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Q: What drives Denver's economy? ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: What drives Denver's economy?
Category: Business and Money > Economics
Asked by: shikibobo-ga
List Price: $10.00
Posted: 08 May 2004 08:06 PDT
Expires: 07 Jun 2004 08:06 PDT
Question ID: 343179
What drives Denver's economy? (Major industries, most important
business segments, huge employers, etc.)
Answer  
Subject: Re: What drives Denver's economy?
Answered By: googlenut-ga on 09 May 2004 18:57 PDT
Rated:5 out of 5 stars
 
Hello again shikibobo-ga,

Telecommunications, technology and tourism are large drivers of
Denver?s economy.  Government (federal, state and local) is Metro
Denver?s largest source of employment, followed by retail.  The
largest private employer is Wal-Mart Inc. with 21,600 employees in
2003, followed by King Soopers Inc. Retail Grocery Stores with 15,405
employees and Qwest Communications with 13,200 employees.



References:


Metro Denver Economic Development Corporation
Annual Average Employment by Major Industry
Metro Denver Area
Annual Average 2002
(Microsoft Excel format)
http://www.metrodenveredc.org/documents/Average%20Employment%20by%20Major%20Industry%202002.xls
Government, 183,964
Retail trade, 139,230
Health care and social assistance, 108,630
Accommodation and food services, 107,559
Professional and technical services, 104,241


Metro Denver Economic Development Corporation
Detailed Annual Average Employment by Industry
Metro Denver Area
Annual Average 2002
(Microsoft Excel format)
http://www.metrodenveredc.org/documents/Detail%20Average%20Employment%20by%20Industry%20annual%202002.xls
Government, total - 183,964
Federal, 38,519
State, 113,351
Local, 32,094


Metro Denver Economic Development Corporation
Twenty Largest Private-Sector Employers
Metro Denver Area 2003
(Microsoft Excel format)
http://www.metrodenveredc.org/documents/Twenty%20Largest%20Private%20%20Employers%20(1.5.2,%206.2.2).xls
Wal-Mart Inc., 21,600
King Soopers Inc., 15,405
Qwest Communications International Inc., 13,200
Centura Health, 12,362
Safeway Inc., 11,137


Metro Denver Economic Development Corporation 
2004 ECONOMIC FORECAST
FOR METRO DENVER
http://www.metrodenveredc.org/documents/2004_Econ_Forecast.pdf
?It is good news for metro Denver and Colorado that economic growth is
strengthening at the national and international levels. While recent
local economic signals are mostly positive and indicate the worst is
behind us, the national recovery is not yet fully engaged in Colorado.
Metro Denver sustained heavy hits to the telecommunications and
high-tech industries, industries that will see slow recovery
throughout 2004 and into 2005. Slow recovery in these key industries
leads to a forecast of sluggish economic conditions continuing
throughout the first half of 2004 with employment activity increasing
in the latter half of the year.?

---

?For the fourth year in a row, Colorado posted the highest
concentration of high tech workers in the country with 98 of every
1,000 private sector workers employed in tech firms. The annual
CyberStates survey by the American Electronics Association found that
Colorado had 177,680 high tech workers in 2002, a decline of nearly
27,000 jobs compared to the previous year. Colorado placed fifth in
software publishing employment and seventh in computer and peripheral
equipment manufacturing employment.?


The City and County of Denver 
DENVER: THE ROCKY MOUNTAIN METROPOLIS HISTORY 
http://www.denvergov.org/aboutdenver/history_timeline_short.asp
?Denver?s economic base has come to include skiing and tourism,
electronics, computers, aviation and the nation?s largest
telecommunications center. As the regional center of a vast mountain
and plain hinterland, Denver boasts more federal employees than any
city besides Washington, D. C.?


The City and County of Denver
A Business Profile of Denver 
http://www.denvergov.org/Business_Development/template33655.asp 
http://www.denvergov.org/admin/template3/forms/A%20Profile%20of%20the%20City%20of%20Denver%202002new.doc
(Microsoft Word Format)
?The high tech industry has seen dramatic growth over the last ten
years in Colorado.  As the birthplace of cable television and now as
an expanding telecommunications center, Denver is known as a location
of choice for high tech companies. There are 5,500 high tech
businesses in the State of Colorado, and high tech exports totaled
$3.6 billion in 1999. High technology exports compromise 61% of all
exports from Colorado, the 4th highest concentration nationally.?


ABCNEWS.com
Mile-High Money Problems
Denver Facing Fires, Drought and Economic Recession
http://abcnews.go.com/sections/wnt/US/denver030423_economy.html
?Telecommunications, technology, travel and tourism grew so big, so
fast that today all three industries are in steep decline. In the last
year, telecom giant Quest laid off 1,500 workers and United Airlines,
which owes the city more than $13 million in landing fees and rent,
laid off 1,200 people.?

---

?As the gateway to the mountains, Denver depends on tourism. Last year
it was a disaster. Nearly $2 billion went up in smoke because of the
devastating fires and drought. This winter's blizzard helped ski
conditions but kept skiers stranded at the airport.?


Denverpost.com
Report: Tourism rebounding from city's economic malaise
http://www.denverpost.com/Stories/0,1413,36~33~2129822,00.html


The City and County of Denver
C O U N T Y/ C I T Y P R O F I L E
City & County of Denver, Colorado
http://www.denvergov.org/Moedit/denver_profile.pdf


Metro Denver Economic Development Corporation 
Data Center: Workforce
http://www.metrodenveredc.org/DataCenter/Workforce/Workforce.icm


Metro Denver Economic Development Corporation 
The Metro Denver Economy
Monthly Economic Summary for May 2004
http://www.metrodenveredc.org/DataCenter/DenverEconomy/MonthlyEconSummary.icm


U.S. Department of Labor
Bureau of Labor Statistics
Denver, CO
Economy at a Glance
http://www.bls.gov/eag/eag.co_denver.htm



I hope you have found this information helpful.  If you have any
questions, please request clarification prior to rating the answer.

Googlenut



Google Search Terms:

denver economy
://www.google.com/search?q=denver+economy&btnG=Search&hl=en&lr=&ie=UTF-8&oe=UTF-8&safe=off

denver "economic base"
://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q=denver+%22economic+base%22&btnG=Google+Search

denver economy OR economic tourism OR technology
://www.google.com/search?hl=en&ie=ISO-8859-1&oe=ISO-8859-1&q=denver+economy+OR+economic+tourism+OR+technology&btnG=Google+Search

denver economic drivers OR base
://www.google.com/search?q=denver+economic+drivers+OR+base&hl=en&lr=&ie=ISO-8859-1&oe=ISO-8859-1&safe=off

Clarification of Answer by googlenut-ga on 09 May 2004 19:05 PDT
The link to the Twenty Largest Private-Sector Employers didn't come
through properly.  It will work if you copy it and paste it into your
browser.

I apologize for the confusion.

Googlenut
shikibobo-ga rated this answer:5 out of 5 stars and gave an additional tip of: $5.00
Tremendous.

Comments  
Subject: Re: What drives Denver's economy?
From: googlenut-ga on 13 May 2004 20:40 PDT
 
Thank you for the tip!  I'm glad I was able to help.

Googlenut

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