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Tech Sector: A Growth Story in Denver’s Still Recovering Office Market

Jonathan Sullivan • 2/28/2022
A Growth Story in Denver’s Still Recovering Office Market

Metro Denver’s Tech Sector

The Covid-19 pandemic caused more talent to disperse into secondary and tertiary markets, with talent and tech companies alike gravitating toward cities with highly educated workforces, that are more affordable than gateway markets and provide a high quality of life. The work-from-home shift became a growth driver for many tech companies, with the sector showing great resilience to the recent downturn. This is evidenced by sustained job growth throughout the pandemic, while other office using sectors combined for negative net job growth. These trends resulted in a growing share of office leasing activity by the tech sector in 2021.

Growth Drivers

The concentration of younger, well educated workers is perhaps the most appealing factor for tech companies to expand in or relocate to the Denver metro. Denver ranks fifth among the most educated metro areas nationally, with nearly 45% of the over 25 population having a bachelor’s degree or higher. This is well above the national average of 33% and falls just short of major tech hubs like Austin and Boston.

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