Nashville – July 17, 2019 – Nashville continues to show strong fundamentals in CBRE’s annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent. Among small tech talent markets – those with fewer than 50,000 tech workers – Nashville grew its tech talent pool at the seventh-fastest pace, a 28% increase in the last five years (2013-2018). Nashville has a tech talent labor pool of 29,120, or 3% of its total employment, compared to the national average of 3.7 percent. With recent announcements from major tech companies entering the Nashville market, tech talent growth is expected to accelerate in the coming years.
The city also ranked #8 among small markets by growing its twentysomething population by 5.7%, compared to the U.S. average of 2.5%. Additionally, the number of tech degree graduates were compared with tech talent job creation in each market to determine brain gains or brain drains. Nashville added 6,370 tech jobs within the last five years, a brain gain of 2,470 when compared to the number of tech degrees the market produced – that is the 14th-largest brain gain among all 50 markets, ahead of similar sized markets like Orlando and Austin.
Nashville stood out in the report in a number of other key areas:
- With an increase of 41% in office rental rates over the last five years, Nashville ranks #3 among all 50 markets, only behind Portland, and Orange County, CA.
- Nashville’s urban population shows a higher than U.S. average educational attainment, meaning the amount of people 25 years and older with a Bachelor’s degree or higher. The city’s educational attainment is at 41.2% as opposed to the U.S. average of 31.3%.
- Nashville ranks among the top 10 markets for gender diversity in tech occupations. As one of the most diverse markets, the city’s tech workforce consists of 69.8% male and 30.2% female workers.
View the full report here. To view individual market statistics and rankings, including rankings on the Scorecard, access CBRE’s Tech Talent Analyzer.
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