Economic IndicatorsJune 2017

WE BUILD COMMUNITY THROUGH BUSINESS

Unemployment Rate

Employment (Boulder County)

2.8%Feb 2017

2.9%Aug 2016

2.7%Feb 2016

Total Employment

184.4 (Feb 2016)185.5 (Aug 2016)190.3 (Feb 2017)

+3.2%1 year

Boulder County recorded 190,300 jobs in Feb 2017, a 2.6% increase over the last 6 months and 3.2% increase over last year. Source: Bureau of Labor Statistics

Measured in 1,000s

The Boulder Economic Council of the Boulder Chamber publishes this economic indicators report quarterly. It is produced with the assistance of CU Boulder’s Business Research Division at the Leeds School of Business.

BOULDER

The Boulder Economic Council and Boulder Chamber assume no responsibility or legal liability for the accuracy, completeness, or usefulness of any information in this report.

In Feb 2017, the unemployment rate was 3.4% in Colorado and 4.9% in the United States. Unadjusted unemployment rates. Source: Bureau of Labor Statistics

+2.6%6 months

2.2%Retail

10.3%Office

5.6%R&D/Flex

3.4%Industrial

Office vacancies have increased to the highest rate since 2012, going from 8.2% vacancy in Q3 2016 to 10.3% in Q4 2016. At the same time in 2015, office vacancy was 5.9% These increases are partially due to new inventory on the market.

Industrial vacancy has gone down from 4.4% in Q3 2016 to 3.4% in Q4 2016, compared to 3.5% in Q4 2015.

Retail vacancies have increased from 1.9% in Q3 2016 to 2.2% in Q4 2016, compared to 1.7% in Q4 2015. Source: Newmark Grubb Knight Frank

Commercial Vacancy Rates

Residential Real Estate

The median single-family home price in Boulder, Colorado has increased 31% since 2014. Source: Boulder Area Realtor Association

Residential Rental Market

Apartment vacancies for Boulder / Broomfield Counties were 5.2% in Q3 2016, compared to 5.4% in the previous quarter and 3.6% in Q3 2015. Source: Apartment Association of Metro Denver

Source: Leeds School of Business, University of Colorado Boulder

Business Confidence

303.442.1044 | 2440 Pearl Street • Boulder, CO 80302 | www.BoulderEconomicCouncil.org

5.2% Vacancy Rate Broomfield/ Boulder Counties

Median Single-Family Home Price

$838,000Q1 2017

$845,0002016

$750,0002015

$656,0002014

Single-Family Homes Sold

According to the Leeds Business Confidence Index (LBCI) business leaders’ expectations remained positive, and it increased slightly from 60.3 in Q1 2017 to 63.4 in Q2 2017.

168Q1 2017

10212015

9752014

8262013

A total of 168 homes were sold in Q1 2017, compared to 167 homes sold in Q1 2016 (0.6% increase).Source: Boulder Area Realtor Association

Venture Capital Investment

In Q4 2016 & Q1 2017, Boulder companies received $139.2 million in venture capital investment. In the same time period, Colorado companies received $244.8 million in venture capital investment. Boulder represented approximately 55% of all investment in Colorado.

Source: Mass Investor; PwC MoneyTree Report

$139.2 million Boulder, Colorado

Q4 2016 & Q1 2017 Investment

Retail Sales Tax Revenue

In Dec 2016, the 12-month rolling sum for retail sales tax revenue in the City of Boulder reached $105,476,034, compared to the 12-month rolling sum of $102,034,764 in Dec 2015.

Source: City of Boulder

$105.5 million City of Boulder

12-month Rolling Sum

9062016