From CNBC: 2024-04-08 07:00:01

In Denver & Boulder, tech booms fuel economic growth with key factors like military presence, leading universities, and high-tech industries. Challenges emerge with a growing homeless population, affordability issues, and infrastructure strain. Denver sees diversification with professional sports, outdoor recreation, and a growing cannabis industry amid economic success.

Legal marijuana sales contribute $15 billion to Colorado’s economy, with Denver sales surpassing $6 billion. Despite a 24% drop in cannabis revenue, experts predict a return to growth with a 16% revenue increase forecasted for 2024. Denver Mayor remains optimistic about the future of the cannabis industry.

Denver’s major league franchises generate $1.159 billion in revenue, competing nationally with sports powerhouses. The University of Colorado Boulder sees financial impact with the hiring of NFL star Deion Sanders as football coach. Sanders boosts ticket sales by $20 million, elevating the region’s economic growth.

Red Rocks Amphitheatre in Denver emerges as a global economic powerhouse, generating $717 million in regional economic output annually. Known for its unique geography and acoustics, the venue ranks as the fourth-busiest entertainment venue in the world, attracting thousands of visitors and supporting jobs in various sectors.



Read more at CNBC: Three booming businesses that make Denver stand out