ECONOMIC FOREC ST
BOULDER & BEYOND
PRESENTED BY
JANUARY 19, 2023 BOULDER JCC • BOULDER, COLORADO
Learn
More at BoulderEconomicCouncil.org
As the economic development arm of the Boulder Chamber, the BEC sustains economic vitality through direct support of primary businesses and collaboration with business, industry and community partners.
4:00 p.m. 4:30 p.m. 6:30 p.m. 7:30 p.m.
ECONOMIC FOREC ST
BOULDER & BEYOND
AGENDA
Scott Stenberg
Executive Director of the Boulder Economic Council and Associate Vice President for Economic Vitality
REGISTRATION | 6007 Oreg Ave, Boulder, CO 80303 WELCOME AND INTRODUCTIONS 2023 BOULDER ECONOMIC FORECAST
Dennis Paul Vice President, Government Affairs and Strategic Relationship af Elevations Credit Union
Dr. Richard Wobbekind, Associate Dean • Business & Government Relations and Senior Economist, University of Colorado at Boulder
REVIEW OF THE COLORADO VENTURE CAPITAL ECOSYSTEM
Mike Freeman, CEO & General Partner, Innosphere Ventures
Brian Lewandowski, Executive Director • Business Research Division Leeds School of Business, University of Colorado at Boulder Networking & Reception Adjourn
If you love where you live,
It matters where you bank
2023 Economic Forecast: Boulder & Beyond 3
is a proud sponsor of the
Economic Forecast.
Personal & Business Banking l Mortgage Loans l Business Loans elevationscu.com l 800.426.7626 Equal Housing Opportunity | Federally insured by NCUA | NMLS #717246 Elevations
Boulder
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ECONOMIC
ECONOMIC VITALITY
COMMUNITY
SUPPORTING
MEDIA
Events and programs like the 2023 Boulder Economic Forecast are only possible because of the generosity of our sponsors. Interested in becoming a Boulder Chamber sponsor? Contact us: membership@boulderchamber.com
PRESENTING THANK YOU 2023 SPONSORS
FOREC ST BOULDER & BEYOND
ECONOMIC FOREC ST BOULDER
& BEYOND
Brian
Lewandowski
•
Associate Director • Business Research Division Leeds School of Business • University of Colorado Boulder
Brian Lewandowski is Associate Director of the Business Research Division at the Leeds School of Business, University of Colorado Boulder. Brian provides regional business and economic information and education, including economic and revenue forecasts, policy studies, economic impact analyses, and data workshops. Brian has over 13 years of experience conducting economic studies at CU Boulder. Prior to CU, he worked in both the private sector and in government. He is currently the president of the Denver Association of Business Economists.
Richard Wobbekind, PhD • Executive Director • Business Research Division Leeds School of
Business
• University of Colorado Boulder Dr. Richard L. Wobbekind joined the faculty at the Leeds School of Business in 1985, and has served as Associate Dean since 2000. As Executive Director of the Business Research Division his responsibilities include developing an annual consensus forecast of the Colorado economy and performing various economic impact assessments of the Colorado economy. His office also produces the quarterly Leeds Business Confidence Index for Colorado.
Rich is a past president of the National Association for Business Economics. He is also a member of the Governor’s Revenue Estimating Advisory Committee and the Boulder Economic Council. For his efforts in community development and outreach, Wobbekind was awarded the 1997 University of Colorado Bank One Community Outreach Award. In 2006, he was awarded the Robert L. Stearns award for lifetime contributions in teaching, research, and service. Wobbekind teaches MBA students in macroeconomics, public policy, and managerial economics. He has received three awards for teaching excellence from the students of the Leeds School. Wobbekind has lived in Colorado for more than 40 years and has spent much of his time studying the development of the Colorado and regional economies. He received a BA in economics from Bucknell University and an MA and PhD in Economics from the University of Colorado at Boulder.
2023 Economic Forecast: Boulder & Beyond 5
SPEAKERS 2023 Economic Forecast
ECONOMIC FOREC ST BOULDER
& BEYOND
SPEAKERS
2023 Economic Forecast
Mike Freeman • CEO & General Partner, Innosphere Ventures
Mike works at the intersection of startups, venture capital, and economic development. He has over 30 years of executive-level experience in the public, private, and non-profit sectors. He has a dual role in managing Innosphere Ventures startup commercialization program and managing their Fund’s investments as a General Partner.
2022 Fall / Winter Market Profile Released
The BEC is excited to release the 2022 Fall / Winter Market Profile with new data in the new design. Boulder offers an impressive choice of art, cultural, dining, entertainment and shopping options, and has excellent schools, high-quality health care, and sustainable environmental policies. The Market Profile offers detailed metrics surrounding Boulder’s demographics, key industries, real estate, and other local economic factors.
Learn more at BoulderEconomicCouncil.org
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Boulder Economic Council | The economic development arm of the
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Scan Me
ECONOMIC FOREC ST BOULDER
& BEYOND
SPONSORS
PRESENTING
Elevations Credit Union empowers its members and the communities it serves along Colorado’s Front Range with financial solutions and education. In addition to offering a broad portfolio of consumer and business banking services, Elevations is the No. 1 credit union mortgage lender in Colorado. Founded in 1952 as the U. of C. Federal Credit Union in Boulder, the organization has grown from 12 members and less than $100 in assets to over 176,000 members, more than 600 local employees and over $3.3 billion in assets. Elevations became a two-time recipient of the Malcolm Baldrige National Quality Award in 2020 and first received the award in 2014. The credit union also earns local awards along Colorado’s Front Range for Best Bank, Best Mortgage Lender and Best Customer Service year after year. Learn more at elevationscu.com.
Boulder & Beyond
ECONOMIC FOREC ST
BOULDER & BEYOND
SPONSORS
ECONOMIC VITALITY
Tebo Properties is one of the leading commercial real estate owners and developers in Boulder County, Colorado. Tebo Properties offers a diverse portfolio of more than 250 properties and over four million square feet of office, retail, and industrial space. What distinguishes Tebo Properties, as Boulder County’s Commercial Landlord, is not the number of buildings we develop, own, and manage; it’s the pride Tebo Properties takes in securing premier locations and designing winning combinations for each building or site. Tebo takes into account whether tenants can draw traffic for one another, how the development will enhance the neighborhood, city, and what will add to the vitality of the community. Careful planning up front enables Tebo Properties to offer our 900 plus tenants every possible competitive advantage.
COMMUNITY
The City of Boulder is following a sustainable path to economic vitality by adopting strategies that promote innovation, entrepreneurship and economic opportunity while preserving community character and quality of life. Economic sustainability in Boulder is pursued through collaboration and partnership among public institutions, non-profit organizations, and the private sector. The city’s economic vitality efforts recognize the importance of a strong economy to overall quality of life and focus on promoting a diverse and dynamic economy where residents and businesses grow and succeed together. For more information about the city’s economic vitality program and available resources for businesses, visit BoulderColorado.gov/services/economic-vitality-program or contact Jennifer Pinsonneault at PinsonneaultJ@bouldercolorado.gov or 303-441-3017.
SUPPORTING
Plante Moran is among the nation’s largest accounting, tax, consulting, and wealth management firms and provides a full line of services to organizations in the following industries: manufacturing and distribution, financial services, service, healthcare, private equity, public sector, real estate, construction, and energy. Plante Moran has a staff of more than 3,300 professionals throughout the United States with international offices in Shanghai, China; Mumbai, India; Tokyo, Japan; and Monterrey, Mexico. In Colorado, Plante Moran has served its Colorado clients for more than 40 years with offices in Broomfield, Denver, and Fort Collins. Plante Moran has been recognized by a number of organizations, including Fortune magazine, as one of the country’s best places to work. For more information, visit plantemoran.com.
Boulder Economic Council | The economic development arm of the .
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ECONOMIC FOREC ST
BOULDER & BEYOND
SPONSORS
The University of Colorado Boulder serves as the state of Colorado’s comprehensive graduate research university with selective admission standards, offering a comprehensive array of undergraduate, master’s and doctoral degree programs. Our vision is to be a leader in identifying and addressing the humanitarian, social and technological challenges of the 21st century. To accomplish our strategic goals, we aim to shape tomorrow’s leaders by fostering an inclusive learning environment that encourages civic engagement, academic success, and innovation.
Trusted Advisors. Powerful Advocates. Strategic Partners.
SUPPORTING
ATTORNEYS AT LAW | BOULDER & DENVER, CO, IRVINE & SAN DIEGO, CA, CHEYENNE, WY, | 303.402.1600
ECONOMIC FOREC ST BOULDER
& BEYOND
SPONSORS
SUPPORTING
BOK Financial combines personal attention with sophisticated, diversified products and services. We focus on the financial needs of the community and are staffed with banking professionals empowered to make decisions that give businesses and individuals freedom to succeed. Our customers can take advantage of the BOK Financial family of financial services to guide them through all stages of their financial lifecycle – both personally and professionally.
Berg Hill Greenleaf Ruscitti is a full-service commercial law firm, we offer a wide range of legal services to businesses and individuals throughout the state, nation, and world. From our offices in San Diego and Irvine, California, Boulder and Denver, Colorado, and Cheyenne, Wyoming, we strive to provide high-quality legal work efficiently and cost-effectively. Our team works hard to understand each client’s unique needs to provide the tailored legal advice they deserve.
Eide Bailly is a Top 25 CPA and advisory firm in the nation with 40 offices in 15 states, including office locations in Boulder, Denver, Fort Collins and Grand Junction. Eide Bailly clients benefit from local, personal service and, at the same time, enjoy access to 2,500 professionals with diverse skill sets and experiences. With more than 100 years of service, we pride ourselves in being leaders in the industries we serve, offering valuable perspectives beyond our core strength of accounting and tax compliance. We’re here to help guide the strategy and operations of your organization.
Eide Bailly Services include: Audit & Assurance, Tax, Business Outsourcing, Cybersecurity, Fraud & Forensic Advisory, Data Analytics, Risk Advisory, Technology Consulting. Eide Bailly industries include: Construction & Real Estate, AG Producers, Energy Services, Government, Healthcare, Medical Practices, Nonprofits, Manufacturing & Distribution, Financial Institutions. Visit www.eidebailly.com for more information.
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Economic Council | The economic development arm of the
SUPPORTING SPONSORS
FlatIron Crossing is the premier shopping, dining and entertainment destination in Colorado, dominating the North Denver Metro area. Designed to reflect the active, outdoor lifestyle of Colorado, FlatIron Crossing features retail shopping in a two-level, superregional enclosed mall as well as an adjoining outdoor entertainment venue. An anchor lineup including Macy’s, Dillard’s and Dick’s Sporting Goods is joined with such prominent names as Aerie, AMC Theatres, Apple, Banana Republic, California Pizza Kitchen, The Container Store, Coach, Cotton On, Crate & Barrel, Gordon Biersch Brewery, H&M, P.F. Chang’s, PINK, Pottery Barn, Sephora, Soma Intimates and Williams-Sonoma. For the latest information, visit www.FlatIronCrossing.com or like/follow us on Facebook/Instagram
Twenty Ninth Street is an open-air shopping destination located in the heart of Boulder. Twenty Ninth Street includes Century Theatres, Colorado Athletic Club, The Home Depot, Nordstrom Rack and Trader Joe’s, plus an array of specialty shops and restaurants including Alpine Modern, Altar’d State, Anthropologie, Apple, Arhaus, Birdcall, Bonobos, lululemon, Madewell, Motomaki, Nike by Boulder, Parachute Home, Rakkan Ramen, Roark, Sephora, Shake Shack, Van Leeuwen, Veterinary Emergency Group, Vuori and West Elm. For the latest information, visit www.TwentyNinthStreet.com or like/follow us on Facebook/Instagram
2023 Economic Forecast: Boulder & Beyond 11
ECONOMIC FOREC ST BOULDER & BEYOND @ BoulderChamber Join the Conversation
MOTIVATED MOTIONLESS
KEEP MOVING FORWARD
No matter where you are in your journey, Eide Bailly has the resources to help you make confident decisions. From tax planning and business outsourcing to specialty services such as data analytics, cybersecurity, forensics, technology consulting, wealth planning and more, Eide Bailly has the solutions to keep you moving forward.
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Boulder Economic Council | The economic development arm of the .
eidebailly.com
ECONOMIC FORECAST
BOULDER & BEYOND
SPONSORS
MEDIA
BizWest provides the most comprehensive business coverage of any media in Boulder Valley and Northern Colorado. Business leaders rely on BizWest because they know the news is accurate, well-researched and fact-checked, from a reliable, independently owned, local source. BizWest editors and reporters have won numerous local and regional awards based on their expert journalistic skills. BizWest Media LLC is co-owned and operated by Jeff Nuttall and Chris Wood. www.bizwest.com
No one delivers a larger audience and better results than the Daily Camera and our family of products. We are a multimedia news and information source that includes print, online, mobile, digital direct mail, social media marketing and customized content to meet the specific needs of our readers and advertisers. We distribute 575,395 print products every week. Our websites attract 1.3 million unique online visitors and 6.1 million page views every month. We have more than 66,500 Facebook and Twitter fans and followers, a number that grows daily. Our mobile sites and applications draw 1.2 million page views every month. And we are actively involved in the communities we serve, donating $2 million of local non-profit support every year. Call 303.473.1400 to put us to work for your business.
14 Boulder Economic Council | The economic development arm of the . We simplify digital marketing all over Boulder County. Search Marketing Programmatic Advertising Social Media Our digital experts use proprietary Adtaxi technology to connect you with real customers We help businesses solve complex marketing challenges with custom solutions. naturally BOULDER COUNTY We simplify digital marketing all over Boulder County. Search Marketing Programmatic Advertising Social Media Native Advertising Email Marketing Local Expertise Our digital experts use proprietary Adtaxi technology to connect you with real customers We help businesses solve complex marketing challenges with custom solutions. The Daily Camera has served local businesses for more than 100 years. We deliver, every day. naturally BOULDER COUNTY Digital made simple. 303.473.1400 advertising@dailycamera.com We simplify digital marketing all over Boulder County. Search Marketing Programmatic Adver tising Social Media Native Adver tising Email Marketing Local Exper tise Our digital experts use proprietary Adtaxi technology to connect you with real customers. We help businesses solve complex marketing challenges with custom solutions. The Daily Camera has served local businesses for more than 100 years. We deliver, every day naturally BOULDER COUNTY Digital made simple. 303.473.1400 advertising@dailycamera.com We simplify digital marketing all over Boulder County. Search Marketing Programmatic Advertising Social Media Native Advertising Email Marketing Local Expertise Our digital experts use proprietary Adtaxi technology to connect you with real customers. We help businesses solve complex marketing challenges with custom solutions. The Daily Camera has served local businesses for more than 100 years. We deliver, every day naturally BOULDER COUNTY Digital made simple. 303.473.1400 advertising@dailycamera.com
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Boulder Economic Council | The economic development arm of the
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BoulderEconomicCouncil.org