Colorado Economic Forecast Shows Strong Employment Numbers, Business Growth
Recent economic indicators and jobs reports are forecasting continued growth here in Colorado. With a strong employment base and rapid business growth for many industries, the state seems poised for continuing economic expansion. And UCEC is ready to play its part as a trusted partner for the various industries we serve.
Last month, the Metro Denver Economic Development Corporation (Metro Denver EDC) released its 10th-annual Industry Cluster Study. The study noted that Metro Denver’s top industries are among the best performing in the nation, with seven clusters/subclusters appearing in the top 10 for "employment concentration" in 2015.
We noted that several industries had impressive growth: The Denver Metro region ranks fourth in the United States in fossil fuels and fifth for cleantech employment concentration. "Both subclusters posted significant, double-digit growth from 2010-2015; cleantech was the region’s fastest growing industry in 2015 (fossil fuels, 2.8%/48.7%; cleantech, 8.5%/23.7%)*," according to the new study. Beverage production emerged as a "growth industry in the past year, posting 5.2 percent employment expansion."
The other industries noted in the study are Aerospace, Aviation, Bioscience, Broadcasting and Telecommunications, Energy, Financial Services, Healthcare and Wellness and Information Technology/Software.
“We are highly encouraged with the momentum we see in our industry clusters. Colorado is certainly top of mind among site selection consultants and expanding companies for its highly educated workforce and high-performance business climate. Targeting our marketing and recruitment efforts in these ‘innovation’ clusters is the right strategy to drive our economic future.”
UCEC's craftsmanship touches many of the industries mentioned above. We're a Colorado company and are proud to be part of the economic engine in the Centennial State. As we read about encouraging jobs growth across various industries, we naturally think to our own needs: UCEC is hiring, too.
Read more here from the study authored by Metro Denver EDC's Chief Economist Patty Silverstein and Senior Economist Lisa Strunk of Development Research Partners.
* One-year/five-year employment growth is noted in parentheses