Denver Businesses

Are Colorado Businesses Thriving?

The Colorado economy is growing, which has provided business owners in the state opportunity. Colorado’s status as a tourist destination and hub for outdoor recreation contributes to its ongoing economic success. Colorado has a booming tourism industry, which includes attractions including the Colorado Skiing Company and the Denver Zoo. Colorado boasts more than 15 ski resorts, many of them considered some of the best in North America. In addition to its natural beauty, Colorado offers plenty of opportunities for non-winter tourism all year round. This gives Colorado’s business owners a chance to capitalize on this popularity during every season. Not only does Colorado have an active tourism industry but it also offers active business incentives making it a good place for new and relocating businesses looking start up operations in Colorado. 

Business Types In Colorado

Colorado Businesses Colorado is the site of some of America’s most beautiful vistas and attracts visitors as well as Colorado residents in all seasons. Colorado’s business market, however, has evolved to provide more for Colorado businesses than just great views. Colorado boasts a large number of small businesses that contribute greatly to Colorado’s economy. Statistics show that Colorado regularly lands high on lists of states with strong economies; no doubt this success can be attributed in part to Colorado’s entrepreneurial spirit.

According to the U.S Census Bureau, there are 569,540 active businesses in the state and an estimated 1 million people employed by these companies (as of 2010). The Denver-Aurora Metropolitan Area ranks second highest in aerospace employment among cities nationwide; Colorado ranks tenth in private sector employment, and Colorado’s insurance industry is among the top ten in the nation. Colorado’s business market currently attracts many businesses with its abundant opportunities for outdoor recreation, quality of life for employees, and low operating costs. Colorado has also created an impressive network of business assistance programs to help Colorado businesses succeed.

Colorado industries Colorado’s economy depends on several prominent industries that include aerospace, agriculture/food processing, renewable energy development, information technology (IT) services and telecommunications operations. The state also supports numerous small businesses providing unique products and services to Colorado residents and visitors alike. Colorado is also home to more than 20 Fortune 500 companies which contribute greatly to Colorado’s strong economic foundation:

Aerospace Companies : Aerospace firms provide Colorado jobs through both Colorado-based enterprises and the Colorado subsidiaries of large corporations. Colorado aerospace companies build airplanes, helicopters, spacecrafts, missiles and other devices (including classified projects). Colorado aerospace products include components for NASA’s space programs as well as for commercial planes. Colorado aerospace companies are located in Colorado Springs, Pueblo, Denver, Boulder and Greeley.

Agriculture/Food Processing : Agriculture is still a major industry in Colorado contributing to the state economy by providing food processing services such as meat packing and farming equipment manufacturing. Over 80% of Colorado’s land is used for crops – mostly corn; wheat is Colorado’s second most important crop after corn with 10 million acres dedicated to its production alone.