Colorado remains competitive, innovative

DENVER – A report by the Metro Denver Economic Development Corp. says Colorado remains one of the top states in the nation in innovation, including top 10 rankings for venture capital per capita, initial public offerings and entrepreneurial activity.

“Colorado is continually at the top of the heap for innovation,´ said Patty Silverstein, chief economist for the Metro Denver EDC and author of “Toward a More Competitive Colorado.”

“The data clearly paints a picture of Colorado being a leader in this arena,” she said. “The state’s standing in innovation is perhaps Colorado’s best competitive advantage as the nation recovers from the recent recession.”

Highlights from the report include:
Colorado’s state GDP per employee ranks in the top 15 of all states.
The state is ranked sixth-best for economic outlook.
Colorado is ranked fourth for NASA Prime Contract Awards.
Colorado is the fourth-fastest-growing state in 2009 and 2010.
Colorado has the nation’s lowest obesity rate.
Colorado is fifth in initial public offerings.

The report also noted some challenges yet to be met, including the high cost of education in the state. The report said the percent of family income needed to pay for a four-year college education increased from 19.5 percent in 2000 to 30.3 percent in 2008.

“We must tackle the structural deficits that limit funding at our research universities and challenge our citizens’ ability to finance a college education,´ said Tom Clark, Metro Denver EDC executive vice president. “Left unattended, these challenges will compromise our innovation economy.”

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