Aviation Cluster in Metro Denver - NAIOP Colorado

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Dec 5, 2012 (4 years and 11 months ago)

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Key Industry Clusters

in Metro Denver

February 2010


Identify & Profile Industry Clusters


Recognize that all industries are important


Identify key industry clusters based on
economic data


Examine the short
-

and long
-
term prospects
for each industry cluster


Provide a detailed look at how each cluster
exists currently in Metro Denver

Key Metro Denver Industry Clusters


Aerospace


Aviation


Bioscience


Pharmaceuticals &
Biotechnology


Medical Devices &
Instruments


Broadcasting &
Telecommunications



Energy


Fossil Energy


Cleantech


Financial Services


Banking & Finance


Investments


Insurance


IT/Software

Aerospace


Critical Mass: Four military commands, several
universities involved in leading space research, eight
major space contractors


19,870 private employees plus 28,470 military personnel,
90 companies (CO 25,870
emps

& 120 cos.)


Ranked 2nd in employment concentration, 1st in absolute
employment (CO 1st, 3rd)


Employment growth rates:
-
1.2% in 2009, +2.3% average
annual from 2004
-
2009 (CO
-
1.8%, +2.5%)


2008 average annual salary $106,380 (CO $107,720)


Location factors: technical and scientific workforce,
proximity to vendors, pro
-
business government, proximity
to colleges and universities

Aviation


DIA passenger count exceeded
51M

in 2009, 3 reliever
airports, 5 general aviation airports


15,690 employees, 460 companies


Ranked 10th in employment concentration, 11th in
absolute employment


Employment growth rates:
-
1.5% in 2009, +1.3% average
annual from 2004
-
2009 (U.S.
-
5.6%, 0% )


2008 average annual salary $46,020 ($57,270 U.S.)


United Airlines, Frontier Airlines, Southwest Airlines


Location factors: air transportation location, quality of
life, costs of doing business, aviation training programs

Bioscience:

Medical Devices & Instruments


Fitzsimons Life Science District; Anschutz Medical
Campus; concentrations in Jefferson, Boulder Counties


Major Companies:
CaridianBCT

,
Covidien
,
Hach

Company,
Sorin

Group USA


9,480 employees, 270 companies (CO 11,080
emps

& 340
cos.)


Ranked 6th in employment concentration, 11th in
absolute employment (CO 7th, 11th)


Employment growth rates: +1.6% in 2009, +0.4% average
annual from 2004
-
2009 (CO 1.0%, +1.0%)


2008 annual average salary $62,770 ($63,080 CO)

Bioscience:

Pharmaceuticals & Biotechnology


10 higher education institutions with bioscience programs


5,610 employees, 250 companies (CO 6,070
emps

& 310
cos.)


Ranked 18th in employment concentration, 16th in
absolute employment (CO 21st, 19th)


Employment growth rates: +4.5% in 2009, +4.1% average
annual from 2004
-
2009 (CO 4.9%, +4.0%)


2008 annual average salary $88,700 ($88,820 CO)


Location factors: technical and scientific workforce,
affordable, competitive tax structure, access to financial
resources

Broadcasting & Telecommunications


Denver ranked fourth among the nation’s top ten “tech
poles” (Milken Institute, 2009)


41,390 employees, 1,790 companies


Ranked 4th in employment concentration, 9th in absolute
employment


Employment growth rates: +1.7% in 2009,
-
1.9% average
annual from 2004
-
2009 (U.S.
-
4.5%,
-
2.4% )


2008 annual average salary $83,150 ($74,200 U.S.)


Avaya, Comcast, EchoStar, Level 3, Qwest,
tw

telecom


Location factors: central location & easy global access,
concentration of technology workers, low business costs,
competitive tax structure, quality of life


Energy: Fossil Fuels


Integration of two
subclusters

key to future growth, such
as ConocoPhillips and Smart Grid technology


15,780 employees, 1,370 companies (CO 43,300
emps

&
2,120 cos.)


Ranked 8th in employment concentration, 7th in absolute
employment (CO 8th, 5th)


Employment growth rates: +0.4% in 2009, +2.1% average
annual from 2004
-
2009 (CO 1.2%, +8.6%)


2008 annual average salary $94,900 ($93,790 CO)


DCP

Midstream, EnCana, Suncor Energy, Xcel Energy

Energy: Cleantech


National Renewable Energy Laboratory, Colorado
Renewable Energy
Collaboratory
, numerous government
and research facilities


16,320 employees, 1,130 companies (CO 18,230
emps

&
1,530 cos.)


Ranked 7th in employment concentration, 8th in absolute
employment (CO 4th, 12th)


Employment growth rates: +4.6% in 2009, +3.5% average
annual from 2004
-
2009 (CO 3.7%, +3.0%)


2008 annual average salary $75,530 ($74,920 CO)


Location factors: access to natural resources, access to
scientific talent, higher education programs, access to
federal labs and private R&D facilities


Financial Services:

Banking & Finance


Major financial center between Chicago & LA


Federal Reserve Bank branch, Denver Mint


43,950 employees, 3,950 companies


Ranked 4th in employment concentration, 10th in
absolute employment


Employment growth rates:
-
0.3% in 2009,
-
1.6% average
annual from 2004
-
2009 (U.S.
-
1.4%,
-
1.4% )


2008 annual average salary $58,720 ($60,390 U.S.)


Employment concentrated in Denver, Arapahoe, and
Jefferson Counties

Financial Services: Investments


Charles Schwab was named “Deal of the Year” award
winner in 2009 by Metro Denver EDC


23,310 employees, 4,410 companies


91% of the companies have fewer than 10 employees


Ranked 7th in employment concentration, 12th in
absolute employment


Employment growth rates: +0.3% in 2009, +1.7% average
annual from 2004
-
2009 (U.S.
-
0.6%, +0.4% )


2008 annual average salary $133,770 ($195,400 U.S.)


Janus Capital Group, Oppenheimer Funds,
TIAA
-
CREF
,
Marsico

Capital Management


Financial Services: Insurance


26,690 employees, 3,570 companies


90% of insurance companies have fewer than 10
employees


Ranked 23rd in employment concentration, 14th in
absolute employment


Employment growth rates:
-
5.9% in 2009,
-
1.2% average
annual from 2004
-
2009 (U.S. +0.8%,
-
1.6% )


2008 annual average salary $61,150 ($69,980 U.S.)


Key location factors: large and qualified workforce,
quality of life, low business costs, competitive tax
structure, central location


Information Technology
-
Software


Colorado ranked third in high
-
tech workers per 1,000
private sector workers (
TechAmerica
, 2009)


42,300 employees, 3,960 companies


Ranked 9th in employment concentration, 12th in absolute
employment


Employment growth rates:
-
0.2% in 2009,
-
2.0% average
annual from 2004
-
2009 (U.S. +3.2%,
-
0.5% )


2008 annual average salary $91,060 ($88,370 U.S.)


IBM Corp., Oracle Corp., Sun Microsystems


Key location factors: technical talent, large customer base,
quality of life, low business costs, competitive tax structure

Key Metro Denver Industry Clusters



Employment

2009

Job
Growth

Concentration
Rank

(50 metros
)

Aerospace

19,900

-
1.2%

2

Aviation

15,700

-
1.5%

10

Bioscience


Pharmaceuticals
& Biotechnology

5,600

4.5%

18


Medical Devices
&
Instruments

9,500

1.6%

6

Broadcasting & Telecommunications

41,400

1.7%

4

Energy


Fossil
Fuels

15,800

0.4%

8


Cleantech

16,300

4.6%

7

Financial Services


Banking & Finance

44,000

-
0.3%

4


Investments

23,300

0.3%

7


Insurance

26,700

-
5.9%

23

IT/Software

42,300

-
0.2%

9

Development Research Partners

10184 West Belleview Avenue, Suite 100

Littleton, Colorado 80127

(303) 991
-
0070

www.DevelopmentResearch.net



Patricia Silverstein, President

Patty@DevelopmentResearch.net