Transcription
2017 Economic Profile
At a GlanceJefferson County, Colorado forms the western boundary of metropolitanDenver and offers a diversified geographical setting, from urban and rurallifestyles, to thriving mountain communities in the beautiful Rocky on828588470Conifer285Workforce & PopulationThe county is home to some of the world’s most successful and diversecompanies that are creating world-class technologies and products. Thesecompanies are benefiting from the many qualities that make Jefferson Countya premier business location.HIGHLY EDUCATED WORKFORCE – Jefferson County has a nationallyacclaimed K-12 school district and a highly educated workforce. Morethan 42% of the residents in the county have a bachelor’s degree or higher,helping position Colorado as the nation’s second-most educated workforce.Businesses in the county have access to a labor market that boasts the thirdhighest concentration of high-tech workers in the nation.BUSINESS-FRIENDLY TAX ENVIRONMENT – Companies in Jefferson Countyenjoy a pro-business tax climate that rewards investment, growth andinnovation. With a low tax environment at state and local levels, the countycontinues to provide a business-friendly environment.STRATEGIC LOCATION – WIth its close proximity to Denver InternationalLabor ForceTOTAL LABOR FORCEUNEMPLOYMENT RATEJeffersonCountyDenver urce: Colorado Department of Labor & Employment, 2015,and Development Research PartnersPopulationJeffco OnlyPopulationJEFFERSON 7CENTER OF EXCELLENCE – Jefferson County is at the epicenter of innovationMOUNTAIN 5WHEAT R MSA3,075,701N/ACOLORADO5,456,584N/AUNMATCHED QUALITY OF LIFE - With over 300 days of sunshine and diverserecreational opportunities, Jefferson County is one of the most active andhealthiest regions in the country.Jefferson CountySQUARE MILES773.2POPULATION565,230MEDIAN AGE41.3HOUSEHOLDS237,147LABOR FORCE317,527NUMBER OF JOBS234,662AVERAGE WAGEUNEMPLOYMENT RATE2 Jefferson County EDC Economic Profile At A Glance 54,392.004.3%85 yrs 5 yrs1.9%5%65-74yrs5-14 yrsAirport and major transportation corridors, Jefferson County’s integrated,cutting-edge infrastructure helps businesses efficiently reach markets locallyand internationally.and entrepreneurial activity. The county’s prominent role as a high-tech leaderis greatly enhanced by the presence of the National Renewable EnergyLaboratory and the Colorado School of Mines.75-84yrs9.4%TotalPopulationBOW MAR*Age Distribution12.3%55-64yrs15-24 yrs15.1%12%45-54yrs14.8%25-34 yrs12.5%35-44yrs12.7%Source: U.S. Census Bureau, 2015Cultural DiversityAmerican Indian, Asian & PacificAlaska NativeIslander1.7%2.9%Black or AfricanAmericanOther1.7%1.1%Hispanicor Latino*Municipality is located in multiple counties.Source: Colorado State Demography Office, 201614.3%White78.3%Source: U.S. Census Bureau, 20152.5%Workforce & Population Jefferson County EDC Economic Profile 3
Business & IndustryBusiness & IndustryTop Primary EmployersLocal & State TaxesEmployerProduct/ServiceEmployeesAerospace & Defense6,274Medical Services2,506Beverages2,255Medical Technology2,220Medical Services1,800Research Laboratory1,700City/Special DistrictsAerospace Mfg. & Bottle Facility1,573STATE INCOME TAXLOCKHEED MARTINLUTHERAN MEDICAL CENTERMILLERCOORS BREWING COMPANYTERUMO BCTST. ANTHONY HOSPITALNATIONAL RENEWABLE ENERGYLABORATORYBALL CORPORATIONFIRSTBANK HOLDING CO. OFCOLORADOFinancial ServicesHOMEADVISOR1,132Ceramic Component Mfg.1,100Healthcare680COORSTEKKAISER PERMANENTECommercial PropertyIndustryMILL ent2,167BANKING & FINANCE5663,692BROADCASTING 4356,7672.4%FOSSIL 470IT-SOFTWARE9026,841MEDICAL DEVICE & DIAGNOSTICS623,346PHARMACEUTICALS &BIOTECHNOLOGY413858,12168,7814 Jefferson County EDC Economic Profile Business & IndustrySchool District45.941 millsVaries by locationPersonal Income Tax4.63%Corporate Income Tax4.63%SINGLE FACTOR TAX APPORTIONMENT- Colorado simplified its corporate1.6% Construction5.0%20Source: Development Research Partners, 201624.709 millsMill rates (dollars of tax per 1,000 of assessed valuation) are determined byindividual entities within Jefferson County. Real and business personal propertyare assessed at 29%.Source: Colorado Division of Property Taxation, 2017 &Jefferson County, 2017BEVERAGE PRODUCTIONTotalJefferson CountyAgriculture& 50MORRISON2.93.750.51.18.25MOUNTAIN MINSTER2.93.850.51.18.35WHEAT 0*Jeffco Open Space**Regional Transportation District/Cultural Facilities DistrictEmployment DistributionEstablishmentsHEALTHCARE & WELLNESS29%Residential PropertySource: Jeffco EDC, 2017Industry Cluster BreakdownRTD/State City County* CD** TotalASSESSMENT RATIOS1,372Home Improvement & RepairSales Tax ucation &HealthServices35.9%income tax structure in 2008 changingfrom multiple factor to single factorapportionment, which assesses taxes ona company’s sales in Colorado only.OCCUPATIONAL HEAD TAX – JeffersonCounty does not charge an occupationalhead tax to employers and employees.RIGHT TO WORK - Colorado is amodified right-to-work state, withthe most progressive labor law in thecountry. The Colorado Labor Peace Actrequires two elections and approvalfrom 75 percent of a company’sworkers before becoming unionized.State Incentives & ResourcesColorado offers various targeted tax and cash incentive programs tocompanies creating new jobs and investment in the state.RetailTrade24.2%Local Property Tax Incentives & RebatesFinance,Insurance,Real EstateTransportation,Communication& Utilities5.8%2.4%Local governments can provide property tax credits or incentives forqualifying businesses in its jurisdictions.Source: Colorado Department of Labor & Employment, 2017Business & Industry Jefferson County EDC Economic Profile 5
EducationJefferson County Colleges &UniversitiesCOLORADO CHRISTIAN UNIVERSITY – CCU delivers world-class education to thousands of students and offers morethan 50 accredited degrees and programs.The university iscurrently redeveloping its campus in Lakewood.This 120million project will completely transform the campus with 11new buildings totaling 700,000 square feet.COLORADO SCHOOL OF MINES – Ranking as the number oneengineering school in the nation, Mines is a public researchuniversity devoted to engineering and applied science.Theuniversity has one of the highest admission standards of anypublic institution in the nation.RED ROCKS COMMUNITY COLLEGE – RRCC offers morethan 150 programs and 650 courses leading to two-yeardegrees and professional certificates. The college is oneof the only community colleges in the nation to offer amaster’s degree in Physician Assistant studies. RRCC hastwo campus locations in Lakewood and Arvada. Its Arvadacampus recently expanded with a new 50,000 sq. ft. HealthProfessions and Science building.ROCKY MOUNTAIN COLLEGE OF ART & DESIGN – RMCADis a private art institution offering campus and onlineundergraduate and graduate degrees for creative careers.EducationEducational Attainment% of TotalJEFFERSON COUNTYHigh school diploma or higher94.4Bachelor’s degree or higher43.2COLORADOHigh school diploma or higher92.1Bachelor’s degree or higher39.2US AVERAGEHigh school diploma or higher87.1Bachelor’s degree or higher30.6Source: US Census Bureau, American Community Survey, 2016Higher EducationFall EnrollmentJeffco Public Schools has been providing educationalexcellence for more than 60 years. Approximately ninepercent of all the K-12 students in Colorado attend a JeffcoSchool. The official enrollment count for the 2015-16 schoolyear is 86,721.5,932Colorado State University27,935Metro State University20,155University of Colorado - Boulder31,663University of Colorado - Denver18,658University of Northern Colorado10,0584-YEAR PRIVATE COLLEGES & UNIVERSITIESColorado Christian University*5,787Johnson & Wales1,388Regis University9,208University of Denver11,797TWO YEAR PUBLIC COLLEGESAims Community College5,298Arapahoe Community College10,004Community College of Aurora6,943Front Range Community College18,747Red Rocks Community College*7,789Rocky Mountain College of Art & Design*Total Fall Enrollment760192,122Jefferson County¹Highlights- Jeffco students continue to outperform the state in allgrade levels and content areas on CMAS and PSAT 10tests.82.8%- In 2016, Jeffco high school graduates receivedapproximately 75 million in scholarships.- U.S. News & World Report ranks eight Jeffco high schoolsin the top 50 schools in Colorado on their 2016 Best HighSchools list: D’Evelyn (#4), Evergreen (#13), Conifer (#17),Lakewood (#20), Chatfield (#25), Ralston Valley (#27),Dakota Ridge (#42), and Bear Creek (#45).4-YEAR COLLEGES & UNIVERSITIESColorado School of Mines*High SchoolGraduation StatisticsColorado²U.S. Average³78.9%83.2%Sources: Colorado Department of Education¹,², 2016U.S Department of Education³ACT Test Scores21.6Jefferson CountyMetro Denver20.620.8Colorado20.6US AverageSAT Test ScoresReadingWritingMathematicsCOLORADO587571589US AVERAGE494482508Source: Colorado Department of Education, 2016*Located in Jefferson CountySources: Colorado Commission of Higher Education & individual universities6 Jefferson County EDC Economic Profile EducationEducation Jefferson County EDC Economic Profile 7
DENVER INTERNATIONAL AIRPORT (DEN) – Built in 1995,Major Business ParksDEN is the 15th busiest airport in the world, and the 5thbusiest in the U.S. With more than 53 million passengers eachyear, DEN is one of the of the most efficient airline hubs inthe world. Home to 15 commercial carriers, the airport hasmore than 170 nonstop destinations, including 19 internationallocations. The airport’s new transit center opened in 2016,connecting passengers to downtown Denver’s Union Station.ROCKY MOUNTAIN METROPOLITAN AIRPORT (RMMA) –Located in the north region of Jefferson County, RMMA isthe closest airport to both downtown Denver and Boulder.RMMA serves as a reliever airport to Denver InternationalAirport, and is the fourth busiest airport in Colorado.International travelers at RMMA have convenient access to anon-site U.S. customs office operating 24 hours per day.The absence of landing fees at RMMA make clearing U.S.customs easy and cost effective.Verve Innovation Park is adjacent to RMMA on thesouthwest side, and consists of 573 acres of land availablefor development. The park is zoned for mixed-use, to includecommercial, office, light manufacturing, and aviation.8 Jefferson County EDC Economic Profile TransportationTHE REGIONAL TRANSPORTATION DISTRICT (RTD) –FASTRACKS PROJECT is the nation’s largest voter-approvedtransit expansion program. When complete in 2019, the 7.4billion project will provide 122 miles of commuter/light railwith 57 stations and 18 miles of bus rapid transit for easyconvenient connections across metro Denver.Serving Jefferson County is the West Rail Line and the GoldLine.Real Estate Market OverviewExistingSq. Ft.%VacantAvg. LeaseRate(Per Sq. Ft.)Class A63,960,40410.1 30.41637Class B94,836,07210.0 22.56VERVE INNOVATION PARK AT RMMA573Class C21,570,5614.2 18.59FEHRINGER RANCH493DENVER WEST BUSINESS PARK450Class A5,416,1757.3 25.60WESTMOOR TECHNOLOGY PARK425Class B13,927,86013.8 19.09UNION BOULEVARD CORRIDOR418Class C3,453,9585.7 15.68COORS TECHNOLOGY CENTER375KEN CARYL BUSINESS CENTER300LAKEWOOD TECHNOLOGY PARK300ExistingSq. Ft.%VacantAvg. LeaseRate(Per Sq. Ft.)ACADEMY PARK250CHURCH RANCH CORPORATE CENTER145IndustrialWarehouse132,357,4193.9 7.37MOUNTAIN PLAINS INDUSTRIAL CENTER138Flex/R&D10,091,32511.2 11.96GENESSEE BUSINESS PARK110BELMAR1047,945,4733.5 8.31CANYON VIEW BUSINESS PARK100IndustrialWarehouseJEFFERSON CORPORATE CENTER93Flex/R&D1,402,7844.3 10.24CIRCLE POINT CORPORATE CENTER82CORPORATE CENTER79Jeffco34,558,1215.2 13.88JEFFERSON I RESEARCH CENTER70Metro Denver164,909,2304.5 16.55JEFFERSON II RESEARCH CENTER5444TH INDUSTRIAL PARK51Business ParkAcresCANDELAS1,451OfficeROONEY VALLEY1,276DENVER METROKELLER FARMS1,200DENVER FEDERAL CENTERJEFFCOIndustrialDENVER METROSource: CoStar Realty Information, Inc., 2016Real EstateJEFFCORETAILConstruction Cost IndexMaterialsInstallationCompositeSAN TA98.175.688.6CHICAGO99.9140.4117.8LOS ANGELES100.2117.2107.1KANSAS 73.088.4DALLAS99.267.985.4Source: Building Construction Cost Data, 2016TransportationReal Estate Jefferson County EDC Economic Profile 9
Living HereLiving HereHousehold IncomeHealthcareJefferson County Housing CostsLUTHERAN MEDICAL CENTER is a community-based, acute-care hospital located inLESS THAN 14,9996.7% 15,000- 24,9996.4% 25,000- 34,9998.1% 35,000- 49,99912.4% 50,000- 74,99918.1%Median HomePriceAverage MonthlyRentHomeownerVacancy RateRental VacancyRate 75,000- 99,99914.7% 419,445 1,3430.9%4.1% 100,000- 149,99918.3% 150,000- 199,0008.1% 200,000 7.1%Source: U.S. Census Bureau, 2015, and Colorado Comps, 2016ST. ANTHONY HOSPITAL, located in Lakewood, provides expert care withSource: U.S. Census Bureau, 2015Per Capita Personal IncomeSource: U.S. Census Bureau, 2015COLORADO HAS THE NATION’S LOWEST OBESITY RATEAND RANKS FIRST FOR PHYSICAL ACTIVITY(Kaiser State Health Facts, ouAveragntyeoadinnovative technology. As a Level I Trauma Center, St. Anthony Hospital is a primaryreceiving center for the region’s most seriously ill and injured patients, and is theheadquarters for Flight for Life Colorado. St. Anthony provides services in cardiology,stroke, neurosciences, oncology, and orthopedics. In addition, the St. Anthony MedicalCampus is home to a Comprehensive Stroke Center, Neuroscience Center, CancerCenter, Breast Center and OrthoColorado Hospital, the only orthopedic specialtyhospital in the region.in the cities of Arvada, Lakewood, Westminster and Wheat Ridge, as well as in theunincorporated areas of the e94.698.695.2102.195.398.6SAN FRANCISCO132.8334.4107.3133.1118.2181.9WASHINGTON 396.498.9100.7108.3103.210 Jefferson County EDC Economic Profile Living Hereof Jefferson County citizens in1972 to preserve open space landfor present and future generations.The nationally recognized programis funded by a 0.5% sales tax onthe county’s retail sales. To-date,the program has acquired 43,675acres with 236 trail miles, and seesover 2.4 million visitors annually.KAISER PERMANENTE serves its Jefferson County members from medical facilitiesGrocerySource: The Council for Community and Economic Research, 2016JEFFERSON COUNTY OPEN SPACEPROGRAM was created by a voteDAYS OFSUNSHINE PER YEARHOTTEST MONTHCOLDEST MONTH300 July(88 avg. high)December(14 avg. TY15.54 inches (avg.)55 inches (avg.)38%Source: National Oceanic & Atmospheric Administration, : U.S. Census Bureau, 2015Median Household IncomeCost of Living IndexWheat Ridge. Local and national ratings organizations regularly recognize Lutheranfor clinical excellence, patient safety and patient experience. Lutheran’s premierservices include a five-star birthing center, Heart and Neurovascular Center, roboticsurgery, Primary Stroke Center, Comprehensive Cancer Center, Orthopedics, aLevel III Trauma Center, and emergency services including the first Senior EmergencyRoom in Colorado. Senior-focused services also include Senior Behavioral Healthand a Senior Surgery Center. Lutheran operations Include West Pines, LutheranHospice, Bridges Health and Wellness, and Colorado Lutheran Home andApartments.Living Here Jefferson County EDC Economic Profile 11
Aims Community College 5,298 Arapahoe Community College 10,004 Community College of Aurora 6,943 Front Range Community College 18,747 Red Rocks Community College* 7,789 Rocky Mountain College of Art & Design* 760 Total Fall Enrollment 192,122 *Located in Jefferson County Sources: Colorado Commission of Higher Education & individual universities
