Financial Services

Locate your firm in a thriving financial center

The nine-county region is one of the few areas outside of the Northeast with a significant financial industry in three key market segments:

  • Banking and finance
  • Investments
  • Insurance

With about 101,560 employees in nearly 14,770 companies, financial services is a large part of the employee base in the Metro Denver and Northern Colorado region. Over the past five years, financial services employment grew 10.7 percent, compared with 7.5 percent nationally. Employment rose for the third-consecutive year in 2017, increasing 3 percent and adding over 2,950 employees between 2016 and 2017. Financial services companies employed 4.4 percent of the region’s total employment base compared with a 3.9 percent national employment concentration. About 80 percent of the state’s total employment in financial services was located in the region. 

Metro Denver Financial Services Employment Snapshot U.S. data in ( )
Banking & Financing Investments Insurance
Direct Employment 39,720 29,830 32,010
Companies 3,120 7,900 3,750
Five-Year Employment Growth (2012-2017) 0.4% (2.6%) 27.9% (8.6%) 11% (12.3%)
One-Year Employment Growth (2017) 3.3% (1.7%) 4.9% (0.7%) 0.9% (1.5%)
Direct Employment Concentration (2017) 1.7% (1.5%) 1.2% (0.8%) 1.4% (1.5%)
Average Wage $82,730 $156,770 $76,510
Employment Concentration Ranking (Among 50 largest metros) 16 13 30

The region is a top financial services location, offering:

  1. Access to a large, highly qualified and entrepreneurial workforce
    • About 6.4 percent of Metro Denver‚Äôs labor force was employed in business and financial operations occupations, a higher-than-average concentration compared with the U.S. average of 4.9 percent. (U.S. Census Bureau, 2016 American Community Survey 1-Year Estimate)
    • Nearly 3 percent of U.S. certified financial planner certificates are held in Colorado even though Colorado‚Äôs population represents just 1.7 percent of the national population total. (Certified Financial Planner Board of Standards, Inc., 2017; U.S. Census Bureau, 2017)
    • Metro Denver was named among the top 25 metro areas with the most finance jobs, representing 15 percent of all job openings. (Business Insider, 2017)
    • Denver ranked among the top 15 best affordable cities for finance jobs. (CNBC, 2017)
  2. A pro-business environment and competitive tax structure
    • Colorado ranks as one of the nation‚Äôs most favorable corporate income tax structures. The state‚Äôs corporate income tax rate of 4.63 percent is one of the lowest in the nation and is based on single-factor apportionment, which allows companies to pay taxes based solely on their sales in the state. (State of Colorado; The Tax Foundation)
  3. A central location and easy global access

    The nine-county region‚Äôs central U.S. location allows convenient access as air travelers can easily reach two-thirds of the nation within two hours and is within four hours flying time of every North American city with a population of 1 million or more. Further, the region's position on the 105th meridian‚ÄĒthe exact midpoint between Tokyo and Frankfurt‚ÄĒfavorably serves growing world markets.¬†(Metro Denver Economic Development Corporation)

  4. The banking and finance sub cluster is comprised of transaction-oriented companies including:
    • Commercial banks
    • Credit unions
    • Lenders
    • Credit agencies
    • Mortgage bankers
    The investments sub cluster includes companies involved in:
    • Securities and commodities trade
    • Real estate investment trusts (REITS)
    • Portfolio management
    The insurance sub cluster is comprised of:
    • Insurance carriers
    • Brokerages

Additionally, Denver is home to a branch of the Federal Reserve Bank and is the location of one of only six U.S. Mints. The Denver Mint is the single largest producer of coins in the world and manufactures all denominations of circulating coins, coin dies, the Denver ‚ÄúD‚ÄĚ portion of the annual uncirculated coin sets, and commemorative coins authorized by the U.S. Congress.