Boulder: Economy

Major Industries and Commercial Activity

The predominant industries in the Boulder are science and technology related. Helped out by the research activity at the University of Colorado at Boulder, a large high-technology, electronic, and aerospace industry has developed in and around the city. The phenomenal growth of these industries attracted the establishment of defense contractors, applied and pure research centers, and satellite and communications companies, which bring millions of dollars into the local economy each year.

The technology boom has filtered down into other Boulder industries, increasing the city's manufacturing and retail base. Education, health care, and government are also important sectors of the Boulder economy.

Items and goods produced: electronic devices, space hardware, recreational equipment, natural and organic food products

Incentive Programs—New and Existing Companies

Local programs

In an effort to reverse a downward economic trend early in the twenty-first century, the City of Boulder established an Economic Vitality Program in 2003. Guided by the Economic Vitality Advisory Board, the program's primary purpose is to attract new businesses and retain and expand existing businesses. Among the challenges it faces are Boulder's high facility costs, limited space for expansion, and poor condition of many older buildings. As a remedy, the program will apply industry-cluster initiatives—partnerships between businesses, government agencies, and research institutions involved in similar industries—to foster innovation and efficiency. The city's current clusters include software, bioscience, creative services, natural and organic food, and sustainable technologies.

The Economic Vitality Program also strives to make the local retail environment more attractive to Boulder's residents. The early 2000s brought the demise of the city's Crossroad Mall, due in large part to the opening of other shopping establishments in nearby communities. While retail sales for the larger region steadily increased, Boulder was losing $54 million each year in general merchandise sales from its residents, not to mention sales from shoppers visiting from other communities. To staunch the flow, the program intends to import the stores that are attracting Boulder's shoppers and to increase the number of unique shops that define the Boulder experience.

The program will also address other issues that hinder development in Boulder, including inconsistent, overly restrictive, and overly lengthy zoning and planning policies and procedures. A lack of available space is a barrier both for companies interested in establishing large complexes in the city as well as those seeking to expand their existing facilities, and may be remedied by a loosening of the city's restriction on building height. Transportation difficulties, particularly the limited parking availability, will also be considered.

Additionally, Boulder's Small Business Development Center provides valuable assistance to new and established small businesses. It offers three types of support: counseling, short- and long-term training, and access to such resources as market data, financing, and competitive information.

State programs

The Colorado Office of Economic Development & International Trade offers several types of incentives to attract and retain businesses. Its Infrastructure Assistance Program is designed to create new jobs, mainly in the low- and moderate-income ranges, in certain cities and counties within the state. Other business incentives include enterprise zone tax credits, local property tax incentives, and manufacturing revenue bonds.

Job training programs

The Small Business Development Center of Boulder provides both short- and long-term employee training to businesses seeking to expand or relocate to the area. Front Range Community College, through its Center for Workforce Development, offers a variety of training programs for both employer and employee. The Colorado Community College System has joined with the Colorado Office of Economic Development & International Trade to administer Colorado FIRST/Existing Industry Customized Training Programs. These programs, which received $2.7 million in funding in 2004, are designed to fund employee training for transferable job skills to benefit the company's competitive strength as well as the employee's long-term employment opportunities.

Development Projects

The Economic Vitality Program that was established in 2003 has several specific development initiatives. Among them is the development of the Boulder Transit Village, an 11.2-acre site that will combine transit service, including commuter rail, with residential and commercial space. The first phase of the project is scheduled to begin in 2006, and rail service is expected within 10 years. A second project is Twenty Ninth Street, an 850,000-square-foot shopping complex built on the site of the former Crossroads Mall. This mall, expected to open in 2006, will be an open-air shopping and entertainment venue anchored by Foley's, a 16-screen cinema, and The Home Depot.

Boulder has a number of other development projects in progress or recently completed. The first phase of the One Boulder Plaza project, a combination of residential, office, and retail space, began in 2001, and the final phase began in the summer of 2004. The Northwest Parkway, a toll road linking Boulder to the Denver International Airport, opened in November 2003 after a decade of planning and a total investment of $190 million. The St. Julien Hotel & Spa, featuring 200 guest rooms and a 10,000-square-foot spa and fitness center, opened its doors in February 2005. Restoration of the Sunrise Circle Amphitheater on Flagstaff Mountain, originally built in 1933, will be completed in the spring of 2005. A $2.1 million expansion to the Boulder County Jail is expected to be completed in April 2005, while the construction of a $1.9 million detoxification center is expected to break ground later that year.

Economic Development Information: Boulder Chamber of Commerce, 2440 Pearl St., Boulder, CO 80302; telephone (303)442-1044; fax (303)938-8837; email info@boulder chamber.com. Economic Vitality Program, City of Boulder, PO Box 79, Boulder, CO 80306; telephone (303)441-3090

Commercial Shipping

Commercial air shipping is available from a number of carriers at Denver International Airport (DIA). Approximately 400,000 tons of U.S. cargo pass through the airport each year. DIA is a hub for United Airlines, which handles 500,000 pounds of freight and mail each day. Commercial cargo carriers include FedEx, UPS, DHL, and Airborne, though nearly half of DIA's air cargo is handled by passenger carriers. In 2004 the airport's cargo facilities completed an expansion, adding 288,000 square feet of space. The airport is the site of Foreign Trade Zone #123, as well as areas for U.S. Customs and Department of Agriculture clearance. Approximately 50 freight forwarders and customs brokers also serve in the area. Freight rail service from two major transcontinental railways is also available; more than one dozen motor freight carriers maintain facilities in Boulder.

Labor Force and Employment Outlook

Boulder business managers and owners cite a high quality of life and a talented work base among the advantages of doing business in Boulder. The workforce is educated well above the national average, as 66.9 percent of Boulder residents had received a bachelor's degree or higher degree in 2000, compared with 24.4 percent in the U.S. as a whole. The university and the many technology- and research-oriented companies draw a large number of college graduates and professionals into the labor market.

The following is a summary of data regarding the Boulder metropolitan area labor force, 2004 annual averages.

Size of non-agricultural labor force: 157,600

Number of workers employed in . . .

construction and mining: 6,500

manufacturing: 18,900

trade, transportation and utilities: 22,400

information: 9,300

financial activities: 7,600

professional and business services: 27,000

educational and health services: 16,400

leisure and hospitality: 15,800

other services: 4,900

government: 28,700

Average hourly earnings of production workers employed in manufacturing: $16.46 (annual statewide average)

Unemployment rate: 4.8% (January 2005)

Cost of Living

Boulder's cost of living is higher than in neighboring communities. According to the Boulder Chamber of Commerce, in 2001 the average price for a single family home in the city of Boulder was $472,169, compared with $343,000 in Boulder County overall. That same year, the average cost for a condo or townhome was $214,148 in the city and $183,722 in the county.

The following is a summary of data regarding key cost of living factors for the Boulder area.

2004 (3rd Quarter) ACCRA Average House Price: $311,194 (Denver metro)

2004 (3rd Quarter) ACCRA Cost of Living Index: 104.8 (Denver metro) (U.S. average = 100.0)

State income tax rate: 4.75%

State sales tax rate: 2.9%

Local income tax rate: None

Local sales tax rate: 4.61%

Property tax rate: $10.005 per $1,000 of assessed value (2004)

Economic Information: Boulder Chamber of Commerce, 2440 Pearl St., Boulder, CO 80302; telephone (303)442-1044; fax (303)938-8837; email info@boulderchamber.com

Boulder: History

A City Born of a Newspaper

For centuries before the coming of European explorers, the area surrounding what is now Boulder was a favorite winter campsite for a number of Native American groups, including the Arapaho, Ute, Kiowa, Comanche, Cheyenne, and Sioux. The area was rich in buffalo, elk, and antelope.

Economic depression in the East brought many pioneers and gold seekers to Colorado in the 1850s, and the first settlement in Boulder County was established at Red Rocks in 1858. An early settler, A. A. Brookfield, organized the Boulder City Town Company in 1859. The company laid out more than 4,000 lots, each with a price of $1,000. Few people could afford such a price, and by 1860 the population numbered only 364 residents.

Boulder City grew slowly through the 1860s, competing for prominence in the county with nearby Valmont, where the only newspaper in the area was printed. A group of Boulder citizens stole the printing press, and soon Boulder City was named the county seat, selected because it published the only newspaper in the area. In November 1871, Boulder was incorporated as a Colorado town, and "City" was dropped from the name.

A site for the University of Colorado was chosen in Boulder in 1872, and the Colorado state legislature appropriated funds for the institution in 1874, the same year that Boulder's first bank opened its doors. The city grew steadily through the turn of the century. In 1880 the population totaled 3,000 people, but modern conveniences like the installation of electricity in 1887 and a new railway depot in 1890 boosted the population to more than 6,000 people by 1900.

The twentieth century brought moderate growth for Boulder. In the late 1950s and early 1960s the development of high-technology industries had a great impact in the area. Companies like IBM and Rockwell and governmental agencies like the National Oceanic and Atmospheric Administration and the National Bureau of Standards moved into the area, resulting in an economic surge due to the creation of many new jobs. The development of the Boulder-Denver Turnpike further bolstered the area, driving Boulder's population from 20,000 in 1950 to 72,000 in 1972.

A Rocky Period for a Rocky Mountain Town

The convergence of the university environment with research centers and science and technology companies fueled continued growth in the 1990s. By the turn of the century, however, the economic scene had begun to change. A national and international recession contributed to a migration of residences and businesses from Boulder to neighboring communities, where real estate was often cheaper. Lower facility costs fostered a wide variety of businesses, and stores located outside the city began winning in competition for the retail spending of Boulder residents. Sales tax revenue in Boulder dropped by 20 percent between 2000 and 2003. Local businesses began to struggle, as did their employees, many of whom were forced to move from the city to less expensive locales.

Despite media attention in the 1990s and a rocky economical start to the new century, Boulder is an evolving and forward-looking city. Today, Boulder consistently ranks high in polls by magazines and organizations that rate cities based on livability.

Historical Information: Boulder Public Library, Carnegie Branch Library for Local History, 1125 Pine St., Boulder, CO 80302; telephone (303)441-3110

Boulder: Communications

Newspapers and Magazines

Boulder is served by two daily newspapers, the morning Daily Camera and the morning Colorado Daily. Boulder Weekly is a free, alternative newspaper, and the Boulder County Business Report focuses on economic, industrial, and business news every other week. The Campus Press, written by and for students of the University of Colorado at Boulder, is distributed each Thursday. Boulder's love of outdoor sports is reflected in some of the nationally distributed magazines published in the city, including Inside Triathlon, Ski, Skiing, and the competitive bicycling magazine VeloNews. Other publications include Delicious Living! and Soldier of Fortune, as well as a number of several scholarly journals and trade publications.

Television and Radio

Five television stations broadcast to Boulder audiences, three representing the major commercial networks and two independent stations; cable service is available. Two AM and two FM radio stations broadcast alternative/new music, public radio, and University of Colorado programming.

Media Information: Daily Camera, 1048 Pearl St., Boulder, CO 80302; telephone (303)442-1202

Boulder Online

Boulder Chamber of Commerce. Available www.boulder chamber.com

Boulder Community Hospital. Available www.bch.org

Boulder Convention & Visitors Bureau. Available www.bouldercoloradousa.com

Boulder Public Library System. Available www.boulder.lib.co.us Boulder Valley School District. Available www.bvsd.k12.co.us

City of Boulder Home Page. Available www.ci.boulder.co.us

Daily Camera. Available www.thedailycamera.com

Economic Vitality Program. Available www.ci.boulder.co.us/economic–vitality

University of Colorado at Boulder. Available www.colorado.edu

Selected Bibliography

Pettem, Silvia, Behind the Badge: 125 Years of the Boulder, Colorado, Police Department (Boulder, CO: The Book Lode LLC, 2003)

Pettem, Silvia, and Liston Leyendecker, Boulder: Evolution of a City (Niwot, CO: University Press of Colorado, 1994)

Whitney, Gleaves, Colorado Front Range: A Landscape Divided (Boulder, CO: Johnson Books, 1983)

Boulder: Population Profile

Metropolitan Area Residents (PMSA)

1980: 189,625

1990: 225,339

2000: 291,288

Percent change, 1990–2000: 29.3%

U.S. rank in 1980: 21st (CMSA)

U.S. rank in 1990: 22nd (CMSA)

U.S. rank in 2000: 19th (CMSA)

City Residents

1980: 76,685

1990: 85,127

2000: 94,673

2003 estimate: 93,051

Percent change, 1990–2000: 11.2%

U.S. rank in 1980: 250th

U.S. rank in 1990: 257th (State rank: 8th)

U.S. rank in 2000: 283th (State rank: 9th)

Density: 3,884.1 people per square mile (2000)

Racial and ethnic characteristics (2000)

White: 83,627

Black or African American: 1,154

American Indian and Alaska Native: 450

Asian: 3,806

Native Hawaiian and Pacific Islander: 48

Hispanic or Latino (may be of any race): 7,801

Other: 3,318

Percent of residents born in state: 24.2% (2000)

Age characteristics (2000)

Population under 5 years old: 3,888

Population 5 to 9 years old: 3,831

Population 10 to 14 years old: 3,947

Population 15 to 19 years old: 9,487

Population 20 to 24 years old: 17,413

Population 25 to 34 years old: 18,437

Population 35 to 44 years old: 12,840

Population 45 to 54 years old: 11,774

Population 55 to 59 years old: 3,331

Population 60 to 64 years old: 2,334

Population 65 to 74 years old: 3,474

Population 75 to 84 years old: 2,641

Population 85 years and older: 1,276 Median age: 29 years

Births (Boulder County, 2003)

Total number: 3,620

Deaths (Boulder County, 2003)

Total number: 1,472 (of which, 17 were infants under the age of 1 year)

Money income (1999)

Per capita income: $27,262

Median household income: $44,748

Total households: 39,610

Number of households with income of . . .

less than $10,000: 4,052

$10,000 to $14,999: 2,565

$15,000 to $24,999: 4,462

$25,000 to $34,999: 4,779

$35,000 to $49,999: 5,594

$50,000 to $74,999: 6,754

$75,000 to $99,999: 4,314

$100,000 to $149,999: 4,269

$150,000 to $199,999: 1,489

$200,000 or more: 1,332

Percent of families below poverty level: 6.4% (of which, 51.9% were female householder families with related children under 5 years)

2002 FBI Crime Index Total: 3,743

Boulder: Transportation

Approaching the City

The majority of air traffic comes through Denver International Airport, located 42 miles from Boulder and served by 23 passenger airlines. The new Northwest Parkway toll road connects the airport with Boulder, and costs $5.25 each way.

Hourly shuttle service and limousine service from the airport to Boulder is also available. Jefferson County Airport is located 11 miles from Boulder, and provides commuter air service, as does the Boulder Municipal Airport, located three miles northeast of the central business district.

Interstate 25, Colorado's major north-south highway, runs just to the east of Boulder. The Boulder-Denver Turnpike connects the two cities, and I-70 at Denver provides links east and west. Other major highways include U.S. Highways 36, 52, 93, and 287.

Traveling in the City

Major thoroughfares in the city include Broadway and Twenty-Eighth Street, running north and south, and Iris Avenue, Canyon Boulevard, Arapahoe Road, and Baseline Road, all running east and west. The Regional Transportation District (RTD) operates a fleet of buses serving the metropolitan area. The HOP line makes 40 stops in a loop throughout central Boulder, while the SKIP lines runs north and south along Broadway; other RTD bus lines in Boulder are the JUMP, DASH, BOUND, and STAMPEDE.

Bicycling is extremely important to travel in Boulder, as 10 percent of its resident ride bikes on a regular basis. Bicycle paths parallel all major traffic arteries, and total more than 200 miles. A fleet of 150 bright green bicycles, part of the Spokes for Folks "Green Bikes Program," are provided free to residents as loaner vehicles to be shared by all residents of the city. The Annual Walk and Bike Week encourages commuters to get out of their cars and either pedal or walk to and from work. Local businesses, such as restaurants and bicycle mechanics, offer free incentives to participants.

Boulder

The City in Brief

Founded: 1859 (incorporated 1871)

Head Officials: Mayor Mark Ruzzin (since 2001); City Manager Frank Bruno (since 2003)

City Population

1980: 76,685

1990: 85,127

2000: 94,673

2003 estimate: 93,051

Percent change, 1990–2000: 11.2%

U.S. rank in 1980: 250th

U.S. rank in 1990: 257th

U.S. rank in 2000: 283th (State rank: 9th)

Metropolitan Area Population (PMSA)

1980: 189,625

1990: 225,339

2000: 291,288

Percent change, 1990–2000: 29.3%

U.S. rank in 1980: 21st (CMSA)

U.S. rank in 1990: 22nd (CMSA)

U.S. rank in 2000: 19th (CMSA)

Area: 25.37 square miles (2002)

Elevation: 5,340 feet above sea level

Average Annual Temperature: 51.8° F

Average Annual Precipitation: 102.13 inches total (83.1 inches of snow)

Major Economic Sectors: Services, trade, manufacturing, government

Unemployment Rate: 4.8% (January 2005)

Per Capita Income: $27,262 (1999)

2002 FBI Crime Index Total: 3,743

Major Colleges and Universities: University of Colorado at Boulder, Naropa University, Front Range Community College

Daily Newspaper: Daily Camera

Boulder: Convention Facilities

Although lacking a full-fledged convention center, Boulder has a number of facilities offering meeting space. The Millennium Harvest House Boulder can accommodate small functions as well as up to 500 people on its outdoor pavilion and up to 600 in its Grand Ballroom. The historic Hotel Boulderado, a national registered landmark, offers 8,000 square feet of space and accommodates meetings for up to 200 people and receptions up to 300. Several other hotels provide meeting space, as do facilities at the University of Colorado at Boulder, namely the 2,047-seat Macky Auditorium Concert Hall and the University Memorial Center, whose 9,418-square-foot Glenn Miller Ballroom can accommodate 700 attendants. The Boulder Theater can seat up to 860 conference delegates.

Convention Information: Boulder Convention & Visitors Bureau, 2440 Pearl St., Boulder, CO 80302; telephone (303)442-2911; toll-free (800)444-0447; fax (303)938-2098; email visitor@bouldercvb.com

Boulder: Geography and Climate

Boulder lies in a wide basin beneath Flagstaff Mountain just a few miles east of the continental divide and about 30 miles west of Denver. The large Arapahoe glacier provides water for a number of mountain streams that pass through Boulder, including Boulder Creek, which flows through the center of the city. The climate in Boulder is typically mild with dry, moderate summers and relatively comfortable winters. The city boasts more than 300 sunny days each year. Nearby mountains shield Boulder from the most severe winter storms. Most precipitation occurs during the winter and spring months, with snowfall averaging 83.1 inches.

Area: 25.37 square miles (2002)

Elevation: 5,340 feet above seal level

Average Temperatures: January, 32.8° F; July, 73.2° F; annual average, 51.8° F

Average Annual Precipitation: 102.13 inches (83.1 inches of snow)

Boulder: Health Care

Boulder Community Hospital is the largest health-care institution in the Boulder area. It is a full-service hospital with a 24-four-hour emergency room, an intensive care unit, a cardiac care unit, and a network of facilities that includes the Boulder Center for Sports Medicine, Boulder Community Foothills Hospital, Community Medical Center (an urgent care facility), and the Miriam R. Hart Regional Radiation Therapy Center. Boulder Community Hospital offered 265 beds in 2004, and 547 physicians in 48 medical specialties had privileges at the hospital.

Boulder: Introduction

Boulder is sometimes called the "Athens of the West" in tribute to its dedication to education and the arts. The University of Colorado at Boulder and a host of private industries make the city one of America's leading science and research towns. Boulder also maintains a commitment to the arts, presenting a number of renowned music, theater, and arts festivals each year. The city's attractive setting near the Rocky Mountains and its abundant cultural and entertainment offerings make it a popular stop for business or recreation.

Boulder: Municipal Government

Boulder has a council-manager form of government with a nine-member council elected to two- or four-year terms. The council elects the mayor from among its number for a two-year term and appoints a city manager.

Head Official: Mayor Mark Ruzzin (since 2001; current term expires November 2007); City Manager Frank Bruno (since 2003)

Total Number of City Employees: 1,212 (2005)

City Information: City of Boulder, 1777 Broadway, Boulder, CO 80302; telephone (303)441-3090; email ruzzinm@ci.boulder.co.us

Boulder city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). Industries include aerospace and biological research; the manufacture of machinery, electric, electronic, and computer equipment, and medical supplies; and software development. Boulder is home to the National Center for Atmospheric Research and other government and private research operations and is known as a mountain sports and "New Age" mecca.

Boulder, Colorado/USA Founded in 1858 and named after the huge boulders in the area.

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