Colorado ranked as the No. 5 most innovative state in the U.S. and the achievement comes with perks.
For example, innovation is a principal driver of U.S. economic growth, reports WalletHub, which points toward good news for Colorado’s economic outlook.
“In 2019, the U.S. will spend an estimated $581 billion on research and development — more than any other country in the world and about 25 percent of the world’s total — helping the nation rank No. 6 on the Global Innovation Index,” writes WalletHub in its recently released study of Least & Most Innovative States.
The study compared 50 states and the District of Columbia across 24 indicators of innovation-friendliness, ranging from share of STEM professionals to tech-company density.
The top five states and their corresponding scores out of 100 are:
No. 1 Massachusetts, 72.31
No. 2 Washington, 68.03
No. 3 District of Columbia, 67.47
No. 4 Maryland, 64.06
No. 5 Colorado, 63.35
“Certain states deserve more credit than others for America’s dominance in the tech era. These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries,” notes WalletHub.
Colorado also ranked in the top 10 for six metrics, including tied for No. 1 in eighth-grade math and science performance, No. 5 for share of STEM professionals and share of technology companies, No. 6 for projected STEM-job demand, and No. 7 for venture capital funding per capita.
What makes Colorado so innovative?
WalletHub compared two dimensions across 24 metrics, “Human Capital” and “Innovation Environment.”
Human Capital includes:
- Share of STEM Professionals
- Share of Science & Engineering Graduates
- Projected STEM-Job Demand by 2020
- Scientific-Knowledge Output
- Eighth-Grade Math & Science Performance
- AP Exam Participation
Innovation Environment includes:
- Share of Technology Companies
- R&D Spending per Capita
- R&D Intensity
- Invention Patents per Capita
- IP Services Exports as a Share of All Services Exports
- Business Churn
- Jobs in New Companies
- Net Migration
- Entrepreneurial Activity
- Number of Startups “Accelerated” per Total Number of Start-ups
- Venture-Capital Funding per Capita
- Average Annual Federal Small-Business Funding per GDP
- Industry-Cluster Strength
- Open Roads & Skies Friendly Laws
- Average Internet Speed
- Share of Households with Internet Access
- Adoption of K–12 Computer Science Standards, Note that this metric was chosen because WalletHub considers most future innovation will be tech enabled.
For more information visit https://wallethub.com/edu/most-innovative-states/31890
Originally Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, April 16th, 2019
Boulder is known for its highly educated, technology-oriented citizenry. The city is even ranked No. 1 nationally in the “Bloomberg Brain Concentration Index,” which tracks business formation as well as employment and education in the sciences, technology, engineering, and mathematics.
But does that make Boulder a smart city? Not according to Colorado Smart Cities Alliance (CSCA). CSCA might summarize a smart city as an environment that works well for the people who live in it.
Specifically, CSCA defines a smart city “as an environment that enables all of us to effectively and efficiently live, work, and play. It leverages advancements in science and technology to create an area that is intelligent about strategic and tactical needs and wants of all the constituents.”
Boulder, Longmont, and Fort Collins are among a dozen cities along the Front Range that are founding members of the CSCA. Founded in 2017 by the Denver South Economic Development, CSCA is an open, collaborative, and active platform where stakeholders work to collaborate on continually improving the region’s economic foundations for future generations. The initiative aims to make Colorado a leader in the development of intelligent infrastructure. The goal is to accelerate the development of statewide Smart City initiatives that will improve our play, family, and work lives, from transportation and housing to public safety and the environment.
In ColoradoBiz Magazine, DesignThinkingDenver’s CEO Joe Hark Harold says, smart cities could design systems that save water and energy, reduce traffic and traffic congestion, lessen crime, better prepare for disasters, provide better connections between business and customers, and even manage the lights remotely.
There is urgency behind this movement, driven by an increase of those who live in urban environments. More than three million additional people are expected to move to Colorado by 2050 — an increase of more than 50 percent from 2015, according to the Colorado State Demography Office. Coupled with the growth the state has already experienced, the projected increase has spurred community leaders to collaborate on finding innovative, cost-effective ways to better monitor, manage, and improve infrastructure and public services.
“The Colorado Smart Cities Alliance is advancing policies and technologies that will better equip Colorado residents to live, work, and play in a future that is increasingly being shaped by the complex challenges of urban growth,” says Jake Rishavy, vice president of innovation at the Denver South Economic Development Partnership. “We’re working to create a 21st-century technology infrastructure right here in Colorado that will help to enhance everyone’s quality of life, particularly as our communities continue to grow.”
Among its activities, CSCA hosts regular “Civic Labs” events around the state to share challenges, expertise and solutions. At the Denver Smart City Forum in June, speakers described “smart” technology as having to be about the people who use it and benefit from it, that is, human-centered design and thinking.
“People, not technology, will create smart cities,” said Colorado’s Chief Innovation Officer Erik Mitisek.
To find out more and get involved in the Colorado Smart Cities Alliance, visit http://coloradosmart.city/
For more about the recent forum and DesignThinkingDenver, read http://www.cobizmag.com/Trends/Smart-Cities-Arent/ and http://www.cobizmag.com/Trends/Denver-Digs-Deep-on-Smart-City-Development-and-Implementation/
Boulder stands tall when compared with much larger metropolitan areas that excel in innovation and entrepreneurship.
A report produced by the Boulder Economic Council compares Boulder with leading innovation centers including Silicon Valley, San Francisco, Austin, Boston, Seattle, Portland, Denver and Raleigh. Though these metropolitan areas have a much larger population than Boulder, they were selected as peer communities following input from local focus groups and ranking reviews published by Inc., Forbes, and others.
To get a meaningful comparison, data was normalized for population size and other measures in analysis by CU-Boulder’s Leeds School of Business Research Division.
And the news is good, according to findings published in the Boulder Innovation Venture Report. Boulder compares favorably in key success metrics from education and jobs to quality of life. The area is challenged, however, by a lack of affordable housing to supply its workforce with a place to live.
The Boulder metro area ranks first among the peer communities for the percentage of population 25 and up who hold a bachelor’s degree or higher. Over 60 percent of residents have a bachelor’s degree, which is among the highest in the United States.
In the jobs ranking, the City of Boulder has about 100,000 jobs, a number two or three times larger than almost any other U.S. city comparable in population size. Among those jobs, Boulder has the second highest concentration of science, technology, engineering and math (STEM) occupations among all the peer regions.
Boulder has the second-highest per capita venture capital investment in comparison to the peer communities.
In fact, Boulder is ranked number one nationally in the “Bloomberg Brain Concentration Index,” which tracks business formation as well as employment and education in the sciences, technology, engineering and mathematics.
Drilling down into the creative services industry – advertising agencies and web and app developers – outdoor recreation and food manufacturing, Boulder’s concentration of local businesses was significantly higher than peer communities.
Even in coffee shops the Boulder area percolates, achieving a tie with the Seattle-Tacoma-Bellevue metro for the highest concentration of coffee shops among peer communities. Boulder outranked all the peer cities on restaurants per 1,000 residents.
While any amount of time stuck in traffic is too much, Boulder drivers spend less than all but one of the peer communities with 10 percent of total driving time in congestion. Boston drivers spend the most time driving in congestion.
The challenge for Boulder is housing affordability, according to the report. Measured by median metro area home values, Boulder has the third highest housing costs among its peer communities, behind the San Jose and San Francisco regions and just ahead of Seattle and Boston. But the city is not alone – its peer communities face the same challenge. All but one of the metro areas studied for this report ranked among the 25 most expensive housing markets in the U.S.
For the full Boulder Innovation Venture Report, visit: http://issuu.com/boulderchamber/docs/innovation_venture_report_v26?e=33607933/61913820
Let’s face it, what happens in Boulder affects the rest of Boulder Valley in terms of housing, transportation, economics and myriad other dimensions. If you want to know where your neighborhood is headed, it’s informative to know what Boulder is doing, even if you live in say, Erie. And, if you even casually follow Boulder politics these days, you might be perplexed and concerned by the (seemingly) increasingly bizarre actions coming from Boulder’s City Council.
For a council that purports to support the environment, public safety, and inclusivity, its recent actions don’t seem to match its rhetoric. In my opinion, however, its actions make sense when you understand the true underlying motivations and desires — and to do that, you have to understand Boulder’s CAVE people.
Who are Boulder’s CAVE people and what do they want?
Simply put, I call these people “Citizens Against Virtually Everything” (CAVE), and they seem to have the ear of the majority of the current council. It appears that the plurality of Boulder’s CAVE people arrived in Boulder in the 1960s and ‘70s as students, hippies, ski bums, etc. They decided to stay, bought homes here, and have become relatively well off as Boulder’s home price appreciation outstripped virtually everywhere else in the country. At the same time, they seem not to like the multiple dimensions of growth Boulder has enjoyed over the last several decades; indeed, their strongest desire is apparently to see Boulder return to as it was “back then,” with fewer people, fewer businesses, less crowding, etc. Their apparent goals, then, are to slow, stop, or reverse growth of all kinds in Boulder. Their tactics appear to be to (disingenuously?) cloak themselves in the rhetoric of environmentalism, populism, and liberalism in order to achieve these goals.
Recent examples of CAVE people tactics and their effects:
1. South Boulder Flood Mitigation Plan. The 2013 flood brought the issue of flood mitigation to the front of everyone’s minds in Boulder Valley, but the study of how to best deal with this issue in South Boulder goes back well before then. After nearly a decade of study, and more than $2 million in fees and environmental studies, and extensive public engagement, the City Council had a few feasible flood mitigation plans, one of which (500-Year Variant 2), had the support of the University of Colorado (the property owner), the city’s Water Resources Advisory Board, and general public. One would think, then, that it would be an easy decision for the City Council to support. One, however, would be wrong.
Recently, the Boulder City Council voted to proceed with a different flood mitigation plan, one that is opposed by CU, disregards expert testimony, the preferences of the city’s Water Resources Advisory Board, and general public sentiment.
Why would the council disregard science, experts, reason, common sense and nearby residents? Using the lens of CAVE people logic, it may be because they believe that taking a position in opposition to all of these things will greatly slow the process of CU developing that land, which fits the goals of “slow, stop, reverse.”
2. Sales Tax Revenue. Cities like Boulder depend on sales tax revenue as an important component of their budgets. Earlier this year, Boulder reported a $4 million budget shortfall, attributable primarily to flattening sales tax in the city — at a time when nearby cities are enjoying double digit growth in their sales tax revenues. Members of the City Council held a study session on the topic on July 10 in which some members declared that they apparently want fewer visitors to Boulder (both tourists and locals from neighboring cities). They expressed these opinions even with the knowledge that locals already visit downtown Boulder an average of seven times per month, but tourists spend several times what locals do per visit.
Why, in a city that prides itself on being welcoming and at a time when sales tax revenues are falling, would members of council declare an apparent desire for fewer tourist (and accompanying tax dollars)?
3. Increased housing density. Council members often voice their support for efforts to provide inclusive housing, reduce Boulder’s carbon footprint, and improve our city’s environmental sustainability; however, when it comes to increased density — the thing that would arguably go the farthest toward achieving those aspirations — the council’s words do not match their deeds. Boulder’s draconian housing restrictions, including the 1 percent cap on annual residential growth (which we’ve never actually hit), blanket height restrictions, severe occupancy limits, among other measures, has forced our workforce to largely live outside the city. This, in turn, causes the more than 60,000 daily commutes into and out of Boulder. By simply ameliorating some of these harsh policies, and allowing a modicum of sustainable and smart development, Boulder could include more of its workforce within city limits and could considerably lessen its environmental impact.
Why, then, has the city actively resisted efforts that would address these critical housing and environmental issues? One possibility — CAVE people logic: if it is extremely difficult to add housing density, not only will it slow population growth, it will force workers into longer commutes and growing frustration. Over time, businesses will relocate to areas more accessible to their workforce, and there will be fewer people, fewer jobs, less congestion… like it was “back then.”
What’s to come?
Rather than building a bridge to the future, Boulder’s CAVE people seem intent on digging a trench to the past. In fact, their efforts seem to be achieving results — not only did Boulder run a budget deficit, but its population actually decreased between 2016 and 2017. There is no stasis for cities — they are either growing or dying. It seems the CAVE people are succeeding at pushing their agenda of “slow, stop, reverse,” through council. And if they win, all of us who are truly for the environment, public safety, and inclusivity will lose.
Jay Kalinski is broker/owner of Re/Max of Boulder.