projects in the last few years. The Regional
Transportation District’s FasTracks project
will connect the metro Denver region with
122 miles of new commuter and 18 miles of
bus rapid transit, with four rail lines anticipated to be open by 2016.
Additionally, several Colorado Workforce
Centers are located throughout the region,
leaving employers well supported with
recruitment assistance and employees with a
rich resource for job search tools, job placement and training opportunities.
A cross-section of industries make up the
employment base in Metro Denver, with
eight industry clusters targeted for growth
and expansion in the near future. The
nine-county metro Denver and Northern
Colorado regions depend on these diverse
industries for economic growth.
Aerospace: Colorado comes in second
place among the 50 states for private aerospace employment concentration. More
than 58,000 private sector workers and military personnel worked in aerospace in 2013.
Four military commands, eight major space
contractors and more than 300 aerospace
companies and suppliers call Colorado home.
Aviation: Aviation companies in Colorado
employ more than 15,910 workers, many
at Denver International Airport and three
reliever airports. The metro region ranks 11th
among the nation’s 50 largest metro areas for
aviation employment concentration.
Bioscience: The Denver metro region’s
bioscience businesses employ 4,780 biotechnology and pharmaceuticals workers and
10,310 workers in medical device and instrument production. Fitzsimons Life Science
District and the Anschutz Medical Campus
in Aurora, along with ten other local higher
education institutions, offer bioscience
programs and research assets.
Broadcasting and Telecommunications: Its
location in the Mountain Time Zone is a boon
to Denver’s broadcasting and telecommunications industries. Denver is located in the
Denver’s location exactly midway between Tokyo and Frankfurt
makes it an ideal place for companies that work in international trade.
Multinational corporations benefit greatly from setting up headquarters
in this strategic location. International trade has helped the city’s business
and economic sectors take off. Local and state officials recognize
the benefit of international trade to the local economy, and support
businesses that work internationally from Denver in a number of different
Metro Denver businesses appreciate the easy access to international air
travel and satellite communications to destinations around the world,
including Europe, Asia, and Latin America. Denver International Airport
boasts 23 nonstop international flights, including a daily nonstop flight to
Tokyo. In addition, Denver has strong business relationships with Canada
and Mexico, which are both partners in the trilateral North American
Free Trade Agreement (NAFTA). Colorado’s five biggest trading partners
in 2013 included Canada ($206 billion), Mexico ($917.8 million), China
($772 million), Japan ($442 million) and Korea ($340.6 million). In 2013,
Colorado’s overall exports totaled a record $8.7 billion.
Colorado’s top six exports in 2013 were computers and electronic
products ($518 million), fresh beef ($427.5 million), medical instruments
($417 million), orthopedic and hearing devices ($302.8 million), frozen
beef ($294.9 million) and civilian aircraft, engines and parts ($359 million).
International trade is strongly promoted in Colorado. The Colorado
Consular Corps includes 33 foreign consulates, including full-time offices
for Canada, Japan, Mexico, Peru and the United Kingdom. The consulates
provide trade, tourism, and cultural exchange information and services.
Encouragement for multinational corporations is high in the metro area.
Denver’s World Trade Center supports Denver’s international companies
and is part of a global network that spans 100 countries. The Denver
office provides trade-related education and training, market research,
connections to local members and other WTC offices and advocacy for
free trade through the legislature.
Another way that international trade is supported in Denver includes
two general purpose Foreign Trade Zones that allow manufacturers
to expedite customs and either reduce or eliminate fees and tariffs
on imported materials. Businesses that are high-volume, high-tariff
manufacturers can also establish their own Foreign Trade Subzones.
Finally, the Colorado Office of Economic Development and International
Trade (OEDIT) gives grants that cover travel and other business expenses
for small businesses in Colorado that want to expand into international
markets. The U.S. Treasury Department’s State Small Business Credit
Initiative gave $5.5 million to the OEDIT in June 2014. The office will invest
that money into Colorado’s small businesses. Multinational companies
can expect to be supported and to thrive in the Denver metro region.
T R A D E in DENVER