Colorado’s tech industry drives state’s economy Technology companies spur jobs, wealth, innovation
By Doug Storum
It would be difficult to overstate the importance of the technology sector to the Colorado economy. From aerospace companies in Jefferson County to Internet firms along the Boulder Flatirons, from clean-tech companies in Northern Colorado to software developers in LoDo, technology-based companies have found a welcome home in the Centennial State.
All told, tech accounts for 11.3 percent of the stateâ€™s economy, according to the Cyberstates 2015 report by the Computing Technology Industry Association, with concentrations in aerospace, bioscience, clean tech, computer systems, data storage, mobile apps, software, telecommunications and much more.
Colorado and its constituent communities regularly rank at or near the top in a multitude of rankings for prowess in technology and innovation. Consider:
- Colorado ranks fourth in the nation for its science and tech capabilities, and its â€œsuccess at converting those assets into companies and high-paying jobs,â€ according to the California-based Miliken Institute.
- Denver ranks No. 10 among 200 metropolitan areas nationwide in terms of concentration of tech industries, according to Miliken.
- Colorado ranks as the No. 8 most-innovative state, according to a study by Bloomberg Rankings. The state received high marks for its percentage of STEM â€” Science, Technology, Engineering and Math â€” professionals as a percentage of the state population (3.21 percent), those with a science and tech degree (10.62 percent), utility patents as a percent of the U.S. total (2.02 percent) and public tech companies as a percentage of all public companies based in the state (17.18 percent).
- Colorado ranks third in the nation for concentration of tech workers â€” 9.2 percent â€” according to Cyberstates 2015.
- The Cyberstates report also tallies 186,149 technology-sector jobs in the state, along with 14,425 tech-company establishments.
Those trends and more are why the Colorado Technology Association teamed with BizWest Media LLC â€” publisher of BizWest, a biweekly business journal covering Boulder, Broomfield, Larimer and Weld counties â€” to produce this inaugural edition of Colorado Tech. This publication highlights the industries and trends that constitute the stateâ€™s technology scene, including listings of more than 2,000 of the stateâ€™s tech-based companies.
With this inaugural edition, weâ€™ve focused on the Denver metro area north to encompass Larimer and Weld counties. Future editions will flesh out our listings for those areas, as well as incorporate tech hubs in Colorado Springs and elsewhere.
As with any research project, Colorado Tech is a work in progress. If we missed your company, or if your listing is incorrect, please visit www.coloradotech.biz to submit your correct data.
In the meantime, weâ€™d like to thank the researchers who made this publication possible, including Paula Aven Gladych and Kiley Gant.
And we especially thank the more than 2,000 companies that responded to our survey and submitted their data.
We hope you enjoy this inaugural edition of Colorado Tech. Let us know how we did!
Jeff Nuttall and Christopher Wood are managers of BizWest Media LLC. They can be reached at email@example.com and firstname.lastname@example.org. Erik Mitisek is CEO of the Colorado Technology Association. He can be reached at email@example.com.