November 13, 2024
Tech-30 2024
Tech-30 2024
The tech industry continues to lead job growth in office-using sectors, with AI emerging as a significant catalyst for future demand in key markets. AI-driven investments and venture capital funding are on the rise, particularly in the San Francisco Bay Area, suggesting future growth potential.
Key takeaways:
- High-tech job growth: Toronto, Nashville and Dallas-Ft. Worth are top performers in high-tech job growth, with Toronto creating 17,600 new jobs with a 10.5% growth rate from 2022–2023
- AI in the driver’s seat: AI is predicted to spur future job growth and office demand, with AI-related job postings increasing from 9% of total tech talent job openings in 2023 to 21% in 2024
- Office market stabilization: Most Tech-30 office markets are stabilizing, but tech submarkets face higher vacancies due to recent industry downsizing efforts
- Investors are returning: Rising venture capital funding and the Nasdaq stock index’s strong performance are indicators that tech industry growth is likely to accelerate. AI captured 35% of VC funding in H1 2024
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