Economic IndicatorsFebruary 2017

WE BUILD COMMUNITY THROUGH BUSINESS

Unemployment Rate

Employment (Boulder County)

2.2%Dec 2016

3.0%July 2016

2.6%Dec 2015

Total Employment

181.1 (Dec 2016)185.7 (June 2016)188.1 (Dec 2016)

+3.9%1 year

Boulder County recorded 188,100 jobs in Dec 2016, a 1.3% increase over the last 6 months and 3.9% 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 Dec 2016, the unemployment rate was 2.7% in Colorado and 4.5% in the United States. Unadjusted unemployment rates. Source: Bureau of Labor Statistics

+1.3%6 months

1.9%Retail

8.2%Office

5.9%R&D/Flex

4.4%Industrial

Commercial vacancy rates have been in the single digits in Boulder, Colorado since Q1 2013.

Office vacancies have increased slightly from 6.4% vacancy in Q2 2016 to 8.2% in Q3 2016. At the same time in 2015, office vacancy was 4.1% Industrial vacancy has gone from 3.9% in Q2 2016 to 4.4% in Q3 2016, compared to 2.6% in Q3 2015.

These increases are partially due to new inventory on the market, but also do not take into account sub-lease space that is available.

Retail vacancies have increased from 1.7% in Q2 2016 to 1.9% in Q3 2016, compared to 1.1% in Q3 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 5.1% 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

5.1% Vacancy Rate Broomfield/ Boulder Counties

Median Single-Family Home Price

$845,0002016

$750,0002015

$656,0002014

$631,2502013

Single-Family Homes Sold

According to the Leeds Business Confidence Index (LBCI) business leaders’ expectations remained positive, and it increased slightly from 54.6 in Q3 2016 to 60.3 in Q1 2017.

9062016

10212015

9752014

8262013

A total of 906 homes sold in 2016, compared to 1021 homes sold in 2015 (11.3% decrease).Source: Boulder Area Realtor Association

Venture Capital Investment

In Q2 & Q3 2016, Boulder companies received $18.3 million in venture capital investment. Since Q1 2014, Boulder companies have received $513 million in venture capital investment, representing approximately 30% of all investment in Colorado.

Source: PwC MoneyTree Report

$18.3 million Boulder, Colorado

$513 million Since Q1 2014

2016 Investment (Q2 & Q3)

30%

Retail Sales Tax Revenue

In Nov 2016, the 12-month rolling sum for retail sales tax revenue in the City of Boulder reached $104,704,215, compared to the 12-month rolling sum of $100,605,930 in Nov 2015.

Source: City of Boulder

$104.7 million City of Boulder

12-month Rolling Sum