Recently the Metro Denver Economic Development Corporation (EDC) released its 2010 economic forecast. Overall the forecast appears to be cautiously optimistic. While the recession may be technically over, the recovery isn't necessarily expected to be a strong one.
Some of the highlights from the forecast include:
- Denver is one of the 10 best cities for housing recovery
- Denver is frequently voted one of the best places to live by various publications
- Substantial job growth will likely be slow to materialize until the national economy stabilizes
- The end of the recession may be a bit hollow since it was heavily supported through government incentives
- Colorado exports are expected to increase in 2010 due to the relatively weak dollar
- Numerous new corporate headquarters in renewable energy and healthcare in Denver metro are likely to help to prop up the Denver metro economy
- Weakness in commercial real estate and constrution are expected to continue to be a problem in 2010
How Does this Help Me Market My Denver Small Business?
It probably isn't a bad idea for the Denver Small business owner to keep an eye on the emerging trends on a larger scale to see what is coming down the road in 2010. While residential real estate seems to have more or less bottomed out, commercial real estate and construction show no signs of improvement any time soon. Unemployment also is unlikely to improve in the near future. Lifting your head up from day to day small business activities and taking a peek at macro economic trends can help small business owners plan for the future.