Madison is adding tech jobs at a faster rate than almost any city in the United States, according to a new report from commercial real estate firm CBRE.
Madison is the third fastest growing market for tech talent in North America and the second in the U.S., behind only Ottawa and Los Angeles. CBRE examined tech job growth in 50 cities across the U.S. and Canada, ranking markets by both overall tech talent and rate of job growth.
Rounding out the top 10 fastest growing tech talent markets were Orange County, CA; Pittsburgh, PA; Richmond, VA; Hartford, CT; Cleveland, OH; Seattle, WA and Ft. Lauderdale, FL.
CBRE measured job growth by looking at the rate of jobs added during 2016 and 2017 compared to the prior two years.
Overall, Madison was named the 35th best city for tech talent, outpacing other cities like St. Louis (36), Cleveland (39), Cincinnati (42), Nashville (45) and Miami (50). Milwaukee also landed on the list, coming in at No. 43.
Madison scored high marks in the report when it came to education. In terms of “educational attainment,” which the study measured as the percentage of residents over 25 that hold a bachelor’s degree or higher, Madison was the second highest city at 60 percent. Only Seattle scored better than Madison, with 63 percent of its residents holding a bachelor’s degree or higher.
Madison also had the highest concentration of millennials as a portion of its urban population (26 percent). Brain drain was a concern for Madison, according to the report, as it added 400 fewer tech jobs over the last five years than tech degrees given. But it faired better than other markets like Washington, D.C., Boston, Los Angeles and Chicago, who all saw much more significant brain drain, according to the report.
You can read the full report here.