Feb 10, 2017, 1:02 PM
Tech accounts for 35% of all market leasing activity
A great place to live with strong market fundamentals, Portland’s become a highly desirable location for tech companies looking to expand.
Out-of-market firms see the market’s 4% lower cost of doing business (compared to other major West Coast markets) as a great place to start.
And then its 21.2% millennial population and educated population—with 36.2% of the population ages 25 and older holding Bachelor’s degrees (or higher)—as additional drivers for planting roots within city limits.
But with all these favorable numbers naturally comes competition. Fortunately, Portland’s talent is spread out. Instead of one or two employers hoarding all the best talent, we’ve seen balance across the entire market.
Craig Reinhart, JLL’s Managing Director of the Technology Practice Group, has more on Portland’s talent pool and why these big thinkers are making the city an industry hot spot:
Note: Numbers in the article have been updated to reflect the most recent available data (Q4 2016).
Research and author: Patricia Raicht, Tim Harrison | Editor: Michael Cronin