Setting Up a Business in Louisville, Colorado

Louisville is a mid-sized urban center in Boulder County with a population of approximately 20,000 people. The city has a central location within Colorado and is within easy reach of other major cities, with Denver only a 30-minute drive away and Boulder just 10 minutes to the west.

Key Industries and Employers in Louisville, Colorado

Key industries in Louisville include education, real estate, healthcare services, retail, trade, transportation, finance, and leisure. The city’s industry base is reflected in the list of main employers, which are Avista Adventist Hospital (with nearly 700 employees), telecommunications firm Zayo Group, the Sierra Nevada Space Corporation, the City of Louisville, Fresca Foods, Balfour Senior Living, and technology solutions company Medtronic.

The labor market in Louisville generally evidences low unemployment levels, which at an average of around 3.5 percent are well below the national average. The number of college graduates is above the US average, standing at nearly 70 percent (compared to 28 percent US-wide), and 35 percent of Louisville residents have a graduate degree. Self-employment levels are 18 percent higher than those in the Denver – Aurora metropolitan area.

Being a small community, the local business environment is geared towards promoting sustainable economic development. Business assistance programs are available to eligible companies, mostly in the form of tax rebates covering sales and construction use taxes. There are also business recognition programs for companies involved in green practices. More details can be obtained from the City of Louisville government website and from the local Chamber of Commerce.

Finding Office Space In Louisville, Colorado

Office space in Louisville, Colorado, is mostly offered in a corporate office park environment, although there are also a few office units in R & D parks located in the suburbs of the city. There is an urban renewal plan in place to redevelop commercial properties along Highway 42. In addition the Colorado Technology Center, located a few miles south of the city, offers conventional, condominium-style suites, and specialized office space. This is where some of the city’ largest private employers are based. The Centennial Valley Business Park provides a fantastic portfolio of high-spec business and workspace with an excellent infrastructure.

As for the market outlook, future job growth is estimated at nearly 40 percent over a 10-year period, with the professions with highest growth rates being engineering, IT, management, business services, finance, sales and admin support.

 

Sources:

(1) https://www.bls.gov/regions/southeast/summary/blssummary_louisville.pdf

(2) http://www.bestplaces.net/economy/city/colorado/louisville

(3) https://www.louisvilleco.gov/doing-business/economic-development/community-profile

(4) http://www.towncharts.com/Colorado/Economy/Louisville-city-CO-Economy-data.html

(5) http://www.louisvilleco.gov/business/economic-development/business-assistance-program

(6) http://www.louisvilleco.gov/business/green-business-recognition-program

(7) http://www.louisvilleco.gov/Home/ShowDocument?id=2824

(8) http://www.louisvilleco.gov/business/economic-development/current-redevelopment

(9) http://www.bestplaces.net/economy/city/colorado/louisville

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