October 11, 2024 – Denver, CO – Over this past week, the Denver Metro Chamber of Commerce and Metro Denver Economic Development Corporation (Metro Denver EDC) successfully hosted its 20th annual Site Selectors tour, sponsored by Broe Real Estate Group and OmniTRAX. The feedback dinner event convened over 700 attendees, including Chamber investors, elected officials and top industry leaders. The event provided key insights into the region’s economic health and challenges. This year’s dinner featured candid feedback from seven prominent domestic and international Site Selectors, offering their expert perspectives on the region’s economic landscape and future opportunities.
As Metro Denver continues to compete not just against other U.S. markets but also internationally, Site Selectors – essentially “professional location scouts”—play a pivotal role in assessing the region’s ability to attract business expansion and relocation. By evaluating factors such a local talent, resource availability, and regulatory environment, these experts provide crucial insights for maintaining Metro Denver’s competitive edge both domestically and globally. The dinner served as the conclusion to a comprehensive three-day program designed to give these experts an in-depth understanding of the Metro Denver region’s unique offerings and opportunities.
Raymond Gonzales, President of the Metro Denver Economic Development Corporation, kicked off the event, highlighting the program’s success and paying tribute to the “Godfather of Regionalism,” Tom Clark, founder of the Metro Denver EDC. Kourtney Geers, Editor-in-Chief of the Denver Business Journal, moderated a thought-provoking panel with the Site Selectors, where valuable insights were shared on Metro Denver’s competitive advantages, challenges, and potential for growth. A central takeaway was that corporations do not focus on city boundaries—they care about the entire region. Metro Denver’s commitment to regionalism was praised as a key strength that distinguishes it from both U.S. and international markets.
Top messages from the panel, included:
- The availability of talent at all levels is the most critical factor when making market recommendations. The Site Selectors commended Colorado on its ability to import highly skilled talent, but emphasized investing in the talent born here as well.
- A key challenge facing the market is affordability, which is complicating labor issues. If workers at lower-income points cannot afford to live here, that could create long-term systemic issues in the economy. The Site Selectors applauded local policymakers for being aware of the issue and working towards solutions.
- Along those same lines, the Site Selectors also encouraged Metro Denver to understand that it is OK to not be the most affordable place. Colorado needs to be proud of its identity and not to try to pivot to be the “low-cost leader.” This market is not the right fit for every business, but it is a place of innovation, entrepreneurship and growth. “Be proud of what you’ve got going on,” was a common refrain from the panel.
- Corporations don’t care about municipal borders—they care about the region as a whole. This message on regionalism should be more prominent, as it represents one of Metro Denver’s greatest strengths when competing against both domestic and international markets.
“As one of the largest infrastructure and freight short line railroad firms, we understand location dynamics and access to specific resources – like reliable and safe transportation – are fundamental to a business’s success,” said Dean Piacente, Chief Executive Officer for OmniTRAX, Inc. “The Site Selector panel delivered very thoughtful feedback to industry leaders and policymakers in the audience about how items such as infrastructure factor into corporate decisions. That is something we need to hear, because we have to invest in ourselves if others are going to invest in us.”
“We were excited to have given Site Selectors a front-row seat to everything Metro Denver brings to the table,” said J. J. Ament, Chief Executive Officer of the Denver Metro Chamber of Commerce. “This event provides a distinct opportunity to bring together public and private officials, creating a platform for real change. It’s not just about celebrating our strengths but also addressing the hard truths about our local and regional market. Honest feedback from professionals like these helps us pinpoint what we’re doing well and where we need to improve, so we can drive meaningful progress.”
Throughout the three-day program, Site Selectors participated in numerous site visits and informational briefings, covering key sectors such as financial services, life sciences and aerospace. Local economic development agencies from the region presented on the unique offerings of their cities. The Denver Metro Chamber is committed to serving the economic interests of the larger Front Range region, and a core philosophy behind this program is that “if anyone wins, everyone wins” when attracting new business to the market.
The Denver Metro Chamber is a privately funded, membership-driven organization. Any business interested in participating in the region’s growth can join and be part of this impactful network. The Chamber is committed to the Economic Empowerment of Every Coloradan and works to achieve it by advancing the economic vibrancy of the Metro Denver region through strategic growth and collaboration, where businesses of all sizes thrive. Join our mission by visiting: www.denverchamber.org/join