Expensive firms like Facebook, Salesforce, Google, Amazon, and Apple are creating decent sized operations in Denver. They are relocating well-paid employees from Seattle or California to the Denver metro area. So, why is Denver attracting these types of companies?
The Milken Institute does an annual study ranking the most technology-oriented states. Their index measures state-level knowledge economies, their capability to support business formation, job creation, and wage growth.
In the graph above, you can see the results of the study done by The Milken Institute. Massachusetts is #1 and Colorado is #2. Moreover, Colorado has received a top-five ranking for several years in a row. Take a look at the full article here to get a sense of the 36 different sub-scores the states were ranked by.
What does this mean for Denver?
Denver’s pace of attracting prestigious employers with very well-paid employees is high. It is also likely to continue for at least the near future and probably the medium-term future. This is a huge driver for the Denver real estate market. There are more people moving into Denver than moving out. Additionally, the people moving in are more educated with higher incomes. As a result, they can pay more for their real estate. It is definitely fueling the entire market and is one of the underpinnings of the foundation of the Denver real estate market.
Whether you’re relocating across town or across several time zones, you can rely on Your Castle Real Estate to guide you. Your Castle Real Estate Relocation is your full-service relocation solution. As a member of the Employee Relocation Council, the Relocation Directors Council, and the Rocky Mountain Relocation Council, we have the resources to deliver excellence wherever you are and wherever you’re going.
Your Castle Real Estate and our team of specialists are confident that you will be pleased with all aspects of our home relocation services. For more information, please contact us at [email protected] or 855-298-3175.t