good thing to me. It’s a great launch pad for much more discussion and reporting to come. In fact, I’d love to welcome your thoughts or questions on this report, so please reach out to me if you wish.
This post is guest commentary from the latest weekly edition of our Bay Area Research Rant, which you can subscribe to for free by e-mailing email@example.com.
Robert Sammons is a Research Director for Cushman & Wakefield. Based in San Francisco, Robert’s principal roles include working closely with the C&W research teams across the Northwest – including Northern California, Portland and Denver. Robert is author of numerous documents that delve into a wide variety of real estate and economic trends. He has been a quoted source for all manner of real estate and related economic information in many widely known media outlets across the country. Robert has 29 years of real estate experience as both an appraiser and researcher. He earned a BBA in Real Estate from The University of Georgia and an MS in Real Estate from Georgia State University. Robert is a member of the Urban Land Institute.