industry

CU Boulder opens door to companies through concierge service

Anonymous — Wed, 11 Jan 2017 07:00:00 +0000

CU Boulder opens door to companies through concierge service Anonymous (not verified) Wed, 01/11/2017 - 00:00

Over 800 companies have connected to CU Boulder through its Office of Industry Collaboration (OIC). Businesses often utilize CU Boulder resources and expertise to meet their research, workforce, or other business objectives. At times, navigating the vast university ecosystem to find the right resource proves challenging.

“The Office of Industry Collaboration ‘opens the door’ into the Boulder campus for companies interested in working with CU Boulder,” states OIC Director Caroline Himes. OIC staff consults with individual companies to evaluate their needs and capabilities to better connect and develop relationships according to the company’s specific objectives. Qualified program and project managers bridge businesses with research, workforce development, and unique industry needs. Since its inception in 2013, OIC has logged over 800 support cases of which more than 575 were with 360 individual companies

“Companies also look to our office to broaden their connection to the campus,” Himes explains. “For example, a company may already recruit students but be interested in working more directly with faculty in a specific field of study to address a technical question. After understanding more about the need and available budget, we identify appropriate faculty and make the connection. Should work proceed, we support the project definition and setup.”

Thousands of companies have traditionally engaged with CU Boulder through one point of engagement such as recruiting or research. “Nearly 10,000 companies work with CU Boulder. Yet only a small fraction of those companies engage directly with our academic units and personnel. Growing these connections benefits the company, students, faculty, and community,” Himes clarifies.

The office serves as a resource, not only to individual businesses, but also to organizations that exist to support business growth and prosperity such as the Boulder Economic Council (BEC). Clif Harald, Executive Director of BEC, has found CU Boulder’s industry office useful as a main point of contact to connect their business constituents to the university. “The ability of local businesses to partner with CU Boulder has become much more streamlined with the creation of the concierge function on campus. Being able to refer companies to CU Boulder’s Office of Industry Collaboration has been a great advantage for the Boulder Economic Council in connecting businesses in our key industries to the assets of the university,” Harald explains.

OIC, part of CU Boulder’s Research & Innovation Office (RIO), focuses on the industry aspect of RIO’s mission to support campus-wide progress in research, creative works, partnerships, strategic initiatives, and commercialization. “Strategic industry engagement is essential to our education and research goals,” details Vice Chancellor for Research & Innovation Terri Fiez. “OIC successfully develops relationship opportunities between companies and researchers, supporting industry needs. Understanding a company’s goals related to CU capabilities, especially for major partners, has created connections with faculty and identified broad areas of engagement that provide enhanced value to the company. The OIC team has also been highly influential in identifying new efficient processes and strategies that simplify and improve company and university interactions. The Office of Industry Collaboration plays an important role in our research and innovation mission.”

Connect with OIC by submitting and inquiry form, email industry@colorado.edu, or call 303-492-0800. The door is always open.

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Top 16 in 2016

Anonymous — Thu, 15 Dec 2016 07:00:00 +0000

Top 16 in 2016 Anonymous (not verified) Thu, 12/15/2016 - 00:00

In 2016, we again celebrated a campus community that brings innovation and positive impacts to Colorado and the nation. We marked new discoveries, faculty achievements, Olympic medalists and a resurgent football program while welcoming high-profile visitors to campus and sending satellites throughout our solar system. Enjoy this recap of an outstanding year.

See the Top 16 list here

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Innovation and entrepreneurship at the core of nearly $6 million gift

Anonymous — Fri, 09 Dec 2016 07:00:00 +0000

Innovation and entrepreneurship at the core of nearly $6 million gift Anonymous (not verified) Fri, 12/09/2016 - 00:00

One of the top CEOs in the Republic of Indonesia has pledged nearly $6 million in a philanthropic investment to support the Leeds School of Business’s efforts in entrepreneurship at CU Boulder.

The donor, Tandean Rustandy, is a 1987 Leeds School graduate and founder and CEO of the Jakarta-based PT Arwana Citramulia Tbk. Heading of one of the world’s largest ceramic tile manufacturing companies, Rustandy credits his success to his CU Boulder degree and wants to create more educational opportunities for the next generation of global business leaders.

“Without CU Boulder and Leeds, I would not be who I am today,” Rustandy said. “I come from a very humble family with working-class parents in Indonesia. No one was educated after middle school. I was the first of my family to go to college, and now it’s important that I give back to CU. It’s not about me as an individual and my success, but it’s about the success of the institutions that help create us. This is the legacy I want to leave.”

Rustandy’s philanthropic commitment will be distributed over time. The gift will advance strategic initiatives and strengthen core offerings in the areas of entrepreneurship, innovation and design within the business school and collaboration across campus; establish an endowed professorship in global entrepreneurship and innovation; and establish an endowed chair in global entrepreneurship and strategy.

Rustandy’s investment adds to an array of CU Boulder initiatives supporting entrepreneurship and innovation.

“We are deeply humbled by Mr. Rustandy’s gratitude to CU Boulder,” said Chancellor Philip P. DiStefano. “Located in one of the nation’s most entrepreneurial cities, CU Boulder has a unique advantage as one of the top public entrepreneurial universities in the world. The leadership of the Leeds School and our alumni support, both philosophically and philanthropically, reaffirms our commitment to prepare CU graduates with an entrepreneurial mindset and skills.”

Central to these efforts is a focus on integrating the rich entrepreneurial ecosystem of the Colorado Front Range into the student experience at CU Boulder.

“Our aim is to elevate our efforts in entrepreneurship, innovation and design in new, refined and disruptive ways in and outside of the classroom, said Sharon Matusik, who recently was named interim dean of the Leeds School, to begin on Jan. 1. “To have Tandean step forward with this meaningful investment to continue our long tradition of entrepreneurship helps further not only our momentum with curriculum advancements, but also our world-class reputation.”

December 9, 2016 Original Article

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Professor named to NASA transition team for new administration

Anonymous — Fri, 09 Dec 2016 07:00:00 +0000

Professor named to NASA transition team for new administration Anonymous (not verified) Fri, 12/09/2016 - 00:00

CU Boulder Professor Jack Burns has been appointed to the NASA transition team by the incoming Trump administration.

Burns, a professor in the Department of Astrophysics and Planetary Sciences, has longstanding ties with NASA. He served on the NASA Advisory Council from 2008-10, including a stint as chair of the council’s Science Committee in 2009 and 2010.

Transition, or landing teams, typically are named for each federal department or agency by incoming presidential administrations. Such teams review the activities and portfolios of specific departments or agencies to identify major issues.

Burns also directed the Lunar University Network for Astrophysics Research (LUNAR), a consortium of top research institutions funded by a $6.5 million NASA grant to conduct astrophysics from the moon, including the use of radio telescopes. He also is a fellow at CU Boulder’s Center for Astrophysics and Space Astronomy.

Burns currently is the principal investigator of a $250 million NASA Explorer Mission concept proposal called the “Dark Ages Radio Explorer” (DARE). DARE is designed to orbit the moon and look back in time by making observations of the early universe from above the moon’s far side, when it is shielded from Earth and the sun.

Burns, who currently serves as senior vice president of the American Astronomical Society, was vice president for Academic Affairs and Research for the CU system from 2001-05. He is an elected fellow of the American Association for the Advancement of Science and the American Physical Society. In 2010 he received NASA’s Exceptional Public Service Medal.

December 9, 2016 Original Article

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Reinvigorated Technology Transfer Office translates campus innovations into impact

Anonymous — Mon, 14 Nov 2016 07:00:00 +0000

Reinvigorated Technology Transfer Office translates campus innovations into impact Anonymous (not verified) Mon, 11/14/2016 - 00:00

With a renewed focus on the CU Boulder campus and a host of new initiatives aimed at streamlining the path from science to commercialization, the Technology Transfer Office (TTO) is poised to provide even greater support for faculty in translating their innovations into external impact.

The TTO connects campus researchers with a variety of university and community commercialization programs while providing expertise in patents, copyrights and licensing.

13 licensing deals so far this year

In the first quarter of this year, the TTO closed 13 licensing deals, putting it on pace to complete more licenses than in any year since the figure was first tracked 16 years ago. Recent success stories like those of ReVision Solutions, which recycles waste products from eyeglass production, and reusable carbon fiber company Mallinda reflect how TTO is accelerating the innovation lifecycle from idea to impact. The team is also launching new initiatives like expedited licensing, streamlined startup, consulting, and partnering resources to support easy access to and commercialization of CU Boulder technology.

This summer, TTO reorganized from a CU system office to a Boulder campus office to more closely align with the campus’s vision and strategy. The TTO is now housed within the Research & Innovation Office (RIO), formerly the Office of the Vice Chancellor for Research.

Vice Chancellor for Research & Innovation Terri Fiez sees the integration of the TTO as a logical addition to the CU Boulder campus and RIO.

"The campus focus keeps the TTO in daily contact with our faculty and others within RIO positioned to help faculty – including the Office of Industry Collaboration, AeroSpace Ventures, Grand Challenge and Innovation & Entrepreneurship – who regularly interact with the same external partners," Fiez said. "This allows us to more effectively connect our faculty and students with external resources and partners."

Fiez said the transition is part of a broader reassessment of how to best serve the faculty and the campus's commercialization partners.

"We want to make the process easy and open doors so that more faculty innovations are commercialized.”

New team of subject matter experts

Augmenting the structural enhancements, TTO Director Brynmor Rees is joined by a team of functional and subject-matter experts to effectively support the campus. Licensing staff Kala Majeti, Stephanie Villano, and Marta Zgagacz offer expertise in physical sciences and engineering, and a biosciences specialist is being added this month. Joe Davidek, patent administrator, Lynn Pae, license administrator, Angie Skovira, administrative and financial coordinator, and Nathan Chen, database administrator, support the TTO operation.

“Several elements have come together quickly here,” Rees explains. “We’re assembling a very strong team, we have a new home within RIO and we are creating alignment between our vision and that of the campus. When we then fold in the constants – our creative faculty and students, and the unique community we have here in Boulder – the possibilities are extraordinary.”

With a more singular focus and a robust team in place, CU Boulder’s TTO is now ideally positioned to leverage the campus’s focus on exploring innovation through its world-class physics, biosciences, aerospace and engineering programs.

Learn more about the CU Boulder TTO.

November 14, 2016 Original Article

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Careers, collaborations and cutting-edge research highlight 2016 AeroSpace Ventures Day

Anonymous — Wed, 09 Nov 2016 13:07:12 +0000

Careers, collaborations and cutting-edge research highlight 2016 AeroSpace Ventures Day Anonymous (not verified) Wed, 11/09/2016 - 06:07

CU Boulder faculty researchers, staff, and students discussed innovation, collaboration and career opportunities with thought leaders and executives from Colorado’s aerospace industry on campus Thursday, October 27 at the 4th Annual AeroSpace Ventures Day.

Held at the Laboratory for Atmospheric and Space Physics (LASP) in CU Boulder’s Research Park, the sold-out event brought together representatives from the state’s leading aerospace companies in order to learn about the latest cutting-edge research, discuss challenges and opportunities facing their organizations, and explore ways in which the CU community can help advance the field.

Bobby Braun, incoming dean of CU Boulder’s College of Engineering and Applied Science, praised Colorado’s “strong and vibrant” aerospace industry in his keynote address.

“From small to medium to large-sized businesses, to the space-oriented focus at CU, to some of the work that’s going on at the national labs, CU and Colorado are a real aerospace economic and innovation engine,” said Braun. “And there’s nothing you can’t do when you partner industry and university folks. I’ve seen that on the academic side and on the federal side.”

In addition to research presentations from over thirty CU Boulder faculty researchers—in areas related to space weather, earth observation, space exploration, and space technologies—the event featured industry discussion panels with representatives from Ball Aerospace, Harris Corporation, United Launch Alliance, Lockheed Martin, Northrop Grumman, Digital Globe and Advanced Space: all companies with offices in Colorado.

One hot panel topic centered around the need for greater flexibility in university-industry partnerships, a challenge that has led to a growing number of high-level “master” agreements between CU Boulder and participating companies—including small businesses, which comprise 84% of Colorado’s aerospace companies. Several company representatives expressed the value of such agreements in helping catalyze more effective collaborations.

“Creating lasting impact requires industry and university members to engage far beyond the conventional exchange of research or funding,” noted panel moderator Major General (Ret.) Jay Lindell, Aerospace and Defense Industry Champion for the Colorado Office of Economic Development and International Trade (OEDIT). “It requires collaborative relationships. And when they work well, strategic partnerships merge the discovery-driven culture of the university with the innovation-driven environment of the industry.”

Students joined a crowd of 50 attendees toward the end of the day for a candid Q&A with industry members about how to launch—and develop—a successful career in aerospace. Afterward, in a departure from typical career fair structure, students attended a networking reception and had an opportunity to meet with in-state aerospace companies in a more personal setting.

“We wanted to highlight the huge workforce opportunity right here in Colorado and facilitate those connections for our students,” said Abby Benson, executive director of AeroSpace Ventures.

As several panelists expressed, aerospace offers intrepid engineers more than a dynamic, evolving career platform; it regularly provides something much more elusive in today’s job market—fulfillment. “I joined Lockheed Martin because I decided I wanted to do something that’s bigger than I am,” said Radek Uberna, a Business Development Analyst at Lockheed. “If you work for a space systems company, even if you don’t build spacecraft directly, you still participate in historic events.”

Carol Driggs, Engineering Center Manager for Northrop Grumman, agreed: “Everything we do every day is saving lives.”

�鶹��Ƶ AeroSpace Ventures: CU Boulder AeroSpace Ventures, housed within the Research & Innovation Office (RIO), brings together researchers, students, industry leaders, government partners, and entrepreneurs to envision and create the future for space and Earth systems, driving the discovery and innovation that will shape the 21st century economy.

November 9, 2016 Original Article

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CU seeks city support on development of new hotel-conference center in heart of Boulder

Anonymous — Thu, 01 Sep 2016 20:35:28 +0000

CU seeks city support on development of new hotel-conference center in heart of Boulder Anonymous (not verified) Thu, 09/01/2016 - 14:35

New venue would give CU, city world-class facility for academic, research conferences and meetings

The city manager and staff will ask the Boulder City Council next week to consider a collaborative plan with the university to develop a new hotel and conference center in the heart of the city. The center will have the potential to help revitalize The Hill commercial district and create a modern gathering place for academics, researchers and the community.

With the new facility, CU will be able to compete for the highest-quality international meetings and conferences in support of its academic and research missions. It would also provide Boulder with a much-needed meeting venue for business, nonprofit and community events.

CU Boulder and the city would like to see the new venue built on university-owned land in the vicinity of Broadway and Grandview Avenue. The new facility would feature a 250-room hotel, a 15,000-square-foot ballroom, individual meeting rooms, underground parking and other amenities.

Both city and university planners believe the facility will spur revitalization efforts in The Hill commercial district and establish better pedestrian corridors between the new hotel and conference center, downtown Boulder and CU’s main campus.

“Any way you look at it, it’s a win-win for the university and the city. We look forward to collaborating with Boulder on a project expected to be an economic and culture asset for the community,” said CU Boulder Chancellor Philip P. DiStefano. “We expect this new venue to bring distinctive groups of researchers, business leaders and international visitors who are drawn to the innovative and unique culture of the university and the city.”

According to the MOU, the city would provide CU with tax incentives to ensure that a planned ballroom would be large enough to accommodate community events. In return, the university would initiate a request for proposals or RFP process seeking ideas from private firms to design, build, finance and operate the new facility. The plan will provide a unique opportunity for a public-private partnership, an innovative way to bring large capital construction projects to fruition.

Studies commissioned and financed by the city and CU concluded that Boulder is underserved in the realm of meeting spaces and hotels compared to other communities of similar size and demographics.

“Boulder is an attractive destination for thousands of visitors who trek here every year to visit students, family and friends. This facility would be a strong addition for small-to-medium sized conferences and meetings in our community,” said CU Real Estate Director Jeff Lipton.

September 1, 2016 Original Article

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CU Entrepreneurial Law Clinic Accepting Applications

Anonymous — Tue, 16 Aug 2016 17:13:22 +0000

CU Entrepreneurial Law Clinic Accepting Applications Anonymous (not verified) Tue, 08/16/2016 - 11:13

The Entrepreneurial Law Clinic (ELC or the Clinic) provides law students with practical experience in transactional law while offering valuable legal services without charge to local startup businesses lacking access to legal resources. Applications to the ELC should be submitted in late-July through mid-August.

The Entrepreneurial Law Clinic (ELC or the Clinic) provides law students with practical experience in transactional law while offering valuable legal services without charge to local startup businesses lacking access to legal resources. The ELC pursues the following complementary student and client goals:

Provide a rigorous and practical educational experience by serving as an inspiration for students interested in transactional law;
Promote ethical values in transactional lawyers; and
Provide outreach that connects to communities outside the law school and serves clients that would otherwise remain under-served by the practicing bar.

By assisting entrepreneurs when they need help the most, the ELC provides CU Law School students hands-on opportunities to make a difference in the community.

The ELC provides various types of assistance, including:

Corporate Work
- Helping clients choose an effective entity structure
- Forming companies
  - LLCs, C-Corps, S-Corps, B-Corps
- Assisting clients in issuance of founders’ equity and creation of founders’ agreements
- Advising clients on how to comply with ongoing corporate legal requirements
- Advising on the fundraising process and on corporate finance issues
Commercial Work
- Drafting contracts and agreements relating to a client's business (or non-profit entity)
  - Employee & Independent Contractor agreements
  - Vendors agreements
  - Customer contracts
  - Website terms and conditions of use and privacy policies
  - Confidentiality agreements
  - Non-Disclosure agreements
  - Licensing agreements
Intellectual Property
- Advising clients on how to protect their intellectual property
- Working with the US Patent & Trademark Office

There are a few areas of practice that the Clinic does not cover, mainly: litigation (or situations where litigation appears likely); pure tax advice; and immigration law.

Applications and On-Board Process

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Partnership 'looks into' creating new material from eyeglass lens waste

Anonymous — Thu, 04 Aug 2016 17:27:01 +0000

Partnership 'looks into' creating new material from eyeglass lens waste Anonymous (not verified) Thu, 08/04/2016 - 11:27

Photo: Bart Foster (front-left) and Wil Srubar (front-right) look through a pair of eyeglass lenses with graduate research assistants Sankar Ravichandran (back-left) and Elizabeth Delesky (back-right) standing behind them. (Photo by Casey A. Cass/�鶹��Ƶ)

When serial entrepreneur and Boulder resident Bart Foster is successful with a startup of his, he makes sure others win. It’s part of his philosophy.

“It just makes sense,” says Foster, who years ago was hugely successful, raising over $50 million in capital for one startup – self-service biometric health kiosks found in grocery stores and other retail locations. “If you’re wildly successful, if the thing you’re working on goes nuts (in a good way), the people who helped you early on should win.”

There are a handful of people at CU Boulder – faculty, staff and students – who will win if Foster triumphs with his current quandary. In fact, they might say they’re already benefiting from the project. Together, they’re figuring out how to recycle the swarf, or shavings, produced in the making of eyeglass lenses. Several tons of the stuff is dumped into landfills each year.

Foster, who has more than 15 years of experience in the optical industry, began pondering the problem after perusing a Denver shop that sells nothing but reclaimed or repurposed furniture and accessories.

“That store was one of my inspirations,” says Foster. “As I walked through, I asked myself, ‘What else is in abundance and going into landfills, but could be recycled?’ And then I made a list of a hundred items.”

Most lenses are made out of a synthetic material, not glass. Initially about the size of a hockey puck that’s filed down to shape by machinery, a lens’s swarf looks like fake snow – the type you might see in a wintertime storefront display.

But it’s a challenging material to recycle, a code no one has yet cracked. The substance is comprised by three or more types of plastic that each respond differently to heat, so it can’t simply be melted down. The byproduct also can contain coolant and metals and is moist, so an efficient cleaning and drying process needs to be devised if it’s going to be reused.

If certain unwanted parts of the material could be removed and other substances could be added at the molecular level, perhaps a new material could be created,” says Foster. “Perhaps we could turn the swarf into building materials, outdoor clothing and gear, or safety equipment, like helmets.

However, to analyze the material and explore its possibilities, as well as plan and prepare for commercialization, should the project succeed, Foster needed technical guidance and research prowess.

Enter CU Boulder. Foster reached out, seeking cross-campus expertise to advance his idea. One ongoing resource for him is the Office of Industry Collaboration, which supports partnerships between the university and outside entrepreneurs, as well as business and industry organizations.

“He saw an industry problem, had some thoughts on possible solutions and needed support to determine if the problem could be solved,” said Caroline Himes, director of the office. “He also had a track record of success in taking new ideas to market, had high-level connections in the industry and probable access to funding.”

The Office of Industry Collaboration facilitated introducing Foster to Wil Srubar, assistant professor of civil, environmental and architectural engineering, and Wei Zhang, associate professor of chemistry and biochemistry. And a research project was born.

“Our preliminary results have been extremely promising,” says Srubar. “Our team here at CU Boulder has discovered critical reprocessing pathways that allow for the material to be recovered and re-engineered for future uses.

“Industry-university partnerships offer much value to companies,” adds Srubar. “Bart had to invest little in startup costs related to equipment and expertise, instead leveraging the world-class resources we have here. My research team has been able to identify novel technologies that, in turn, are patentable and licensable, and we are able to share our knowledge with the broader scientific community through patents and publications.”

Foster also connected with the Technology Transfer Office, which – on behalf of both Foster and CU Boulder – will help secure intellectual property rights and set the course for any licensing options to come out of the project. Additionally, he linked with and was advised by a CU Boulder law student and five MBA students.

But Foster hasn’t been on the receiving-end-only of this partnership. During the process, he’s focused on building capital, securing over $250,000 from a number of major organizations in the optical industry. He also became a mentor to CU Boulder’s entrepreneurial community through the annual New Venture Challenge.

“It is an ideal combination of connecting an experienced entrepreneur with CU Boulder skills and talent,” says Himes.

The environment and optical companies, which are seeking sustainable options, according to Foster, benefit from any advances as well.

“I see this as the formula, pulling together a whole team of people who can help create a business where everyone wins,” says Foster. “So I’m hopeful to do it again, multiple times. It’s what I like to do.”

It’s also what CU Boulder likes to do.

August 4, 2016 Original Article

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State economy in mostly positive territory, as expected

Anonymous — Wed, 15 Jun 2016 17:40:59 +0000

State economy in mostly positive territory, as expected Anonymous (not verified) Wed, 06/15/2016 - 11:40

The Colorado economy continues to expand, outperforming the U.S. economy, but at a slower pace than seen in 2014 and 2015, according to a midyear economic update released today by the �鶹��Ƶ’s Business Research Division (BRD) at the Leeds School of Business.

Employment in the state was up by 2.4 percent year-over-year in May 2016. A total gain of 62,000 jobs in Colorado is expected for 2016, nearly reaffirming the estimate given in December at the BRD's 51st annual Business Economic Outlook Forum. However, the sources of that growth among the state’s sectors have slightly shifted from expectations with some areas performing better than others.

“Our original forecast for 2016 is similar to what we’re in fact seeing, but there are some sectors that are doing better than we anticipated and some that aren’t doing as well,” said economist Richard Wobbekind, executive director of the B RD, which prepares the midyear outlook. “There’s been more growth in government jobs and leisure and hospitality than we’d anticipated. And we certainly are seeing significant flows of venture capital particularly into software and applications-types of areas.”

Wobbekind also noted both commercial and residential construction is strong, as well as manufacturing and information, which includes publishing and telecommunications.

“We’re really seeing job growth across the board, except for the natural resources and mining sector,” he said.

Wobbekind recently met with Colorado Business Economic Outlook steering committee members, who represent the state’s major economic sectors, for the midyear update.

Sector highlights:

Agriculture: Low commodity prices and a decline in exports in 2016 continue to affect Colorado farmers and ranchers. Drought conditions have moderately abated.

Natural resources and mining: The number of seasonally adjusted jobs in this sector has been decreasing since January 2015. With 26,300 jobs in May 2016, the industry has experienced a 16.8 percent decline since May 2015.

Construction: Although employment in the industry has grown steadily since the beginning of 2012 and sits at 158,300 as of May 2016 – up from 147,800 jobs in May of last year – the number has not reached pre-recession levels.

Manufacturing: Employment in the sector surpassed committee estimates in 2015, but is underperforming against expectations for this year. Employment in the sector totaled 143,300 jobs in May of 2016, up from 140,700 around the same time last year.

Trade, transportation and utilities: Holding steady, the sector increased in employment by 1 percent through May after experiencing a 2.9 percent increase, or the addition of 12,400 jobs, in 2015. The sector currently employs 448,900 people and accounts for 17.3 percent of statewide employment

Information: Total employment in May 2016 was 71,800 jobs, or 36.6 percent below the peak reached in 2001, but up by 1.8 percent year-over-year.

Financial activities: Overall employment has seen a modest gain of 3,500 jobs year-over-year through May. The real estate, rental and leasing sector grew by 7.5 percent in the same period, indicating growth in the housing industry.

Professional and business services: Year-over-year growth in May 2016 was 2.2 percent, an 8,700-job increase, bringing the sector total to 405,700 jobs. Among the sector’s three subsectors, professional, scientific and technical services accounted for 51.2 percent of total employment in the industry in May 2016.

Education and health services: Total employment in the sector was at 321,000 jobs as of May 2016, a year-over-year growth of 3.1 percent. Accounting for nearly 88 percent of the sector’s employment, the areas of health care and social assistance grew by 7,300 jobs year-over-year in May, continuing a steady growth trend.

Leisure and hospitality: The sector grew by 5 percent in jobs year-over-year as of May 2016, or 15,500 jobs.

Government: Through May 2016, the sector is 7,000 jobs, or 1.7 percent, above the committee estimate, which was 418,200 jobs total.

International trade: Colorado exports were down by 11.1 percent year-over-year in April 2016. The state’s top-five import markets in order are Canada, Mexico, China, Japan and Malaysia. Malaysia replaces the Netherlands, which held the No. 5 spot at midyear in 2015.

For the complete Colorado 2016 midyear economic update visit the Business Research Division page.

July 15, 2016 Original Article

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