The Workforce
A Workforce to be Reckoned With
Across America, metropolitan areas are the economic engines driving prosperity, and Denver South is exemplary. With available and affordable mixed-density housing, abundant yearlong recreation, exceptional weather, majestic mountains, and a healthy family-friendly lifestyle; it’s no surprise that Denver South is one of the most desirable and livable places in the country.
Industry Clusters
The Denver Metro Area workforce is as robust as it is desirable, leading to a national reputation as one of the best places to attract and retain an educated and productive workforce. This competitive advantage is powering some of the world’s leading companies from right here in Denver South. More than 250,000 people are building their careers here, with the highest concentration of high tech and corporate workers in the region. Seventy-two percent of Denver South residents over the age of 25 have an associate degree or higher and 24 percent hold graduate degrees, providing ample workforce for our dominant industry clusters.
Six key industry clusters drive the Denver South economy, representing a diverse combination of businesses, occupations, and opportunities.
Aerospace
The Aviation & Aerospace cluster was the fastest growing cluster in the Denver South region in 2023 and was the fastest growing cluster between 2016 and 2021. With over 9,500 employees in over 130 companies in Denver South, employment in the Aviation & Aerospace cluster has grown every year for the last five years. Since 2000, the number of employees in the region’s cluster has more than quintupled and the number of companies has almost quadrupled. United Launch Alliance (ULA), Sierra Nevada Corporation, Lockheed Martin, Boom Supersonic, and BYE Aerospace are just a few of the companies with a significant presence in the region. Employment growth in Denver South’s Aviation & Aerospace cluster rose 5.3 percent in 2021 and increased 27.7 percent over the past five years. The cluster also earned a high average wage of $129,190, approximately double the average private-sector worker in the state.
IT-Software and Electronics
The IT-Software & Electronics cluster expanded for 11-consecutive years in 2023, rising 3.9 percent over-the-year. IT-Software & Electronics rose 19 percent between 2017 and 2022, compared with 15.9 percent nationally. IT-Software & Electronics employment in Denver South is nearly two-times more concentrated than the U.S., with over 27,000 workers in nearly 650 companies. Workers in the cluster earned an average of $126,860, more than 1.5 times higher than the average private-sector worker in the region.
Broadband and Digital Communications (BDC)
The Denver South region has evolved as a major Broadband & Digital Communications hub. The region is nearly 10 times more concentrated than the U.S. and three times more concentrated than the nine-county Metro Denver and Northern Colorado region. Employment in the Broadband & Digital Communications cluster rose 1.4 percent in 2021, after falling 0.2 percent in 2020. Between 2018 and 2023, employment increased 15.6 percent, or 30 percentage points higher than the U.S. growth rate. More than 47 percent of Metro Denver’s Broadband & Digital Communications employment is concentrated in Denver South.
Engineering Services
Denver South has the highest concentration of Engineering Services employment and companies among the 50 largest metropolitan areas in the nation in 2023. Over the past year, employment in the region’s Engineering Services cluster grew 1.5 percent and rose 5.3 percent between 2018 and 2023. Since 2000, the number of engineering services companies has more than tripled, adding more than 320 companies during this period. Denver South and the greater nine-county Metro Denver and Northern Colorado region is home to one of the top 10 metro areas where engineering talent grew the fastest between 2019 and 2021, according to LinkedIn.
Financial Services
Financial Services consists of three subclusters: banking and finance, insurance, and investments. The financial services cluster in the Denver South region is the largest cluster in terms of employment, with nearly 42,000 employees in nearly 2,000 companies. The Financial Services cluster overall performed relatively well during the pandemic, posting employment gains between 2020 and 2023. Employment in the cluster grew for the ninth-consecutive year in 2023, increasing 2.4 percent. Employment in the Financial Services cluster in the Denver South region is two times more concentrated than the U.S.
Healthcare and Life Sciences
Denver South is a global healthcare and life sciences leader. The Healthcare & Life Sciences cluster represents 7.7 percent of the region’s total jobs. The cluster was impacted early in the pandemic and continues to face new challenges. After falling 1.4 percent in 2020, employment in the cluster rebounded 3.4 percent in 2021. Over the past five years, employment in the region grew 17.2 percent, more than three-times the growth rate posted nationally. During this period, 4,050 workers were added in 1,100 companies. Prior to the pandemic, employment in the cluster posted 16 years of consecutive employment growth in Denver South.
