Tech Talent is Flocking to Philadelphia. Here's Why.
Tech talent clustering is driving demand for office space around the country, a process well underway in Philadelphia. According to a new report from CBRE, Philly ranks No. 19 on the overall tech talent list, and No. 1 when it comes to gender diversity, with 31% of the tech talent occupations in the market held by women.
"We see companies putting down roots in tech clusters throughout the greater Philadelphia area," CBRE's Lauren Koshgarian tells us. In the city, tech firms cluster to access Millennial talent, creative space, live/work/play neighborhoods, and Keystone Innovation Zones, she says. The report also ranks Philadelphia as a top five market for Millennial population growth, a characteristic shared by strong tech talent markets across the country.
The appeal of the area isn't confined to the city, Lauren adds, with local tech sector growth positively impacting the entire area's commercial real estate market. "In the suburbs, tech companies cluster around public transit, talent, lower business taxes and established firms in the area, which can potentially lead to merger and acquisition opportunities," she says.
