New York City Takes Third Place in 2023 Scoring Tech Talent Report

August 3, 2023 10 Minute Read

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  • According to CBRE’s 2023 Scoring Tech Talent report, the New York metro has advanced to the third highest-ranked market for tech talent in North America, trailing the West Coast tech goliaths of San Francisco (#1) and Seattle (#2).
  • The New York area has the lowest share of tech workers employed in the core high-tech industry (37%) among the ten largest tech markets. This is due to the diversity of the region’s employment base including competition for tech talent from financial and professional services firms.
  • New York’s universities produced more graduates with technology degrees (22,719) than any other market in North America by a wide margin in 2021.
  • New York’s decelerating tech employment is closely associated with a shrinking venture capital pool. New York City’s year-over-year venture capital takings contracted 64% between Q2 2022 and Q2 2023.
  • Even as venture capital declines, New York City-based companies involved in the artificial intelligence (AI) space have seen their investment volume increase dramatically. New York City’s AI firms attracted $489 million in investment in the first half of 2023 compared to $452 million for all of 2022.