3 Cities to Watch
Source: U. S. Department of Labor
Bill Conroy is editor in chief of Scotsman Guide.
Reach him at (800) 297-6061 or firstname.lastname@example.org.
Colorado’s unemployment rate has historically run below the national rate
and continued to do so in 2017, clocking in at 2.7 percent as of this past
October, compared with the national rate of 4.1 percent as of the same
period. The 2017 Leeds School of Business report estimates that Colorado
created some 63,400 jobs in 2017, representing a 2.4 percent expansion
of its workforce. In 1970, the report notes, about 1 million people were
employed in Colorado, with average annual earnings at $6,538. The state’s
wage-and-salary employment figure as of 2017 stood at 2.6 million, the
Leeds report states, and annual average pay topped $54,000.
Colorado is home to a vibrant aerospace industry that includes a host of
commercial, military and civil-space operators, including companies that
produce planetary spacecraft and launch systems. Among the employers operating in the state are Bell Aerospace & Technologies Corp., The
Boeing Co., Lockheed Martin, Northrop Grumman and the Raytheon Co.
Colorado also is home to two of the leading aerospace engineering programs in the nation — located at the University of Colorado in Boulder and
the U.S. Air Force Academy in Colorado Springs.
In addition, Colorado Springs hosts the North American Aerospace Defense
Command (NORAD) and the U.S. Army Space and Missile Defense Command, while Boulder is home to labs operated by the National Oceanic and
Atmospheric Administration (NOAA). The state’s aerospace sector includes
more than 140 companies that employ some 25,000 people, according to
the Colorado Office of Economic Development and International Trade.
The Centennial State also has one of the highest concentrations of private-sector aerospace employment in the U.S.
Located some 30 miles northwest of Denver and home to the flagship
campus for the University of Colorado, this city of 108,000 boasts an
array of industry clusters, including aerospace, biotechology, information technology and tourism. The greater Boulder area has a significant
slice of Colorado’s financial activity, with some $9.3 billion in financial-institution deposits as of 2016, representing 7. 4 percent of the total
statewide, according to a Leeds School of Business study. The area also
attracts a high volume of venture capital because of its entrepreneurial
business community, marked by a high concentration of advanced-technology companies.
Considered the business center of northern Colorado, the city has
strong manufacturing and high-tech sectors, and is home to Colorado State University, one of the nation’s leading research centers
focused on the study of infectious diseases, veterinary medicine and
environmental science. Major companies with a presence in the community of 164,000 residents include Otter Products, Anheuser-Busch,
Advanced Energy Industries and Intel, according to the Fort Collins
Chamber of Commerce. The college town also has a vibrant micro-brewery and music scene.
The community of some 465,000 is at the doorstep of the U.S. Air Force
Academy, located just to the north of the city, and also is home to the
U.S. Olympic Committee headquarters, some 20 national Olympic
governing bodies and the future U.S. Olympic Museum. It also has a
diverse business community that includes companies like Progressive
Insurance and Lockheed Martin. U.S. News and World Report recently
ranked Colorado Springs as the 11th-best place to live in the nation
based on quality of life, people’s desire to live there and its job market.
Sources: Boulder Economic Council, CNBC, Colliers International, Colorado Office of
Economic Development and International Trade, Colorado Springs Convention and
Visitor Bureau, Colorado State University, Cushman & Wakefield, Cyberstates, Forbes,
Fort Collins Chamber of Commerce, JLL, Marijuana Policy Group, MSN, National Association
of Manufacturers, The Denver Post, University of Colorado Leeds School of Business,
U. S. Department of Commerce, U. S. Department of Labor, U. S. News and World Report,