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Our proprietary high-technology office market score takes into account key metrics to determine where each U.S. market included in this report stands in the high-technology office growth cycle based on employment growth, high-tech office employment concentration, and innovation and investment trends. The
high-technology office cycle clock is a visual representation of where each U.S. market in this report stands relative to the others in the current cycle. Market positions on the two left quadrants of the clock indicate strong momentum in most—if not all—categories measured to produce an overall score. Markets placed in the two right quadrants of the clock are those that have metrics with room to improve.
We consider the following metrics to be key drivers of high-technology industry growth, and have weighted each category to derive a total score for each market:
High-tech job growth: broad measure of economic success and job creation
High-tech services concentration: measures jobs in the industry that fall within office-using employment sectors as a percentage. Larger concentrations have greater impact on office space demand when changes to employment occur, providing a strong indicator of how the high-tech industry in each market could move real estate.
Share of U.S. venture capital funding:measures the impact venture capital funding has on the industry in each market, and the potential for company growth and new job creation.
Intellectual capital: measures the availability of skilled labor for each market, quantified by the percentage of people 25 or older with a bachelor’s degree or higher.
Innovation: measures utility patents granted in each market as a leading indicator of new inventions or ideas.