Having applied to take a dual master’s degree at University of Colorado Denver, Spencer Schar takes a keen interest in the local economy, which has seen rapid growth in its tech and aerospace industries in particular. With government contracting a staple throughout the region and an Airforce Academy in Colorado Springs, Denver is attracting newcomers from far and wide, not only for its job opportunities but also for its unparalleled quality of life.
The assets and expertise in military aerospace operations available in Colorado recently attracted the attention of the National Aeronautics and Space Administration (NASA). Although there is no official NASA space station in Colorado, the government agency routinely utilizes the state’s contractors on leading aerospace projects, having awarded several Coloradan companies lucrative contracts to develop private space stations. In addition, NASA has also provided extensive funding for aerospace education and research at state institutions across the state.
As small companies and fresh talent moved into Colorado to provide materials, support, and skills, this influx of start-ups and expertise spawned a collaborative ecosystem. Currently, Colorado ranks among America’s top states for entrepreneurship. As of 2021, 60% of the state’s aerospace companies employed 10 or less employees according to Site Selection magazine. Fast forward to today, with those same companies working alongside industry titans, including the likes of Raytheon Technologies, Northrop Grumman, Lockheed Martin, and Boeing.
For more than a decade, Colorado’s aerospace industry has experienced tremendous growth, Colorado Space Coalition data reveals. Over the past five years, the state’s aerospace employment increased by 30%, with Colorado demonstrating a growth rate almost 12% higher than the rest of the United States.
Of the top five aerospace states in America today, Colorado boasts the greatest percentage of residents with a bachelor’s degree or higher, at over 42%. Colorado ranks as America’s second-highest state on the science and technology index, as well as the second-highest for its concentration of trained engineers.
Today, nine of America’s top aerospace contractors have significant operations in Colorado. The state is also home to several major U.S. Department of Defense facilities, with its universities counted among the best in the world for aerospace engineering. In addition to the various military academies, the University of Colorado Boulder ranks among America’s top five U.S. universities in terms of quantity of astronaut alums, as well as being the world’s top NASA-funded university.
Established in 1985, the United States Space Command is situated at Peterson Space Force Base in Colorado Springs. Although the Air Force announced plans to relocate the Space Command headquarters to Huntsville, Alabama, federal agencies and Coloradan lawmakers are working together to investigate the decision, hoping to keep the command center in the state.
Military installations, start-up companies, and defense-focused businesses form the backbone of Colorado’s aerospace industry. In 1956, defense and aerospace company Lockheed Martin set down roots in Denver at the request of the U.S. Air Force, which sought to locate its new rocket inland where it would be less vulnerable to attack. In the same year, Ball Aerospace began building pointing controls for military rockets. Today, the Boulder-based organization manufacturers spacecraft, instruments, and components for civil space, national defense, and commercial space applications.
With a $5.3 billion annual payroll, Colorado’s aerospace industry alone supports more than 240,000 direct and indirect jobs, as well as a roster of more than 1,000 companies and suppliers. Having found its roots in aerospace relatively early on, Colorado is home to multiple critical U.S. Air Force operations, including the U.S. Army Forces Strategic Command, the U.S. Space Command, the U.S. Northern Command, the North American Aerospace Defense Command, and the U.S. Army Space and Missile Defense Command.