By: Clint Miller, Executive Managing Director
Throughout this and most other business cycles, we hear that tech cities have outperformed other markets by virtually every relevant economic and commercial real estate (CRE) metric, including GDP, jobs, absorption, rents, and more.
But what exactly is a tech city?
In a new Cushman & Wakefield report, our research team explores tech cities in the U.S., including big players today and those to watch, taking a close look at market drivers in an effort to distinguish tech cities across the U.S. This includes:
- Tech Stew: what key characteristics of an environment support, nurture and promote the formation of a tech city
- Tech Metrics: how do we measure universities, capital, tech workers, knowledge workers, educated workers, and entrepreneurship
- Tech 25: top markets to watch.
Spotlight: Minneapolis & St. Paul
In the report, Minneapolis/St. Paul was ranked the 11th tech city but was ahead of Los Angeles, Chicago, and New York. To provide local insight, CWN’s Senior Director Jim Montez was interviewed on Twin Cities’ WCCO radio following the release of this report. Jim noted Twin Cities’ rich innovation in tech history (we invented the pacemaker), Amazon’s big move and the upcoming Superbowl as noteworthy factors in Twin Cities’ growing tech market. Click here to listen to the podcast.
Download the Tech Cities 1.0 report here to see what cities make the top 10 and which ones are coming up behind us. Contact Cushman & Wakefield NorthMarq via email@example.com to discuss your commercial real estate obstacles and how we can help you overcome them.