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Tech Companies Continue to Bulk Up in LA, Driving Job Growth

Tech jobs are growing at a rapid clip in Los Angeles, fueled by an increasing appetite from local companies as well as industry leaders that are expanding their presence here.

An influx of qualified graduates from local universities is also stoking the tech job market in Los Angeles County.

That surge is impacting several aspects of business in the region, including the real estate sector, which has seen a large increase in demand for office space — even in the face of Covid-19.

“The tech sector has been largely insulated from the business challenges posed by the pandemic,” said Lawren Markle, senior communications director for the Los Angeles County Economic Development Corp. “There are some areas where it’s been more challenging, like entertainment production, but a lot of tech workers have been able to work from home.”

According to research from CBRE Group Inc., the tech sector in L.A. County added nearly 11,000 jobs between 2018 and 2019, representing more than a quarter of all office jobs added during that period.

The county’s 14.5% growth rate for tech jobs in that span eclipsed other burgeoning tech hubs like Denver and Atlanta.

The industry’s growth is driven both by homegrown startups and by Bay Area-based companies like Facebook Inc. and Google, which have expanded their L.A. offices in recent years.

According to CBRE, companies from the Bay Area have leased roughly 6 million square feet of office space in Southern California since 2013. Read more via LABusinessJournal

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