Colorado Business & Employment Growth Since 2009

  • 29,807 more businesses
  • 472,261 more employees
  • 21.5% increase in total wages
  • $12,081 increase in annual wages per employee
  • 25.8% increase in wages per employee

Since 2009, the number of businesses in Colorado has grown by 17.0% (5.6% greater than the national average of 11.4%). Employment in Colorado has grown by 21.5% (7.8% greater than the national average of 13.6%). Wages have grown by 25.9% since the end of the Great Recession. This wage growth is 0.2% greater than the national average of 25.7%.
The average weekly wage in Colorado of $1,134 is 2.9% above the national average of $1,101. The gap between the national average has widened from 2.8% a widening of 0.1% since the end of the recession.

Sector Growth

Business Sector Growth

The Professional services sector has the most businesses in the state of Colorado. Since the end of the recession, the number of businesses has grown from 29,062 to 37,814, a gain of 30.1%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Professional services37,81429,06230.1%
Construction19,86620,484-3.0%
Healthcare18,55613,28639.7%
Retail trade17,82217,963-0.8%
Other services16,39112,64429.6%
Accommodation and food services13,66711,94114.5%
Wholesale trade13,52012,6776.6%
Real estate and rental12,1039,81323.3%
Waste services11,79010,14516.2%
Finance and insurance11,20310,7204.5%
Manufacturing5,8025,6622.5%
Information4,1713,24628.5%
Transport and warehousing4,1063,71910.4%
Arts and entertainment3,2612,53428.7%
Educational services3,0972,25637.3%
Company management2,8821,64375.4%
Agriculture and forestry1,7011,38822.6%
Mining and oil extraction1,5561,5440.8%
Utilities409412-0.7%

The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 30.1% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 3.0% since the recession.

Employment Sector Growth

The Healthcare sector has the most employees in the state of Colorado. Since the end of the recession, the number of employees has grown from 225,935 to 298,550, a gain of 32.1%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Healthcare298,550225,93532.1%
Accommodation and food services282,470217,77529.7%
Retail trade272,664238,42114.4%
Professional services224,607169,56132.5%
Construction173,059131,00332.1%
Waste services158,514132,03020.1%
Manufacturing147,274129,64213.6%
Finance and insurance112,628100,85711.7%
Wholesale trade108,27093,28716.1%
Other services82,01365,70724.8%
Transport and warehousing77,45459,07331.1%
Information74,99174,6820.4%
Arts and entertainment56,84544,55827.6%
Real estate and rental52,14642,93021.5%
Company management40,82428,55043.0%
Educational services36,68128,04930.8%
Mining and oil extraction28,20924,00317.5%
Agriculture and forestry18,14213,73532.1%
Utilities8,0308,401-4.4%

The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 32.1% since 2009. The sector that has has the largest employment decline in number of employees is the Utilities sector, which has declined by 4.4% since the recession.

Weekly Wage Growth By Sector

The Company management sector has the highest average weekly wage in the state of Colorado. Since the end of the recession, the average wage has grown from $2,238 to $2,617, a gain of 16.9%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Company management$2,617$2,2380.0%
Mining and oil extraction$2,323$1,7340.0%
Utilities$2,010$1,5230.0%
Information$1,938$1,4930.0%
Professional services$1,882$1,4920.0%
Finance and insurance$1,851$1,3220.0%
Wholesale trade$1,644$1,2590.0%
Manufacturing$1,359$1,1160.0%
Construction$1,200$9200.0%
Real estate and rental$1,143$7860.0%
Transport and warehousing$1,091$8050.0%
Healthcare$985$8510.0%
Waste services$847$6390.0%
Educational services$800$7070.0%
Other services$788$6290.0%
Agriculture and forestry$737$5500.0%
Arts and entertainment$730$5860.0%
Retail trade$624$5130.0%
Accommodation and food services$451$3310.0%

The sector that has had the strongest wage growth is the Unclassified sector, which has increased by 0.0% since 2009. The sector that has has the smallest wage growth is the Educational services sector, which has declined by 0.0% since the recession.


Industry Growth

Business Industry Growth

The Restaurants and other eating places industry has the greatest number of businesses in the state of Colorado. This industry currently has 10,426 businesses in it. There is no direct comparison to the total at the end of recession and is not included in the table below.

Industry20182009Pct Chg
Computer systems design and related services9,3316,5220.0%
Management consulting services6,9634,1150.0%
Offices of real estate agents and brokers5,5983,8160.0%
Private households4,7442,6230.0%
Residential building construction4,3214,4990.0%
Accounting and bookkeeping services4,0673,3350.0%

The top industry that has had the largest increase in the number of businesses is the Management consulting services industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of businesses is the Residential building construction industry, which has declined by 0.0% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of Colorado. This industry currently has 214,386 employees in it. There is no direct comparison back to the total at the end of the recession and is not included in the table below.

Industry20182009Pct Chg
Computer systems design and related services61,38640,2110.0%
General medical and surgical hospitals49,33248,2790.0%
Temporary help services44,32726,1350.0%
Hotels and motels except casino hotels41,59434,6580.0%
Management of companies and enterprises40,82428,5500.0%
Supermarkets and other grocery stores40,12035,6300.0%

The top industry that has had the largest increase in the number of employees is the Computer systems design and related services industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of employees is the General medical and surgical hospitals industry, which has declined by 0.0% since the recession.

Weekly Wage Growth By Industry

The Spectator sports industry has the highest average weekly wage in the state of Colorado. Since the end of the recession, the average wage has grown from $3,937 to $9,001, a gain of 128.6%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Spectator sports$9,001$3,9370.0%
Open-end investment funds$4,335$1,6580.0%
Investment banking and securities dealing$3,971$2,2750.0%
Commodity contracts brokerage$3,665$2,3880.0%
Other financial vehicles$3,617$4,2830.0%

The top industry that has had the strongest wage growth is the Spectator sports industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Other financial vehicles industry, which has declined by 0.0% since the recession.


Company Size

Business Growth By Company Size

The biggest percentage change in the number of businesses has been in businesses with 500 to 999 employees. The number of businesses with this number of employees has grown from 124 to 174, which is an increase of 40.3%.

The smallest percentage change in the number of businesses has been in businesses with 5 to 9 employees. The number of businesses with this number of employees has grown from 25,829 to 28,870, which is an increase of 11.8%.

Table: Change in the number of Businesses by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees127,232107,56718.3%
5-9 Employees28,87025,82911.8%
10-19 Employees20,45517,33318.0%
20-49 Employees14,92411,36431.3%
50-99 Employees4,5093,43531.3%
100-249 Employees2,4091,87828.3%
250-499 Employees52942624.2%
500-999 Employees17412440.3%
More Than 1,000 Employees928015.0%


Employment Growth by Company Size

The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 84,386 to 119,182, which is an increase of 41.2%.

The smallest percentage change in the number of employees has been in businesses with 5 to 9 employees. The number of employees with this number of employees has grown from 168,599 to 189,081, which is an increase of 12.1%.

Table: Change in the number of Employees by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees180,828154,91916.7%
5-9 Employees189,081168,59912.1%
10-19 Employees275,062232,00318.6%
20-49 Employees444,254338,41431.3%
50-99 Employees306,977231,96832.3%
100-249 Employees357,108273,53730.6%
250-499 Employees177,600146,04521.6%
500-999 Employees119,18284,38641.2%
More Than 1,000 Employees160,504137,64116.6%


Weekly Wage Growth by Company Size

The biggest percentage change in the average weekly wage has been in businesses with fewer than 5 employees. The average weekly wage in companies this size has grown from $851 to $1,178, which is an increase of 38.4%.

The smallest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $1,483 to $1,716, which is an increase of 15.7%.

Table: Change Average Weekly Wage by Size Since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$1,178$85138.4%
5-9 Employees$974$73532.5%
10-19 Employees$965$75627.6%
20-49 Employees$985$78026.3%
50-99 Employees$1,157$86833.3%
100-249 Employees$1,262$98827.7%
250-499 Employees$1,458$1,11530.8%
500-999 Employees$1,716$1,48315.7%
More Than 1,000 Employees$1,677$1,22636.8%



Data Sources




About the Writer

This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.