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Key Industry Clusters in Metro Denver February 2010

Key Industry Clusters in Metro Denver February 2010. Identify & Profile Industry Clusters. Recognize that all industries are important Identify key industry clusters based on economic data Examine the short- and long-term prospects for each industry cluster

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Key Industry Clusters in Metro Denver February 2010

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  1. Key Industry Clusters in Metro DenverFebruary 2010

  2. Identify & Profile Industry Clusters • Recognize that all industries are important • Identify key industry clusters based on economic data • Examine the short- and long-term prospects for each industry cluster • Provide a detailed look at how each cluster exists currently in Metro Denver

  3. Aerospace Aviation Bioscience Pharmaceuticals & Biotechnology Medical Devices & Instruments Broadcasting & Telecommunications Energy Fossil Energy Cleantech Financial Services Banking & Finance Investments Insurance IT/Software Key Metro Denver Industry Clusters

  4. Aerospace • Critical Mass: Four military commands, several universities involved in leading space research, eight major space contractors • 19,870 private employees plus 28,470 military personnel, 90 companies (CO 25,870 emps & 120 cos.) • Ranked 2nd in employment concentration, 1st in absolute employment (CO 1st, 3rd) • Employment growth rates: -1.2% in 2009, +2.3% average annual from 2004-2009 (CO -1.8%, +2.5%) • 2008 average annual salary $106,380 (CO $107,720) • Location factors: technical and scientific workforce, proximity to vendors, pro-business government, proximity to colleges and universities

  5. Aviation DIA passenger count exceeded 51M in 2009, 3 reliever airports, 5 general aviation airports 15,690 employees, 460 companies Ranked 10th in employment concentration, 11th in absolute employment Employment growth rates: -1.5% in 2009, +1.3% average annual from 2004-2009 (U.S. -5.6%, 0% ) 2008 average annual salary $46,020 ($57,270 U.S.) United Airlines, Frontier Airlines, Southwest Airlines Location factors: air transportation location, quality of life, costs of doing business, aviation training programs

  6. Bioscience:Medical Devices & Instruments Fitzsimons Life Science District; Anschutz Medical Campus; concentrations in Jefferson, Boulder Counties Major Companies: CaridianBCT , Covidien, Hach Company, Sorin Group USA 9,480 employees, 270 companies (CO 11,080 emps & 340 cos.) Ranked 6th in employment concentration, 11th in absolute employment (CO 7th, 11th) Employment growth rates: +1.6% in 2009, +0.4% average annual from 2004-2009 (CO 1.0%, +1.0%) 2008 annual average salary $62,770 ($63,080 CO)

  7. Bioscience: Pharmaceuticals & Biotechnology 10 higher education institutions with bioscience programs 5,610 employees, 250 companies (CO 6,070 emps & 310 cos.) Ranked 18th in employment concentration, 16th in absolute employment (CO 21st, 19th) Employment growth rates: +4.5% in 2009, +4.1% average annual from 2004-2009 (CO 4.9%, +4.0%) 2008 annual average salary $88,700 ($88,820 CO) Location factors: technical and scientific workforce, affordable, competitive tax structure, access to financial resources

  8. Broadcasting & Telecommunications Denver ranked fourth among the nation’s top ten “tech poles” (Milken Institute, 2009) 41,390 employees, 1,790 companies Ranked 4th in employment concentration, 9th in absolute employment Employment growth rates: +1.7% in 2009, -1.9% average annual from 2004-2009 (U.S. -4.5%, -2.4% ) 2008 annual average salary $83,150 ($74,200 U.S.) Avaya, Comcast, EchoStar, Level 3, Qwest, tw telecom Location factors: central location & easy global access, concentration of technology workers, low business costs, competitive tax structure, quality of life

  9. Energy: Fossil Fuels Integration of two subclusters key to future growth, such as ConocoPhillips and Smart Grid technology 15,780 employees, 1,370 companies (CO 43,300 emps & 2,120 cos.) Ranked 8th in employment concentration, 7th in absolute employment (CO 8th, 5th) Employment growth rates: +0.4% in 2009, +2.1% average annual from 2004-2009 (CO 1.2%, +8.6%) 2008 annual average salary $94,900 ($93,790 CO) DCP Midstream, EnCana, Suncor Energy, Xcel Energy

  10. Energy: Cleantech National Renewable Energy Laboratory, Colorado Renewable Energy Collaboratory, numerous government and research facilities 16,320 employees, 1,130 companies (CO 18,230 emps & 1,530 cos.) Ranked 7th in employment concentration, 8th in absolute employment (CO 4th, 12th) Employment growth rates: +4.6% in 2009, +3.5% average annual from 2004-2009 (CO 3.7%, +3.0%) 2008 annual average salary $75,530 ($74,920 CO) Location factors: access to natural resources, access to scientific talent, higher education programs, access to federal labs and private R&D facilities

  11. Financial Services:Banking & Finance Major financial center between Chicago & LA Federal Reserve Bank branch, Denver Mint 43,950 employees, 3,950 companies Ranked 4th in employment concentration, 10th in absolute employment Employment growth rates: -0.3% in 2009, -1.6% average annual from 2004-2009 (U.S. -1.4%, -1.4% ) 2008 annual average salary $58,720 ($60,390 U.S.) Employment concentrated in Denver, Arapahoe, and Jefferson Counties

  12. Financial Services: Investments Charles Schwab was named “Deal of the Year” award winner in 2009 by Metro Denver EDC 23,310 employees, 4,410 companies 91% of the companies have fewer than 10 employees Ranked 7th in employment concentration, 12th in absolute employment Employment growth rates: +0.3% in 2009, +1.7% average annual from 2004-2009 (U.S. -0.6%, +0.4% ) 2008 annual average salary $133,770 ($195,400 U.S.) Janus Capital Group, Oppenheimer Funds, TIAA-CREF, Marsico Capital Management

  13. Financial Services: Insurance 26,690 employees, 3,570 companies 90% of insurance companies have fewer than 10 employees Ranked 23rd in employment concentration, 14th in absolute employment Employment growth rates: -5.9% in 2009, -1.2% average annual from 2004-2009 (U.S. +0.8%, -1.6% ) 2008 annual average salary $61,150 ($69,980 U.S.) Key location factors: large and qualified workforce, quality of life, low business costs, competitive tax structure, central location

  14. Information Technology-Software Colorado ranked third in high-tech workers per 1,000 private sector workers (TechAmerica, 2009) 42,300 employees, 3,960 companies Ranked 9th in employment concentration, 12th in absolute employment Employment growth rates: -0.2% in 2009, -2.0% average annual from 2004-2009 (U.S. +3.2%, -0.5% ) 2008 annual average salary $91,060 ($88,370 U.S.) IBM Corp., Oracle Corp., Sun Microsystems Key location factors: technical talent, large customer base, quality of life, low business costs, competitive tax structure

  15. Key Metro Denver Industry Clusters

  16. Development Research Partners 10184 West Belleview Avenue, Suite 100 Littleton, Colorado 80127 (303) 991-0070 www.DevelopmentResearch.net Patricia Silverstein, President Patty@DevelopmentResearch.net

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