Information Technology
Colorado is an undeniable leader in technology
- AeA's "Cyberstates" 2006 edition ranked Colorado #1 in the country for concentration of high-tech workers, with 89 of every 1,000 private sector workers classified as high-tech.
- Corporation for Enterprise Development's, 'Development Report Card for the States, 2006' placed Colorado on its Honor Roll, one of only seven states to earn this distinction. Colorado received A's in the categories of Business Vitality, Development Capacity, Competitiveness of Existing Business, Entrepreneurial Energy, Financial Resources, and Innovation Assets.
- Milken Institute's "State Technology & Science Index" ranked Colorado third among all states in technology and science assets.
- National Policy Research Council's "America's Best Cities & States: The Annual Gold Guide to Leading Rankings," June 2003, ranked Colorado #2 overall among the 50 states in a diverse set of academic, research, association and trade group rankings. Denver ranked #1 among 50 major cities.
Selected Rankings from Various Technology Reports
Measure
Rank
Concentration of Technology Jobs
1
National Science Foundation Funding
1
Population with College Degree
2
New Companies
5
Business Starts
2
Small Business Innovation Research (SBIR) Grants
3
High tech industries with Location Quotient greater than 1
3
High Tech Exports
4
Long Term Job Growth
5
Initial Public Offerings
6
Venture Capital Investment
8
Households with Computers
6
Households with Internet Access
9
Industry Overview
Colorado is a national hub of IT innovation and business success, hosting more than 3,000 information technology and software companies, which employ more than 95,000 high-tech workers earning billions in wages. Denver, Boulder, Colorado Springs and Fort Collins all rank among the top 20 U.S. cities for concentration of software-related jobs, as determined by the American Software Association. |
Notable information technology companies include:
IBMSun Microsystems Oracle Seagate Technology Webroot Finali Statera Agilent Techologies Hewlett Packard EDS First Data Corp. PeopleSoft Ciber Inc. Cisco Systems EMC Corporation Idea Integration Encoda Inc. eCollege.com |
The highest concentration of info tech workers in the country can be found in Colorado, which is home both to Fortune 1000 companies and to smaller, growing businesses and start-ups.
With a critical mass of vibrant existing industry, a growing customer base, world-class research universities, a nation-leading technology workforce, ready access to capital, and a quality of life that will immediately enhance your employee retention efforts, Colorado is the ideal state for your information technology business.
Reasons to Locate Your Information Technology Business in Colorado
1. The ability to attract and retain high-quality, productive IT professionals and technical talent.
- With 35.5% of the adult population having completed a bachelor's degree or higher, Colorado ranks as the second most educated state in the country, behind Massachusetts. (American Community Survey, 2005)
- Colorado ranks fourth in the number of science and engineering graduate students enrolled in doctorate-granting institutions. (Corporation for Enterprise Development, 2006)
- The Boulder-Longmont area has the strongest per capita concentration of software employment in the U.S. (Software & Information Industry Association, 2004)
- Colorado ranks fifth in the software publishers industry with 13,700 workers. Further, for the seventh year in a row, Colorado has the most tech workers per capita in the nation with 89 of every 1,000 private sector workers employed in technology firms. Colorado tech workers earn 90% more than the average private sector worker. (AeA, Cyberstates 2006)
2. Direct access to a large and growing customer base.
- Metro Denver has about 500 employers that employ 250 or more workers and is home to ten Fortune 500 companies. (County Business Patterns, 2004 and Fortune, 2006)
- Colorado ranks fifth in new company formation and sixth in initial public offerings, strong measures of entrepreneurial energy. (Corporation for Enterprise Development, 2006)
- Colorado ranks third in the U.S. for obtaining research money from the Small Business Innovation Research (SBIR) program. The level of Small Business Innovation Research (SBIR) grants indicates the state's level of technological sophistication. (Corporation for Enterprise Development, 2006)
- Colorado ranks eighth in venture capital investments per employee, which is an indicator of a rapidly developing economy and multiple investment opportunities. (Corporation for Enterprise Development, 2006)
- Colorado ranks fifth in the country for the percentage of households with computers, indicating an advanced Internet infrastructure and usage. (Corporation for Enterprise Development, 2006)
- High-tech exports accounted for 55% of Colorado's exports in 2004, the fourth highest percentage in the nation. (AeA, Cyberstates 2006)
3. Low to moderate costs of doing business and a competitive tax structure.
- Colorado has the 12th most business-friendly tax climate in the nation according to the State Business Tax Climate Index. Colorado ranks sixth in the corporate tax index, a sub-index of the overall tax climate index. Colorado has the lowest corporate income tax rates in the nation with a rate of 4.63%. (The Tax Foundation, 2006)
- Colorado ranks fifth in the nation for economic competitiveness based on government and fiscal policy, security, infrastructure, human resources, technology, business incubation, openness, and environmental policy factors. (Beacon Hill Institute, 2005)
- Colorado is the 22nd least expensive state in the nation in which to do business, according to an index based on wage costs, taxes, electricity costs, and real estate costs for industrial and office space. (Milken Institute, Cost of Doing Business Index, 2005)
4. An overall better quality of life.
- Colorado residents enjoy an active, outdoor lifestyle contributing to our Mountain West quality of life. Metro Denver has ranked as one of the thinnest, fittest metro areas in the nation in a variety of health and fitness publications.
- Metro Denver was named as one of the nine most livable large cities in the United States. The 2004 livability list was based on creativity and the ability to prepare for the new economy. (Partners for Livable Communities, 2004) Fort Collins, Colorado Springs, Westminster and Longmont were selected by Money Magazine as four of the best places to live in the nation.
- Metro Denver's cost of living is lower than nearly all of its competitor metropolitan areas, much lower than many coastal cities. Other Colorado cities have even lower costs of living. (ACCRA, 2006)
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