Industry Cluster Profile: Healthcare and Life Sciences
Industry Overview
The healthcare and life sciences cluster includes a large and diverse group of companies that encompass
healthcare services, medical equipment and supplies, medical devices and diagnostics, and hospital and medical
service plans. More specifically, the cluster includes companies that provide preventive, curative, and
rehabilitative services offered by healthcare providers, medical and specialty hospitals, kidney dialysis centers,
other healthcare organizations, and centers focused on family planning, outpatient mental health and substance
abuse, diagnostic imaging, and emergency care. Additionally, companies that provide nursing care, assisted
living, and long-term care services for individuals, families, and the elderly are also included. Companies in the
healthcare and life sciences cluster also engineer, research, design, and manufacture medical equipment used in
the healthcare industry. Further, companies that provide hospital, medical, and other health service insurance
plans to enrollees or members are also included.
The healthcare and life sciences cluster has proven to be resilient to economic cycles, which continues to drive job
growth as a result of several key trends. Colorado’s health insurance landscape is undergoing rapid change with
an estimated 500,000 Coloradans expected to gain insurance through the Affordable Care Act, which will drive
further collaboration and cooperation among various healthcare and life sciences organizations across the region
for specialized services, research, workforce, and facilities. Another contributing factor is the aging population,
which is increased demand for services. Further, the digital healthcare infrastructure, created by electronic health
records and software solutions, has greatly improved the way patient care is delivered and compensated.
The Denver South region offers an emerging digital health community. Founded in July 2012 by the Denver
South Economic Development Partnership and Innovation Pavilion, PrIME Health Collaborative is a growing
statewide community of 800+ health care executives, physicians, technologists, academics, entrepreneurs, and
investors dedicated to improving health and lowering healthcare costs through the commercialization of digital
health technologies. PrIME Health is a resource ecosystem for digital health—the convergence of the digital and
genetics revolutions with bioscience, healthcare and wellness, and information technology-software. In 2014,
PrIME Health held a number of important events showcasing the Digital Health Corridor, including a first-of-its
kind $150,000 Digital Health Challenge. More information is available at www.primehealthco.com.
The Denver South region1 is home to a growing cluster of innovative healthcare and life sciences companies that
are changing the industry, with support from leading research institutions, scientific talent, and unique assets. The
region’s aggregation of scientific and entrepreneurial talent, life science-focused professional services, and
investment capital supports thriving healthcare and life sciences companies. With nearly 17,370 healthcare and
life sciences workers in approximately 1,650 companies across the Denver South region, the healthcare and life
sciences cluster offers numerous opportunities in both academic and clinical discovery and is one of the fastest
growing industry clusters in the region. In fact, employment growth in the region’s healthcare and life sciences
cluster averaged 10.9 percent per year over the past five years, compared with a 3.2 percent and a 1.4 percent
increase in the nine-county Metro Denver and Northern Colorado region2 and nationwide, respectively.
2014 Industry Highlights
Key Company Announcements
The Denver South region is a key location for healthcare and life sciences companies to grow and expand.
Notable company announcements in 2014 included:

Sky Ridge Medical Center celebrated the redevelopment of the Women’s Hospital, which now spans two
floors in a world-class facility. The new facility has 62 post-partum rooms, four C-section suites, eight
high-risk antepartum rooms, six private amenity suites, and a six bay triage area with private rooms. The
hospital has additional service expansions slated for completion in mid-2015.
1
The Denver South region consists of zip codes 80111, 80112, 80124, 80126, 80129, 80130, 80134, and 80237.
The nine-county Metro Denver and Northern Colorado region consists of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson, Larimer,
and Weld Counties.
2
April 2015 | Page 1
Industry Cluster Profile: Healthcare and Life Sciences
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Sky Ridge Medical Center opened its new Advanced Wound Care Center, which includes a suite with
two hyperbaric oxygen chambers. The Center will expedite recovery for patients suffering from painful,
otherwise slow-to-heal wounds. Between the two chambers, Sky Ridge can treat about eight patients
daily.
Children’s Hospital Colorado’s South Campus celebrated its one-year anniversary in December 2014.
The 180,000-square-foot facility is the only pediatric urgent care center in South Metro Denver and
provided more than 41,550 outpatient specialty visits over the last year for services ranging from
pulmonary and neurology to orthopedics and gastroenterology.
MorningStar Senior Living broke ground on a five-acre senior residence complex in Lone Tree. The $55
million project includes 190 units, which are designed for independent living and assisted living/memory
care. The facility will include private theaters, bistros, fine dining, activities programs, transportation,
concierge service, pool, exercise facility, and a courtyard.
Wind Crest plans to expand its Highlands Ranch retirement community. The $60 million expansion will
include three new residential buildings, with the first opened in December 2014 and the second opening
in the spring of 2015.
Allosource donated bone allografts to surgeons from Cincinnati Children’s Hospital Medical Center who
traveled to India to perform free surgeries for children afflicted with spine and upper extremity
deformities. The donated bone grafts were used in the operation of six children with complex spine
deformities.
The FDA approved Centennial-based Cochlear Americas’ one-of-a-kind Aqua+ accessory, the only
waterproof behind-the-ear solution for cochlear implant recipients. The device allows recipients to swim
underwater for up to two hours.
Baxter International Inc. acquired SuppreMol GmbH for $225 million. SuppreMol is a privately held
biopharmaceutical company based in Germany developing treatment options for autoimmune and allergic
diseases. The acquisition will give Baxter access to SuppreMol’s early-stage development portfolio of
novel biologic immunoregulatory therapeutics.
Cross-Cluster Convergence
The Denver South region is characterized by its network of collaboration and innovation centers that lead to
cross-cluster convergence. The healthcare and life sciences cluster combines these regional assets to strengthen
partnerships and enhance growth opportunities across industries such as digital health, IT-software, and
aerospace.
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Centennial-based Thinklabs designed a new digital stethoscope, which is compatible with iPhone and
iPad technology. The Thinklabs One stethoscope is Bluetooth compatible for wireless transmission, has
an earphone jack that is compatible with different headphone models, and has volume control to enhance
the sound up to 100 times louder than the traditional model.
Centennial-based AlloSource signed a Space Act Agreement with the National Aeronautics and Space
Administration (NASA) and the Jet Propulsion Laboratory (JPL) to collaborate on microbial research.
AlloSource will leverage technologies developed by NASA/JPL for assembly and launch operations of
various Mars missions, including rapid molecular microbial burden measurement and genetic inventory
cataloging to advance microbial research in tissue processing.
Healthcare and Life Sciences Economic Profile
The healthcare and life sciences cluster includes offices of physicians, dentists, chiropractors, optometrists, mental
health practitioners, physical and speech therapists, podiatrists, and other health practitioners. The cluster includes
hospitals ranging from general medical, surgical, and psychiatric to substance abuse and specialty care, and
includes centers focused on family planning, outpatient mental health and substance abuse, kidney dialysis,
April 2015 | Page 2
Industry Cluster Profile: Healthcare and Life Sciences
diagnostic imaging, and emergency care. Companies focused on nursing care, assisted living, and long-term care
and businesses that manufacture ophthalmic goods and medical equipment rental services are also included.
Companies in the healthcare and life sciences cluster also engineer, research, design, and manufacture medical
equipment used in the healthcare industry. Further, companies that provide hospital, medical, and other health
service insurance plans to enrollees or members are also included. The healthcare and life sciences cluster consists
of 41, six-digit North American Industry Classification System (NAICS) codes.
Healthcare and Life Sciences Employment and Company Profile, 2014
Denver South
17,370
United States
15,942,040
Number of direct companies, 2014
1,650
1,138,010
One-year direct employment growth, 2013-2014
6.4%
1.2%
Five-year direct employment growth, 2009-2014
67.6%
7.4%
Avg. annual direct employment growth, 2009-2014
10.9%
1.4%
7.5%
11.0%
Direct employment, 2014
Direct employment concentration
Sources: Dun & Bradstreet, Inc. Marketplace database, July-Sept. 2008-2010; Market Analysis Profile, 2011-2014; Development Research Partners.
Healthcare and Life Sciences Employment
The Denver South region’s healthcare and
life sciences employment (17,370 workers)
rose 6.4 percent in 2014, compared with the
previous year’s level, adding nearly 1,050
new jobs over the same period. National
employment levels increased 1.2 percent
over-the-year. Healthcare and life sciences
companies employed 7.5 percent of the
Denver South region’s total employment
base and roughly 12 percent of all healthcare
and life sciences employment in the ninecounty region is located in the Denver South
region.
Healthcare & Life Sciences
Number of Employees Growth Rate
16%
14%
12%
10%
8%
6%
4%
2%
0%
2009
2010
2011
Denver South
2012
2013
United States
2014
Avg Annual
Growth
Approximately 1,650 healthcare and life
Source: Dun & Bradstreet, Inc., Marketplace database, July-Sept. 2007-2010; Market Analysis Profile, 2011-2014.
sciences companies operated in the Denver
South region in 2014. More than 78 percent of the region’s healthcare and life sciences companies employed
fewer than 10 people, while 0.7 percent employed 250 or more.
April 2015 | Page 3
Industry Cluster Profile: Healthcare and Life Sciences
Healthcare & Life Sciences Employment by County, 2014
Denver
4.0%
Douglas
41.6%
Arapahoe
54.5%
Sources: Market Analysis Profile, 2014; Development Research Partners.
Healthcare & Life Sciences Employment by Industry Sector,
2014
Surgical &
medical
instruments mfg.
Kidney dialysis & 8.8%
home health care
services
9.0%
Nursing care
facilities
8.2%
All other health
services
5.7%
Medical & dental
laboratories
1.3%
Other medical
devices mfg.
1.1%
Hospital &
medical service
plans
10.4%
General &
medical, surgical,
& psychiatric
hospitals
18.8%
Physician offices
& clinics
36.7%
Sources: Market Analysis Profile, 2014; Development Research Partners.
Major Healthcare and Life Sciences Companies
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AlloSource
www.allosource.org
American Medical Response
www.amr.net
Baxter Corporation
www.baxter.com
Brookdale Senior Living
www.brookdale.com
CareFusion (formerly Vital Signs)
www.carefusion.com
Catholic Health Initiatives
www.catholichealthinit.org
Centura Health
www.centura.org
Children’s Hospital Colorado
www.childrenscolorado.org
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Delta Dental of Colorado
www.deltadentalco.com
HCA-HealthONE LLC
www.healthonecares.com
Highlands Behavioral Health System
www.highlandsbhs.com
Kaiser Permanente Colorado
www.kaiserpermanente.org
Life Care Centers of America
http://lcca.com
Medtronic Surgical Technologies
www.medtronic.com
Optum (formerly Connextions)
www.optum.com
Sandhill Scientific
www.sandhillsci.com
April 2015 | Page 4
Industry Cluster Profile: Healthcare and Life Sciences
Major Healthcare and Life Sciences Companies Cont’d
 Cochlear Americas
www.cochlearamericas.com
 Colorado Center for Reproductive Medicine
www.colocrm.com
 ConMed Corporation
www.conmed.com
 Correct Care Solutions, LLC
www.correctioncare.com
 DaVita Inc.
www.davita.com
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SteriTec Products Inc.
www.steritecproducts.com
United Healthcare
www.uhc.com
Vi at Highlands Ranch
www.viliving.com
Wind Crest, Erickson Living
www.ericksonliving.com
Zynex Medical, Inc.
www.zynexmed.com
Healthcare and Life Sciences Workforce Profile
Many companies choose locations because of
the available workforce. With nearly half of
the nine-county region’s 3.6 million residents
under the age of 35, employers can draw from
a large, young, highly educated, and
productive workforce. Of the region’s adult
population, 41.2 percent are college graduates
and 90.5 percent have graduated from high
school. The state has the nation’s second-most
highly educated workforce as measured by the
percentage of residents with a bachelor’s
degree or higher.
The attractiveness of the region draws new
residents through migration. The region’s
population is expected to grow 53.3 percent
from 2010 to 2040, driving a 36.3 percent
increase in the region’s labor force over the
same period. It is important to note the
changing composition of the workforce supply
as the baby boomers begin to retire, which will
pose implications for businesses whose
employee pool includes significant numbers of
these workers.
Educational Attainment of Metro Denver and Northern
Colorado's Population Age 25 and Older
3.9%
Less than 9th Grade
5.6%
15.3%
9th to 12th Grade, No
Diploma
20.0%
High School Graduate
(includes equivalency)
Some College, No Degree
25.9%
Associate Degree
Bachelor’s Degree
21.7%
7.7%
Graduate or Professional
Degree
Source: U.S. Census Bureau, 2013 American Community Survey.
3,000,000
Metro Denver and Northern Colorado's Labor Force Projections
by Age
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2010
16-24
25-34
2020
35-44
2030
45-54
55-64
2040
65+
Source: Colorado Division of Local Government, State Demography Office.
April 2015 | Page 5
Industry Cluster Profile: Healthcare and Life Sciences
The Denver South region’s healthcare and life
sciences industry employs nearly 17,370 people
and includes a large pool of talented, welleducated, and highly skilled workers.
Compared with the age distribution across all
industries, the healthcare and life sciences
cluster in the nine-county region has a larger
share of employees that are between the ages of
25 and 44 years old and also between the ages
of 55 and 64 years old.
Metro Denver and Northern Colorado's Distribution of
Employment by Age
25%
20%
15%
10%
5%
The healthcare and life sciences workforce
0%
supply consists of four main components: those
16-24
25-34
35-44
45-54
55-64
65+
currently working in the industry; those doing a
Healthcare & Life Sciences
All Industries
similar type of job in some other industry; the
Source: Provided by Arapahoe/Douglas Works! QCEW Employees, Non-QCEW Employees, Self Employed, &
Extended Proprietors - EMSI 2014.4 Class of Worker.
unemployed; and those currently in the
education pipeline. The Metro Denver and Northern Colorado Occupation & Salary Profile below includes the 10
largest healthcare and life sciences occupations in the region. For these 10 largest occupations, the chart details
the total number of workers employed in that occupation across all industries, the number of available applicants
that would like to be working in that occupation, the number of recent graduates that are qualified for that
occupation, and the median and sample percentile annual salaries.
Wages
The 2013 average annual salary for a healthcare and life sciences worker in the nine-county region was $57,590,
compared with the national average of $55,550. Total payroll for the healthcare and life sciences cluster in the
nine-county region reached nearly $8.1 billion in 2013.
Metro Denver and Northern Colorado Healthcare and Life Sciences Occupation & Salary Profile, 2014
10 Largest Healthcare and Life
Sciences Occupations
in Metro Denver and Northern
Colorado
1. Registered nurses
2. Nursing assistants
3. Medical assistants
4. Receptionists & information
clerks
5. Home health aides
6. Clinical, counseling, & school
psychologists
7. Personal care aides
8. Medical secretaries
9. Dental assistants
10. Secretaries & administrative
assistants, except legal, medical,
& executive
Total
Working Number of
Across All Available Number of
Industries Applicants Graduates
(2014)
(2014)
(2013)
31,699
374
1,938
Median
Salary
$69,722
10th
Percentile
Salary
$50,523
25th
Percentile
Salary
$58,490
75th
90th
Percentile Percentile
Salary
Salary
$83,117
$93,350
12,714
1,076
1,504
$28,163
$22,568
$25,085
$32,469
$36,504
7,127
779
1,365
$34,133
$26,666
$29,765
$38,563
$44,325
16,292
2,349
0
$30,139
$20,571
$25,189
$36,338
$43,618
10,075
477
209
$23,338
$18,117
$20,342
$28,288
$32,760
6,595
17
2,261
$55,744
$41,101
$48,256
$65,770
$72,821
20,769
572
182
$20,592
$17,139
$18,574
$22,714
$24,274
5,762
352
173
$34,278
$24,856
$29,120
$39,936
$46,550
4,554
262
540
$37,794
$26,333
$31,304
$45,718
$54,891
49,442
650
71
$36,005
$23,566
$29,037
$43,992
$51,938
Notes: The number of available applicants is a point-in-time measurement of the number of people who have registered in Colorado’s workforce development system’s statewide
database, Connecting Colorado, as being able and available to work in a particular occupation. Results should be interpreted with caution since registration in Connecting Colorado
is self-reported. In addition, the skills rubric may assign up to four occupation codes for each registrant. Therefore, the number of available applicants could be inflated. Source:
Provided by Arapahoe/Douglas Works!; QCEW Employees, Non-QCEW Employees, Self Employed, & Extended Proprietors - EMSI 2014.4 Class of Worker.
April 2015 | Page 6
Industry Cluster Profile: Healthcare and Life Sciences
Education & Training
Colorado’s higher education system provides an excellent support system for businesses in the region. There are
28 public higher education institutions in Colorado, of which seven four‐year and six two‐year public institutions
offering comprehensive curricula are located in the nine‐county region. In addition, there are more than 100
private and religious accredited institutions and nearly 340 private occupational and technical schools offering
courses in dozens of program areas throughout the state. Although not exhaustive, a list of the major, accredited
educational institutions with the greatest number of graduates for each of the 10 largest healthcare and life
sciences occupations in the nine-county region are included below. A directory of all higher education institutions
with corresponding websites may be accessed via http://highered.colorado.gov.
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Aims Community College
www.aims.edu
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Metropolitan State University of Denver
www.msudenver.edu
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University of Colorado
Denver
www.ucdenver.edu
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Concorde Career College – Aurora
www.concorde.edu
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Pima Medical Institute – Denver
Campus
www.pmi.edu
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University of Northern
Colorado
www.unco.edu
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Emily Griffith Technical College
www.emilygriffith.edu
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Regis University
www.regis.edu
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Front Range Community College
www.frontrange.edu
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University of Colorado Boulder
www.colorado.edu
Key Reasons for Healthcare and Life Sciences Companies to Locate in the Denver South
Region and the Surrounding Nine-County Region
1. A robust culture of health
 Douglas County ranked as the second-healthiest county in Colorado based on a combination of health
outcomes including length and quality of life. Douglas County also ranked first in health factors ranging
from clinical care and healthy behaviors to social and economic factors and the physical environment.
(University of Wisconsin Population Health Institute, 2013)
 Nearly 30 public and private golf courses are located in the South Metro Corridor and world-class ski
resorts are located within 100 miles of the Corridor. (Denver South Economic Development Partnership)
 Metro Denver ranked as the fourth-fittest metro area in the nation in 2014. Denver’s high percentage of
residents participating in physical activity and low obesity and cardiovascular disease rates contributed to
its high rank. (American College of Sports Medicine, 2014)
 Colorado is the leanest state with the nation’s lowest rate of adult obesity (21.3 percent). (Trust for
America’s Health, 2014; Robert Wood Johnson Foundation, 2014)
 Colorado ranked as the sixth-healthiest state for adults ages 65 years and older. Colorado’s seniors have
the second-lowest prevalence of obesity, high rates of physical activity, low percentage of hospital deaths,
and low premature death rate. (United Health Foundation, 2014)
2. The ability to recruit and retain technical and scientific employees
 Two of the 10 best places in Colorado for job seekers were in Denver South—Centennial and Parker. The
study examined the cost of living, the unemployment rate, and the growth in the number of working-age
people in each city. (NerdWallet, 2013)
 Metro Denver ranked 11th among U.S. life science clusters and received top 10 rankings in life science
employment concentration, establishment concentration, and employment growth. (Jones Lang LaSalle,
2014)
April 2015 | Page 7
Industry Cluster Profile: Healthcare and Life Sciences
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Colorado ranked among the second tier of bioscience states and the state ranked among the top tier in
bioscience-related venture capital investments since 2009, totaling $1.1 billion. (Battelle Memorial
Institute, 2014)
Colorado has 10 higher education institutions with bioscience programs. Biological sciences graduate
programs at the University of Colorado Boulder (CU-Boulder), Colorado State University (CSU), and the
University of Colorado Denver ranked within the nation's top 100 in 2014. (U.S. News & World Report,
2014)
Colorado ranked fourth in the number of scientists and engineers as a share of all occupations in 2012.
(National Science Foundation, 2014)
3. A regional healthcare and life sciences hub, with exceptional facilities and unique assets
 Sky Ridge Medical Center received high scores in hospital safety in The Leapfrog Group’s 2014 survey
of more than 2,600 U.S. hospitals. Sky Ridge received an “A” grade, which is based on 28 measures of
patient safety, including medical errors and infection rates. (The Leapfrog Group, 2014)
 U.S. News & World Report’s 2014-2015 “Best Hospitals” named Sky Ridge Medical Center to its topranked healthcare facilities list. Sky Ridge Medical Center scored high in patient safety and was ranked in
three other high-performing specialties: gastroenterology and GI surgery, geriatrics, and orthopedics. The
facility tied Parker Adventist Hospital and Presbyterian-St. Luke’s Medical Center as the seventh-best
hospitals in Metro Denver. (U.S. News & World Report, 2014)
 The Colorado Center for Reproductive Medicine (CCRM) is one of the nation’s leading fertility clinics.
Two-thirds of CCRM’s patients travel to Colorado from other states and countries for treatment and it is
internationally recognized for success rates and scientific achievements in the field of reproductive
endocrinology.
 Rocky Vista University’s College of Osteopathic Medicine (RVUCOM) in Parker is one of only two
medical schools in Colorado. Founded in 2006, RVUCOM has among the highest board scores of any
osteopathic medical school in the nation and a 100 percent match rate including some of the nation’s top
residency programs. (Rocky Vista University College of Osteopathic Medicine, 2014)
 Children’s Hospital Colorado (CHC) ranked as the sixth-best children’s hospital in the nation with six of
its specialty areas also in the top 10 in their respective categories. CHC was also named to the U.S. News’
Honor Roll and ranked fifth on Parents magazine’s “10 Best Children's Hospitals in America” list. (U.S.
News & World Report, 2014; Parents, 2014)
4. A pro-business environment and competitive tax structure
 Colorado's simplified corporate income tax structure based on single-factor apportionment allows
companies to pay taxes based solely on their sales in the state. Along with few regulatory burdens,
Colorado's corporate income tax rate of 4.63 percent is one of the lowest and most competitive tax
structures in the nation. (State of Colorado; The Tax Foundation)
 Manufacturing equipment used in clean room operations is exempt from state sales tax. (Exemption
clarified in Colorado House Bill 1277 (2007))
 Forbes ranked Metro Denver fourth among the “Best Places for Business and Careers” in 2014. Four
other Colorado metropolitan areas were included on the list. The Fort Collins metro area ranked fifth
overall, Greeley ranked 20th, Boulder ranked 23rd, and Colorado Springs ranked 29th. (Forbes, 2014)
 Colorado ranked as the No. 8 small-business-friendly state in the nation. Fort Collins (24th) and Denver
(28th) ranked among 84 cities in the country. (Thumbtack.com, 2014; Ewing Marion Kauffman
Foundation, 2014)
5. An overall better quality of life
 Centennial ranked among the top 15 in MONEY Magazine’s 2014 list of the “Best Places to Live.” Castle
Rock (fourth) and Boulder (23rd) were also named to the list’s top 50. (MONEY Magazine, 2014)
April 2015 | Page 8
Industry Cluster Profile: Healthcare and Life Sciences
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NerdWallet named Highlands Ranch, Lone Tree, and Parker among the top 10 “Best Towns in Colorado
for Young Families.” The cities were touted for their quality education, recreational opportunities,
creative and innovative energy, and affordable housing. (NerdWallet, 2014)
Douglas County ranked among the “10 Best Counties in America” in 2014. The County recorded the
lowest poverty rate (2 percent of families) on the list with the highest high school graduation rate (97.2
percent). (Movoto Real Estate, 2014)
Douglas County ranked sixth in the nation on a list of counties with the highest median income as a result
of high wage jobs in the area. Douglas County had a median income of $99,767 in 2013, compared with
the national median income of $52,300. (Sentier Research, 2014)
The Denver South region boasts a variety and quality of housing options from expansive apartment
complexes to single-family homes surrounded by open spaces. One of the largest and most
comprehensive master planned communities in the nation—RidgeGate—is located conveniently along
Interstate 25 and Lincoln Avenue in Lone Tree and offers 3,500 acres of mixed-use density including
retail, dining, healthcare, recreation, and mass transit. (Denver South Economic Development Partnership,
2014)
6. Access to financial resources to fund research and development
 The Colorado Digital Health Challenge is a three-month program to curate and vet the best and brightest
digital health companies in Colorado. The Challenge is split into two tracks—one to connect applicants
with major health systems and health insurance carriers for pilots of new technologies (called the Access
Track) and another to connect applicants to potential funders (called the Finance Track.) The Colorado
Health Foundation provided $150,000 in awards in 2014 and is the first of its kind in the West catering to
early-stage digital health and health information technology companies.
 Two grant programs were created by the Colorado Legislature to grow and expand the region’s
bioscience industry:
 The Clean Technology Discovery Evaluation Grant Program established a pool of funds to support
research and development of new products and technologies, to support early-stage companies, and to
develop infrastructure. This program could generate as much as $2 million each year in new seed
money for the bioscience industry.
 The Bioscience Discovery Evaluation Grant Program was created to grow and expand bioscience
research and accelerate the development of new products and services. The program has created 45
new Colorado companies resulting in 381 direct jobs, an additional $418 million in grants and
investments to further commercialize these bioscience technologies, and awarded a total of 220 grants
totaling more than $27 million to research institutions and early-stage bioscience companies.
(Colorado Office of Economic Development and International Trade, 2013)
 Colorado ranked fifth in the nation for funds raised per worker from the Small Business Innovation
Research (SBIR) grant program. The state received $25.82 SBIR grants per worker compared with the
U.S. average of $11.15. (U.S. Small Business Administration, 2014; U.S. Bureau of Labor Statistics,
2014)
For additional information, contact us:
Denver South Economic Development Partnership
304 Inverness Way South, Suite 315
Englewood, CO 80112
303-792-9447
www.denversouthedp.org
Prepared by Development Research Partners, Inc., www.DevelopmentResearch.net
April 2015 | Page 9