Minneapolis is #17 on CBRE’s Tech Talent Scorecard, part of its annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent.
Tech labor concentration – or the percentage of total employment – is an influential factor in how “tech-centric” the market is and its growth potential. Minneapolis has a tech talent labor pool of 92,830, or 4.7 percent of its total employment, compared to the national average of 3.7 percent.
Minneapolis also is the #7 most concentrated millennial market at 21.3 percent of its population, ranking higher than the top five markets for tech talent in 2019, the San Francisco Bay Area, Seattle, Toronto, Washington, D.C., and New York, all large markets with a tech labor pool of more than 50,000.
“From focused education, to a thriving start-up scene, to ongoing corporate support, our community continues to benefit from its investment in the people creating the tech ecosystem of Minneapolis,” said CBRE’s Dan Peterson.
The Tech Talent Scorecard is determined based on 13 unique metrics, including tech talent supply, growth, concentration, cost, completed tech degrees, industry outlook for job growth, and market outlook for both office and apartment rent cost growth.
Minneapolis stood out in the report in a number of other key areas:
- Minneapolis’ tech talent labor pool has increased by 13.2 percent over the last five years, growing to 92,830. Non-tech occupations in Minneapolis grew by 5.1 percent over the same period.
- With a rate of 50.8 percent Minneapolis ranked #7 among the top cities for educational attainment
- Minneapolis is the leading Midwest city in the report at #17, ahead of high-ranking cities including Chicago, Detroit and Columbus.