The economic base and industry opportunities in Westminster
Colorado is an aerospace center of excellence, paving the way for new discovery in the frontier of space. The state has a rich history in aerospace development and is at the forefront of space travel, exploration, and leading aerospace research. In addition to its strategic location, the state’s educated workforce, dynamic atmosphere for business growth, and hub of high-tech innovation have revolutionized the state’s growing aerospace industry.
The business support industry cluster is important to the economic vitality of the city of Westminster because it supports the functions of all other businesses, especially the other industry clusters. Aerospace, financial services, health and life sciences, hospitality and entertainment, and technology and information all rely on business support services in their daily operations.
Similar to the business support industry cluster, financial services in Westminster help support the activities of other industries in the city. Financial service companies provide capital, funding, and operation support to emerging and growing businesses. Westminster’s large and growing home-based businesses rely on financial services companies to assist them in their daily operations.
The Westminster health and life science industry cluster includes businesses involved in the full range of health and wellness services, as well as the research and production of pharmaceuticals and other bioscience products. The majority of health and life science companies in Westminster provide health care services to clients, and are mostly small businesses.
The hospitality and entertainment industry in Westminster is growing for several reasons. With the new development of our Downtown Westminster, as well as other target area development in the city, amenities such as restaurants and hotels have increased exponentially in the last several years, allowing Westminster to attract and host large national events.
The technology and information industry cluster includes businesses involved in services related to the research, development, manufacturing and servicing of hardware, software, and telecommunications equipment. Westminster technology and information companies represent a higher portion of the larger businesses than other industry clusters in our area.
New jobs in the past 5 years
With one of the highest concentrations of federally funded science and research labs in the nation, Colorado is home to more than 4,500 scientists and engineers. Federal labs contribute greatly to the evolution of Metro Denver’s high-tech industries and generate an estimated $720 million annual economic impact to the region. The labs also facilitate significant tech transfer opportunities among educational institutions and local companies in critical areas such as climate research, space science, and renewable energy development.
At the forefront of research and technology transfer in agricultural sciences, biomedical sciences, engineering, the environment, information technology, nutrition, and human health
Dedicated to research targeted at all aspects of Earth System Science and communicating its findings to the global scientific community
At the University of Denver (DU) - conducts basic biomedical research that may lead to new therapies for Down syndrome, ALS, cancer, autism, diabetes, and obesity