< Previous16 C O L O R A D O: B U S I N E S S C O M E S T O L I F E Renewable energy is a prime target industry of your state. How are you doing in that regard? MARKEY: Colorado is a national leader in adopting clean energy technologies and supporting the ecosystem of businesses fueling that industry. The National Renewable Energy Lab is in Golden. The clean-tech industry has grown 224% in the past five years in Colorado. In 2004, Colorado passed the first voter-led renewable portfolio standard in the nation. We have been leading in this area. The governor has prioritized achieving 100% of Colorado’s power from renewable sources by 2040. You come to this job with decades of experience in both the public and private sectors. What did you learn from your success in running businesses that you are able to apply in your current role? MARKEY: You come in as a business owner with a startup mentality. You have goals and strategy. You have to be nimble. You know that talent in your organization drives your success. A key question is, what are some of the pain points as a business owner in dealing with government at all levels? Coming into state office having experience at different levels of government and the private sector, I know how to get things done. “The clean-tech industry has grown 224% in the past five years in Colorado. ” – Betsy Markey, Executive Director, OEDITI am not frustrated at all. I am excited at the pace of innovation in state government. Your tagline at OEDIT is “Colorado: Where Passion Meets Purpose.” What does that mean for prospective businesses looking at your state? MARKEY: We know that work-life balance is a key driver to attract the talent needed to compete in a knowledge-based economy. Colorado also is a highly collaborative state. at inclusive atmosphere drives industry growth. Why is Colorado experiencing so much growth right now in the area of health care technology? MARKEY: First, Colorado walks the walk in health and fi tness. We are highly active. And we have a tremendous collection of academic research that fuels innovation. Catalyst HTI in Denver and the Fitzsimons Army Medical Center are just two of our many resources in this area. What would you like business leaders in other states to know about the talent that is available in Colorado? MARKEY: Colorado’s highly skilled and highly educated talent continues to be among the nation’s best. We have the second most educated talent. irty-nine percent of Colorado adults have a bachelor’s degree, compared to % nationally. Our research centers drive innovation and in-migration of millennial talent. Research, innovation and entrepreneurship are in Colorado’s DNA. Talent continues to choose Colorado. C O L O R A D O: B U S I N E S S C O M E S T O L I F E 1718 C O L O R A D O: B U S I N E S S C O M E S T O L I F E Top 25 Projects from 2018 Projects by SectorProjects by Type Colorado by the Numbers S T A T I S T I C A L P R OF IL E Companies City Sector Category Types US$M Jobs J.M. Smucker Company Longmont Food & Beverage Exp. Mfg. 140 250 Whiting Petroleum Corp. Denver Energy New HQ 35.6 Solid Power, Inc. Louisville Electronics New Manf. 20 Workiva Inc. Denver IT & Comm. New Office 9 Facebook, Inc. Denver IT & Comm. New Office 8 Davis Russ Wholesale Inc. Pueblo Food & Beverage New Dist. Warehouse 8 Balco Interiors, LLC Denver Consumer Products New Office 6 Alto Pharmacy Denver Life Sciences New HQ 5.7 20 Davinci Sign Systems, Inc Windsor Consumer Products Exp. Mfg. 5.4 Vertiv Group Corp. Loveland IT & Comm. New Office 4.2 50 Namaste Solar Electric, Inc. Denver Mach., Equip. & Const. New Office,Mfg. 4 Polaris Alpha, LLC Denver IT & Comm. New Office 150 Ezcater, Inc. Denver Food & Beverage New Office 100 Pax8, Inc. Denver IT & Comm. New Office Symmetry Builders, Inc. Dacono Mach., Equip. & Const. New Dist. Warehouse,HQ Edgeconnex, Inc. Denver IT & Comm. Exp. Data Center Boa Technology, Inc. Denver Textiles New HQ Graybar Electric Company, Inc. Denver Electronics New Dist. Warehouse Appextremes, LLC Broomfield IT & Comm. New Office Newmont Mining Corp. Denver Metals New HQ Nite Ize, Inc. Longmont Electronics New Dist. Warehouse,HQ Advanced Energy Ind., Inc. Denver Electronics Office Alterra Mountain Company Denver Bus. & Fin. Services New HQ 12 Slack Technologies, Inc. Denver IT & Comm. New Office 550 Sheltair Aviation Center, LLC Broomfield Aerospace New Office, Dist. Warehouse Sector Projects IT & Comm. 11 Electronics 4 Mach., Equip. & Const. 3 Food & Beverage 3 Consumer Products 2 Textiles 2 Aerospace 2 Other 4 Type Projects Office 14 Headquarters 11 Distribution Warehouse 5 Manufacturing 4 Data Center 1 Source: Conway DataC O L O R A D O: B U S I N E S S C O M E S T O L I F E 19 General Facts GDP: $345.233 B AVERAGE ANNUAL SALARY: $57,400 POPULATION: 5,607,154 CAPITAL: Denver Greater than the national average($50,820). Fort Collins Denver Powder Springs Pueblo $ #10 #10 overall in best state rankings Average High 64.6° 36.2° Average Low Source: U.S. News and World Report 36.3 Median Age In Denver Denver is ranked #2 in Best Places to Live in the United States 30% below the Cost of Living in East and West Coast cities $$ Source: Colorado Office of Economic Development & International Trade20 C O L O R A D O: B U S I N E S S C O M E S T O L I F E Unemployment Rate Labor Force 3,100,000 3,000,000 2,900,000 2,800,000 2,700,000 1/09 1/10 1/11 1/12 1/13 1/14 1/15 1/16 1/17 1/18 1/19 1/09 1/10 1/11 1/12 1/13 1/14 1/15 1/16 1/17 1/18 1/19 Emp lo ye es Year Year Per cen t 8 6 4 2 State Labor Supply Ranked #1 Ranked #9 in Higher Education Source: Forbes, 2016 Source: U.S. News and World Report Source: U.S. Bureau of Labor StatisticsC O L O R A D O: B U S I N E S S C O M E S T O L I F E 21 Top Colleges & Universities Educational Attainment Women/Minority Owned Firms 1/09 1/10 1/11 1/12 1/13 1/14 1/15 1/16 1/17 1/18 1/19 1/09 1/10 1/11 1/12 1/13 1/14 1/15 1/16 1/17 1/18 1/19 Women-owned firms 194,508 Colorado Mesa University #25 in Regional Colleges West Regis University #26 in Regional Universities West Colorado College #27 in National Liberal Arts Colleges United States Air Force Academy #30 in National Liberal Arts Colleges University of Colorado— Colorado Springs #48 in Regional Universities West Source: U.S. Census Bureau, 2012 Source: U.S. Bureau of Labor Statistics Minority-owned firms 85,849 38% 14% Other At Least a Bachelors Degree Graduate or Professional Degree22 C O L O R A D O: B U S I N E S S C O M E S T O L I F E CANADA Total Change Meat $318,634,696 8.85% Optical, medical or surgical instruments $178,051,051 13.46% Industrial machinery, including computers $175,085,083 21.47% Beverages, spirits and vinegar $98,758,430 9.83% Electric machinery, sound & television equipment $73,825,381 -9.02% MEXICO Total Change Meat $322,371,544 54.82% Aluminum and related articles $106,326,072 21.31% Industrial machinery, including computers $100,520,822 -0.67% Plastics $75,993,034 62.81% Glass and glassware $66,775,000 286.29% Top 5 Exports by Country in 2017 CHINA Total Change Optical, medical or surgical instruments $115,810,627 -14.87% Rawhides, skins and leather $110,892,975 -2.45% Industrial machinery, including computers $96,719,109 -14.14% Photographic or cinematographic goods $72,167,908 37.02% Electric machinery, sound & television equipment $39,435,938 23.76% JAPAN Total Change Meat $227,088,959 14.53% Optical, medical or surgical instruments $51,592,217 -32.28% Industrial machinery, including computers $43,421,639 -25.66% Electric machinery, sound & television equipment $24,970,471 -2.36% Printed books, newspapers, manuscripts, etc. $10,952,026 32.95% MALAYSIA Total Change Electric machinery, sound & television equipment $360,051,699 19.54% Optical, medical or surgical instruments $34,727,949 -10.27% Industrial machinery, including computers $10,212,212 -37.66% Food industry residues & waste; animal feed $2,816,995 163.00% Cereals $2,054,672 23.46% Ranked #7 in Economic Growth $ $8.3 Billion #2 Export: ELECTRONIC INTEGRATED CIRCUITS, NESOI $398M #1 Export BEEF: BONELESS, FRESH OR CHILLED $476M Exports Source: U.S. Census Bureau Source: U.S. News and World ReportC O L O R A D O: B U S I N E S S C O M E S T O L I F E 23 Total Exports in USD% Change 2016 - 2017 Total All Commodities $8,062,248,033 6.36% Meat $1,233,387,494 18.89% Electric machinery, sound & television equipment $1,213,824,208 8.43% Optical, medical or surgical instruments $1,169,480,125 -6.51% Industrial machinery, including computer $1,092,141,472 6.01% Photographic or cinematographic goods $240,348,345 -12.46% Plastics $209,207,565 27.64% Aircraft and spacecraft parts $200,762,187 0.21% Aluminum and related articles $187,363,636 27.46% Rawhides, skins and leather $177,911,638 -2.29% Iron or steel $172,465,608 20.83% Top 10 Export Products Worldwide in 2017 Ranked #4 in Business Environment #1 Import CRUDE OIL FROM PETROLEUM & BITUMINOUS MINERALS $2.219 Billion Imports $2.2 Billion Source: U.S. Census Bureau Source: Colorado Office of Economic Development & International Trade Source: U.S. News and World Report Source: U.S. News and World Report24 C O L O R A D O: B U S I N E S S C O M E S T O L I F E he Mile-High City is seeing its regional economy reach even higher altitudes thanks to a wave of recent corporate expansion projects. Since the start of , no fewer than corporate facility expansion projects have been announced in the Metro Denver region. Among them is Checkr, a fast-growing Bay Area background check company that decided to open a second headquarters in Denver. It plans to add , workers over the next decade and will pay an average annual wage of $,, more than double the median wage for Denver. ScaleFactor, based in Austin, meanwhile, announced it would open its second national offi ce in Denver, with plans to grow from workers today to employees within a year. Amazon announced it would expand its Denver Tech Hub by creating new high-tech jobs and open a new ,-sq.- ft. offi ce in downtown Denver, and AveXis, a Swiss biologics company, said it would buy an advanced biologics therapy manufacturing campus in Longmont. In addition, Metro Denver saw signifi cant expansions announced this year by Japanese aerospace company PD How Metro Denver is reaping the rewards of a patient and inclusive economic development strategy. by R ON S TA R N E R T A Mile High in the Making M ET RO DE N V E R P RO F I L E A Vision Photo courtesy of VISIT DENVER/ Greg ThowAerospace, Astroscale, Kiewit Corp., Guild Education, Strava, Ball Aerospace, Gusto, Lockheed Martin, Iterable and Karcher North America. All of this activity comes on the heels of a highly successful that saw Metro Denver reap huge wins from the likes of Facebook, Alto Pharmacy, Freedom Forever, Spire Global, BP, Slack Technology, JumpCloud, Odermark, LocalWise and many other fast-growing fi rms. What’s the secret to Metro Denver’s success? To fi nd the answer, we turned to the expert — J.J. Ament, CEO of the Metro Denver Economic Development Corp. Ament represents a ,-square-mile territory of Northern Colorado that has a projected population of . million people and a workforce of . million. With an average annual population growth rate of .% since , Metro Denver consistently ranks as one of the fastest-growing metro areas in the country. In fact, the U.S. Census Bureau says that Colorado is the second-fastest- growing state in the nation, while Forbes says Colorado ranks fi rst in labor supply. “ e big story here is that we continue to thrive,” Ament says. “U.S. News & World Report ranked us as the No. state in America again this year, and Forbes ranked us as the Best Place to Live and Work. NerdWallet and WalletHub gave us No. rankings too. e major national publications are beginning to realize this.” With two-thirds of the state’s population and three-fourths of the state’s GDP, it’s easy to see why the regional Metro Denver economy is so vibrant. “We are the second-largest private aerospace economy behind California, and that is just one of our nine major industry clusters,” says Ament. “We have the second-most highly educated workforce in America behind Massachusetts, the newest and most advanced airport in the country, and the second-largest performing arts complex in America. People want to live here.” When asked to list the site selection factors that make Metro Denver attractive to growing companies, Ament mentioned the following: Balanced and predictable public policy for business: “Colorado has been a politically balanced state,” he says. Geographical diversity: “We make sure all communities in our region are experiencing our success. e Brookings National Prosperity Index ranked us No. in the U.S. All nine counties in our region are hot markets. All are within to % of each other in job distribution. Not a single part of our region is not experiencing robust growth.” Metro Denver EDC takes a region-fi rst approach to economic development: “We set up our organization that way back in the s and s. We promote the entire region fi rst and let companies choose where they want to go.” Superior talent pools in a variety of sectors: “Top talent is still willing to relocate here. Charter has , employees here. e National Renewable Energy Research Laboratory is here. Quality of life continues to be the big draw.” Best-in-class transportation access: “United Airlines is up to over fl ights a day here now. We have added non- stop international fl ights over the last two years. And we have kept our airline prices competitive. ey are % below the national average.” Aff ordability: “We are still more aff ordable than the coasts.” e median income in Metro Denver is $, a year, and yet tech fi rms can still fi nd and recruit top talent in a variety of fi elds in Northern Colorado. Ament notes that despite these assets, some folks outside Colorado still may not be taking Metro Denver seriously as a competitive business destination. “Sometimes I encounter the perception that we are a place where outdoor recreation and tourism are big, but our business scene is not,” he says. “What I want people to know is that our business scene is every bit as robust as our tourism and recreation. We put these together better than anyone. Our workers are more productive here because they are healthier and happier. We are not all mountain biking and skiing, even if it seems that way sometimes.” To change that perception, Ament says, all anyone has to do is visit Colorado. C O L O R A D O: B U S I N E S S C O M E S T O L I F E 25 “What I want people to know is that our business scene is every bit as robust as our tourism and recreation. We put these together better than anyone. ” – J.J. Ament, CEO, Metro Denver EDCNext >