Are you looking to expand your presence in your local market? Do you know which industries are growing and may represent good targets for your services?
There are several resources available to help you do some of your own market research. Typically the local economic development department or chamber of commerce has identified key industries driving growth in the area. They also publish economic and business data.
For example, in Denver the city’s economic development corporation MetroDenver has identified the following nine industries as drivers of the economy:
- Aerospace
- Aviation
- Beverage Production
- Bioscience
- Broadcasting & Telecom
- Energy
- Financial Services
- Healthcare & Wellness
- IT Software
MetroDenver, also publishes statistics on each industry. Denver and the Northern Colorado region employs more than 52 thousand people in the energy cluster. In addition, Colorado was ranked 9th by the National Science Foundation for the number of science and engineering graduate students per 1,000 individuals aged 25-34. MetroDenver, also offers the following employment statistics:
| Fossil Fuels | Cleantech | |
| Direct Employment | 30,460 | 22,390 |
| Companies | 1,620 | 1,610 |
| Five-Year Employment Growth (2011-2016) | 20.7% (-1.5%) | 20.4% (17.6%) |
| One-Year Employment Growth (2016) | -3.7% (-8.4%) | 6% (5.7%) |
| Direct Employment Concentration (2016) | 1.4% (1%) | 1% (0.5%) |
| Average Wage | $111,880 | $79,690 |
| Employment Concentration Ranking (Among 50 largest metros) | 6 | 4 |
Need help locating the right resources for your market, contact us.