A new report by the jobs website Dice found that Jacksonville is one of the best markets for job growth in the tech sector in the country. Dice’s study found that Jacksonville’s tech job postings grew in September and October of 2020 faster than nearly every other city in the United States.
Job postings in the tech sector grew at a 17% clip in the two months in Jacksonville, which was tied with Tempe, AZ for the 3rd fastest growth rate. Only San Jose, CA and San Antonio, TX posted bigger percentages in the same span.
Miami was ranked 10th in the article, however Florida’s job additions in tech dropped 5% statewide.
How does tech growth in Jacksonville impact the commercial real estate industry? The numbers are very encouraging. The Wall Street Journal recently looked at the impacts of tech companies like Google and Apple on commercial real estate. The five largest tech companies in the United States occupy 589 million square feet of office space. Most of the offices have more of a campus environment, with buildings spread out over wide stretches of land, with parks and walking trails in between.
Even as more people in the tech sector begin to work from home due to the pandemic, tech’s investment in real estate has been a boon for cities. Even if some of the tech jobs become permanent work-from-home positions, campuses tech companies like to develop, are far from going the way of the dodo bird. In fact tech companies are driving the reshaping of office space, helping to innovate what the “new normal” will look like in offices when the pandemic comes to a close.
Jacksonville’s investment in tech has proved to have major benefits. Not only does it help grow modern jobs, and bring in an educated workforce, but the office rental spaces will continue to help grow the commercial real estate industry. This makes the entire Jacksonville metro one of the most desirable commercial investing opportunities in the country.
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