CBRE, in their recent report titled Tech30 2020 measured the impact of the tech industry on the U.S. micro-markets.

Some interesting findings–

1. The technology industry, as a whole, has seen an unprecedented contribution to job creation in the last decade, adding 1.5 million jobs. The heavily financed industry acts as a strong driver for the national economy.

2. Despite work from home policies, there is a positive trend for technology job growth. This growth is, in turn strongly correlated with office rent growth. Cities such as Seattle, New York, Silicon Valley, Dallas are the most benefitted.

3. Tenants in technology submarkets are willing to pay more for premium quality offices as compared to other commercial tenants, thus creating greater asking rent.

4. Risk related to the saturation of the micro-market with respect to the tech industry growth is \’moderate\’ for technology office markets across the high-tech cities.