JLL: Austin No. 5 in U.S. high-tech markets

AUSTIN – The Austin area is ranked fifth in the nation for its high-tech market, according to the 2014 JLL High-technology Office Outlook report.

The report ranks metropolitan areas based on high-tech growth, high-tech wage growth, high-tech services concentration, share of U.S. venture capital funding, intellectual capital, innovation and market dynamism.

The Austin area was given a weighted score of 58.5. Topping the list was San Francisco with a rating of 84.6, followed by Seattle-Bellevue (71.4), Silicon Valley (70.6) and New York (58.7).

The report noted that Austin has 65,010 high-tech sector employees, up 8.3 percent from 2013. The average high-tech wage in Austin is $100,431, with annual wage growth in 2013 of 8.3 percent.

The JLL report gave Austin high marks for its pro-business environment and quality of life, with its growing access to accelerators and incubators.

It also reported an average rent of $30.44 per sf and noted that due to the fierce competition for workers, high-tech companies are investing heavily in amenities in office spaces.

The Dallas area, which includes Dallas proper and surrounding suburbs north of Fort Worth, also ranked tenth.

For the full report, see JLL.