In the US’s sprawling tech sector, Denver, Colorado is quickly rising as a new hub for development and job opportunities. It’s clear every industry is now a “tech” industry, and technology is being used by all of us in nearly every aspect of daily life. This blog will spotlight some of the recent activities, trends, and growth specific to Denver, Colorado and the technology industry. Denver’s cultural, economic, and technological uniqueness are key driving forces that are drawing more and more companies and opportunities to the mile-high city!
The Fast-Paced Growth Being Seen in Denver’s Tech Scene
Currently, of all the tech hubs in the US, Denver has the 9th-most employees in the tech industry. From 2014 to 2017, Denver’s tech jobs grew by 15.1%. As an up-and-coming tech scene, Denver is poised to be a leading center of technological innovation. It is centrally located, enabling convenient access from nearly anywhere in the continental US. It offers a highly-educated population, a concentrated talent pool of tech-centric professionals, and a vibrant and exciting culture that makes it an enjoyable location for work/life balance. Initiatives like Denver Startup Week have only added to the momentum, demonstrating how dedicated the city is towards startups.
Tech Companies Are Moving In; More Jobs Are on the Horizon
Silicon Valley is keenly aware of what’s happening in Denver and has been taking advantage of what the city has to offer. Amazon, Netflix, Facebook, and Apple all have headquarters in the Denver area, which is a pretty loud statement. Earlier this year, Amazon announced the expansion of its Denver Tech Hub, with a move that will open up 400 new jobs in software, engineering, advertising, and cloud computing. Considering Amazon’s presence currently has 3,500 full-time positions, it is certainly enticing to see that their expansion will have a continued positive effect on the local workforce.
Denver is Agile; the Business Landscape is Evolving with the Tech Industry
What makes Denver so inviting as a tech hub, in contrast to the monolith of Silicon Valley, is that it’s not Silicon Valley. Denver is smaller, the cost of living is still fairly reasonable, and it’s still in a growth phase. Denver is agile, enabling it to bend and accommodate to the needs of the market. Colorado is also a highly educated area, boasting the second-highest number of residents with bachelor’s degrees in the US at 41.2%, while the state has remained wholly affordable to live in. What this means is scaling a business in Colorado can be done more effectively and less expensively. With such a large pool of educated talent and the overall affordability of the area, Denver is positioned to evolve with the growing and changing needs of the tech industry.
Numbers Don’t Lie: Cost of Living VS. Expenses in Denver
The outdoor lifestyle, microbrewed beer, and conscientious attitudes are what many people know of life in the Rockies. While everyday life is about more than just laid-back enjoyment, quality of life is one of the most significant factors driving the growth in tech, in Denver. More and more people and companies are eschewing traditional notions of the rat-race lifestyle. Certain economic foundations make it an excellent place to exist in as well. For instance, the city offers high wages for workers across the spectrum, with a fairly high average income per household and a generally low cost of living. Compared to tech centers such as San Francisco, Boston, and San Jose, where rents are among the highest in the nation, Denver boasts exceptional affordability. Denver’s tech salaries average $100,000 per year, while average rent in Denver is approximately $1,600/ monthly, which is considerably low for a metropolitan location. Factor in the city’s low tax rates and a comfortable and fun environment, and you get a happy, productive, forward-moving population that is prepared for what comes next in tech.
With continuous growth and prosperity, and a business/ talent climate set up to handle the needs of the tech industry, Denver is becoming more recognized for what it offers the tech world. Along these lines, however, Denver hasn’t lost sight of what has made it thrive in the tech industry: Its unique vibe and personable feel. Due to the city’s ideal central position and its relative “newness” in tech, Denver has the ability to adapt to future business needs, and spur growth in ways that other tech hubs cannot.