The Los Angeles technology sector has seen extensive growth in recent years, and continues to be the catalyst for economic expansion. While the market is still seeing the southward migration of Silicon Valley giants, home-grown technology startups have flourished and are contributing to the industry’s local expansion. As media and technology further intertwine, the preexisting film and television talent and infrastructure in Los Angeles are playing key roles in the success of new media via content creation. The skilled local labor force and storied history of creativity bode well for future growth of L.A.’s tech sector.
Recruitment and retention remain a top priority within the Los Angeles technology community. As tech salaries rise, employees’ expectations have also increased. Creative office build-outs and company provided amenities have become commonplace, forcing employers to push the envelope in search of unique incentives. Space requirements have also become a challenge as tech industry-preferred micro-markets are filling up, pushing some to look outside of what would be considered the boundaries of “Silicon Beach”. Construction starts have accelerated and should help to relieve pent up demand.
Download JLL’s newly released national 2016 Tech Office Outlook and learn the 10 most important tech trends to watch in 2017.
For more information contact Devon Parry.