April 15, 2019

Technology companies account for more than half of the NASDAQ's market capitalization, and rising valuations enable them to further expand their workforces and businesses. As a result, national high-tech industry employment is highly correlated with the NASDAQ index. Since 2009, the U.S. high-tech industry added 1.3 million jobs to the economy, growing 53% - nearly four times the 14% national average. This strong employment growth boosted tech occupancy across the U.S. with the three fastest growing regions expanding tech occupancy by 129 million sq. ft. The San Francisco Bay Area doubled tech occupancy, adding 100 million sq. ft. while Seattle added 16 million sq. ft. and New York City added 13 million sq. ft. Since the NASDAQ leads tech industry employment by one year it appears job growth will further increase and advance notice will be provided should a slowdown occur.

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