BEC economic analysis examines education, telecommunication needs

BOULDER – In addition to the fact that job creation is rapidly outpacing population growth in the region, the BEC also made other several key observations in its regional economic analysis:

( The educational system – a “critical resource” for the business community, faces threats from a “combination of the growing population in the area, rapidly changing technology … and the lack of sufficient ongoing funding.”

( Telecommunication needs for both residents and businesses have expanded beyond the capacity of local providers to keep up with demand. “Current barriers to implementing a fully integrated and functional network throughout Boulder County,” the report states, “include the large initial cost for installation and the need for adequate service capacity and hookups.”

( With the economy running at “full tilt,” there continues to be a good supply of capital, both from venture capital and institutional sources. If interest rates rise or the economy is threatened, that “situation could change quickly.”

( Because a small number of large firms dominate the county’s economic structure, it’s possible that cooperative and coordinated private efforts among just a few of these firms could have a large upside in helping to address some of the problems identified by the BEC. The report notes that the largest 2.5 percent of county firms account for 50 percent of the region’s employment.

( Population and job growth continue to place a strain on the area’s transportation structure, resulting in longer commutes and increased levels of air pollution.

( Housing prices throughout the county, which used to be lower than the city of Boulder, now are reaching levels similar to the high prices in Boulder. A “relative” lack of higher density housing in the county was identified as a challenge.

on Facebook on LinkedIn