Florida Cities Rank as Top Markets in CBRE’s Annual ‘Scoring Tech Talent’ Report

South Florida, Tampa, Orlando, and Jacksonville each ranked in CBRE’s annual Scoring Tech Talent report, a comprehensive analysis of labor market conditions, costs and quality in North America for highly skilled tech workers.

CBRE’s annual Scoring Tech Talent report covers 75 North American markets, ranks the top 50 tech markets in the U.S. and Canada and outlines tech talent labor market trends amid economic shifts and increased remote hiring. CBRE also ranks the Next 25 emerging tech markets on a narrower set of criteria. Tech talent is defined as a group of highly skilled workers in more than 20 technology-oriented professions – such as software engineers and systems and data managers – across all industries.

Overall, the U.S. and Canada added 231,400 tech talent jobs in 2023. The number of U.S. tech talent workers increased 3.6% last year, down from 7.3% in 2022 as the economy cooled. Software developers and programmers across all industries accounted for 72% of the new tech talent jobs last year, with hiring of artificial-intelligence specialists particularly robust.

“Many of Florida’s fast-growing cities present the desired characteristics for technology employers and employees, and it’s a safe prediction to anticipate many of these markets will continue to move up the rankings as they gain economies of scale,” said Josh Bank, Executive Managing Director and Florida market leader for CBRE.

#27 South Florida moved up four spots from last year and stood out in several other key areas:

• From 2018 to 2023, South Florida’s tech talent workforce grew by 9,870 professionals to a total of 80,650 professionals, a 13.9% increase.
• South Florida’s average wage for tech talent in the tech industry was $100,036 in 2022 – the highest across the Florida markets.
• South Florida’s average wage for all tech jobs grew by 33.5% from 2018 to 2023.
• The market created more tech graduates (14,969 from 2018 to 2022) than tech jobs (9,870 from 2019 to 2023) – the highest number of jobs across the state. 
• South Florida registered double-digit percentage increases of residents in their 30s with college degrees (15.0%) between 2017 to 2022.
• South Florida ranked among the most diverse markets for underrepresented (Hispanic, Black and Other Non-White/Non-Asian people) tech degree graduates.
• The average one-year cost for operating a 500-employee tech company occupying 60,000 square feet in South Florida amounts to $51.2 million. South Florida ranks in the middle of the top 50 markets by this measure.

#30 Tampa moved up three spots from last year. Highlights include:

• From 2018 to 2023, Tampa’s tech talent workforce grew by 7,750 professionals to a total of 59,650 professionals, a 14.9% increase – the largest percent increase across the Florida markets.
• Tampa’s average wage for tech talent in the tech industry was $96,559 in 2022.
• Tampa’s average wage for all tech jobs grew by 25.3% from 2018 to 2023.
• The market created more tech graduates (9,213 from 2018 to 2022) than tech jobs (7,750 from 2019 to 2023). 
• Tampa registered double-digit percentage increases of residents in their 20s (29.2%) and 30s (40.1%) with college degrees between 2017 to 2022.
• The average one-year cost for operating a 500-employee tech company occupying 60,000 square feet in Tampa amounts to $51.2 million. Like South Florida, Tampa in the middle of the top 50 markets.

#32 Orlando fell four spots from last year. However, the market had the highest number of tech graduates across the state. More key stats are below:

• From 2018 to 2023, Orlando’s tech talent workforce grew by 5,660 professionals to a total of 49,570 professionals, a 12.9% increase. Orlando has largest number of total workers among small tech markets (with workforces of 50,000 or fewer).
• Orlando’s average wage for tech talent in the tech industry was $83,889 in 2022.
• Orlando’s average wage for all tech jobs grew by 17.9% from 2018 to 2023.
• The market created more tech graduates (15,203 from 2018 to 2022) than tech jobs (5,660 from 2019 to 2022) – the highest number of graduates across the state. 
• Orlando ranked among the most diverse markets for underrepresented (Hispanic, Black and Other Non-White/Non-Asian people) tech degree graduates.
• Orlando registered double-digit percentage increases of residents in their 20s (40.0%) and 30s (38.7%) with college degrees between 2017 to 2022.
• The average one-year cost for operating a 500-employee tech company occupying 60,000 sq. ft. in Orlando amounts to $48.4 million. That makes Orlando the 14th least expensive market among the top 50.

#42 Jacksonville moved up two spots from last year and stood out in several other key areas:

• From 2018 to 2023, Jacksonville’s tech talent workforce grew by 1,370 professionals to total 24,960 professionals, a 5.8% increase.
• Jacksonville’s average wage for tech talent in the tech industry was $97,405 in 2022.
• Jacksonville’s average wage for all tech jobs grew by 32.1% from 2018 to 2023.
• The market created more tech graduates (2,252 from 2018 to 2022) than tech jobs (1,370 from 2019 to 2023). 
• Jacksonville registered double-digit percentage increases of residents in their 20s (22.0%) and 30s with college degrees (40.3%) between 2017 to 2022.
• The average one-year cost for operating a 500-employee tech company occupying 60,000 square feet in Jacksonville amounts to $49.2 million. Jacksonville is the 16th least expensive market among the top 50.