Establishment Growth Tops in Broomfield, Denver, and Douglas County

Since the end of the recession establishment growth occurred fastest in the following counties: Broomfield, Denver, and Douglas.

The Quarterly Census of Employment and Wages (QCEW) data provides trends for the creation of establishments by county. To be included in the QCEW database, establishments must have at least one employee.

Between 2002 and 2013 the number of Colorado establishments increased at an annualized rate of 1.0%. Between 2009 and 2013 the number of Colorado establishments changed at an annualized rate of -0.1%.

Year Establishments
2002 153,830
2003 156,986
2004 160,104
2005 166,540
2006 171,682
2007 175,442
2008 175,410
2009 171,729
2010 168,176
2011 166,537
2012 168,824
2013 171,249

For the period 2002 to 2013, the number of establishments in Broomfield, Douglas, and Weld County grew at the fastest rate, while the number of establishments in Arapahoe, Jefferson, and Pueblo changed at the lowest rates.

Year County
County/State 2002 vs. 2013
Broomfield 5.1%
Douglas 4.2%
Weld 2.0%
Larimer 1.4%
Boulder 1.2%
El Paso 1.1%
COLORADO 1.0%
Denver 1.0%
Adams 0.7%
Arapahoe 0.4%
Jefferson 0.2%
Pueblo -0.5%

For the period 2009 to 2013, the number of establishments in Broomfield, Denver, and Douglas County grew at the fastest rate, while the number of establishments in El Paso, Jefferson, and Pueblo changed at the lowest rates.

County/State 2009 vs. 2013
Broomfield 2.5%
Denver 1.5%
Douglas 1.4%
Boulder 0.9%
Larimer 0.3%
Arapahoe 0.1%
Weld 0.1%
COLORADO -0.1%
Adams -0.2%
El Paso -0.2%
Jefferson -0.5%
Pueblo -1.9%

It is interesting to note that Boulder County, often regarded as the hotbed of entrepreneurship, was not at the top of the list for the percentage of establishments added.

Northern Colorado Economic Development Efforts – Thinking Big

The Northern Colorado counties are thinking BIG!

The five-county metro area (Boulder, Broomfield, Adams, Larimer, and Weld) have very different economies, assets, and distinctive competencies. Combined, they provide the foundation that can drive a strong recovery from the Great Recession and continue to transform the state economy.

From an economic development perspective, the strengths of the region are:
• Agriculture (Weld and Adams County)
• Air transportation (DIA, Front Range, Rocky Mountain)
• Beverages (Budweiser, Lefthand Brewing, and microbreweries)
• Construction
• Corporate headquarters (Interlocken)
• Extractive industries (Niobrara)
• Federal facilities (NOAA, NIST, NCAR, and a host of facilities in Fort Collins)
• Ground Transportation (their proximity to major highways makes them a hub)
• Health care (Fitzsimons)
• Higher education facilities
• High tech clusters (they are a hub for biosciences, nanotechnology, photonics, renewable energy, software)
• Proximity to major highways (I-25, I-70, I-76)
• Tourism (Rocky Mountain National Park and Eldora Ski Area)
• Warehousing (Adams County).

By county, the big thoughts are:
• Boulder – Conoco Phillips is planning to open a renewable energy research facility in Louisville.
• Broomfield – The Regional National Archives will open in 2013, improvements are on tap for the 36 corridor beginning in 2012, talks are continuing on the Denver beltway, a high-tech business park is planned for the northern part of the county.
• Adams – Changes to the National Western Stock Show are being discussed that could include either a makeover or relocation to a different facility, a Gaylord Hotel/Theme Park at DIA is being talked about , and the Spaceport at Front Range Airport is in the planning states.
• Larimer -The ACE park has recently been renamed the Rocky Mountain Innovation Center. Hopes are to turn the old Agilent facility in Loveland into a clean-tech, aerospace, high-tech facility.
• Weld – The county has always been a focal point for energy and agriculture. Renewable energy and the Niobrara oil fields have increased its prominence in that area.

The fact that the economy has not fully recovered has not stopped the leaders in the northern part of the state from making aggressive plans for the future. Will all of these projects come to fruition? Probably not, but the fact that there are leaders with a vision will create growth for the region.

 

©Copyright 2011 by CBER.