Colorado's Professional and Business Services Sector
Professional and Business Services (PBS) has the third-largest share of Colorado's employment, accounts for 14% of the state's GDP, and impacts nearly every industry and company in Colorado. Companies in this sector provide a wide variety of business services--from accounting and legal, to architectural and computer systems design. The articles in this issue highlight services provided by Colorado companies working in PBS as well as where the industry is headed.
Colorado Engineers--The Problem Solvers
The engineering profession contributed $3.1 billion in wages to Colorado's economy in 2012, and employed more than 30,000 people statewide. Engineers are integral to both the public and private sectors, and this article describes interaction the two. Mark Hamouz, a professional engineer at Alfred Benesch & Company, reviews the history of engineering in the state and outlines the response to the September flooding from the perspective of an engineer.
CU Instructor Helps Bridge Studies and Real-World Experience
Susan Morley, senior instructor at the Leeds School of Business, discusses the tax classes she teaches in the Leeds School and the VITA program she supervises every tax season. An IRS-sponsored program, VITA provides free tax return preparation services to low income tax payers.
EKS&H: Choosing to be in Colorado and Growing with the Community
Colorado's largest locally based public accounting and consulting firm, EKS&H, recently completed its first major acquisition, Infolink Consulting. Paul Kaiser, marketing manager with EKS&H, delves into the strategies and philosophies that have contributed to the company's nearly 40-year success in the Colorado business community.
Professional, Scientific, and Technical Services Fuel Colorado's Advanced Industries
Advanced industries (AIs) are R&D and STEM intensive industries that straddle advance manufacturing sectors and the professional, scientific, and technical services subsector of PBS. Together, Colorado's AIs account for 30% of the state's wage earnings and 35% of the value of all goods sold outside the state. The Colorado Office of Economic Development and International Trade is working to accelerate the growth of these sectors.
Colorado Startup Value Survey
The economics team in the Governor's Office of State Planning and Budgeting conducted a study to assess overall business creation and expansion activity in Colorado and the potential for growth in the PBS Sector. The survey helped gauge the levels of satisfaction with the resources and costs faced by entrepreneurs in Colorado and describe the value of Colorado's ecosystem for new businesses as perceived by entrepreneurs.
PBS Industry Summary
The authors provide an overview of the PBS Sector, including data related to employment, GDP, and education. Component subsectors are analyzed. PBS has experienced job growth of 17.6% since the end of the recession in 2010.