We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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That’s according to an Industry Cluster Study completed by the Metro Denver Economic Development Corp., which found the region has “all but erased job losses resulting from the economic recession of 2008-2010.”
The annual report analyzes eight industries: aerospace, aviation, bioscience, broadcasting and telecommunications, energy, financial services, health care and wellness, and information technology software.
“The stars are starting to align for our region,´ said Patty Silverstein, chief economist for the Metro Denver EDC. “Our cleantech industry now has some certainty with the extension of the Production Tax Credit for wind and Colorado has a lucrative tool – the Job Growth Tax Incentive – that has helped bring several hundred new jobs to the state in recent weeks.”
Every industry analyzed experienced job growth, with the exception of broadcasting and telecommunications, which saw a 1.1 percent drop in employment.
Traditional energy saw the most growth of all the sectors, posting a 9.3 percent increase in employment.
The diversity of the job growth puts the region in a strong place moving into 2013, according to a release from the Metro Denver EDC.
The location of a satellite U.S. Patent and Trademark Office in Denver and the beginning of United Airlines daily nonstop flights from Denver to Tokyo will also benefit the region in the year ahead, the EDC said.
“In the world of economic development, Metra Denver contends with staunch competitors every day,´ said Tom Clark, CEO of the Metro Denver EDC. “For the region landing the USPTO satellite office and the Tokyo direct flight are ‘game changers’ of which national site consultants and companies in expansion mode are definitely taking notice.”