Overall, the new Denver office is expected to generate $440 million in economic activity over five years, according to Denver’s application for the facility. We believe that much of that activity will occur in the Boulder Valley, recognized nationally as a center for entrepreneurship and innovation.
Economic benefits of a patent office in such close proximity include:
• Ease of interviews with patent examiners. Local inventors and entrepreneurs no longer will have to travel to Washington, D.C., for interviews about their inventions, slashing costs and time associated with patent applications.
• Law firms specializing in intellectual property are likely to expand in the region, given an expected boost in patent activity.
• Denver-Boulder will prove even more attractive for expansion of high-tech companies, including aerospace, clean-tech, bioscience and other sectors.
Denver’s selection alongside Dallas-Fort Worth and San Jose also helps level the playing field going forward. Had Colorado not been selected, those cities would have had a distinct competitive advantage for growth of the high-tech sector.
Several individuals deserve credit for Denver’s selection. U.S. Sens. Michael Bennet and Mark Udall pushed legislation that required opening of additional patent offices and helped lead Denver’s campaign. Tom Clark, CEO of the Metro Denver Economic Development Corp., led a concerted effort by business and government leaders to promote the city’s bid.
They deserve thanks for a job well done.