Charlotte grew its tech talent pool at the fastest pace, and, for the first time, moved up into the large-market bracket in CBRE’s sixth-annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent.
Charlotte has a tech talent labor pool of 54,200, or 4.6 percent of its total employment, compared to the national average of 3.5 percent. The city grew its tech talent pool at the fastest pace of all 50 markets, increasing by 59 percent in the last five years (2012-2017).
Many notable technology hubs such as San Francisco are observing constraining talent growth as costs increase and economic conditions worsen. This is also noted in a recent study from JLL, which notes that the Carolinas are benefitting as a gateway market for real estate investors from markets such as San Franscio, New York and other costly areas.
According to the report, there are less available properties in primary markets. In response investors are casting a wider net for value, growth-oriented acquisitions. Secondary markets accounted for 50 percent of all office transactions in 2017.
CBRE’s Tech Talent Report and JLL Research Capital Analytic reports show very strong signs for the Charlotte real estate market in both short-term and long-term horizons.
Here at Camuso CPA, we do have the ability to offer tax preparation and planning services to our real estate clients. If you are interested into how this might benefit your business or portfolio, please don’t hesitate to give us a call today. One of our friendly and knowledgeable representatives will be happy to answers any questions you have.