Denver is growing. Everyone knows that by now. While more people move here, more businesses do too. But, that’s not the only reason why Denver is going to be the next big place of corporations and business.
The Millennial population growth brings new business.
In 2018, MagnifyMoney released a study of Millennial boomtowns. Right behind San Francisco, Denver takes second in Millennial boomtowns. The labor force of Millennials is at 27.9%. Metro Denver has done studies showing the growth of Millennials. They wrote, “The study, by Development Research Partners, shows that 24 percent of the region’s population base—or nearly 891,500 people—now consists of Millennials.”
More Millennials are finishing school; they’re adults now, joining the workface and creating businesses. As large cities, like New York or San Francisco, are far too expensive for the common Millennial with college debt and freelance work, Denver has proven to be a perfect place for relocation. It has everything Millennials need: outdoor activities, downtown area, progressive thinking, and more affordable.
Corporations and companies are recognizing the central location of Denver, Colorado. They also noticed how easily it can attract creative, innovative Millennials ready for work. Metro Denver – the Economic Development Corporation has the latest in Denver corporation growth.
List of Companies:
1. VF Corp, the parent company for outdoor brands including The North Face, JanSport, Smartwool, Altra, and Eagle Creek, will move the headquarters of its sixth outdoor company, Icebreaker, to Denver next summer. VF moved its corporate headquarters to Denver last year, bringing its five brands with it. According to the CEO, 800 workers have already been relocated to Denver as a part of the broader move to Denver. The company expects that over 900 employees in total will fill the central office.
2. Snapdocs, a San Francisco-based real estate tech company, is expanding its workforce in Denver after opening its new office. The company could hire as many as 635 workers over the next eight years as they plan “aggressive” expansion. Snapdocs offers a digital platform for lenders, title companies, and borrowers to streamline the loan process in real estate transactions. The company expects to add jobs in the fields of engineering, customer success, sales, and operations in Denver.
3. Partners Group, a Swiss money management firm, opened its U.S. headquarters in Broomfield Interlocken, building a 129,400-square-foot campus from scratch that will be able to hold up to 500 workers. The company employs 220 people in Colorado and hopes to increase its employment base to 450 workers in five years.
4. Sunrun Inc., a national leader in residential solar and storage services, opened its new larger downtown office space and expects to continue to grow its Denver workforce in the coming years. The company currently employs over 700 workers in Denver, a larger workforce than its California headquarter. The company employed 65 people in Colorado in 2015.
5. Ball Corp. proposed an expansion of its Ball Aerospace & Technologies Corp. operations in Broomfield. The proposal could add nearly 137,000 square feet of office and R&D space to the company’s existing 121,000-square-foot R&D operation at 10 Longs Peak Drive. The company is expecting to add 600 aerospace jobs in the next year, with the new jobs spread across all U.S. aerospace facilities, including those in Boulder, Broomfield, and Westminster.”
This was just a snippet of the corporations coming to Denver. The list is only growing. United Airlines has rumors about making Denver International Airport one of their main hubs. It would make sense since Denver International Airport is working on new high-end technology for safer air travel. With these larger projects, DIA alone is bringing in global corporations that are collaborating with the projects.
It’s not secret. The population is booming. As more Millennials move here, more boomers will retire. More businesses and corporations will continue to grow and develop in Denver, which will make it the Midwest Center of Business. The proof is in the numbers.
Real estate investments are shifting as well. With the recent crackdown on short-term rentals, it looks like the perfect time to invest instead in corporate rentals. After all, with the large volume of business moving to Colorado’s capital city, corporate rentals will surely rise both in necessity and popularity. Denver Development Group strives to stay on the bleeding edge of market innovation. Corporate rentals are a prime way to get involved in our variety of investment projects. Get involved today.