Work-life balance. In Denver, it's not just a catchphrase—it's our way of life.
This balance is one of the many reasons Denver is quickly turning into a city of ecommerce entrepreneurs and tech startups. The migration of startups to Colorado started about a decade ago and has snowballed to the point where Colorado has become a hotbed of digital startups. In 2013, Colorado was reported to have the highest density of tech startups in the country.
Boulder was the original tech center of Colorado, but Denver is quickly catching up. In 2014 and 2015, Denver was the fastest growing large city in the country. It's no surprise since Denver possesses all the qualities that make it the perfect location for new, innovative companies to thrive.
Following are just some of the nearly infinite reasons we love calling Denver home, and why so many other ecommerce and tech companies do, too.
1. Cost of Business
In 2017, Forbes listed Colorado as the 8th best state for business in America. Colorado has one of the lowest corporate income tax rates in the country at 4.63%, and Denver ranks the top 10 least expensive cities for commercial space, perfect for a companies intending to scale-up. Cost of living in Denver is rising but compared to similarly growing cities, the housing costs are among the lowest, and in comparison to expensive coastal cities, there is no competition.
The capital and the largest city in Colorado, Denver is a major transportation hub, but with one-third of the state dedicated to public land, the people of Denver can enjoy the benefits of city life and still take full advantage of the best parks in the world without traveling far.
Denver is also home to the most extensive park system in the country with more than 200 parks and 85 miles of trails within the city's boundaries. The emphasis on nature, the outdoors, and eco-friendly living is attractive to tech startups seeking to attract young, energetic talent and more experienced executives tired of the grind of coastal city living.
We always knew our staff was sharp, and this is why: Denver is one of the top twenty most educated cities in the country according to Forbes. Surrounded by state universities and constantly attracting skilled workers looking to escape the rat race of Silicon Valley and the like, Denver is bringing in the talent that companies need to staff their growing businesses. Currently, Denver is in the top ten cities of most substantial job growth in the tech industry, and as funding builds in the state, the city's recruiting abilities will grow with it.
Local leaders have worked hard to make Colorado and now Denver an incubator for technology startups, and they've come a long way since they began. There are thriving local networking groups, and online groups like BuiltIn, and perhaps even more importantly, mentoring organizations. Four years ago, Blackstone Entrepreneurs Network Colorado began mentoring promising startups to prepare them for funding asks and to help them meet goals and has had great success in growing those businesses over the last few years of mentoring.
Colorado's primary obstacle to becoming the Silicon Valley of the mountains has been attracting funding to its startups. Constantly in and out of the top 10 most funded locations, Colorado may finally have hit a growth spurt in 2017. The state had the highest investment total in 16 years with $1.1 billion in venture capital for the year and is hoping to continue the trend into 2018. The increasing attractiveness of local startups to investors will allow Denver to continue its evolution as one of the fastest growing tech cities in the country.
Whether you're just getting started, scaling up, or a fully established business, we look forward to collaborating with you to create digital experiences that will build your community and fuel customer growth. Contact us today about growing your business. And if you’re in the Denver area (or need an excuse to come check out why this city is so great), let’s grab a beer at one of our nearly 350 craft breweries!