DU Contributes Nearly $1 Billion to the Denver Metro Region’s Economy Every Year
May 10, 2016 – DENVER –A recently released Development Research Partners study finds that DU is a powerful economic engine for the six-county metropolitan area, generating an economic impact of nearly $1 billion a year (Video).
The report establishes DU as an “anchor institution” that brings significant economic benefits to a city celebrated for its entrepreneurial energy and dynamic marketplace.
“[It shows] how critical DU’s role as an economic engine is to the health of Denver overall,” said David Ethan Greenberg, DU’s vice chancellor for institutional partnerships. “A large part of our vision is the qualitative role DU plays in Denver, from engagement to quality of research, to our role as a thought leader. But the flip side is that DU has been a physical presence in Denver for 152 years, and we are, in a quantitative way, an essential component of the Denver economy.”
DU is Denver’s second largest private non-retail employer, right behind United Airlines. What’s more, DU purchases goods and services from Colorado companies, brings out-of-town students and visitors — and their dollars — to the metropolitan area, and conducts $22.2 million in research each year, with more than 83 percent coming from sources outside of Colorado.
“We know that Denver and the University of Denver are integrally connected, through our partnerships throughout the region, our collaboration to address pressing challenges, and the civically and ethically minded graduates who remain here after graduation,” said University of Denver Chancellor Rebecca Chopp. “This report shows how we fit into the structure of the local economy — how much our day-to-day activities benefit residents, businesses and the tax base.”
One of the big beneficiaries of the University’s direct impact is the construction industry. DU’s construction spending in 2015 totaled $40.7 million. In the last 20 years, DU has invested $640 million in facilities and infrastructure, an average of $32 million each year. Additionally, direct spending by students — on everything from food and clothing to housing and transportation — reached $115 million in 2015.
“Seventy percent of first-year DU undergraduates are from outside Colorado, and 70 percent of our graduates choose to live here,” Greenberg said. “What DU does is import investment into Colorado. We’re doing it in terms of dollars spent and in terms of attracting talent.”
On top importing talented students primed to contribute to Denver’s economic success following graduation, DU also attracts roughly 32,700 visitors to campus each year, through sporting, cultural and other events, who spend $8.5 million.
“To my knowledge, DU has never quantified its contributions to the metro area,” said Chopp. “We’re proud to be in Denver and proud to play such a big role in the region’s economic life, as
we commit to being an even greater partner in the region.”
Economic Impact Report Video
The study was commissioned by the University as part of its strategic-planning process, which resulted in a 10-year blueprint for innovation known as DU IMPACT 2025.
This month's EDG meeting focused on the economic impact of the sports industry. With representatives from the majority of the professional teams within the Denver Metro area, as well as the Mayor of Glendale, "Rugby Town USA," Chamber members were given a unique perspective on how this industry drives the economy throughout our state.
The Denver Broncos' Vice President of Corporate Partnerships, Brady Kellogg, kicked off the breakfast with a review of the staggering economic impact the team has on Colorado's economy - with or without the Super Bowl Champion title. Most notably: the team has 205 full-time employees and grows to 3,500 on game day; fans represent nearly 200 million social impressions per month across a variety of digital channels; and corporate partnerships contribute to nearly $600 million in incremental spending on an annual basis.
Offering a different perspective, Gregory Feasel of the Colorado Rockies exclaimed, "we sell hope, it's not always about wins." The economic impact of this hopeful tradition is truly immeasurable. It engages the community, brings people and families together, and creates collaboration through friendly competition. Mayor Mike Dunafon furthered this point by highlighting the positive impact of Infinity Park's rugby arena in Glendale.
As a Chamber, we were delighted to host such an engaging panel of speakers and start the day focused on such an exciting topic. Until next time... "go team!"
Cancer is a cause that touches the lives of almost everyone around you, and the American Cancer Society has a long-standing tradition of working with businesses to celebrate cancer survivors, remember those lost to cancer and fight back against cancer through Relay For Life. Join us at a Relay event in your community this summer!
Your team will fundraise to support life-saving cancer research as well as free programs and services that support cancer patients and their families. Teams take turns walking the “track” throughout the fun-filled Relay event. There’s no fee to register so sign up today!
Signing up a team for Relay…
•Provides Excellent Community Exposure
•Fosters Employee Team Building and Boosts Morale
•Demonstrates Support for Survivors and their Families
•Increases Credibility in Your Community
•Emphasizes the Value of Service
•Provides Fun-Filled, Family-Friendly Entertainment
What is Relay?
•Members of each team take turns walking around the track
•Food, games and activities provide entertainment and build camaraderie
•Family-friendly environment for the entire community
The ACS staff and volunteers are working hard right now to recruit more teams for our upcoming Relay For Life events. Find a Relay Event in your community and get involved! You can form a team, raise money, join the planning committee, or volunteer. One in 100 people participate or volunteer in Relay For Life events in the U.S. Join us and fight back against cancer!
Relay events in south metro Denver…
Construction on this project begins Tuesday, May 10th. It will add over 2 miles of light rail to the existing 19 mile Southeast rail line, as well as three new stations and 1300 parking spaces. For more information, click here. Congratulations to the entire RTD team!
Things are starting to come together for the Chamber's RMOGC. This team has been busy preparing a 2016 presentation to support responsible energy development in Colorado! This 26-member committee supports responsible energy development because it is safe, good for our national security, and good for Colorado and our economy.
Their presentation is in the final stages of completion, and its debut will be to the Chamber at Del Fresco's on June 3rd. They will be reviewing why the four following ballot initiatives are not good for Colorado:
RMOGC is the execution of the idea that the entire south metro area can flourish with a balance of traditional as well as alternative fuels. The Council meets monthly. Each meeting features a speaker that discusses issues and trends within the energy industry and how it affects the local economy. For more information, click here.
Here’s your chance to get rid of those personal documents and outdated TVs, computers, phones and other electronics items taking up space in your home or office.
Members of LEADapalooza, one of the South Metro Denver Chamber of Commerce’s leads groups, are offering a shredding and electronics recycling from 9 a.m. to noon on June 4 at 1745 Shea Center Drive in Highlands Ranch, off of Lucent Boulevard a quarter mile south of C470.
“This is a great opportunity to get rid of those old gadgets and personal documents not suitable for the regular trash that are taking up space and collecting dust in your home or office,” said Cheryl Braunschweiger of ALMC Mortgage at NOVA Home Loans and a member of LEADapalooza.
Last year, LEADapalooza recycled 40,000 pounds of used electronics items, shredded 10,000 pounds of documents and raised $8,000 for Boy Scout Troops 4 & 628, whose members helped with the event.
“The shredding truck was so full the sides were bulging,” Braunschweiger said. “And Techno+Rescue had to bring in several extra trucks because of the tremendous volume of electronics items collected for recycling.”
Items eligible for recycling include laptop and desktop computers, printers, copiers, phones, stereo equipment, fax machines, monitors, TVs — basically anything that plugs into the wall or runs on batteries except large appliances. Cabling, electronic wiring and alkaline/single-use batteries can also be recycled. TVs & Computer Monitors will have a small cost to recycle. Hard drives will go through Department of Defense approved data destruction. The recycling and data destruction will be performed by Techno+Rescue of Aurora.
Documents eligible for shredding include bank statements, medical records, cancelled checks, paycheck stubs or anything else with personal or confidential information. There’s no need to remove staples, paper clips, alligator clips, etc. Items NOT being accepted are trash, pop cans, newspapers, household plastics, light bulbs and large appliances.
Each person is welcome to bring up to three copy boxes or one large trash bag of documents. All documents will be destroyed on site by Data Destruction, a professional document-destruction company.
Local Boy Scout Troops will be on hand to help and will be accepting donations of cash to support their troop activities.
Join the Chamber's Economic Development Group for this incredible program. To register today, click here.