2017 Economic Profile

Workforce & Population Jefferson County EDC Economic Profile 32 Jefferson County EDC Economic Profile At A Glance

Jefferson CountySQUARE MILES 773.2

POPULATION 565,230

MEDIAN AGE 41.3

HOUSEHOLDS 237,147

LABOR FORCE 317,527

NUMBER OF JOBS 234,662

AVERAGE WAGE $54,392.00

UNEMPLOYMENT RATE 2.5%

Lakewood

Golden

Arvada

Morrison

Conifer

Genesee

Edgewater

Evergreen

WheatRidge

6

58

470

470

285

6

93

72

391

874

88

88

285

Westminster

At a Glance Workforce & Population

PopulationTotal

PopulationJeffco Only Population

JEFFERSON COUNTY 565,230 565,230

ARVADA* 115,174 111,948

BOW MAR* 944 295

EDGEWATER 5,315 5,315

GOLDEN 20,370 20,370

LAKESIDE 8 8

LAKEWOOD 153,024 153,024

LITTLETON* 44,611 2,542

MORRISON 437 437

MOUNTAIN VIEW 533 533

SUPERIOR* 12,989 0

WESTMINSTER* 112,737 43,885

WHEAT RIDGE 31,210 31,210

UNINCORPORATED 195,663 195,633

DENVER MSA 3,075,701 N/A

COLORADO 5,456,584 N/A

*Municipality is located in multiple counties. Source: Colorado State Demography Office, 2016

White78.3%

Hispanic or Latino

14.3%

5-14 yrs12.3%

15-24 yrs12%

25-34 yrs12.5%35-44

yrs12.7%

45-54 yrs

14.8%

55-64 yrs

15.1%

65-74 yrs9.4%

75-84 yrs4.3%

85+ yrs1.9%

<5 yrs 5%

Black or African American

1.1%

Age Distribution

Cultural DiversityAsian & Pacific

Islander2.9%

Other1.7%

American Indian, Alaska Native

1.7%

Source: U.S. Census Bureau, 2015

Source: U.S. Census Bureau, 2015

Labor ForceJefferson County Denver MSA Colorado

TOTAL LABOR FORCE 317,527 1,649,882 2,933,300

UNEMPLOYMENT RATE 2.5% 3.6% 2.6%

Source: Colorado Department of Labor & Employment, 2015, and Development Research Partners

Jefferson County, Colorado forms the western boundary of metropolitan Denver and offers a diversified geographical setting, from urban and rural lifestyles, to thriving mountain communities in the beautiful Rocky Mountains.

The county is home to some of the world’s most successful and diverse companies that are creating world-class technologies and products. These companies are benefiting from the many qualities that make Jefferson County a premier business location.

HIGHLY EDUCATED WORKFORCE – Jefferson County has a nationally acclaimed K-12 school district and a highly educated workforce. More than 42% of the residents in the county have a bachelor’s degree or higher, helping position Colorado as the nation’s second-most educated workforce. Businesses in the county have access to a labor market that boasts the third-highest concentration of high-tech workers in the nation.

BUSINESS-FRIENDLY TAX ENVIRONMENT – Companies in Jefferson County enjoy a pro-business tax climate that rewards investment, growth and innovation. With a low tax environment at state and local levels, the county continues to provide a business-friendly environment.

STRATEGIC LOCATION – WIth its close proximity to Denver International Airport and major transportation corridors, Jefferson County’s integrated, cutting-edge infrastructure helps businesses efficiently reach markets locally and internationally.

CENTER OF EXCELLENCE – Jefferson County is at the epicenter of innovation and entrepreneurial activity. The county’s prominent role as a high-tech leader is greatly enhanced by the presence of the National Renewable Energy Laboratory and the Colorado School of Mines.

UNMATCHED QUALITY OF LIFE - With over 300 days of sunshine and diverse recreational opportunities, Jefferson County is one of the most active and healthiest regions in the country.

Business & Industry Jefferson County EDC Economic Profile 54 Jefferson County EDC Economic Profile Business & Industry

Business & Industry

Industry Cluster BreakdownIndustry Establishments Employment

AEROSPACE 18 6,049

AVIATION 108 475

BEVERAGE PRODUCTION 20 2,167

BANKING & FINANCE 566 3,692

BROADCASTING & TELECOMMUNICATIONS 408 2,088

CLEANTECH 435 6,767

FOSSIL FUELS 281 2,401

HEALTHCARE & WELLNESS 3,346 29,010

INSURANCE 688 3,090

INVESTMENTS 1,246 2,470

IT-SOFTWARE 902 6,841

MEDICAL DEVICE & DIAGNOSTICS 62 3,346

PHARMACEUTICALS & BIOTECHNOLOGY 41 385

Total 8,121 68,781

Source: Jeffco EDC, 2017

Top Primary EmployersEmployer Product/Service Employees

LOCKHEED MARTIN Aerospace & Defense 6,274

LUTHERAN MEDICAL CENTER Medical Services 2,506

MILLERCOORS BREWING COMPANY Beverages 2,255

TERUMO BCT Medical Technology 2,220

ST. ANTHONY HOSPITAL Medical Services 1,800

NATIONAL RENEWABLE ENERGY LABORATORY Research Laboratory 1,700

BALL CORPORATION Aerospace Mfg. & Bottle Facility 1,573

FIRSTBANK HOLDING CO. OF COLORADO Financial Services 1,372

HOMEADVISOR Home Improvement & Repair 1,132

COORSTEK Ceramic Component Mfg. 1,100

KAISER PERMANENTE Healthcare 680

Professional,Business,

Education &Health

Services35.9%

Employment DistributionAgriculture& Mining

1.6%

Retail Trade24.2%

Construction5.0%

Manufacturing13.2%

WholesaleTrade2.4%

Transportation,Communication

& Utilities 2.4%

Finance, Insurance, Real Estate

5.8%

Other.6%Government

8.9%

Source: Development Research Partners, 2016Source: Colorado Department of Labor & Employment, 2017

Business & IndustryASSESSMENT RATIOS

Commercial Property 29%

Residential Property 7.96%

MILL RATES

Jefferson County 24.709 mills

School District 45.941 mills

City/Special Districts Varies by location

STATE INCOME TAX

Personal Income Tax 4.63%

Corporate Income Tax 4.63%

Mill rates (dollars of tax per $1,000 of assessed valuation) are determined by individual entities within Jefferson County. Real and business personal property

are assessed at 29%.

Source: Colorado Division of Property Taxation, 2017 & Jefferson County, 2017

State City County*RTD/CD** Total

ARVADA 2.9 3.46 0.5 1.1 7.96

EDGEWATER 2.9 3.50 0.5 1.1 8.00

GOLDEN 2.9 3.00 0.5 1.1 7.50

LAKESIDE 2.9 2.10 0.5 1.1 6.60

LAKEWOOD 2.9 3.00 0.5 1.1 7.50

MORRISON 2.9 3.75 0.5 1.1 8.25

MOUNTAIN VIEW 2.9 4.00 0.5 1.1 8.50

SUPERIOR 2.9 3.46 0.5 1.1 7.96

WESTMINSTER 2.9 3.85 0.5 1.1 8.35

WHEAT RIDGE 2.9 3.5 0.5 1.1 8.00

UNINCORPORATED 2.9 N/A 0.5 1.1 4.50

Sales Tax Rate

*Jeffco Open Space

**Regional Transportation District/Cultural Facilities District

SINGLE FACTOR TAX APPORTIONMENT - Colorado simplified its corporate income tax structure in 2008 changing from multiple factor to single factor apportionment, which assesses taxes on a company’s sales in Colorado only.

OCCUPATIONAL HEAD TAX – Jefferson County does not charge an occupational head tax to employers and employees.

Local & State Taxes

RIGHT TO WORK - Colorado is a modified right-to-work state, with the most progressive labor law in the country. The Colorado Labor Peace Act requires two elections and approval from 75 percent of a company’s workers before becoming unionized.

State Incentives & ResourcesColorado offers various targeted tax and cash incentive programs to companies creating new jobs and investment in the state.

Local Property Tax Incentives & RebatesLocal governments can provide property tax credits or incentives for qualifying businesses in its jurisdictions.

Education Jefferson County EDC Economic Profile 76 Jefferson County EDC Economic Profile Education

EducationHigh School

Graduation StatisticsJefferson County¹

82.8%

Colorado²

78.9%

U.S. Average³

83.2%

ACT Test Scores

SAT Test Scores

Jefferson County21.6

Metro Denver20.6

Colorado US Average20.820.6

Reading Writing MathematicsCOLORADO 587 571 589

US AVERAGE 494 482 508

Sources: Colorado Department of Education¹,², 2016 U.S Department of Education³

Source: Colorado Department of Education, 2016

Jeffco Public Schools has been providing educational excellence for more than 60 years. Approximately nine percent of all the K-12 students in Colorado attend a Jeffco School. The official enrollment count for the 2015-16 school year is 86,721.

Highlights- Jeffco students continue to outperform the state in all

grade levels and content areas on CMAS and PSAT 10 tests.

- In 2016, Jeffco high school graduates received approximately $75 million in scholarships.

- U.S. News & World Report ranks eight Jeffco high schools in the top 50 schools in Colorado on their 2016 Best High Schools list: D’Evelyn (#4), Evergreen (#13), Conifer (#17), Lakewood (#20), Chatfield (#25), Ralston Valley (#27), Dakota Ridge (#42), and Bear Creek (#45).

Education

Higher EducationFall Enrollment

4-YEAR COLLEGES & UNIVERSITIES

Colorado School of Mines* 5,932

Colorado State University 27,935

Metro State University 20,155

University of Colorado - Boulder 31,663

University of Colorado - Denver 18,658

University of Northern Colorado 10,058

4-YEAR PRIVATE COLLEGES & UNIVERSITIES

Colorado Christian University* 5,787

Johnson & Wales 1,388

Regis University 9,208

University of Denver 11,797

TWO YEAR PUBLIC COLLEGES

Aims Community College 5,298

Arapahoe Community College 10,004

Community College of Aurora 6,943

Front Range Community College 18,747

Red Rocks Community College* 7,789

Rocky Mountain College of Art & Design* 760

Total Fall Enrollment 192,122

*Located in Jefferson County

Sources: Colorado Commission of Higher Education & individual universities

Educational Attainment% of Total

JEFFERSON COUNTY

High school diploma or higher 94.4

Bachelor’s degree or higher 43.2

COLORADO

High school diploma or higher 92.1

Bachelor’s degree or higher 39.2

US AVERAGE

High school diploma or higher 87.1

Bachelor’s degree or higher 30.6

Source: US Census Bureau, American Community Survey, 2016

Jefferson County Colleges & UniversitiesCOLORADO CHRISTIAN UNIVERSITY – CCU delivers world-class education to thousands of students and offers more than 50 accredited degrees and programs. The university is currently redeveloping its campus in Lakewood. This $120 million project will completely transform the campus with 11 new buildings totaling 700,000 square feet.

COLORADO SCHOOL OF MINES – Ranking as the number one engineering school in the nation, Mines is a public research university devoted to engineering and applied science. The university has one of the highest admission standards of any public institution in the nation.

RED ROCKS COMMUNITY COLLEGE – RRCC offers more than 150 programs and 650 courses leading to two-year degrees and professional certificates. The college is one of the only community colleges in the nation to offer a master’s degree in Physician Assistant studies. RRCC has two campus locations in Lakewood and Arvada. Its Arvada campus recently expanded with a new 50,000 sq. ft. Health Professions and Science building.

ROCKY MOUNTAIN COLLEGE OF ART & DESIGN – RMCAD is a private art institution offering campus and online undergraduate and graduate degrees for creative careers.

Real Estate Jefferson County EDC Economic Profile 98 Jefferson County EDC Economic Profile Transportation

Real Estate

IndustrialExisting Sq. Ft.

% Vacant

Avg. Lease Rate

(Per Sq. Ft.)

DENVER METRO

Industrial Warehouse

132,357,419 3.9 $7.37

Flex/R&D 10,091,325 11.2 $11.96

JEFFCO

Industrial Warehouse

7,945,473 3.5 $8.31

Flex/R&D 1,402,784 4.3 $10.24

RETAIL

Jeffco 34,558,121 5.2 $13.88

Metro Denver 164,909,230 4.5 $16.55

Business Park Acres

CANDELAS 1,451

ROONEY VALLEY 1,276

KELLER FARMS 1,200

DENVER FEDERAL CENTER 637

VERVE INNOVATION PARK AT RMMA 573

FEHRINGER RANCH 493

DENVER WEST BUSINESS PARK 450

WESTMOOR TECHNOLOGY PARK 425

UNION BOULEVARD CORRIDOR 418

COORS TECHNOLOGY CENTER 375

KEN CARYL BUSINESS CENTER 300

LAKEWOOD TECHNOLOGY PARK 300

ACADEMY PARK 250

CHURCH RANCH CORPORATE CENTER 145

MOUNTAIN PLAINS INDUSTRIAL CENTER 138

GENESSEE BUSINESS PARK 110

BELMAR 104

CANYON VIEW BUSINESS PARK 100

JEFFERSON CORPORATE CENTER 93

CIRCLE POINT CORPORATE CENTER 82

CORPORATE CENTER 79

JEFFERSON I RESEARCH CENTER 70

JEFFERSON II RESEARCH CENTER 54

44TH INDUSTRIAL PARK 51

Major Business Parks

Materials Installation Composite

SAN FRANCISCO 104.1 146.0 122.5

BOSTON 100.6 139.1 117.5

ATLANTA 98.1 75.6 88.6

CHICAGO 99.9 140.4 117.8

LOS ANGELES 100.2 117.2 107.1

KANSAS CITY 100.2 104.8 102.2

DENVER 101.6 80.4 92.3

PHOENIX 100.5 73.0 88.4

DALLAS 99.2 67.9 85.4

Construction Cost Index

OfficeExisting Sq. Ft.

% Vacant

Avg. Lease Rate

(Per Sq. Ft.)

DENVER METRO

Class A 63,960,404 10.1 $30.41

Class B 94,836,072 10.0 $22.56

Class C 21,570,561 4.2 $18.59

JEFFCO

Class A 5,416,175 7.3 $25.60

Class B 13,927,860 13.8 $19.09

Class C 3,453,958 5.7 $15.68

Real Estate Market Overview

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TransportationDENVER INTERNATIONAL AIRPORT (DEN) – Built in 1995, DEN is the 15th busiest airport in the world, and the 5th busiest in the U.S. With more than 53 million passengers each year, DEN is one of the of the most efficient airline hubs in the world. Home to 15 commercial carriers, the airport has more than 170 nonstop destinations, including 19 international locations. The airport’s new transit center opened in 2016, connecting passengers to downtown Denver’s Union Station.

ROCKY MOUNTAIN METROPOLITAN AIRPORT (RMMA) – Located in the north region of Jefferson County, RMMA is the closest airport to both downtown Denver and Boulder. RMMA serves as a reliever airport to Denver International Airport, and is the fourth busiest airport in Colorado. International travelers at RMMA have convenient access to an on-site U.S. customs office operating 24 hours per day. The absence of landing fees at RMMA make clearing U.S. customs easy and cost effective.

Verve Innovation Park is adjacent to RMMA on the southwest side, and consists of 573 acres of land available for development. The park is zoned for mixed-use, to include commercial, office, light manufacturing, and aviation.

THE REGIONAL TRANSPORTATION DISTRICT (RTD) – FASTRACKS PROJECT is the nation’s largest voter-approved transit expansion program. When complete in 2019, the $7.4 billion project will provide 122 miles of commuter/light rail with 57 stations and 18 miles of bus rapid transit for easy convenient connections across metro Denver.

Serving Jefferson County is the West Rail Line and the Gold Line.

Living Here Jefferson County EDC Economic Profile 1110 Jefferson County EDC Economic Profile Living Here

Grocery Housing Utilities Transport Healthcare Composite

PHOENIX 94.6 98.6 95.2 102.1 95.3 98.6

SAN FRANCISCO 132.8 334.4 107.3 133.1 118.2 181.9

WASHINGTON D.C. 114.3 243.7 121.8 97.9 100.1 151.6

BOSTON 107.9 203.2 150.2 113.3 132.7 146.4

CHICAGO 103.5 140.9 87.1 133.0 103.3 117.6

DENVER 110.4 134.4 94.7 104.1 107.8 112.6

DALLAS 110.3 96.4 98.9 100.7 108.3 103.2

Source: The Council for Community and Economic Research, 2016

Cost of Living Index

Median Household Income Per Capita Personal Income

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Climate

DAYS OF SUNSHINE PER YEAR

300+

HOTTEST MONTHJuly

(88° avg. high)

COLDEST MONTHDecember

(14° avg. low)

ANNUAL PRECIPITATION15.54 inches (avg.)

ANNUAL SNOWFALL55 inches (avg.)

AVERAGE HUMIDITY

38%

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LESS THAN $14,999 6.7%

$15,000-$24,999 6.4%

$25,000-$34,999 8.1%

$35,000-$49,999 12.4%

$50,000-$74,999 18.1%

$75,000-$99,999 14.7%

$100,000-$149,999 18.3%

$150,000-$199,000 8.1%

$200,000+ 7.1%

Household Income

Source: U.S. Census Bureau, 2015

Jefferson County Housing Costs

Median Home Price

$419,445

Average Monthly Rent$1,343

Homeowner Vacancy Rate

0.9%

Rental Vacancy Rate4.1%

Source: U.S. Census Bureau, 2015, and Colorado Comps, 2016

HealthcareLUTHERAN MEDICAL CENTER is a community-based, acute-care hospital located in Wheat Ridge. Local and national ratings organizations regularly recognize Lutheran for clinical excellence, patient safety and patient experience. Lutheran’s premier services include a five-star birthing center, Heart and Neurovascular Center, robotic surgery, Primary Stroke Center, Comprehensive Cancer Center, Orthopedics, a Level III Trauma Center, and emergency services including the first Senior Emergency Room in Colorado. Senior-focused services also include Senior Behavioral Health and a Senior Surgery Center. Lutheran operations Include West Pines, Lutheran Hospice, Bridges Health and Wellness, and Colorado Lutheran Home and Apartments.

ST. ANTHONY HOSPITAL, located in Lakewood, provides expert care with innovative technology. As a Level I Trauma Center, St. Anthony Hospital is a primary receiving center for the region’s most seriously ill and injured patients, and is the headquarters for Flight for Life Colorado. St. Anthony provides services in cardiology, stroke, neurosciences, oncology, and orthopedics. In addition, the St. Anthony Medical Campus is home to a Comprehensive Stroke Center, Neuroscience Center, Cancer Center, Breast Center and OrthoColorado Hospital, the only orthopedic specialty hospital in the region.

KAISER PERMANENTE serves its Jefferson County members from medical facilities in the cities of Arvada, Lakewood, Westminster and Wheat Ridge, as well as in the unincorporated areas of the county.

JEFFERSON COUNTY OPEN SPACE PROGRAM was created by a vote of Jefferson County citizens in 1972 to preserve open space land for present and future generations. The nationally recognized program is funded by a 0.5% sales tax on the county’s retail sales. To-date, the program has acquired 43,675 acres with 236 trail miles, and sees over 2.4 million visitors annually.

COLORADO HAS THE NATION’S LOWEST OBESITY RATE AND RANKS FIRST FOR PHYSICAL ACTIVITY

(Kaiser State Health Facts, 2016)