Metro Denver is an IT recruiter's dream
Colorado has the third-highest concentration of tech workers, with 9 percent of the state’s private sector workforce employed in technology firms, according to the CompTIA’s Cyberstates 2016 report.
IT-software was the region’s fastest growing cluster in 2016 (+9.4 percent) as a result of landmark company expansion and venture capital activity. A strong entrepreneurial spirit fuels this industry, employing 54,580 workers at 5,180 companies throughout the nine-county region.
Metro Denver IT - Software Employment Snapshot
|Five-Year Employment Growth (2011-2016)||27.5% (27.8%)|
|One-Year Employment Growth (2016)||9.4% (4%)|
|Direct Employment Concentration (2016)||2.4% (1.9%)|
|Employment Concentration Ranking (Among 50 largest metros)||8|
The region is a top information technology location, offering:
- The ability to attract and retain high-quality IT professionals and technical talent
Of Colorado’s adult population, more than 39 percent has completed a bachelor’s or higher-level degree, making Colorado the second-most highly educated state in the nation behind Massachusetts. IT services and software publishing were among Colorado’s top-five leading tech industry sectors by employment in 2015. The state’s average high-tech wage ($106,350) was double that of the average private-sector worker. (U.S. Census Bureau, 2015 American Community Survey; CompTIA, Cyberstates 2016: The Definitive State-by-State Analysis of the U.S. High-Tech Industry, 2016)
- Direct access to a large and growing customer base
Colorado ranked third in the nation for Small Business Innovation Research (SBIR) grants per worker. The state received more than 200 grants totaling nearly $82.1 million, or $32.90 in grants per worker compared with the U.S. average of $11.80. (U.S. Small Business Administration, 2016; U.S. Bureau of Labor Statistics, 2016)
- Low to moderate costs of doing business and a competitive tax structure
Colorado's simplified corporate income tax structure based on single-factor apportionment allows companies to pay taxes based solely on their sales in the state. Along with few regulatory burdens, Colorado's corporate income tax rate of 4.63 percent is one of the lowest and most competitive tax structures in the nation. (State of Colorado; The Tax Foundation)
IT companies have a voice and support network through the Colorado Technology Association, which works to foster innovation and a positive growth environment in the technology industry.