Colorado Gives Silicon Valley a Run For Its Tech Company Money!

“Sayonara, Silicon Valley!”  According to USA Today, PCMag.com, and a considerable number of other sources, Denver is growing into one of the largest tech hubs in the United States.  Some of the rankings, like the one determined by CBRE (a commercial real estate firm) use a combination of factors including availability of tech talent, outlook for jobs, and rental costs for employees and companies. While San Francisco and Portland still rank up at the top, Denver slid into the Top 10 in 2019.

Startups and Well-knowns

Not only is it becoming a popular place for start-ups to open up shop – look at the success of Denver-Based companies like Ibotta, Guild Education, Home Advisor, Zillow and more – but also for long-established major companies as well, including Google, Twitter, Oracle, Level3, Liberty, Amazon and IBM.   

Denver Attracting the Home Grown and Migrants

Also making it a hot spot is the number of millennials with high tech IQs and experience who are making Denver their home. This mainstay of “highly-educated home grown millennials” is providing the tech industry with a work force that well-established tech companies and start-ups are looking for.  Amy Zupon, CEO of Vertafore told PCMag.com that she agrees that Denver has a “great startup culture and a young, technology-literate, educated workforce from which to recruit.” Another reason for such quick growth is the “relatively low cost of wages,” CBRE Senior V.P. of Tech and Media Alex Hammerstein told BisNow.com.

According to Kore1 (a recruiting and staffing agency), Denver is highly attractive to many of the young pros looking for IT jobs because of the growing tech community, steady employment levels, and a good market.  Not only are people migrating in droves to the city, but many of the skilled professionals the IT companies are looking for are graduating from local colleges like the University of Colorado Boulder and Colorado State University.

Incubator Heaven

Another reason for Denver’s tech growth is the presence of incubators and accelerators that are helping startups to grow.  The state is in the top 10 in receiving investor capital from not only private investors, but the city of Denver and its government are working hard to contribute to the tech industry’s growth throughout the city.

STEM Education a Contributor

Kore1 also mentions the inclusion of STEM education throughout the state as well as a culture where innovation is valued and promoted. Organizations where young people are encouraged to explore their interests in science, technology, engineering, and mathematics are big contributors to the Gen Z talent pool.  In order for Denver to continue to build on its momentum, it’s important that the city and surrounding communities like Boulder, Fort Collins, and Colorado Springs continue to foster programs that are contributing to future job pools; well-established large tech companies and those startups just coming out of the gates will need young, innovative minds to fuel their growth and progress.

Resources to learn more

Want to learn more about the Colorado Tech culture and growth?  

BuiltinColorado.com

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