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Denver’s Tech Sector Seeing Sharp Up-Trend

Like much of the country, the recovery from Covid-related limitations and economic slackening are starting to show real upward signals. Denver – and its tech market – is proving that point, according to new data and analysis from Cushman & Wakefield

Denver ranks fifth, nationally, when it comes to ranking the most educated workforce – nearly 45 percent of those over age 25 have at least a bachelor’s degree. Some other key highlights, shared via news release, include:

  • The Covid-19 pandemic caused more talent to disperse into secondary markets, with talent and tech companies alike gravitating toward cities like Denver for its affordability, high quality of life and highly educated workforce.
  • Denver ranks fifth nationally among the most educated metro areas, with nearly 45% of the over 25 population having a bachelor’s degree or higher. Approximately 46% of Denver’s working age population (ages 20-69) is between the ages of 20 to 39.
  • Denver’s tech sector was one of the few sectors to actually post a net gain in jobs during the pandemic. Tech sector employment rose 3.2% from 2019 to 2021, while office using employment recorded a 2.7% decrease over the same period.
  • These employment gains have translated into a higher proportion of office leasing activity compared to other industries. In 2021, the sector accounted for approximately 20.2% of leasing activity, well above its recent five-year average of 16.7%. 

Flight-to-quality amongst tech firms has been a consistent theme in Denver, with more than 75% of activity occurring in Class A buildings and new construction as companies position themselves to better recruit and retain top talent.

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About Jason Middleton

  • ◦Economy
  • ◦Recruitment