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February 18-March 3, 2015 — COLORADO REAL ESTATE JOURNAL — Page 9AA
Economic Development News
Commerce City is seeking a
qualified design professional
to serve on its Derby Review
Board to support the revitaliza-
tion of the city’s Derby down-
town district.
The heart of Commerce City’s
historic city dating back to the
1880s, Derby is considered a key
future commercial and activity
center. The ongoing revitaliza-
tion of the Derby downtown
district calls for diversifying the
business community through
encouragement of new shops,
restaurants and other services
while supporting existing busi-
ness growth. There are 130 indi-
vidual properties that make up
the Derby area, which has a
triangular-shaped layout bor-
dered by 72nd Avenue, High-
way 2 and Magnolia Avenue.
The unpaid, open position
requires candidates with a
design background and expe-
rience in architecture, urban
planning or landscape design.
Ideally, candidates will have
an understanding of or interest
in revitalizing the Commerce
City community. Members col-
lectively review and take action
on development applications
within the Derby area with the
goal of maintaining compliance
with the Derby subarea and
design standards.
The Derby Review Board
meets a maximum of once a
month, the third Tuesday eve-
ning of the month, and is com-
prised of five regular members
appointed by City Council. For
more information about the
Derby, the subarea plan and
position, visit .
com/derby. The deadline to
apply is Feb. 27 and the new
member is anticipated to begin
in April.s
The Metro Denver Economic
Development Corp. recently
released its ninth annual Indus-
try Cluster Study, an in-depth
analysis of the industries creat-
ing new jobs and investment in
the nine-county metro Denver
and Northern Colorado region.
The study, completed by
Metro Denver EDC Chief
Economist Patty Silver-
stein and Senior Economist
Lisa Strunk of Development
Research Partners, evaluates
eight major industry clusters in
the region: aerospace, aviation,
bioscience, broadcasting and
telecommunications, energy,
financial services, health care
and wellness, and information
technology-software. One-year
employment figures factor data
through the third quarter of
2014.
“While three industry clus-
ters and subclusters expe-
rienced slight employment
contractions that are mostly
in line with national trends,
the region’s overall outlook is
very positive as we continue to
expand the diversity of our eco-
nomic base,” said Silverstein.
According to Silverstein, the
nine-county region has come
a long way in recovering jobs
within its largest industry
clusters following the 2008 to
2010 recession. She noted that
in the 2010 study, only clean
tech posted positive annual job
growth, while in 2014, employ-
ment expanded in nine of 12
clusters and subclusters.
The energy industry – includ-
ing fossil fuels and clean tech
– continues to be a power-
house contributing to eco-
nomic expansion in the region,
posting five-year job growth
of 38 percent and 22.5 percent,
respectively.
“Now more than ever before,
we see the benefits of our bal-
anced energy approach,”
explained Tom Clark, CEO of
the Metro Denver EDC. “This
industry with both its elements
represents much of Colorado’s
economy today with a com-
bined $6.4 billion annual pay-
roll. We are also encouraged
with the increased growth in
financial services, especially in
the investment and insurance
subclusters, demonstrating our
rebound from the disruptive
financial elements of the Great
Recession.”
The study also cites the future
impact of the permanent satel-
lite office of the U.S. Patent
and Trademark office, the con-
tinuing build-out of FasTracks
and new nonstop internation-
al flights as having positive
impacts to all industries in the
region.
The metro Denver cluster
analysis includes industry
descriptions and employ-
ment trends, major companies,
employment concentration
rank compared to the 50 largest
U.S. metropolitan areas, com-
prehensive workforce profiles,
and detailed industry news
and developments.
Additional information can
be found at
org.
Updates…
n The Metro Denver EDC
and the Denver Metro Cham-
ber of Commerce presented the
2015 Metro Denver Forecast at
Vectra Bank’s 22nd annual Eco-
nomic Forecast Breakfast.
The 2015 Economic Forecast
is researched by Silverstein
and reviews the events of the
past several years as well as
highlights emerging trends for
this year. The forecast includes
national-level information and
includes estimates for state-
wide indicators as well.
“Metro Denver will continue
to benefit from solid econom-
ic performance in 2015. Even
as we experience increasing
employment and confident
consumers, we need to recog-
nize that our aging and retiring
baby boomers and well-edu-
cated and ready-for-the-work-
force millennials are changing
the face of our community and
influencing housing patterns
and how we do business,” said
Silverstein.
Compared with the nation-
al average, metro Denver's
employment growth in 2014
was more than 1.3 percentage
points higher at 3.2 percent,
which included gains in each
supersector except informa-
tion. Silverstein forecasts job
growth in 2015 to be 3 percent,
which represents the addition
of about 45,000 jobs.
According to Silverstein, four
supersectors of the regional
economy should post strong
employment growth in 2015:
natural resources and construc-
tion (5 percent), education and
health care services (4.1 per-
cent), professional and business
services (4 percent), and leisure
and hospitality (3.6 percent).
Silverstein also highlighted
the demographic shifts that
are changing the face of metro
Denver’s workforce. She noted
that millennials (born between
1981 and 1997) now compose
the largest population group in
metro Denver.
“While Generation X and
baby boomers dominate the
workforce today, the millenni-
als are making their mark on
the workplace and will rep-
resent the largest component
of the labor force within 10
years,” she explained.
Changing demographics
have implications not only for
future labor force growth pat-
terns and consumer spending,
but also residential real estate
purchases.
The Metro Denver EDC's
CEO, Tom Clark, said that with
limited supply in the residential
real estate market and above-
average population growth,
home prices and appreciation
are rising and construction
activity is picking up.
“While increased residential
construction activity is very
positive for our economy, we
do see challenges related to
millennials and baby boom-
ers seeking affordable, owner-
occupied housing due to almost
flat construction of condos and
a historic rise in apartment con-
struction,” said Clark. “We are
working with the state Legis-
lature on construction defects
legislation to address this criti-
cal gap.”
The forecast for metro Den-
ver includes the seven counties
of Adams, Arapahoe, Boulder,
Broomfield, Denver, Douglas
and Jefferson. Economic indi-
cators analyzed include: popu-
lation trends, employment by
industry, unemployment, retail
sales growth, commercial real
estate and residential activity.s
ʻNow more
than ever
before, we
see the
benefits of
our balanced
energy
approach.ʼ
– Tom Clark,
Metro Denver EDC
For complete contact information, links and
Key Facts, visit our Web sit
Adams County Economic Development
Arvada Economic Development Association
Aurora Economic Development Council
Boulder Economic Council
Brighton Economic Development Corporation
City and County of Broomfield
Castle Rock Economic Development Council
City of Centennial
Colorado Springs Regional Business Alliance
City of Commerce City
Denver Office of Economic Development
Denver South Economic Development Partnership
Downtown Denver Partnership Inc.
City of Englewood Community Development Dept.
Town of Erie
Federal Heights Redevelopment Agency
Grand Junction Economic Partnership
City of Greenwood Village
Jefferson County Economic Development Corp.
City of Lafayette
Lakewood Economic Development
City of Lone Tree
Longmont Area Economic Council
City of Louisville
Metro Denver Economic Development Corporation
Northern Colorado Economic Development Corp.
City of Northglenn
Northwest Douglas County EDC
Town of Parker
Pueblo Urban Renewal Authority
Rifle Regional Economic Development Corp.
City of Thornton Office of Economic Development
Town of Superior
Westminster Economic Development
City of Wheat Ridge
Wheat Ridge 2020
Town of Windsor
For information regarding appearing in the EDC Profile
Section, please contact Jon Stern at 303.623.1148
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