2020 was a tough year for many Americans and local economies. Businesses were forced to move from in-person sales to online transactions, and many were forced to shutter permanently. The tech sector, however, has shown resilience through the pandemic with employment rising nearly 1 percent last year. This compares to a nearly 6 percent decline in administration and sales positions, and a 5.5 percent decline in non-tech occupations.
While some industries — like restaurants and airlines — are still recovering from the pandemic, the tech sector seems primed for growth.
According to real estate giant CBRE’s “Scoring Tech Talent” report released earlier this week, the Bay Area and Seattle are the best areas for tech talent. Denver also made the top 15, coming in at 12th place nationally.
The report identifies which North American markets have the largest tech talent pools and which markets are experiencing the highest growth. To rank these cities, CBRE used 13 metrics to analyze labor market conditions, quality, cost and attractiveness for both highly skilled tech workers and companies.
Denver dropped five spots in this year’s ranking but still experienced significant growth. Nearly 115,000 Denverites were employees in a tech role last year — a 31 percent improvement over five years ago. The average salary for these roles grew nearly 11 percent since 2015 to $107,481, according to the report.
Colorado Springs was also noted as the third (out of 25) best up-and-coming market behind Dayton, Ohio, and Huntsville, Alabama.
The Springs is already home to several big tech companies like Bold Technologies, Formstack and WOW!, and continues to grow. Over the last five years, tech in the Springs grew 21 percent and wages increased 11 percent. There were 19,380 tech jobs in the Springs last year with an average wage of $102,630, according to the report. And given the city’s proximity to Denver, it’s no surprise that this market was mentioned.