Bay Area Remains at the Top of the Tech Heap

Demand for tech-enabled services from Bay Area-based firms has grown during the COVID-19 pandemic as staying and working from home became a necessity. Consequently, Bay Area tech firms are leading the economic recovery and will have even greater growth opportunities for tech-enabled services accelerated by the COVID-19 disruption.

As a result, San Francisco retained its position as the number one market on CBRE’s 2021 Scoring Tech Talent report as North American tech employment weathered the pandemic better than most other professions. The Bay Area has the largest tech talent labor pool nationally with 373,430 tech workers, a 16.4 percent increase from 2015. Tech talent employment accounts for 10.9 percent of total jobs in the Bay Area, almost triple the 3.9 percent national average.

“Despite headwinds caused by the global pandemic, Bay Area tech employers were able to pivot and respond to new business dynamics; that’s why it remains the global innovation capital,” said Luke Ogelsby, CBRE executive vice president. “With tech offices reopening, record venture capital investment and a welcoming IPO market, the Bay Area economy has ample fuel to further extend the rebound already underway for many years to come.”