While not at the forefront of technology talent markets, the Tampa Bay area's ascent is evident in the latest CBRE report.
According to the report, Tampa ranks 30th for tech talent, up three spots from last year. The report analyzes the tech workforce in 50 of the largest U.S. and Canadian markets.
There’s a growing demand for tech professionals, and the report highlights a significant 14% increase in tech job postings in Tampa over the past year. The report also underscores the growing pipeline of tech talent in Tampa, driven by local educational institutions and training programs that are increasingly focused on technology and the area’s increase in venture capital funding.
“Many of Florida’s fast-growing cities present the desired characteristics for technology employers and employees, and it’s a safe prediction to anticipate many of these markets will continue to move up the rankings as they gain economies of scale,” said Josh Bank, executive managing director and Florida market leader for CBRE.
The top three markets for tech workers remained the same as in 2023: the San Francisco Bay area, Seattle and the New York metropolitan area. Toronto moved up a slot to No. 4, followed by Austin, Texas. Washington, D.C., fell two spots to No. 6 because of slower job growth, according to CBRE.
Other Tampa-specific takeaways
- From 2018 to 2023, Tampa’s tech talent workforce grew by 7,750 professionals to 59,650 professionals, a 14.9% increase – the largest percent increase across the Florida markets.
- Tampa’s average wage for tech talent in the tech industry was $96,559 in 2022.
- Tampa’s average wage for all tech jobs grew by 25.3% from 2018 to 2023.
- The market created more tech graduates (9,213 from 2018 to 2022) than tech jobs (7,750 from 2019 to 2023).
- Tampa registered double-digit percentage increases of residents in their 20s (29.2%) and 30s (40.1%) with college degrees between 2017 and 2022.
- The average one-year cost for operating a 500-employee tech company occupying 60,000 square feet in Tampa amounts to $51.2 million. Like South Florida, Tampa is in the middle of the top 50 markets.
- Software engineers are highly concentrated in the tech industry and the most in-demand skill by tech employers
- Demand is surging for artificial intelligence specialty tech talent
Find the full CBRE report here.
