Monday 27 May, 2013
Denver has been known for many years as a business hub, tech center and energy innovator. For over a hundred years it has been known as the ‘Wall Street of the West’ because it’s the largest financial center between Los Angeles and Chicago. But the future appears even brighter for the Mile High City. All forecasts predict that Denver will be an important city in the American landscape in the coming years.
The Center of the Nation
The United States population is moving south and west. Cities on the Gulf Coast and in the mountain west will be cultural and economic centers in the decades to come. As the population shifts to the south and west, Denver will become the geographic center of the country. The city expects major population growth, which in turn will drive all areas of the economy.
Denver’s Startup Scene
It’s predicted that in the coming decades, more than half of Denver’s economy will be driven by small businesses. There is a budding startup scene and the city has a legacy of technological innovation, producing such household internet names as MapQuest and Photo Bucket. The startup scene in Denver is small but growing at a fast pace, with Denver Startup Week and other community networking events being held each year. There is also a homegrown venture capital scene that’s growing.
It helps a great deal that Denver’s city government is so pro-business. Denver Mayor Michael Hancock is ardently pro-business. He has enacted and supported measures like JumpStart 2013 to spur job creation and economic development. Not only does the government support businesses, but it also works to make them sustainable. Denver has always been a national leader in this area.
A Great Place for Businesses
Denver is ideal for businesses and this will help it grow economically in the future. It is a transportation hub, with Denver International Airport, major rail lines, and easy access to Interstate-70. It’s a Foreign Trade Zone, which encourages local businesses to operate globally without penalty. It has a huge and growing high-tech workforce and it’s one of the few cities in the United States where there are people and businesses moving downtown instead of flying to the suburbs. There is also easy access to raw materials in the area which has always been a boon to the economy. Like the rest of the country, Denver is struggling to pull itself out of a recession, but economic recovery is swifter here than in other areas.
Finally, what helps all of this is the strong sense of community Denver citizens have. Consumers in Colorado love buying local. Even though Denver is a huge metropolitan area, there is a sense of a business community where businesses network, work together, and help each other out.