by Chris Schroeder
The numbers are clear, Denver recognized robust growth in 2016! In kind, local AEC firms rode that same wave and are positioned to continue into 2017 with a new vibrant workforce, healthy construction pipeline, and a diverse regional economy. Here are some of the statistics:
Economic Indicators for 2017
- Colorado passed approximately $3.2 billion in school bond initiatives in 2016 (Colorado Secretary of State website).
- Denver International Airport will begin over $1 billion in design and construction in 2017 (www.flydenver.com).
- Denver Received $121.5 million in state tourism funding for the National Western Center (City and County of Denver).
- There is over $100 million going toward the expansion and growth to the Denver Center for Performing Arts and the Colorado Convention Center complexes (City and County of Denver).
- According to the recent Metro Denver Economic Development Corporation economic report, in 2016 Metro Denver boasted 9,800,000 square feet of commercial real-estate in construction.
Economic Drivers & Data
- #1 – Denver’s ranking for the second year in a row on the Forbes “Best Places for Business and Careers” list. Forbes stated the “diverse economy, growth outlook, and educated workforce” as the key drivers (Forbes).
- #1 – Colorado’s rank for college educated workforce (CNBC Top States).
- #2 – Denver’s nine-county region rank private-sector aerospace employment concentration (full report, Metro Denver Economic Development Corporation).
- 6% – Metro Denver’s unemployment rate, lowest since 2000 (Metro Denver Economic Development Corporation economic report)
- 34% – the number of millennials in the current labor force (Forbes).
- 10% – Denver’s population increase over the past five years (Bloomberg).
- 1% – DIA’s increase in passenger traffic over 2015 (DIA Total Operations and Traffic Report, November 2016).
- Lockheed Martin – Colorado’s largest employer (CNBC).
- $924 million – the value of sponsored research awards granted to the University of Colorado for research (CU facts and figures).
- 230 – Number of established breweries in Colorado (Brewery Institute).
- 300+ – Days of sunshine a year in Colorado! (Colorado native)