ORANGE COUNTY, CA—In short, a better lifestyle is driving young, highly educated, motivated, balanced and successful tech talent to the Orange County market, Alex Hayden, EVP who leads CBRE's tech and media practice in Orange County, tells GlobeSt.com. We spoke with Hayden exclusively after the release of his firm's national report on tech talent, which revealed that Orange County had a 31% growth in tech talent since 2012, making it one of the top-10 “momentum markets” for tech-driven office leasing demand.
GlobeSt.com: What is unique about the type of tech talent that is attracted to Orange County?
Hayden: A lot has to do with the type of culture the tech companies are trying to create. OC fits the prototype of highly educated, motivated, balanced and successful employees. The location can be the ultimate draw for companies: “Come work for my fast-growing, exciting tech company. We are located in a perfect area where you can surf and ski, enjoy shopping and nightlife and live in a great community.” Easy sell!
GlobeSt.com: What is being done to bring in and retain this type of talent in the region?
Hayden: Higher-paying jobs and nearby affordable rental housing.
GlobeSt.com: How do you see this sector growing in Orange County in the future?
Hayden: We see continued desire from the employers to be in this locale due to the lifestyle that matches the desires of the Millennial employee. The biggest issue is the cost and availability of affordable housing; yet, many of the new multifamily developments are going up to offset this, much of which is being built by the Irvine Co.
GlobeSt.com: What else should our readers in know about tech talent in Orange county?
Hayden: When compared to other cities that the report identifies as top tech-talent markets both around the country and here on the West Coast, the Orange County lifestyle has advantages. Housing is less expensive than in markets like the Bay Area and New York, commute patterns are shorter, office space is less expensive and lifestyle activities such as surfing, skiing and L.A./San Diego nightlife are all within an hour's drive. Companies looking for talent are recognizing these things and are making a larger commitment to Orange County.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
