2024 Boulder Economic Forecast Program

PRESENTING THE MOST UP-TO-DATE ECONOMIC STATISTICS AND TRENDS FOR THE BOULDER AREA!

2024 BOULDER ECONOMIC FORECAST JANUARY 18 • 4 - 7:30 PM BOULDER JCC

HTTPS://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. LEARN MORE AT

WWW.BOULDERECONOMICCOUNCIL.ORG

PROGRAM 4:00 PM REGISTRATION

4:20 PM WELCOME AND PRESENTATIONS VIJAY KHATRI, DEAN CU LEEDS SCHOOL OF BUSINESS RICH WOBBEKIND, ASSOCIATE DEAN CU LEEDS SCHOOL OF BUSINESS BRIAN LEWANDOWSKI, EXECUTIVE DIRECTOR CU LEEDS SCHOOL OF BUSINESS ELIZABETH GARNER, STATE DEMOGRAPHER CO DEPARTMENT OF LOCAL AFFAIRS

6:00 PM NETWORKING RECEPTION

7:30 PM ADJOURN

THANK YOU

EVENTS LIKE THIS WOULD NOT BE POSSIBLE WITHOUT THE GENEROSITY OF OUR SPONSORS. Presenting Sponsor:

Community Sponsor:

Supporting Sponsors:

Contributing Sponsors:

Media Sponsors:

OUR SPEAKERS VIJAY KHATRI • DEAN, CU LEEDS SCHOOL OF BUSINESS Vijay Khatri is the Tandean Rustandy Endowed Dean of the Leeds School of Business, which is the first endowed deanship at the University of Colorado, Boulder.

Khatri is a Professor of Information Analytics and his research focuses on the information economy and spans design, management, governance, and use—through data analytics—of data repositories. He has a strong leadership record of accomplishment in student success, furthering research and scholarship, advancing diversity, equity, inclusion and belonging initiatives, and in community engagement.

Prior to joining the Leeds School of Business in July 2023, Khatri was a professor of operations and decision technologies at Indiana University’s Kelley School of Business. Khatri served in various leadership roles at Kelley, including Executive Associate Dean for Strategy, Innovation, and Technology; Associate Dean for Information, Instructional Technologies, and Academics; chairperson of the Department of Operations & Decision Technologies; co-director of the Institute for Business Analytics, which he helped create; and director of an Indian-registered company that operates Indiana University’s India Gateway in New Delhi. He led the development and multi-year funding of the Digital Intelligence Initiative, which included the establishment of the Institute for Digital Enterprise. He also led the development and multi-year funding of the Grant Thornton Institute for Data Exploration for Risk Assessment & Management (GT-IDEA), collaborating with the O’Neill School of Public and Environmental Affairs, and the Luddy School of Informatics, Computing, and Engineering.

Khatri’s research and teaching has earned him over a dozen awards, including the IU Provost’s Award for Supporting Undergraduate Research and Creative Activity, the MBA Teaching Excellence Award, IU Trustees’ Teaching Award, Kelley’s Innovative Teaching Award, the Harry C. Sauvain Teaching Award, Outstanding MSIS Faculty Award, among others.

Khatri’s education exemplifies a strong commitment to both business and engineering disciplines. He earned his PhD from the Eller School of Business at the University of Arizona, a master’s degree in business from the University of Bombay, and a bachelor’s degree in engineering from Malaviya National Institute of Technology.

OUR SPEAKERS

RICH WOBBEKIND • ASSOCIATE DEAN, CU LEEDS SCHOOL OF BUSINESS Richard L. Wobbekind is Associate Dean for Business & Government Relations, Senior Economist and Faculty Director of the Business Research Division and at the University of Colorado Boulder. He joined the faculty at the Leeds School of Business in 1985, and has served as an Associate Dean since 2000.

As Faculty 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. Wobbekind also produces the quarterly Leeds Business Confidence Index for Colorado.

Rich is the past president of the National Association for Business Economics. He participates annually in the Kansas City Federal Reserve Bank Regional Economic Roundtable, and is a contributor to the Western Blue Chip forecast newsletter and the National Association of Business Economists Economic Outlook and Policy Surveys.

Rich is a member of the Governor’s Revenue Estimating Advisory Committee and the Boulder Economic Council. He is an advisory board member for the Western Regional Science Association.

For his efforts in community development and outreach, Rich was awarded the University of Colorado Community Outreach Award in 1997. In 2002 he was named a Member of Distinction by the Boulder Chamber of Commerce. In 2006 he received the Robert L. Stearns award for lifetime excellence in research, teaching and service to the University of Colorado. In 2008 he was awarded the Thayne Robsen award from the Association for University Business and Economics Research for career achievement in regional economic analysis. In 2010 he was named Key Contributor by the Boulder Chamber of Commerce. In 2011 he was named a Fellow by the National Association for Business Economics.

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 44 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 Ph.D. in Economics from the University of Colorado at Boulder.

OUR SPEAKERS

BRIAN LEWANDOWSKI • EXECUTIVE DIRECTOR, CU LEEDS SCHOOL OF BUSINESS Brian Lewandowski is the Executive 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. He currently serves on the board of the Denver Association of Business Economists, is the President of the Association for University Business and Economic Research, and contributes to the Governor’s Revenue Estimating Advisory Committee.

ELIZABETH GARNER •STATE DEMOGRAPHER, CO DEPARTMENT OF LOCAL AFFAIRS Elizabeth is the Colorado State Demographer and has directed the State Demography Office in the Department of Local Affairs since 2004. Elizabeth travels the state talking with Coloradans about social and economic conditions that are brought about by population shifts. The State Demography Office applies an understanding of demographic trends to changes in a range of areas including the state’s economy, workforce, education, housing, migration, and rural populations.

Elizabeth has over 30 years of experience analyzing population and economic trends in Colorado. Her current research agenda involves examining Census 2020 results, demographic impacts from COVID19, housing supply and demand, and aging.

Elizabeth is an economist and received her B.A. in Business at the University of San Diego and her masters in Agricultural and Resource Economics at Colorado State University. Elizabeth was born and raised in Colorado, something only 43% of the state’s population can claim.

Your work makes a difference. Join over 1,200 BOULDER CHAMBER member organizations and begin your membership journey today!

SPONSORS PRESENTING SPONSOR

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 residential mortgage lender by volume 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 170,000 members and over $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. Learn more at elevationscu.com.

COMMUNITY SPONSOR 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 SPONSORS Eide Bailly is a nationally recognized certified public accounting and business advisory firm with offices throughout Colorado. Our Boulder office provides a variety of services, with specialties in audit, tax and international tax.

Through these services, we help clients gain a new perspective of what’s possible and make that vision a reality through inspired ideas.

SPONSORS SUPPORTING SPONSORS

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.

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.

SPONSORS SUPPORTING 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.

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.

CONTRIBUTING 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

SPONSORS CONTRIBUTING SPONSORS 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 odern, 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

MEMBERS ARE SAYING...

The Boulder Chamber has brought some of the most extraordinary people into my life. I've met so many individuals who are passionate about having a positive impact on this community, and I am constantly inspired by their success! It's such a great forum to get to know them and their organizations, to learn from them, and to collaborate with them.

- MERIX GUSTIN PLAN AHEAD EVENTS

JOIN US IN WELCOMING JOE HOVANCAK! 9:30 PM

9:50 PM

THE BOULDER CHAMBER IS PLEASED TO ANNOUNCE J O S E P H E . H O V A N C A K H A S B E E N S E L E C T E1D A0 S TPHM E NEW 1:0 VICE PRESIDENT OF ECONOMIC VITALITY. AN ACCOMPLISHED ECONOMIC DEVELOPMENT EXECUTIVE AND DEDICATED COMMUNITY CHAMPION, HOVANCAK'S INNOVATIVE ECONOMIC VITALITY EXPERIENCE INCLUDES BUILDING VIBRANT ENTREPRENEURIAL ECOSYSTEMS AND STRONG INCLUSIVE ECONOMIES FOR MAJOR METROPOLITAN AREAS.

“THE BOULDER CHAMBER WAS FORTUNATE TO ATTRACT TOP TALENT FOR ITS VICE PRESIDENT OF ECONOMIC VITALITY ROLE, BUT JOE STOOD OUT IN HIS WEALTH OF EXPERIENCE AND PROVEN TRACK RECORD IN SUPPORTING BUSINESS AND ECONOMIC SUCCESS," -JOHN TAYER PRESIDENT & CEO OF THE BOULDER CHAMBER.

CONNECT WITH JOE! REACH OUT TO HIM AT JOSEPH.HOVANCAK@BOULDERCHAMBER.COM.

SPONSORS MEDIA SPONSORS

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.

REGISTER TODAY

Presented by

Client-focused since 1924.

Plante Moran is a proud sponsor of the 2024 Boulder Chamber Economic Forecast.

One of the largest accounting and consulting firms in Colorado, our staff deliver on the commitments we set on day one. And with 100 years of experience behind us, our Colorado clients trust us with their continued growth and success.

Jim Cowgill 303-740-9400 jim.cowgill@plantemoran.com

WINTER PREVIEW Save the Date for our Upcoming Events!

1/25: Business Before Hours: Transportation 1/30: Bolder Young Professionals Happy Hour 2/9: Winter Bike to Work Day 2/14: Boulder Chamber Running Club and Membership Orientation 2/15: Business Women’s Leadership Group Meeting 2/20: Beer with John Don’t miss out. Register on our website.