Aerospace and Defense Small Business Industry Day Open House

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Presentation transcript:

Aerospace and Defense Small Business Industry Day Open House Office of Economic Development and International Trade Business Development | International Trade | Small Business Resources | Funding & Incentives | Film Television & Media | Creative Industries | Tourism Aerospace & Defense Industry Champion Jay Lindell, August 2, 2017

CO & US Population Growth* *CO Office of State Planning and Budgeting June 17

CO Economic Activity Index* Planning and Budgeting *CO Office of State Planning and Budgeting June 17

CO and US Unemployment* Planning and Budgeting *CO Office of State Planning and Budgeting April 17

Planning and Budgeting CO Annual Job Growth* *CO Office of State Planning and Budgeting April 17

Job Creation Rate By Age of Business* *CO Office of State Planning and Budgeting Dec 16

Colorado Aerospace Economy Nearly 500 companies provide space-related products, services 84% small business, 58% fewer than 10 employees 2nd in nation per capita in aerospace employment; 25,550 jobs 2nd in nation in private aerospace employment 188,280 + in adjacent jobs (telecomm, IT) Anchored in government funded programs, but private space industry is growing Propels a diverse ecosystem through applied technology 7% nation’s private aerospace workforce is based in CO “Colorado possesses one of the most diversified, high potential space economies in the nation” Brookings Institute, Launch Report , Feb 2013

SBIR/STTR Funding Colorado 44.1% 55.9% Denver 31.4% 68.6% Boulder 64.9% 35.1% 53.1% Aerospace-Related Colo Springs Other 46.9% 3.1% Other 96.9% $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 ($, Millions) Source:: U.S. Small Business Administration.

Defense In Colorado* 5.2% jobs defense related 7.5% labor income traceable to defense $27B economic impact *CO DMVA Report Apr 2015

CO Aerospace by Govt Spending FY16* $6.3B Total Aerospace Govt Spending Other Govt Agencies: 1.5% NASA: 17.1% Dept of Defense: 81.4% Source: Development Research Partners / *USASpending.Gov, May 2017

Launching Colorado To Another Level! Jay.Lindell@state.co.us Together We Will Build A Stronger Colorado!