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.
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
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.
Looking ahead to Q2 2012, Colorado business leaders’ optimism has resumed. 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 47.3 in Q4 to 54.5 in Q1.
Confidence improved for all metrics, settling above the neutral mark (50). More robust sales and profits expectations have a lagging effect on hiring and capital expenditures. Expectations for the state and national economies both ticked up, with state expectations rocketing from 49 to 58.4 in Q1 2012. The expectations differential between the state and the nation remained high, at 7.2, in Q1, indicating greater confidence in the local economy than the national.
Looking back, many factors led to pessimistic readings in Q4 2011. Last quarter, the European debt crisis was on the verge of taking down Greece, spreading to other debt-burdened countries with structural deficiencies, and causing failures of large banks and even the common currency. The United States was coming off a ratings downgrade, the budget impasse threatened to shut down the U.S. government, and employment recorded softer growth leading up to last quarter’s LBCI release.
Looking ahead to Q1 2012, month- over-month employment figures and jobless claims are pointing to an improving labor market. The lack of consensus reached by the debt super committee, while disappointing, limited immediate impacts on federal spending and the markets. Drags on the recovery still persist—the European debt
crisis, weak housing prices and construction, and less-than-robust employment growth. However, modest improvement in the economic situation has resulted in growing optimism.
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.
Through its annual Colorado Business Economic Outlook, the BRD has established a base of knowledge that adds value to the division’s work in other areas. The BRD conducts research in a variety of areas, including travel, tourism, and recreation; workforce; government and policy; and economic development for businesses, governments, and nonprofits. Through data analysis, surveys (direct mail, web-based, and telephone), focus groups, and personal interviews, the BRD assists clients with making better-informed business and policy decisions.
Local, Regional, and State Research
The Business of Sports
The Leeds School of Business is launching a new two-month Business of Sports Intensive Certificate Program starting in June. Intended for students and recent graduates who are interested in pursuing careers in the sports and recreation industry, the curriculum includes studies in basic business topics integrated with industry-specific sports projects. Projects will be designed by one of the program's contributing partners, including the Denver Nuggets, the Denver Broncos, Alem International Management, and Vail Resorts. The BRD will offer students expertise and knowledge on various aspects of the research process.
Boulder Economic Drivers
Identified industries and clusters that drive the City of Boulder and Boulder County economies in 2008. The most significant and primary industries support the advanced technology and tourism clusters.
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.
Colorado’s Economic Opportunities: Today, Tomorrow, and the Future
Part One analyzed 13 industries identified as having growth potential in Colorado. Part Two evaluated the economies of the state's 64 counties.
Colorado Photonics Industry Directory and Analysis
This update includes an analysis of the photonics industry and a listing of all companies related to the industry in the state.
A Survey of Colorado Recreation Trends, Issues, and Needs
Examined the recreational activities, demands, facility and service preferences, expectations, and motivations of recreation participants. Also assessed the receptivity of the public to various funding strategies for local, state, and federal lands.
Colorado Nanotechnology Roadmap
Developed a customized three-year action plan and created a database of Colorado firms involved with nanotechnology. (2006)
Developed a database of organizations conducting homeland security research and organizations providing services or selling homeland security products in Colorado. Also identified a preliminary set of issues related to conducting homeland security research and business in the state. (2005)
CO-LABS Economic Impact Study: The Impact of Federally Funded Research Laboratories in Colorado
Quantified the economic impacts that federal research facilities and their university affiliates have on Boulder, Jefferson, and Larimer counties; the Denver Metro region; and the state of Colorado.
The Impact of Federal Government Facilities in the Denver Metro Region on the Region and on the State of Colorado
Determined the economic and fiscal contributions of federal facilities on the state of Colorado; and Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, and Jefferson counties (the Metro Denver region). Analyzed the economic impact, including economic benefits, public revenues, and public costs, of Metro Denver federal facilities from 2005-2008.
A baseline analysis of the film industry conducted to determine economic impacts, examine the industry’s structure, and understand the intangible benefits. (2003)
The Economic Impact of the Arts on Aspen and Snowmass
This study determined the economic impact of the organizations and audiences of the Aspen/Snowmass Council for the Arts on the Pitkin County area. (2004)
Colorado's economy is forecasted to improve, according to Richard Wobbekind, senior associate dean of academic programs at the Leeds School of Business. One-third of Colorado companies surveyed plan on hiring more employees this quarter and Wobbekind expects the GDP to increase 2.5 percent.
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.
The federal laboratories in Colorado together with their affiliates contributed $1.5 billion to the state economy in fiscal year 2010, and accounted for more than 16,000 direct and indirect jobs, a new survey shows.
An analysis by the University of Colorado shows that the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Colorado is a $714 million annual boost to the state's economy.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
Published quarterly by the Business Research Division, the Colorado Business Review newsletter provides in-depth analysis and information about Colorado’s economy.
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.
