Office space devoted to tech jobs rises in Colorado

by | Oct 19, 2020 | Blog, Relocating to Denver | 0 comments

As more Coloradans are employed in tech jobs, the office space to accommodate them has jumped in the last two years.

Colorado ranked number 2 for job growth in the tech field, according to a CompTIA study reported by the Denver Business Journal.

Another study from the commercial real estate services and investment firm CBRE found that the number of Coloradans in tech jobs increased 57% from 2010 to 2019. In Denver, that number is even higher at 66%. A total of 139,000 workers are employed in tech jobs statewide.

The space to accommodate these workers has, not surprisingly, grown as well. Office space occupied by tech workers increased 23% in the last two years, leaving a large footprint in the Front Range area. For example, approximately 43% of the Boulder-Broomfield occupied office space is taken by tech firms, according to the Denver Business Journal. In Denver, that number stands at about 13%.

Statewide, software companies account for 30% of the tech footprint, while hardware takes up 32%.

And more tech jobs are on the way. Palantir Technologies Inc., a $20 billion data-analysis software company recently announced it was moving its headquarters to Denver. Amazon has also reported that it would add 100 tech jobs in the city. Other companies have recently announced expansions as well, including Marqeta, Ltd.

According to CBRE, total space leased by the tech industry in Colorado has increased from 17.4 million square feet in 2018 to 21.4 million square feet in 2020.

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