Heads Up Aug. 27, 2021

The city’s Community Vitality Department, working with RRC Associates, recently completed a survey of Boulder primary employers to gauge business plans for expansion and perceptions about the city’s business climate and to identify current challenges and concerns. This survey, conducted in May 2021, updated findings from previous surveys. After being delayed by the pandemic, the online survey was completed by 77 businesses, approximately 10% of Boulder’s primary employers, and represent a mix of businesses located throughout the city. Primary employers are businesses of any size in industries such as aerospace, bioscience, manufacturing, cleantech, and technology that generate most of their revenue from outside Boulder County. RRC Associates is a national marketing research firm based in Boulder.

The survey findings are summarized in an executive summary. Highlights include:

• Primary employers are generally satisfied with Boulder as a place to do business and mostly optimistic about Boulder’s economic future. Perceived strengths of Boulder include availability of recreational and other amenities, proximity to the university, reputation for innovation and entrepreneurship, internet connectivity, access to markets and customers and an inclusive, welcoming environment.
• Growing areas of concerns for primary employers include the cost of doing business, availability and cost of space, ability to find and retain employees (a common concern nationally) and availability of workforce housing and transportation options. Nearly one-fifth of primary employers expect to leave Boulder in the next one to three years, mostly due to the cost and lack of space deemed suitable for their business’ plans.
• Although less impacted by the pandemic than restaurants, retailers, and personal services providers, nearly three-fourths of primary employers experienced at least some negative impact. Manufacturers were more likely to experience significant negative impacts than IT and other industries conducive to remote work.

• As expected, telecommuting and remote work increased significantly during the pandemic and most primary employers expect to continue offering at least some off-site working options post-pandemic.
• Over half of primary employers expect to increase staff in the next few years and most expect to occupy a similar or larger space. Two-thirds of primary employers lease the space they occupy in Boulder; of those, only 40% expect to renew their lease.

Findings from the survey, along with other research data, will help inform economic vitality strategies and economic recovery efforts.

For more information, contact Yvette Bowden, assistant city manager and director of Community Vitality at bowdeny@bouldercolorado.gov, or Jennifer Pinsonneault, senior program manager for economic vitality in the Community Vitality Department, at pinsonneaultj@bouldercolorado.gov.

Regards,
Nuria