Denver is one of the fastest growing cities in the country. The city has experienced a large influx of businesses setting up camp here due to a variety of reasons. Other than the abundant supply of beer and beautiful weather and landscape, you may want to know why businesses are interested in making the city home to their headquarters. Below are the top 5 reasons commercial moving services are staying busy moving companies in:
1. Centrally Located
In 2015 and 2016, Denver was ranked by Forbes as the best state to do business in, in the US. This is largely due to its relatively central location that makes it an ideal distribution center for the Midwest. The city is strategically located East of the mineral-filled Rocky Mountains. This proximity has also made it an attractive location for many mining companies to set up their headquarters.
2. A Pool of Talent
Denver has a huge pool of talent, and as most CEOs understand, highly skilled employees are very crucial to the success of an organization. Denver is overflowing with college educated Millennials seeking jobs in a variety of industries. Potential employees are highly knowledgeable and skilled due to the presence of top-rated universities nearby. Many companies are targeting the Millennials as they bring a different spirit to the workplace. They are looking the vibrancy and creativity that is characteristic of this demographic group.
3. Work-Life Balance
Companies that appreciate work-life balance are moving to Denver in search of employees who match their values. People are moving Colorado in droves because of its year-round appeal. The winter offers skiing, and the summer comes with many options for outdoor activities, like hiking, kayaking, and fishing. Many companies know that happy employees equate to better job performance. So, supporting a work hard, play hard mentality pays dividends.
4. A booming and robust economy
The economy of Colorado is well-diversified to survive an economic crash. In the 1980s, the economy was largely based on oil and went through a rough patch during the 80s economic crash. Now, industries include technology, hospitality, professional services, aviation and many others. The improved diversification makes for a less risky business environment.
5. Strong government incentives
The city of Denver offers great incentives to businesses that promote local economic growth. For instance, in 2017, Target Stores got a $4 million business incentive for the store they are set to open at the 16th Street Mall.
In 2014, the state also offered a business incentive of $1.5 million to Panasonic Enterprise Solutions Co. This was meant to incentivize the corporation to move its headquarters for the North American Market to the city. The company projected that it would employ about 330 people on the site with an average salary of $89,554. The company’s move to the city was projected to have an average annual economic impact of $82 million.