Strongly inspired by an understanding of mammalian cortical structure and function, the Hierarchical Temporal Memory Cortical Learning Algorithm (HTM CLA) is a promising new approach to problems of recognition and inference in space and time. Only a subset of the theoretical framework of this algorithm has been studied, but it is already clear that there is a need for more information about the performance of HTM CLA with real data and the associated computational costs. For the work presented here, a complete implementation of Numenta's current algorithm was done in C++. In validating the implementation, first and higher order sequence learning was briefly examined, as was algorithm behavior with noisy data doing simple pattern recognition. A pattern recognition task was created using sequences of handwritten digits and performance analysis of the sequential implementation was performed. The analysis indicates that the resulting rapid increase in computing load may impact algorithm scalability, which may, in turn, be an obstacle to widespread adoption of the algorithm. Two critical hotspots in the sequential code were identified and a parallelized version was developed using OpenMP multi-threading. Scalability analysis of the parallel implementation was performed on a state of the art multi-core computing platform. Modest speedup was readily achieved with straightforward parallelization. Parallelization on multi-core systems is an attractive choice for moderate sized applications, but significantly larger ones are likely to remain infeasible without more specialized hardware acceleration accompanied by optimizations to the algorithm.