Forbes: Atlanta No. 3 U.S. city poised to become tech mecca

Atlanta could soon become one of the world’s most elite tech cities.

According to a new report from Forbes, Atlanta is the No. 3 American city poised to become one of tomorrow’s tech meccas.

“Craving relocation to the East Coast? Opportunities for Atlanta-based tech jobs, including software developer, software programmer, and computer support roles, have grown far more quickly than the national average,” the article reads. “Atlanta’s total tech jobs have grown by 46.7 percent since 2010 — almost 20 percentage points above the national average.”

The article gives a nod to three of the city’s startup hubs — Atlanta Tech Village, Switchyards Downtown Club and Advanced Technology Development Center — and two of the city’s universities —Georgia Institute of Technology and Emory University — as a two of the main boosters of Atlanta’s tech boom.

Census: Atlanta among fastest growing metro areas

The Atlanta metro area grew by more than 255,000 people from 2013 to 2015, making it one of the fastest growing metro areas in the country, according to new figures from the U.S. Census Bureau.

The population boost is part of an overall pattern of growth in the Sun Belt, according to USA Today.

Penske Truck Rental Announces 2015 Top Moving Destinations

During the six years that we’ve published the Penske Truck Rental Top Moving Destinations list, there have been two constants: our customers continue relocating en masse to the Sun Belt region of the United States and Atlanta winds up as the premier destination.

“Our own data, compiled from do-it-yourself moves across the country, mirror the country’s migration and areas of growth,” explained Don Mikes, Penske’s senior vice president of rental.

Atlanta has highest employment growth among large U.S. metros

Atlanta saw a 4.6 percent jump in its employment growth rate from February 2014 to February 2015.

The increase makes Atlanta the frontrunner among large U.S. metropolitan areas, Los Angeles-based CBRE Group Inc. (NYSE: CBG) reported citing information from the U.S. Bureau of Labor Statistics.

2015 Multifamily Outlook

Building on 2014’s momentum, 2015 is expected to be another strong year, although slightly slower paced and with more dispersion across geographic markets.

Economic Gains Attract Tenants and Investors to Atlanta

Metro Atlanta apartment operations have made substantial strides since the downturn and show no signs of slowing. Employment growth in the region exceeded the national average for four years and is expected to surpass pre-recession levels this year. Broad-based job creation is attracting more people to Atlanta, fueling demand for housing. Over the past year, net migration surged 42 percent as 32,800 individuals moved to the region. Motivated, multifamily developers ramped up construction in 2013, following three years of subdued activity. Despite a substantial increase in supply, pent-up demand resulted in vacancy tumbling to 6 percent in the third quarter of this year, the lowest rate since 2007. This year, new supply will fall slightly below last year’s level and is concentrated in highly desirable areas of Buckhead, Midtown and downtown Atlanta. A bulk of the total will come online in the fourth quarter, though elevated tenant demand will sustain tight vacancy. Both newly built apartments and strong demand for rentals will put upward pressure on average rents, marking a fifth year of growth.