Overview
Serving Colorado since 1915, the Business Research Division (BRD) conducts economic and fiscal analysis, market research, and customized research projects. The division also annually produces a sector by sector economic forecast of the state’s economy. This work helps companies, associations, nonprofits, and governmental agencies make sound business and policy decisions.
Business leaders and policy makers rely on research conducted by the division for relevant information and data. The annual Colorado Business Economic Outlook provides a sector-by-sector forecast for the state’s economy, while the quarterly Leeds Business Confidence Index gauges Colorado’s business Leaders’ opinions about the national and state economies and how their industry will perform in the coming quarter. A quarterly electronic newsletter, the Colorado Business Review, also provides decision makers with in-depth analysis and information about Colorado’s economy.
Over the 2010-11 academic year the BRD conducted economic impact, revenue forecasting, and fiscal studies for private-sector companies and nonprofit organizations related to proposed materials recovery facilities, the implementation of Colorado’s Clean Air-Clean Jobs Act, community events, and transportation. It also completed studies for the public sector related to Colorado’s economy, community industry assessment, and international trade. The BRD continues to perform outreach to Colorado businesses, governments, and nonprofits through customized research projects and presentations, Colorado Business Review issues, the Leeds Business Confidence Index, and the annual Colorado Business Economic Outlook.
In the next year, the BRD will once again be in the forefront of Colorado’s economic forecasting as it compiles and presents the 47th annual Colorado Business Economic Outlook on December 5, 2011, at the Grand Hyatt in Denver. The BRD is committed to providing the business and economic information that Colorado businesses and governments need and informing the public on important economic conditions and policy impacts.
New Publication: May 2012
Quarterly Business & Economic Indicators
Colorado Secretary of State’s Office
The Business Research Division worked with the Colorado Secretary of State’s Office to produce the first Quarterly Business & Economic Indicators newsletter. Based on correlations between various business filing data from the Secretary of State’s Office and economic metrics, the report gives public policy and business leaders another tool for making sound decisions. Learn more at the Colorado Secretary of State.
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University of Colorado Economic Impact Study
Date: May 15, 2012
Authors:
- Richard Wobbekind
- Brian Lewandowski
- Cindy DiPersio
- Rachel Ford
- Ryan Streit
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The University of Colorado is the nexus of research and teaching that reaches far beyond economic statistics that quantify purchases and payroll in the state of Colorado. That said, the university’s economic impacts still resonate as an economic engine driven by education and research expenditures. This enterprise, which directly employs 27,500 faculty, staff, and student workers, shares the complexity of any large corporation. Funding from tuition, grants, contracts, gifts, and appropriations is turned around and spent in private industry. These purchases, which range from food services to energy to equipment, leave an economic imprint of $5.3 billion on the state of Colorado and directly and indirectly employ 43,500 in the state. The $246 million in construction in fiscal year (FY) 2011 alone had economic benefits of $478 million, concentrated in an industry disproportionately affected by the recession.
This public university serves “Colorado, the nation and the world through leadership in high-quality education and professional training, public service, advancing research and knowledge, and state-of-the- art health care.” With education as a core element of this mission, the University of Colorado enrolled 57,400 students in the fall of 2010 and awarded 14,525 degrees for the year. An estimated 192,000 alumni reside in the state, contributing to Colorado’s economic and social fabric. Evidence of the university’s educational impact can be found in the leadership of private businesses, teachers in classrooms, health-care professionals, and policy makers. These alumni are an integral part of the Colorado labor force, particularly in the high-tech workforce, and contribute to the state’s rank as second in the nation for educational attainment.
Leveraging the $181.6 million in state funding FY2011, the university operated on $2.7 billion in noncapital revenues. A significant portion of this leveraged funding was related to sponsored program and other restricted fund activity, primarily associated with research activity. Sponsored program awards in FY2011 exceeded $793 million, were concentrated on the Anschutz Medical Campus and the Boulder campus, and were predominately comprised of funding from the National Institutes of Health, the National Science Foundation, NASA, the Department of Defense, and the Department of Commerce. In fact, 68% of FY2011 awards and 78% of research expenditures were federal in nature. This funding flows to departments and researchers with unique expertise, concentrated in fields such as biotechnology and aerospace, which lends to activity in specific industries and clusters in the state. This activity supports the concentration of companies, where Metro Denver alone touts cluster employment concentrations that far exceed the nation, including aerospace (5.1 times the national average), telecommunications (2.9 times), cleantech (2 times), medical devices and diagnostics (1.7 times), and financial investments (1.6 times). Some federal research laboratories (e.g., joint institutes) are located in Colorado because of the university. They are often on university grounds and partially staffed by university employees, leading to a high relative concentration of federal research laboratories in the state.
The University of Colorado’s Technology Transfer Office is the conduit for technology commercialization. From CU intellectual property, 114 companies have been formed, 85 of which continue to operate in Colorado, and 11 of which were formed in FY2011 alone. These companies are taking risks to create innovative technological impacts, such as OPX Biotechnologies, a cleantech company creating proven alternatives to petroleum products, and Arca biopharma, a firm customizing treatment to improve cardiovascular health.
The University of Colorado collaborates in a research triangle that includes universities, businesses, and federal laboratories. These concerted efforts, with support from state and federal funds, help ensure Colorado’s economic vitality. From direct expenditures and spinoff technologies to collaborative research and an educated workforce, the University of Colorado strengthens Colorado’s economy.
Colorado Business Economic Outlook
This forecast analyzes changes that have taken place in all economic sectors during the past year, and looks at the events and activities that will shape the changes in our population, employment, and overall economy for the coming year.
Current Forecast
- 2012 Colorado Business Economic Outlook Forum
Monday, December 5, 2011
1:00pm-6:00pm
- Grand Hyatt Hotel
1750 Welton Street
Denver
Latest Report (2012)
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Two-and-a-half years have passed since the National Bureau of Economic Research officially declared the end of the recession, and the nation is still experiencing slow economic growth. Employment is showing gains, jobless claims are generally declining, incomes are rising modestly, and GDP numbers point to sustained economic growth.
For many in the United States, however, it still feels like the country is rooted in recession, and the economic conditions that lead us into 2012 are anything but certain. The eurozone crisis, if left unabated, will undoubtedly wreak havoc in U.S. markets. The nation continues to add jobs month-over-month, but the pace of job growth is falling far short of a V-shaped recovery. Measures of wealth, including home values and investments, have yet to provide stable footing. Of looming concern is the lack of consensus of the 12-member Joint Select Committee on Deficit Reduction (the “super committee”), which was charged with finding $1.5 trillion in debt savings over 10 years. Hiring has been slow, with employers investing in capital before reinvesting in labor.
However, efforts are being made by the private and public sectors to sustain the recovery. Companies are doing what they know best—finding ways to market goods and services even during the most uncertain of times. Consumer-driven firms are suc- cessfully taking measures to lure customers back to the market through attractive pricing and payment programs, including the return of layaway. Despite the current debt debate in Washington, lawmakers continue to devise plans to spur growth with ideas ranging from incentives to tax cuts. The Fed also continues to reinvent—following two quantitative measures to lower long-term interest rates through an exercise dubbed “Operation Twist.”
Looking to 2012, the rate of expansion will be most influenced by employment growth, the European sovereign debt crisis, and federal spending cuts.
Leeds Business Confidence Index
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Each quarter, Colorado business leaders are invited to complete a brief online survey about next-quarter expectations. The survey results are then compiled into the LBCI.
Register to become a panelist.
Latest Report
Quarter 2, 2012
Looking ahead to Q2 2012, Colorado business leaders’ optimism continues to improve. The Leeds Business Confidence Index (LBCI) measures the confidence of Colorado business leaders in six categories: national economy, state economy, industry sales, industry profits, hiring plans, and capital expenditures. The LBCI’s reading improved from 54.5 in Q1 to 62.2 in Q2.
Confidence improved for all metrics, rising farther above the neutral mark (50). Expectations for the state and national economies both moved higher, with state expectations rocketing from 58.4 to 67.1. The expectations differential between the state and the nation continued in Q2 at 4.9, indicating greater confidence in the local economy than the national. The vast majority of survey respondents expect that Colorado wage increases will be in the 0 to 4% range in 2012. This is consistent with national estimates of 2% wage gains. Modest year-end bonuses are anticipated to augment households’ income as well, although benefits will likely remain unchanged.
The Q2 outlook builds on optimism present in the Q1 survey. While uneasiness concerning the European debt crisis may have led to cautious optimism last quarter, greater stability in Europe and encouraging reports on consumption and job growth seem to have boosted confidence for Q2 2012. In the past three months the fear of a second recession has abated significantly and the prospect of the U.S. economic recovery gaining real traction has increased.
Looking ahead to Q2 2012, month-over-month employment figures and jobless claims are pointing to an improving labor market. However some drags on the recovery still persist—the European debt crisis, weak housing prices and relatively low levels of construction activity.
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Colorado Business Review
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Sign up to add your name to the CBR mailing list.
Editorial Staff
- Executive Director and Editor: Dr. Richard Wobbekind
- Assistant Editor: Cindy DiPersio
- Technical Advisor: Brian Lewandowski
- Graphic Design: Lynn Reed
We welcome your comments and suggestions for topics of future issues.
April 2012 Issue: Water Issues
Water is a critically important resource that not only affects the economy of the West but also the region’s quality of life. Citizens of
the West are keenly aware of the importance of water to households, industries, agriculture, a healthy ecosystem, and recreational pursuits—and the fact that many of these interests compete with one another. For that reason, this issue of the Colorado Business Review examines this topic from a variety of perspectives.
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Research
Business Research Division researchers have expertise in conducting marketing and economic impact studies using web-based, mail, and telephone surveys; focus groups; personal interviews; and data mining/analysis. Recent clients include those in the following industries:
- Travel, tourism, and recreation
- Workforce
- Economic development
- Government and policy
- Film
- Recycling
- Technology (photonics and nanotechnology)
The BRD presents an annual Colorado Business Economic Outlook Forum each December in Denver, followed by targeted presentations of the forecast to organizations across the state and nation. Forecast includes snapshots from specific counties and regions around the state, as well as updates on international trade, population, labor force and personal income growth, and a general outlook on the national economy.
In addition to conducting research, the division is the umbrella organization for the Colorado Association for Manufacturing and Technology and the Rocky Mountain Trade Adjustment Assistance Center.
News
Boulder County Business Report
May 16, 2012
The University of Colorado's economic impact on the state's economy in 2011 was $5.3 billion, according to a new study from the business research division of the university's Leeds School of Business.
Fox 31 Denver
May 14, 2012
Rich Wobbekind and Fox 31 Denver discuss popular job markets: medical, accounting, marketing, and architecture. Retail, tourism, and hospitality are also on the rise.
Denver Post
May 10, 2012
Rich Wobbekind analyzes Colorado economic data from the first quarter. The economy is rising despite the labor market staying stable.
Daily Camera
April 25, 2012
Leeds' Business Research Division found that Colorado's craft brewing business creates an output of $446 million annually. Five of the largest 50 craft breweries are based in Colorado, creating a budding beer tourism market.
Leeds School of Business
January 3, 2012
Colorado business confidence improves 7.2 points and companies plan more hiring and investment, according to the Leeds Business Confidence Index for the first quarter of 2012.
Publications
Research
April 2012
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
April 2012
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
February 2012
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
December 2011
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Publication
October 2011
This report, by reporting 2009 data, complements the Colorado Business Review 77:4, which discussed 2010 federal spending in Colorado.
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Research
October 2011
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
October 2011
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Each quarter, Colorado business leaders are invited to complete a brief online survey about next-quarter expectations. The survey results are then compiled into the LBCI.
Register to become a panelist.
Read/Download
Research
July 2011
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
June 2011
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Each quarter, Colorado business leaders are invited to complete a brief online survey about next-quarter expectations. The survey results are then compiled into the LBCI.
Register to become a panelist.
Read/Download
Research
April 2011
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
March 2011
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Each quarter, Colorado business leaders are invited to complete a brief online survey about next-quarter expectations. The survey results are then compiled into the LBCI.
Register to become a panelist.
Read/Download
Research
January 2011
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
December 2010
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
November 2010
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
October 2010
This forecast analyzes changes that have taken place in all economic sectors during the past year, and looks at the events and activities that will shape the changes in our population, employment, and overall economy for the coming year.
Read/Download
Full Publication
Research
September 2010
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
August 2010
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
June 2010
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
May 2010
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
March 2010
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
January 2010
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Publication
December 2009
2010 Colorado Business Economic Outlook
Full Publication
Research
December 2009
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
November 2009
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
September 2009
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
August 2009
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
June 2009
Author: Business Research Division
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
May 2009
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
Research
March 2009
Author: Business Research Division
The Leeds Business Confidence Index (LBCI) is a forward-looking index that gauges business leaders’ opinions about national and state economic trends and how their industry will perform in the coming quarter.
Read/Download
Research
January 2009
Author: Business Research Division
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
Read/Download
