For many years, Colorado was known for a select group of products: skiing, cattle and oil. While these industries still thrive, they are joined by an ever-growing array of high-tech and knowledge-intensive industries in one of the nation’s most dynamic and innovative economies. Colorado attracts and retains some of the nation’s best and brightest companies, from aerospace to quantum and bioscience to cleantech. Breakthroughs and technological advances that change lives around the world can be traced back to the state.
Innovation in Colorado: Developing Tomorrow’s Technologies
Colorado leads the world in quantum research, quantum companies and quantum jobs, advancing technologies that will solve complex problems and soon provide services and products in a manner that was impossible just a few years ago. The Elevate Quantum Tech Hub, headquartered in Colorado, leads a consortium of more than 120 organizations across the mountain west working to ensure the state and the region remain the global epicenter of quantum.
More than 2,000 aerospace companies also call Colorado home — representing 26 percent growth over the last five years. More people in Colorado work in aerospace per capita than any other state or country, and their work is advancing incredible new technologies. Approximately 200 Colorado companies are supporting NASA’s Artemis program to return Americans to the moon, and Ball Aerospace (now BAE Space and Mission Systems) was the prime contractor on the optics for the James Webb telescope, the world’s most advanced space research facility.
Coloradans are also at the heart of developing new climate technologies that will have direct applications for wildfire management, water resource management, agtech, mitigating extreme weather and earth sensing. Spearheaded by Innosphere Ventures, the CO-WY Climate Resilience Engine headquartered in Colorado is building on the state’s strong foundations in cleantech to advance this critical field.
These examples just scratch the surface of Colorado’s innovation ecosystem. The Semiconductor Industry Association places Colorado in the top 10 states with the resources and business ecosystem to support a strong semiconductor industry. The state is also home to a dense cluster of high tech and global companies, including Fortune 500 companies like Google and HP, and unicorns like Quantinuum and Radia.
These companies are joined by a vast ecosystem of small and medium-size enterprises and startups that work in all aspects of the value chain. Some of the technologies these companies are pioneering include GPS satellites, space stations, AI health analytics, smart grids, wind turbines, battery storage, hydrogen, quantum and cybersecurity, among many others.
Why Companies Choose Colorado
The strength of Colorado’s innovation ecosystem starts with an unparalleled workforce. Leading metrics in growth, educational attainment, STEM orientation and labor market participation consistently place the state at the top of workforce rankings, including the second-highest share of adults with an advanced degree. The Lumina Foundation has also recognized the state for being home to the largest percentage of people with work-ready credentials. Colorado workers have the motivation, knowledge and skills to tackle the world’s biggest challenges.
For companies in multiple U.S. or international markets, the central location also adds an ease to doing business. The Mountain Time Zone allows for same-day communications with Western Europe and East Asia during normal business hours. From Denver International Airport, executives and personnel can reach any major U.S. city in four hours. This can lead to real efficiency gains.
Colorado makes it easy to move goods as well. Denver is situated at the crossroads of major trucking routes along Interstates I-25, I-70 and I-76. The BNSF Railway and Union Pacific Railroad also own and operate thousands of miles of track in the state, and the Denver International airport moves over 732 million tons of cargo each year.
Companies also benefit from a collaborative and stable ecosystem. A nation-leading university system and an array of top federal research labs and military installations frequently collaborate with industry partners and each other for research and development (R&D) and commercialization projects, bringing stable R&D funding into the state.
This spirit of collaboration and stability extends to the state government. A legacy of good governance and business friendliness has consistently provided businesses with low-cost, stable conditions that allow them to grow. Additionally, smart, forward-looking policy brings long-term economic resilience. In recent years, the global energy transition, affordable health care, housing and workforce training have been cornerstones in planning for the future. Companies truly can pursue business in Colorado without worrying about overly burdensome regulations or whether they will have electricity during a winter storm.
Why Workers Love Colorado
Across the state, work-life balance and quality of life also create an atmosphere where workers feel fulfilled. That in turn makes them happier and more productive at work, especially compared to parts of the country where these values are less important. Workers and executives alike want to be in Colorado.
It is easy to see why. The abundance and quality of outdoor recreation activities in Colorado are well known. There are four national parks, eight national monuments, 26 world-class ski resorts and 43 state parks. There is something to do in every season for any activity level, making Coloradans the most active and least obese population in the nation.
Yet Colorado is also home to world-class urban amenities and cultural experiences. With four major population centers and 30 creative districts, the arts are just as central to the Colorado lifestyle as the outdoors. The Denver Performing Arts Complex is the second-largest arts campus of its kind in the nation, hosting sold-out shows of Hamilton and Cats. The Aspen Music Festival is one of the top classical festivals in the country, offering more than 400 music events over eight weeks. Add more than 120 museums, more than 260 performing arts venues and more than 180 art galleries across the state, and art lovers never run out of things to do.
Colorado also boasts five professional sports teams. Iconic stadiums like Coors Field and Empower Field at Mile High draw season ticket holders and first-time visitors alike. The state is also known for its love of breweries such as Fort Collins’ New Belgium and Coors in Golden, wineries and casinos. There truly is something for everyone to enjoy in Colorado.
It’s no wonder Colorado is one of the best states in the country to live, work, start a business, raise a family and retire. T&ID
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