07.16.24 DMC Presentation 3Downtown
Management
Commission
Meeting
Boulder Chamber
Economic Vitality Update
Boulder Industry Update
Boulder Chamber – Economic Vitality
Aerospace is
Boulder’s most
concentrated,
with an
employment
location quotient
16 times higher
than the national
average.
Source: Metro Denver EDC
Cluster Firms Employment
(Boulder
MSA)
Employment
Location
Quotient
Largest
Company
Revenue
(Millions)
Aerospace 57 8,086 16.16 BAE
Systems
$905M
Bioscience 705 11,387 4.46 Lab for
Atmospheric
Space Physics
$1,803M
IT/Software 1,292 16,807 3.33 IBM Corp $4,738M
Boulder’s Industry Clusters
Boulder Industry Update
Quantum
Computing
Boulder Chamber – Economic Vitality
Boulder’s Industry Growth – Quantum Computing
Elevate Quantum
Awarded $127 Million to
Secure US Leadership in
Quantum Technology
Federal and State Funding to
Create 10,000+ New Quantum
Jobs, Educate 30,000 Workers Over
the Next Decade
Boulder Chamber – Economic Vitality
Boulder’s Industry Growth – Quantum Computing
Boulder Chamber – Economic Vitality
Boulder Chamber – Economic Vitality
Employment
Boulder Chamber – Economic Vitality
Unemployment
Boulder Chamber – Economic Vitality
Job Trends
From 2018 to 2023, jobs increased by 4.7% in boulder Co from 210,579 to
220,577. This change outpaced the national growth rate of 3.9% by point .08%
Boulder Chamber – Economic Vitality
Top Occupation Employment Concentration
Boulder Chamber – Economic Vitality
Top Occupation Employment Concentration
Boulder Chamber – Economic Vitality
Educational Attainment
Concerning educational attainment, 34.7% of Boulder, CO residents possess a bachelor’s
degree (13.6% above the national average), and 6.4% hold an associate’s degree (2.4%
below the national average).
Boulder Chamber – Economic Council
Office Vacancy – Boulder County
Source: Dean Callan - 2nd Qtr. Report 2024
Boulder Chamber – Economic Council
Office Vacancy – Downtown Boulder
Source: Dean Callan – 2nd Qtr. Report 2024
Boulder Chamber - Economic Council
Entrepreneurship Ecosystem Evolution
Boulder's
reputation as
a startup hub
resonates
nationally
Accelerators
and venture
capitalists
continue to
invest in the
area
Boulder’s
startups spans
more diverse
sectors
Marketing, IT,
Aerospace, Life
Sciences,
Technology, AI,
Quantum
Boulder is
transforming
into a more
agile and
robust
ecosystem
This evolution signals a
new wave of
entrepreneurial energy in
Boulder
Promising
companies are
still being
founded or
relocating here
The Boulder Chamber is
taking a leadership role
in the effort to convene
and drive the evolution
forward.
Boulder Chamber - Economic Council
Entrepreneurship Ecosystem Evolution
Boulder Chamber – Economic Council
Entrepreneurship
Source: pitch deck
✓Industries Represented: 16
✓Investors: 57
Boulder Chamber – Economic Council
Driving business vitality in our region, that
strengthens the quality of life for the entire
Boulder community.
Financial Services 9
IT/Software 7
Professional Svcs 6
Commercial Real
Estate 6
Non-Profit 3
Aerospace 3
Education 3
Healthcare 3
Restaurant & Hospitality 3
Manufacturing 3
Biosciences 3
Government 2
Media 2
Utilities 2
Construction/Design 1
Natural Products 1
Boulder Chamber - Economic Council
Industry Representation
Economic Council – Bioscience
KBI Biopharma
Economic Council – Aerospace
Think Orbital
Economic Council – Natural Products
Celestial Seasonings
Boulder Chamber – Economic Vitality
Sector Partnerships
✓Organized 14 sector partnership events across 5 sectors:
manufacturing, food/beverage, professional services,
technology, and healthcare.
✓Expanded convenings to Longmont and Broomfield to
enhance regional influence and impact.
✓Increased participation by 27% compared to 2023, with 242
active participants, up from 190.
Boulder Chamber – Economic Vitality
Sector Partnerships – Professional Services
Boulder Chamber – Economic Vitality
Sector Partnerships – Hospitality
Boulder Chamber – Economic Vitality
Workforce Development
•Boulder Chamber is advancing Career Technical Education
programs.
•To date, the Chamber has supported
67 apprentices with a 73% completion rate.
•Currently, there are 14 active apprentices
in healthcare, finance, and manufacturing fields,
with 6 to 7 new apprentices preparing to
onboard in Fall 2024.
•Participant demographics: 71.5% Non-Hispanic, 21.5% Hispanic,
7% chose not to identify.
2024 BOULDER CHAMBER ECONOMIC COUNCILECONOMIC IMPACT SUMMIT
October 8, 2024
ACCELERATING ECONOMIC GROWTH
THROUGH
INNOVATION, INCLUSIVITY AND COLLABORATION
Boulder Chamber – Economic Vitality
Boulder Chamber - Economic Council
ECONOMIC SUMMIT – October 8, 2024
7:15 – 8:45
•Registration, Breakfast, and Interactive Exhibit Area
8:45 – 10:10
•Opening Remarks
•CU's Impact on Economic Vitality & Talent Development
•Colorado's Economy and Boulder's Contribution
10:10 – 10:30
•Intermission
DRAFT EVENT AGENDA (subject to change):
Boulder Chamber - Economic Council
10:30 – 12:00
•Exploring the Pulse of the U.S. Economy
➢Nicholas Sly, VP/Colorado Exec., Kansas City Fed
•Panel Discussion - Driving an Inclusive Economy
➢Empowering People, Fostering Entrepreneurship, and Embracing
Industry Diversity
•Closing
DRAFT EVENT AGENDA (subject to change):
ECONOMIC SUMMIT – October 8, 2024
•This quarterly index gauges Colorado business leaders’
opinions about economic trends and how their industry
will perform in the coming quarter
• Q2 2024 is the first quarter above neutral since Q2 2022
• Q3 2024 projects confidence above neutral
Boulder’s Economic Outlook
CU Leeds Business Confidence Index
Thank You