Denver’s Business Boom
Denver, Colorado, has long been known for its breathtaking landscapes and vibrant culture. But a sector not often discussed, is it being a thriving hub for businesses, attracting companies from across the nation. This business boom is bringing new opportunities for local residents and job seekers alike. That’s why we’re bringing the conversation to the forefront: Is Denver becoming the go-to destination for businesses? Which industries here to stay? All while highlight some key companies that are making waves in the Mile-High City.
Why Denver?
Strategic Location
Situated in the heart of the United States, Denver offers a strategic advantage for businesses looking to serve both coasts. Its central location makes it an ideal hub for logistics and transportation, which explains why so many companies are setting up shop here. Along with Denver’s location, location, location, there’s also business benefits that far exceed where we land on the map. The state of Colorado offers strategic incentives for businesses, including tax credits, an enterprise zone program, and job training grants. This could allude to why, as a city, Denver has about $17 billion in VC funding in the last 5 years.
Quality of Life
Denver consistently ranks high in quality of life surveys. Ranking number 20 out of 199, Denver is a standout location across the board: considering quality of life, safety index, cost of living, climate, and more. With its combination of urban amenities and access to outdoor activities, it’s no wonder people love living here. Companies recognize that a happy workforce is a productive one, and Denver provides the perfect environment for that balance. Later in this blog, we’ll touch on Plantir Tech, but for now, here’s what they said about the intention behind their relocation to Mile-High:
“There’s a diversity of perspective and viewpoints on issues, and that’s important to us because we work in areas where complexity is the rule. Colorado feels like a place where complex issues can be addressed as such, and not broken down into a simple formula. For Palantir, it checked a lot of boxes.” – Palantir Advisor, Sam Rascoff, for 5280.com.
Talent Pool
Denver’s growing population and its reputation as a tech-savvy city mean that businesses have access to a deep and diverse talent pool. Whether they’re looking for skilled workers in tech, healthcare, or finance, Denver has it all.
Highlighting Key Companies That Have Moved to Denver
1. Big Tech: Palantir Technologies
Palantir Technologies, a data analytics company, chose Denver for its new headquarters in August 2020. The move brought hundreds of high-paying jobs to the area, and the company has already started to integrate into the local community. Palantir’s presence underscores Denver’s appeal to tech giants and signals a bright future for the city’s tech industry.
As of recent, the company has been identified as one of the top must-have AI stock picks for the year ahead, alongside Meta. As well as being picked up as Tampa’s General Hospital’s AI Software; to help with Care Coordination nationwide.
Read more for yourself on how Palantir is getting AI into Operations.
2. Retail: VF Corporation
With more than 1,000 people working for VF Corp., this company stands as one of the world’s largest apparel, footwear, and accessory companies with the intent to connect people to activity-filled lifestyles. Known for iconic brands like The North Face, Timberland, and Vans, VF Corporation relocated its headquarters to Denver. This move not only brings significant job opportunities but also aligns perfectly with Denver’s outdoor lifestyle. VF Corporation’s decision to move here highlights Denver’s attractiveness to lifestyle and retail brands.
It’s not rocket science to figure out why our city was selected for VF’s HQ, from previous location, Greensboro, NC. “Colorado is an area with an unrivaled heritage and culture of outdoor and activity-based lifestyles, as well as a thriving business environment,” said Steve Rendle (Chairman, President, and CEO), for Colorado.gov.
3. Healthcare: DaVita
DaVita, a Fortune 500 Company and the leading provider of kidney care services, also decided to call Denver home. With its focus on healthcare, DaVita’s move brings a wealth of job opportunities in a sector that is both stable and growing. Their commitment to Denver reinforces the city’s reputation as a leader in healthcare innovation. When looking back on their 10 years of making Downtown Denver their home, Senior Vice President, Dave Maughan said “We moved DaVita’s headquarters to Denver because we viewed it as a city of innovators, and that belief hasn’t wavered.”
Everpresent Industries in Denver
Denver’s dynamic business boom wouldn’t be complete without mentioning some of the industries that are deeply ingrained in the city’s culture and economy. These sectors not only drive significant revenue but also contribute to Denver’s unique character and appeal.
Cannabis Sales
Since the legalization of recreational cannabis in Colorado in 2012, Denver has become a leading city in the cannabis industry. Dispensaries are a common sight, and the industry has generated thousands of jobs and substantial tax revenue for the city. Cannabis tourism has also taken off, attracting visitors eager to explore legal markets and infused product innovations, from edibles to topicals. Denver’s role as a pioneering city in cannabis sales highlights its progressive stance and entrepreneurial spirit.
Red Rocks Concerts
No discussion of Denver’s vibrant industry would be complete without mentioning the iconic Red Rocks Amphitheater. This world-renowned venue, nestled in natural rock formations, hosts some of the most memorable live music experiences. The concert season at Red Rocks draws music lovers from around the globe, making it a significant contributor to Denver’s tourism and entertainment sectors. The venue also boosts local businesses, from hotels to restaurants, catering to concertgoers.
Sports Entertainment
Denver is a sports lover’s paradise, home to major league teams across various sports. The Denver Broncos (NFL), Denver Nuggets (NBA), Colorado Rockies (MLB), and Colorado Avalanche (NHL) all call the city home. Sports entertainment is a major economic driver, with packed stadiums and arenas generating revenue through ticket sales, merchandise, and local spending. These teams not only provide entertainment but also foster a strong sense of community and city pride.
Each of these sectors plays a crucial role in making Denver the vibrant and eclectic city it is today, attracting new businesses and residents eager to be part of its thriving ecosystem.
That being said, Denver’s business boom is more than just a tracked trend; it’s a testament to the city’s unique blend of opportunity, lifestyle, and location. For local residents, this influx means new job opportunities and a thriving economy. For job seekers, Denver is the place to be for career growth and an unparalleled quality of life.
Are you considering a move to Denver? Whether you’re looking for the next big career opportunity or simply want to enjoy everything this vibrant city has to offer, there’s never been a better time to make Denver your home.
Ready to make the move? Contact Usaj Realty today and find your perfect home in the Mile-High City.
