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Federal agencies add $6.6 billion to area
Published March 23, 2007 at midnight
Federal agencies pump $6.6 billion into Denver's economy annually in a variety of ways, including wages and spending and construction and contract work, according to a study released Thursday.
In addition, federal agencies also provide benefits such as employment stability, the study says.
"We've always known the area's federal agencies were significant members of the community and had a real impact on the area," Larry Grandison, executive director of the Denver Federal Executive Board, which funded the study, said in a news release. "Now we can actually quantify that impact in economic terms."
The study, compiled by the University of Colorado's Leeds School of Business, assesses the economic impact of federal and military agencies in Denver and surrounding areas, including Adams, Arapahoe, Boulder, Broomfield, Douglas and Jefferson counties.
The study also looked at federal agencies statewide, saying they contribute $8.4 billion to Colorado's economy.
Federal agencies employ nearly 40,000 in the metro region and 53,000 statewide.
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