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October 2013

Best Tech Regions

Seattle Ranks 4th

NWREporter, October 2013

The Seattle-Puget Sound area is the fourth best tech region in the nation, according to real estate firm Jones Lang LaSalle. Three areas around San Francisco led the rankings. Portland was 16th.

In its third annual high-tech office outlook, JLL compared 26 markets using four primary factors:

  • overall high-tech employment
  • amount of venture capital funding
  • number of patents
  • number of tech workers as a percentage of people with college degrees

A company representative said employment metrics are weighted most heavily in its rankings.


The report also singled out a few regions, notably Atlanta and Chicago, as promising emerging markets with tech-fueled growth. The authors estimate for each "innovation" job, five additional jobs are created, but for every manufacturing job, just 1.7 additional jobs are created.

According to Jones Lang LaSalle, the country's top 12 tech markets (see chart) accounted for 23 million square feet of new office space -- almost half of all new office space in the country.

Top 12 Tech Regions

Region

Weighted Score

San Francisco

81.2

Silicon Valley

78.7

San Francisco Peninsula

77.0

Puget Sound

66.8

Boston

61.4

Austin

58.8

Washington, D.C.

56.8

Atlanta

50.3

Raleigh-Durham

49.2

Denver

47.4

New York City

45.3

New Jersey

44.6

Another ranking, published shortly before the JLL survey, measured the concentration of startup companies to determine tech strength. In that survey, the Puget Sound area tied for fourth with Cambridge, Mass., and Denver.