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Colorado’s Small to Mid-Sized Companies Are Seeing the Most Economic Growth, According to Denver’s Chief Economist

The State of the Economy in the Colorado Construction Industry

DENVER, Colorado — January 23, 2013 — According to the Chief Economist at the Denver Office of Economic Development, small to mid-sized companies with 25-100 employees are currently adding the highest number of jobs in the state.

“Small firms adding one or two employees — that is really how the economy grows,” said Jeff Romine, Chief Economist at the Denver Office of Economic Development.

Twenty-five of Colorado’s contractors and suppliers gathered on January 15th at The Independent Electrical Contractors Rocky Mountain (IECRM) in Denver, to listen to The State of the Economy in the Colorado Construction Industry, a seminar and Q&A forum hosted by IECRM, and moderated by Colorado Business Bank and Bauerle and Company. Speakers at the event were: Jeff Romine, Chief Economist and Strategic Advisor for the Denver Office of Economic Development; Sam Bailey, Manager for Business Retention and Expansion within the Governor’s Office of Economic Development and International Trade; Phil Soderborg, Business Development Manager for GE Johnson Construction Company; and Damian Ederhoff, CPA at Bauerle and Company.

Bailey spoke at length about the state’s focus on developing Colorado as a “vital opportunity to relocate,” and about the ongoing work inside the Governor’s Office to help contractors develop the state’s vacant, unused properties, into functional work spaces for relocating companies. This relocation theme was also echoed by Romine.

Advice to Colorado’s contractors came from Phil Soderborg, Business Development Manager for GE Johnson Construction Company, who urged contractors to get involved with nonprofits. GE Johnson’s involvement with the Boys & Girls Club and Veteran’s Passport to Hope has been rewarding, and has also landed the company an impressive amount of new business.

Damian Ederhoff, CPA at Bauerle and Company, led a helpful Q&A session that included financial and tax advice.

To sign up for a future, free seminar at IECRM in Denver, please visit www.iecrm.org. To learn more about IECRM, becoming a member or partner of the trade association, or about electrical apprentice training and continuing education opportunities, please visit www.iecrm.org or call (303) 853-4886.

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