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Portland is one of the most dynamic cities in the country for tech company growth, according to JLL’s 2015 Technology Office Outlook. Also, the city’s relatively low cost of doing business and its talent pool are spurring even more startup activity, according to the report.

The report showed that tech startups and other technology-based firms added more than 2.6 percent of jobs, pushing total tech jobs to more than 60,000 in the Portland area in 2014. That has resulted in office vacancy being pushed to historic lows in the past 12 months, while rents are growing higher. Rents have increased by almost 10 percent in the past 12 months.

Nevertheless, Portland’s average overall direct asking rent of $24.08 per square foot is still well behind larger, more established tech centers. In Seattle, the equivalent rent is $33.70 per square foot, in Silicon Valley it’s $41.68 per square foot; and in San Francisco it’s $66.80 per square foot.

Based on an estimate of each employee taking up 175 square feet of office space, the annual total real estate cost per employee in Portland is $4,214. In Seattle, it is $5,898, in San Francisco it’s $11,690 and in New York it’s $12,362.

The comparatively low cost of doing business in Portland has attracted enough tenants that searches for office space often are challenging, according to the report. Currently, total vacancy is only 9.1 percent. Over the next 18 months, the city will gain approximately 1.5 million square feet of office space in addition to its existing 58 million square feet, but half of that space has already been spoken for by growing firms.