Huntsville ranked as the #1 emerging tech market
According to a recent report from a prominent global investment firm, Huntsville stands tall as a top-tier emerging tech hub. The analysis by CBRE Group underscores how technology’s growing influence in business and society has spurred a worldwide surge in tech talent pools.
As a result, tech employers are increasingly adopting distributed labor strategies to tap into innovation potential and boost efficiency.
In this evolving landscape, nurturing talent in lesser-known and underdeveloped markets in the United States and Canada presents an exciting opportunity. It opens up fresh talent reservoirs for employers looking to expand their geographic footprint and discover new avenues for growth.
The CBRE report meticulously evaluated data and ranked the top 50 markets based on their relative strength. Interestingly, the majority of these emerging markets were concentrated in the Midwest and South regions of the United States.
Within this cohort of 25 emerging markets, Huntsville firmly secured the first position in terms of total tech employees in 2022, boasting an impressive 23,620 tech professionals. Colorado Springs, in the second spot, followed closely with 23,440 tech workers.
The data also revealed Huntsville’s remarkable tech growth rate of 14% over the past five years, accompanied by a substantial 13% increase in total tech wages during the same period. Notably, Huntsville’s average tech employee earns a competitive salary of $96,000, eclipsing Colorado Springs’ $90,000 average wage, placing Huntsville firmly in the lead.
These rankings were meticulously determined based on a comprehensive evaluation of 13 key metrics, drawing data from reputable sources such as the U.S. Bureau of Labor Statistics (Metro) and Statistics Canada (Metro) from April 2023.
It’s worth noting that CBRE Group, a global leader in commercial real estate services and investment, boasts a vast network of over 115,000 professionals spanning across more than 100 countries, making it a trusted authority in the industry.
For more information and to read the full report, please visit www.cbre.com.
