When deciding where to start a business or where to live, it’s important to examine the economic data to confirm whether a city is viable in the short or long term. Anyone interested in moving to luxury homes, growing their business, or planning for a startup in Boulder, Colorado, should be happy that the economy is quite healthy. In 2021, the city’s metro area was ranked 3rd in the U.S. for venture capital invested per capita, offering an award-winning quality of life, a culture of innovation and innovation, and a collaborative, resource-rich business environment.
Explore what’s more the city has for you!
A Vibrant Startup Culture
Boulder is known as the city where big ideas come to life. In 2023, the city’s startup ecosystem earned a spot among the top 60 in the world, ranked 54 by StartupBlink, showing a clear sign of entrepreneurial spirit.
The city is widely known for attracting investors in their plans. In 2022 alone, local startups raised a staggering $2.5 billion in venture capital, which is 15% of all VC funding in Colorado. The funding pushes innovators to perform at their peak, gives resources they need to grow, push boundaries, and make an impact globally.
So, it’s no surprise that companies like Ball Aerospace, Boomtown Accelerators, and countless tech startups call the city their home. The city’s vibe is inspiring, its community is welcoming, and its place for success keeps getting stronger.
Top Performing Industries
Boulder’s workforce reflects the city’s dynamic and diverse economic foundation, where education, innovation, and hospitality converge to shape its employment landscape.
According to additional studies, including data from the U.S. Census Bureau, three primary industries dominate employment in the city:
- Educational Services: Leading the way, this sector employs approximately 11,250 residents.
- Professional, Scientific, and Technical Services: A close second, with around 10,150 residents employed.
- Accommodation and Food Services: Completing the top three, this industry provides jobs for about 6,150 residents.
On the higher end of city’s wage spectrum, top-earning industries command significant salaries:
- Mining, Quarrying, Oil, and Gas Extraction: The highest-paying sector, with an average salary of $126,985.
- Management: Ranking second, with an average salary of $96,422.
- Utilities: Third on the list, averaging $71,932.
Despite these high-paying opportunities, the city’s overall income profile reveals notable disparities. The city’s average income sits at $37,400—well above the national average of $28,555—while household income averages around $58,000, marginally higher than the U.S. average of $53,400.
Doing Business in Boulder
This city is a great place for businesses to grow, with lots of support and opportunities. It’s known for its strong startup community, access to funding, and a great place to live and work.
- Top University: The University of Colorado Boulder ranked among the top 50 U.S. public universities in 2024 (US News).
- Global Startup Hub: The city’s startup ecosystem is ranked 54th worldwide (StartupBlink, 2023).
- Startup Recognition: Inc. Magazine has called this city “America’s Startup Capital” and “America’s Startup City.”
- Venture Capital Success: In 2022, the city companies raised $2.5 billion in venture capital funding, making up 15% of Colorado’s total VC investments.
- Innovation Leader: The city ranked 6th in the U.S. for patent applications per capita between 2007 and 2011, according to the Brookings Institution.
- Most Innovative: The city was named one of the 20 Most Innovative Cities by Business Insider in 2013.
A Hub for Innovation
Boulder is not just a place where people come and do business; it’s a place where innovations take place. The Brookings Institution ranked the city 6th in the U.S. for patent applications per person between 2007 and 2011, a huge accomplishment for a city its size. Companies in the city are leading the way in fields like renewable energy and biotech, helping solve big global challenges.
In 2013, Business Insider named the city as one of the “20 Most Innovative Cities,” highlighting its focus on creativity and new ideas. This culture is supported by a close community of entrepreneurs, mentors, and accelerators, all dedicated to making a positive impact.
Sustainability and Quality of Life
The deep commitment to sustainability of Boulder isn’t just a policy—it’s a way of life. From embracing renewable energy to reducing waste and investing in eco-friendly public transportation, the city leads by example, proving that economic growth and environmental stewardship can go hand in hand.
This green approach doesn’t just benefit the planet; it also makes the city an incredible place to live and work. With its breathtaking outdoor spaces, a lively cultural scene, and a reputation for an award-winning quality of life, the city draws people who value balance and purpose.
For businesses, this means access to a workforce that’s not just talented but also happy, healthy, and inspired. Here, sustainability is more than an idea—it’s a driving force behind the city’s success.
Conclusion
Living or doing business in Boulder is full of surprises; each day you will be meeting like-minded people with innovative ideas. From resources to support networks, the city offers everything you need to grow your business and thrive. Here, you will not be laughed at for your ideas. Instead, you’ll find a supportive community that values creativity and innovation. In other words, you can call it the place where your ideas are respected, nurtured, and given the chance to grow.
