Larimer County, Colorado
2016 Economic Profile
Table of Contents
This workbook contains multiple worksheets of data for Larimer County. Please select the tabs at the bottom of this
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Workbook Contents
Worksheet 1: Population & Cities
Worksheet 2: Employment & Labor Force
Worksheet 3: Education
Worksheet 4: Cost of Living, Income, & Housing
Worksheet 5: Tax Rates
Worksheet 6: Transportation
Worksheet 7: Commercial Real Estate
Worksheet 8: Cultural Institutions
Worksheet 9: Economic Development Partners
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Larimer County, Colorado
2016 Economic Profile
Population & Cities
Population and Households, 2015
Population
Larimer County
332,832
Berthoud (MCP)
5,619
Estes Park
6,209
Fort Collins
160,935
Johnstown (MCP)
790
Loveland
74,461
Timnath
2,418
Wellington
7,662
Windsor (MCP)
6,496
Unincorporated Area
68,242
Households
142,779
2,240
4,235
65,760
389
30,946
914
2,699
2,294
33,302
Note: MCP indicates multi-county place. Figures reported are the portion of total
population and households located in the given county.
Source: Colorado Division of Local Government, State Demography Office.
Race and Ethnicity Distribution, 2015
Hispanic or Latino (of any race)
11.2%
Not Hispanic or Latino
White alone
Black or African American alone
American Indian and Alaska Native alone
Asian alone
Native Hawaiian and Other Pacific Islander alone
Other race
88.8%
83.2%
0.9%
0.5%
2.2%
0.1%
2.0%
Note: Percentages may not add due to rounding.
Source: U.S. Census Bureau, Population Estimates Program.
Gender and Age Distribution, 2015
Male
49.6%
Female
50.4%
Median age
0 to 14 years
15 to 29 years
30 to 44 years
45 to 59 years
60 to 74 years
75 to 89 years
90+ years
36.7
17.5%
23.9%
19.2%
19.0%
14.8%
4.9%
0.7%
Note: Percentages may not add due to rounding.
Source: Colorado Division of Local Government, State
Demography Office.
Larimer County Square Miles
2,632
Source: Colorado Department of Local Affairs.
Larimer County, Colorado
2016 Economic Profile
Employment & Labor Force
Employment by Industry, 2015
Total All Industries
Agriculture, Forestry, Fishing, Hunting
Mining
Utilities
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation & Warehousing
Information
Finance & Insurance
Real Estate, Rental, & Leasing
Professional & Technical Services
Management of Companies & Enterprises
Administrative & Waste Services
Educational Services
Health Care & Social Assistance
Arts, Entertainment, & Recreation
Accommodation & Food Services
Other Services
Government
Non-Classifiable
Establishments
11,190
79
69
13
1,213
489
680
1,144
197
177
570
591
2,050
112
638
179
949
198
839
862
129
13
Employment
147,447
719
543
233
9,534
12,922
4,235
18,035
2,541
2,751
3,543
2,654
10,264
833
8,559
1,427
14,003
2,382
17,611
4,076
30,561
21
Average
Annual Wage
$47,204
$32,093
$59,831
$78,691
$51,705
$82,076
$65,585
$27,480
$40,952
$52,972
$68,636
$42,044
$78,382
$172,016
$33,780
$26,486
$44,965
$17,772
$17,674
$33,430
$51,026
$51,053
Note: Employment for individual industries may not add to the total due to rounding.
Source: Colorado Department of Labor and Employment, Labor Market Information, Quarterly Census of Employment and
Wages (QCEW).
Ten Largest Employers in Larimer County
Company
Industry
UCHealth: Poudre Valley Hospital
Hewlett Packard
Broadcom Ltd.
Banner Health: McKee Medical Center
Woodward
Hach Company
Qualfon
Tolmar, Inc.
Anheuser-Busch
New Belgium Brewing Company
Healthcare
Technology Product Design
Semiconductor Components
Healthcare
Speed Controls
Analytical Instruments
Customer Care Center
Pharmaceuticals
Brewery
Brewery
Source: Development Research Partners, May 2016.
Local
Employees
6,080
1,490
1,450
1,340
1,230
800
680
610
560
450
Labor Force Data, 2015
Labor Force
180,306
Employed
174,364
Unemployment Rate
3.3%
Source: Colorado Department of Labor and
Employment, Labor Market Information.
Larimer County, Colorado
2016 Economic Profile
Education
K-12 Education Statistics
(Most Recent Available School Year)
School Year
Enrollment
2015-2016
Number of Schools
2015-2016
Pupil/Teacher Ratio
2015-2016
Dropout Rate (grades 7-12)1
2014-2015
Completer Rate2
2014-2015
Graduation Rate3
2014-2015
Shares of Population Age 25 Years and Over by Educational
Attainment (2015)
Larimer County
46,713
92
17.7
1.6%
78.5%
80.6%
1
Includes alternative schools. Due to a change in Colorado law, dropout
figures from 2005 and beyond could include students who have left to attend
school at home, outside of the state or country, or at a private institution.
These students are only included in the dropout count when specific
documentation of the school change is not provided.
Percent with high school diploma or higher
Percent with bachelor's degree or higher
Percent of Total
95.8
46.2
Colorado
Percent with high school diploma or higher
Percent with bachelor's degree or higher
91.2
39.2
U.S. Average
Percent with high school diploma or higher
Percent with bachelor's degree or higher
87.1
30.6
Source: U.S. Census Bureau, American Community Survey.
2
Completers are students who graduate, receive certificates or other
designations of high school completion or attendance, or receive a G.E.D.
from programs administered by the district.
3
Graduation rates are calculated based on high school graduates only.
Source: Colorado Department of Education.
College Entrance Exam Scores
ACT Composite Score - 2016
Larimer County
Northern Colorado
Colorado
U.S. Average
SAT 2016
Critical Reading
Colorado
U.S. Average
21.5
20.2
20.6
20.8
587
494
Math
Colorado
U.S. Average
589
508
Writing
Colorado
U.S. Average
571
482
Note: All Colorado high school juniors are required to
take the ACT. Nationally, only college bound juniors
generally take the ACT.
Sources: Colorado Department of Education; ACT, Inc.;
and College Board.
Higher Education Facilities in Metro Denver and Northern Colorado
Fall 2015
Enrollment
Four Year Public Colleges and Universities
Colorado School of Mines - Golden
5,923
Colorado State University - Fort Collins, Denver
27,935
Metropolitan State University - Denver
University of Colorado Boulder
University of Colorado Denver
University of Northern Colorado - Greeley
20,155
31,663
18,658
10,058
Four Year Private Colleges and Universities
Colorado Christian University - Lakewood
Johnson & Wales - Denver
Regis University - Denver
University of Denver - Denver
University of Phoenix - Metro Denver campuses
11,797
1,674*
Two Year Public Colleges
Aims Community College - Greeley
Arapahoe Community College - Littleton
Community College of Aurora
Community College of Denver
Front Range Community College - Westminster, Fort Collins
Red Rocks Community College - Lakewood
5,298
10,004
6,943
9,130
18,747
7,789
*Estimate.
Source: Colorado Department of Higher Education and individual schools.
5,787*
1,388
9,208*
Larimer County, Colorado
2016 Economic Profile
Cost of Living, Income, & Housing
Per Capita Personal Income, 2015
Larimer County
$45,318
Northern Colorado
$44,151
Colorado
$50,899
United States
$48,112
Avg. Monthly Apartment Rents, 3Q 2016
Type
Fort Collins/Loveland
Efficiency
$822.29
1 Bed
$1,138.75
2 Bed 1 Bath
$1,194.36
City
Atlanta, GA
Source: U.S. Bureau of Economic Analysis.
2 Bed 2 Bath
3 Bed
All
Vacancy Rate1
Baltimore, MD
Boston, MA
Boulder, CO
Chicago, IL
$264.3
$435.3
$515.2
$244.1
Cleveland, OH
$138.9
Dallas, TX
$230.5
Denver, CO
Houston, TX
Los Angeles, CA
Miami, FL
Minneapolis, MN
New York, NY
Philadelphia, PA
Phoenix, AZ
Portland, OR
Raleigh, NC
San Francisco, CA
Seattle, WA
Washington, DC
United States
$386.8
$217.4
$536.7
$315.0
$240.3
$397.6
$234.8
$235.3
$358.5
$250.2
$835.4
$422.1
$393.5
$240.9
1
Single-Family Median Home Price
(000s)
$1,415.60
$1,577.06
$1,306.24
4.0%
Vacancy rate for all apartment types.
Source: Colorado Division of Housing, Colorado
Multi-Family Housing Vacancy and Rental Survey.
Cost of Living Index (selected cities) - Third Quarter 2016
City
Atlanta, GA
Austin, TX
Boston, MA
Chicago, IL
Dallas, TX
Denver, CO
Houston, TX
Las Vegas, NV
Los Angeles, CA
Miami-Dade County, FL
Oakland, CA
Phoenix, AZ
Portland, OR
Raleigh, NC
Salt Lake City, UT
San Diego, CA
San Francisco, CA
Seattle, WA
St. Louis, MO-IL
Washington, DC
1
All Items Index1
97.6
96.3
146.4
117.6
103.2
112.6
99.4
101.3
143.6
Grocery
101.6
86.6
107.9
103.5
110.3
110.4
86.9
101.6
112.9
Housing
84.9
94.0
203.2
140.9
96.4
134.3
106.1
107.4
225.2
Utilities
104.8
101.3
150.2
87.1
98.9
94.7
109.8
86.6
106.7
Transportation
101.1
99.8
113.3
133.0
100.7
104.1
94.7
107.3
130.6
Health Care
110.2
100.5
132.7
103.3
108.3
107.8
90.2
101.4
110.0
Misc. Goods
and Services
101.7
98.9
125.3
109.7
107.7
104.2
98.4
98.4
106.8
108.7
152.4
98.6
128.2
94.7
93.1
145.7
181.9
143.1
89.7
151.6
101.7
134.5
94.6
117.2
113.8
93.9
114.7
132.8
122.3
102.2
114.3
129.1
237.9
98.6
175.1
70.6
90.5
235.1
334.4
179.0
69.5
243.7
96.3
107.4
95.2
80.9
94.6
78.5
117.4
107.3
126.5
110.7
121.8
104.6
125.7
102.1
109.0
91.9
108.6
127.0
133.1
131.0
94.9
97.9
101.1
114.7
95.3
108.3
101.1
92.3
108.0
118.2
126.3
97.5
100.1
100.4
114.9
100.5
116.6
107.7
94.3
102.3
119.9
132.4
92.4
122.5
Index measures the relative price levels for consumer goods and services in selected cities compared with the national average of 100 for all participating cities.
Source: The Council for Community and Economic Research, C2ER Cost of Living Index.
3Q 2016
$191.5
Source: National Association of Realtors.
Larimer County, Colorado
2016 Economic Profile
Tax Rates
Local & State Sales Tax Rates
Real & Business Personal Property Taxes
Berthoud
Estes Park
Fort Collins
Johnstown
Loveland
Timnath
Wellington
Windsor
3.00%
Larimer County
Colorado
0.65%
2.90%
5.00%
3.85%
3.00%
3.00%
Assessment Ratios
Commercial Property
Residential Property
29%
7.96%
3.00%
3.00%
3.95%
Average Mill Levy, 2015
Larimer County
Northern Colorado
88.203
69.709
Note: The mill levy is the dollars of tax per $1,000 of
assessed valuation.
Source: Colorado Department of Revenue.
Note: Sales and use tax rates are current as of July 1, 2016.
Additional local or special levies may apply. Some cities may be
located in more than one county.
Property Tax Example
Source: Colorado Division of Property Taxation.
Colorado Income Tax
Corporate Income Tax
Personal Income Tax
4.63%
4.63%
Note: Income tax rate is applied to adjusted federal gross income.
Assume you have a home with a base year market value of
$200,000. With a residential property assessment ratio of
7.96%, the assessed value of the home is $15,920 (1).
Given that the 2015 Northern Colorado average mill levy of
69.709 is the tax on each $1,000 of assessed value, the total
tax due is $1,109.77 (2).
Source: Colorado Department of Revenue.
(1) $200,000 * 7.96% = $15,920
(2) $15,920 * .069709 = $1,109.77
Larimer County, Colorado
2016 Economic Profile
Transportation
Ideally located near major air, motor, and rail arterials, all transportation needs are well met in Larimer County. Denver International
Airport (DEN) is less than one hour away, and the Northern Colorado Regional Airport, served by Allegiant Air, is easily accessible. I25 connects the region to Denver. Highway 34 provides a direct route to Estes Park, while connections to I-80 and I-70 are less than
an hour away to the north and south, respectively.
Larimer County is also served by the Union Pacific and Great Western Railroads, positioning the Larimer County communities at the
nexus of transportation infrastructure.
Air Transportation
Denver International Airport (DEN)
General Aviation Airports
Denver International Airport (DEN) is the sixth-busiest airport
in the United States and has served well more than 900
million passengers since it opened in February 1995.
www.flydenver.com
Size (square miles)
53
Runways
6
Gates (includes gates in regional jet facilities)
Commercial Carriers
151
15
2015 Passenger Traffic (millions)
The Northern Colorado Regional Airport is located about
55 miles north of Denver along the I-25 corridor. The airport
has commercial airline service and also provides corporate
and general aviation services. Annually, 54,000 visitors
arrive in Colorado via the airport and the airports economic
contirbution is $129.4 million.
www.fortloveair.com
Size (acres)
Runways
Based Aircraft
1,050
2
263
54.0
2014-2015 Passenger Traffic Growth
Total Destinations (Domestic & Int'l)
1.0%
Over 180
The Greeley-Weld County Airport is one of Colorado's
fastest-growing business aviation facilities. The airport is
located 50 miles north of Denver. Annually, 23,000 visitors
arrive in Colorado via the airport and the airports economic
contirbution is $94.1 million.
www.gxy.net
Size (acres)
1,200
Runways
Based Aircraft
2
210
.
The city of Fort Collins and Transfort debuted MAX in May 2014, the first bus rapid transit system in the Front Range. MAX provides
service from the South Transit Center south of Harmony Road to Midtown, CSU, and downtown Fort Collins along a transit-only guideway that runs parallel to the Burlington Northern Santa Fe Railway and College Avenue. The project is the largest infrastructure
project in the community's history.
Regional Transit Resources
City of Loveland Transit (COLT)
Greeley-Evans Transit (GET)
Transfort (City of Fort Collins)
http://www.ci.loveland.co.us/publicworks
www.greeleygov.com/theBus
www.ci.fort-collins.co.us/transfort/
Rail Transportation
Burlington Northern Santa Fe Railway - Freight Service
Union Pacific Railroad - Freight Service
Amtrak - Passenger Service
Larimer County, Colorado
2016 Economic Profile
Commercial Real Estate
Larimer County Commercial Real Estate Market Conditions, 3Q 2016
Office
Industrial
Flex
Retail
Existing
Space1
10.4
14.9
6.1
19.2
Vacant
Space1
0.6
0.6
0.9
0.8
Overall
Vacancy Avg. Lease
Rate
Rate2
5.4%
$21.79
4.0%
$8.02
15.4%
$9.62
4.0%
$15.99
1
Building space is listed in millions of square feet. Vacant space, vacancy rate, and average
lease rate are for all direct and sublet space.
2
Office lease rates are per square foot; all others are per square foot, triple-net (NNN).
Source: CoStar Realty Group.
Construction Cost Index 2016
City
Materials Installation Composite
Atlanta, GA
98.1
76.5
88.6
Baltimore, MD
100.9
83.4
93.2
Boston, MA
100.6
139.1
117.5
Buffalo, NY
100.3
106.4
103.0
Chicago, IL
99.9
140.4
117.8
Cincinnati, OH
98.2
83.7
91.8
Cleveland, OH
99.2
99.4
99.3
Columbus, OH
98.2
87.4
93.5
Dallas, TX
99.2
67.9
85.4
Denver, CO
101.6
80.4
92.3
Detroit, MI
98.2
108.2
102.6
Houston, TX
100.7
69.8
87.1
Indianapolis, IN
99
85.2
93.0
Kansas City, MO
100.2
104.8
102.2
Los Angeles, CA
100.2
117.2
107.1
Memphis, TN
98.9
72.5
87.3
Miami, FL
98.9
72.3
87.2
Milwaukee, WI
98.9
106.9
102.4
Minneapolis, MN
100.7
119.9
109.1
Nashville, TN
98.2
74.1
87.6
New York, NY
100.7
169.8
131.1
Philadelphia, PA
99.5
134.7
115.0
Phoenix, AZ
100.5
73.0
88.4
Pittsburgh, PA
100.2
104.6
102.1
St. Louis, MO
100.2
104.3
102.0
San Antonio, TX
100.3
64.1
84.4
San Diego, CA
101.4
109.8
105.1
San Francisco, CA
104.1
146.0
122.5
Seattle, WA
102.3
103.8
103.0
Washington, D.C.
100.6
95.9
98.5
National Average
100.0
100.0
100.0
Source: RS Means, "Building Construction Cost Data 2016."
Business Parks in Larimer County 2016
Acres
Centerra
1,183
Mountain Vista Business Park
850
2534
450
Ludlow Business Park
340
Centre for Advanced Technology
235
Rocky Mountain Center for
Innovation & Technology
177
Longview Commercial Park
160
Crossroads Business Park
160
Oakridge Business Park
138
Airpark of the Rockies
135
Harmony Technology Park
105
Loveland East Site
100
Prospect East Business Park
97
Highlands Industrial Park
80
Centre Point Business Airpark, LLC
70
Wellington Industrial Land
60
Interchange Business Park
55
Source: Larimer County.
Larimer County, Colorado
2016 Economic Profile
Cultural Institutions
Facility
"Beet" Street
Benson Sculpture Garden
Fort Collins Museum of Art
Fort Collins Museum of Discovery
Fort Collins Symphony
Greeley History Museum
Major Cultural Institutions in Northern Colorado, 2016
City
Facility
Fort Collins
Greeley Philharmonic Orchestra
Loveland
Greeley Stampede
Fort Collins
Lincoln Center
Fort Collins
Midtown Arts Center
Fort Collins
UNC/Greeley Jazz Festival
Greeley
Union Colony Civic Center
Source: Development Research Partners.
Professional Sports Teams and Venues
Northern Colorado
Team
Colorado Eagles
Colorado Ice
Sport
Hockey
Football
League Venue
ECHL
Budweiser Events Center
IFL
Budweiser Events Center
Metro Denver
Team
Colorado Avalanche
Colorado Mammoth
Colorado Rapids
Colorado Rockies
Denver Broncos
Denver Nuggets
Denver Outlaws
Sport
Hockey
Lacrosse
Soccer
Baseball
Football
Basketball
Lacrosse
League
NHL
NLL
MLS
MLB
NFL
NBA
MLL
Source: Development Research Partners.
Venue
Pepsi Center
Pepsi Center
Dick's Sporting Goods Park
Coors Field
Sports Authority Field at Mile High
Pepsi Center
Sports Authority Field at Mile High
City
Greeley
Greeley
Fort Collins
Fort Collins
Greeley
Greeley
Larimer County, Colorado
2016 Economic Profile
Economic Development Partners
City of Fort Collins
www.fcgov.com/business
300 LaPorte Ave.
Fort Collins, 80521
Phone: 970-221-6505
Town of Berthoud
www.berthoud.org
328 Massachusetts Ave.
Berthoud, CO 80513
Phone: 970-744-1026
City of Loveland Economic Development Department
www.cityofloveland.org
500 East Third St., Suite 300
Loveland, CO 80537
Phone: 970-962-2561
Town of Timnath
www.timnath.org
4800 Goodman St.
Timnath CO, 80547
Phone: 970-224-3211