Boulder Economic Summit The Future of the Talent-Driven Economy
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1 Boulder Economic Summit The Future of the Talent-Driven Economy Richard Wobbekind Executive Director Business Research Division & Senior Associate Dean Leeds School of Business
2 National Employment Thousands, Monthover-Month Recession 8 Months Recession 18 Months Month Moving Average Sources: Bureau of Labor Statistics (Seasonally Adjusted), National Bureau of Economic Research, and Moody s Analytics.
3 Employment Recovery National, State, and Local Percent Boulder Colorado National Number of Months Since Peak Source: Business Bureau Research of Labor Division Statistics (Seasonally Leeds School Adjusted). of Business University of Colorado
4 Labor Force Participation Rate Working Age Population Percentage Sources: U.S Bureau of Labor Statistics, Moody s Analytics (ECCA) Forecast.
5 Labor Force Participation Rate Percentage Colorado National Sources: U.S Bureau of Labor Statistics.
6 Colorado Population Demographics, ,000 90,000 80,000 70,000 60,000 Next generation (2000+) Millennial ( ) Gen X ( ) Baby Boomers ( ) Silent Generation ( ) Greatest Generation (-1928) 50,000 40,000 30,000 20,000 10,000 0 Source: Colorado Department of Local Affairs, State Demography Office.
7 Boulder Population Demographics, ,000 7,000 6,000 5,000 Next generation (2000+) Millennial ( ) Gen X ( ) Baby Boomers ( ) Silent Generation ( ) Greatest Generation (-1928) 4,000 3,000 2,000 1,000 0 Source: Colorado Department of Local Affairs, State Demography Office.
8 Prime Working Age Thousands 50% 49% 48% Boulder 47% 46% 45% 44% 43% 42% 41% National Colorado 40% Source: Colorado Department of Local Affairs, State Demography Office.
9 Old Age Dependency Ratio Thousands 25% 20% 15% National Colorado 10% Boulder 5% 0% Source: Colorado Department of Local Affairs, State Demography Office.
10 Labor Force Participation Rate Forecast Percent Colorado Boulder Source: Colorado Department of Local Affairs.
11 Colorado Labor Force and Population Growth Rates, Labor Force Population Source: Colorado Department of Local Affairs.
12 Educational Attainment (25+) 45% 40% 35% 30% United States Colorado Boulder County City of Boulder 25% 20% 15% 10% 5% 0% Some HS or Less HS graduate Some college Bachelor's degree Advanced degree Sources: US Census, 2013 American Community Survey.
13 Boulder County Employment and Education, 2013 Other 59% Employment by Occupation Management 5% Bus. and financial operations 7% Computer and math 7% Architecture and engineering 4% Science 3% Education training 7% Arts and entertainment Healthcare 2% 5% Educational Attainment Adults over age 25 with a bachelor s degree or higher U.S. 29.6% Colorado 37.8% Boulder 58.5% Adults over age 25 with a high school diploma U.S. 86.6% Colorado 90.5% Boulder 93.0% Sources: Bureau of Labor Statistics, Quarterly Census of Employment and Wages; Census, 2013 American Community Survey 1-Year Estimates.
14 Boulder MSA Occupations (SOC) Location Quotient 5.0 Business and Financial Sales and Related Life Physical and Social Science Computer and mathematical Food preparation and Serving Architecture and Engineering Production -6.0% -4.0% -2.0% % 2.0% 4.0% 6.0% 8.0% Healthcare 0.5 Education Training and Practitioners and Production Management Library 0.0 Technical 5 Year CAGR Sources: Bureau of Labor Statistics Occupational Employment Statistics.
15 Boulder MSA Occupations (SOC) Top 5 Employment Top 5 Location Quotient 25, , , , , Office & Admin Support Sales Food Prep & Service Busn & Education Financial & Library Ops 0.0 Life Computer Sciences & Math Arch. & Engr. Art Design Sports & Media Busn & Financial Sources: Bureau of Labor Statistics Occupational Employment Statistics.
16 Commuting Patterns Drive alone to work Alternative transportaion Walk, bicycle, or other means Work at home U.S. Residents CO Residents Boulder County Residents City of Boulder Residents Source: 2013 American Community Survey, US Census Bureau. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
17 University of Colorado Employee Commute 12.0% 3 year CAGR 10.0% 8.0% Denver 6.0% 4.0% 2.0% Broomfield Thornton Longmont Boulder Louisville Lafayette Erie Golden Arvada Westminster Northglenn 0.0% Nederland -2.0% Lyons -4.0% Driving Miles to CU Source: University of Colorado Boulder, 2011.
18 City of Boulder Ecosystem Most educated community in U.S. (BLS) Highest high-tech startup density in U.S. (Kauffman) Highest ranked creative class community in U.S. (Florida) #1 best place for starting a business (Forbes) #1 city for startups (Bloomberg) 2 nd highest concentration of high-tech employment in U.S. (BLS) 13 th best-performing city in the U.S., 2014 (Milken Institute) Best college town in America (GQ)
19 City of Boulder SWOT Analysis
20 Thank You
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