Dear EDC Investors, Partners and Friends,
Metro Denver EDC is ready for an exciting summer as we come off a successful trip to Dublin in partnership with Denver International Airport (DEN), where we cohosted a delegation in celebration of Aer Lingus’s historic inaugural direct flight from the Emerald Isle to Denver. Thank you again to the generous sponsors and engaged delegates that made the trip possible! On a related note, we want to congratulate Turkish Air and DEN on the next inaugural direct flight, departing from Istanbul to Denver on June 11. These international direct flights are so important to creating and reinforcing new global investment opportunities into the Metro Denver region!
In addition to this great news, we’d like to invite you to a combined Executive Committee and Board of Governors Happy Hour mixer on June 26, from 3 – 5PM. Be on the lookout for more details soon. We look forward to networking and building relationships with our new and long-standing investors.
Turning to economic news, inflation eased slightly in April. Price increases were lower than expected, suggesting that inflation has resumed its downward trend, following two consecutive months of rising inflation rates. The US Consumer Price Index registered inflation at 3.4 percent in April, down from a rate of 3.5 percent in March. Here are three other pieces of information we want you to be aware of:
- The cost of living in Denver was 7.6 percent higher than the national average in the first quarter of 2024, according to the Cost-of-Living Index (COLI), compiled by the Council for Community and Economic Research. Throughout 2023, Denver’s cost of living was 10.3 percent higher than the national average.
- Nearly 18.5 million passengers passed through Denver International Airport in the first quarter of 2024, a 7.5 percent increase from the same time last year, or an increase of nearly 1.3 million passengers.
- According to recent data released from global job-search engine Indeed, job postings have decreased by 28% since 2021, but certain skilled trades and healthcare positions remain in high demand. Searches for “registered nurse” topped the list, highlighting ongoing labor shortages in healthcare. The trend towards “skills-first” hiring is notable, with employers valuing specific skills over formal education, especially for roles like mechanics and electricians.
If you have any questions or comments about the monthly economic indicators or would like to receive additional information, reach out to our VP of Economic Development and Corporate Attraction, Daniel Ryley.
Thank you for your ongoing support, and we look forward to working with you to promote a strong and economically competitive Metro Denver.
Sincerely,
Raymond H. Gonzales
President of Metro Denver EDC
Executive Vice President of Denver Metro Chamber of Commerce
