The western heritage and give first ethos of the greater Denver area “makes this an awesome community to do business, start companies and develop innovative technologies,” declared Erik Mitisek, CEO of the Colorado Technology Association.
Denver, Colorado, is considered by many to be the United States' number one place to revel in entrepreneurship opportunities, a continuously growing city in both population and national economic impact. This means that it is also an excellent option for middle school, high school, and college-level field trips and business tours.
As the capital city of the state of Colorado, Denver holds a long-standing history in being an important government, cultural, and distribution community, a favorable aspect it still holds today. Not only does it have that strong economic establishment already, but now it has an outstanding future stronghold on the web, health, and tech establishments and growth.
But don’t just listen to us ramble on about it, take a look at a few cold hard facts.
Denver Business Facts:
(Statistics found by Forbes 2016 Rankings)
- The average household income in Denver sits at $69,908, right around $14,000 more than what the Census ACS found for the U.S average in 2016.
- The college attainment level throughout Denver is up to 41.8%.
- Forbes ranks Denver #1 Place for Business and Careers in the U.S, something both Fortune and the U.S Chamber of Commerce agrees with.
- The top industries within the metro include health, aerospace, telecommunications, and technology.
- The city holds several iconic businesses that have seen their start here, including Chipotle, JD Edwards, RE/MAX, Samsonite, and HealthOne.
So now that you know the basics of Denver business, how about 4 more specific reasons why this city is the perfect city to visit for an entrepreneurship tour, business tour, or post-college entrepreneurship dreams.
Denver sits in a pretty perfect location for business and growth, both culturally and geographically. Due to it’s generally central location to the West Coast and Midwest, this city has been a distribution and storage hub for quite some time now. With easy access to and from major cities such as St. Louis and Chicago to the east and San Diego and L.A to the west, economic development with trade and distribution is ever-increasing here.
Another important factor in these cities' overall economic success is its geographic location right at the foot of the Rocky Mountains. These mineral-rich mountains call to mining and energy entrepreneurs and specialists across the nation, and even the world.
Low Unemployment, High Job Growth -
With one of the lowest unemployment rates in the nation and an annually increasing job growth rate, essentially Denver is exactly what savvy businesses are looking for to grab new companies, set up shop, and increase their overall demand and productivity.
Sitting right at 3% for the unemployment rate and 3.7% job growth rate with a 2.4% annual projection, the thriving business sector of this city certainly pays off. What better spot to see the ins and outs of business growth and development, or perhaps start up a business of your own?
Millennial Boom -
It’s no big surprise that many millennials are migrating over to the Mile High City, with several noteworthy universities, businesses, art galleries, culinary landmarks, and outdoor recreation opportunities. With the younger generation moving in, more creative career ideas are flowing in, causing a substantial boom in the entrepreneurship community.
With the health and tech industries being so big in Denver, the millennial increase is also helping provide more digital health and fitness startups, over 125 total such businesses in the city already. This generation is known to want to be more physically active and spend time outdoors, making the health sector boom in general.
Perhaps most importantly attributed to the rise in business-savvy millennials is the accepting community with several tools and networking opportunities for young entrepreneurs. For example, the popular local non-profit group TiE Rockies works to foster entrepreneurship through several different programs, one by the name of TYE, or TiE Young Entrepreneurs.
Start-Up Go To Market -
There’s really no other way to say this besides the way we already have: Denver is a golden start-up go to market. Taking in all the factors previously mentioned, the big business simply flocks to Denver in hopes to pick up smaller, just starting ones.
This is PERFECT for entrepreneurs looking for their big break! Several major companies have bought out smaller companies successfully from and within Denver, for instance, Comcast acquired This Tech, Amazon bought out Zlementry, and IBM picked up Alchemy API! These are but a few of the many big companies buyouts in this metro area.
- Tomorrow Tour: A groundbreaking annual case study and conference that takes place in a new city each year. 9 major tech leaders, policymakers, and new thinkers were featured in 2016 discussing how technology and innovation have strengthened the city overall.
- The rise of the Rest: One stop on the 5-city tour of America’s most booming entrepreneurship cities, featuring Denver, D.C, Silicon Valley, Boston, and New York.
- Coors Factory: A tour anyone can participate in at any time that gives a really great example of a thriving Denver business, from the inside.
- Denver Mint: A behind the scenes look at money-making in Denver, literally.