There are a few indicators that many analysts feel indicate which cities are going to be the next powerhouses. By powerhouse we mean thriving. Economic growth and the ability for a city to draw in young smart talent is a fundamental of any city’s growth plan.
And Denver is in the top rankings for this category.
In fact, according to a most recent New York Times article “Where Young College Graduates are Choosing to Live” Denver is ranked 3rd in this category behind only Houston and Nashville. This is benefit that creates jobs exponentially. According to the article..
“It’s a type of growth that feeds on itself — the more young workers you have, the more companies are interested in locating their operations in that area and the more young people are going to move there”
Which helps explain the growth we are already seeing in such thriving neighborhoods as Lower Highlands, Riverfront Park, the Ball Park, Rino, and more. Their growth helps support new restaurants, shops, bars, and bistros… which in turns creates more reasons for people to want to live there. This in turn creates more opportunities for developers to come in and help build new higher density housing or improve existing housing. It helps turn empty lots into thriving restaurants, apartment buildings, and businesses.
It’s a positive cycle of growth. One that Denver looks to be positioned to enjoy for the foreseeable future. In fact Denver is a clear leader for many reasons such as….
Denver has become one of the most powerful magnets. Its population of the young and educated is up 47 percent since 2000, nearly double the percentage increase in the New York metro area. And 7.5 percent of Denver’s population is in this group, more than the national average of 5.2 percent and more than anywhere but Washington, the Bay Area and Boston.
Denver has many of the tangible things young people want, economists say, including mountains, sunshine and jobs in booming industries like tech. Perhaps more important, it also has the ones that give cities the perception of cultural cool, like microbreweries and bike-sharing and an acceptance of marijuana and same-sex marriage.
So our city is cool and drawing in the next generation of business leaders. Pretty cool.
To learn more about how the Denver market is growing contact anyone on the Denver Urban team today.