COLORADO PERCEPTION STUDIES

EXECUTIVE SUMMARY

April 18, 2016

 METHODOLOGY

Online survey conducted in March 2016.

Senior corporate executives with site selection

responsibilities from both in- and out-of-state. (87
responses).

Location Advisors/Site selection consultants from

across the United States (60 responses).
 RESPONDENT PROFILE

Corporate respondents headquartered in 22 states.

Average Number of Employees Top Industry Sectors Represented

Over 1,000 1. Professional, scientific and

employees
(please indicate Less than 50 technical services
total employees,
employment),
20%
28%
2. Advanced /electronics
manufacturing
750 to 999
employees,
10% 3. Software/ICT
50 to 99
employees, 6%
4. Financial services
500 to 749
100 to 499
employees,
14% employees, 5. Transportation /logistics
22%
 KEY TOPICS

1 Familiarity with the State

2 Perceptions of Colorado

3 Colorado as a Business Location

4 OEDIT Marketing Efforts

FAMILIARITY WITH THE STATE
 BEEN TO COLORADO?

Site Selectors Out-of-State Executives

No No
10% 8%

Yes
Yes
90%
92%
 PURPOSE OF VISIT

Out-of-State Executives Site Selectors

90% 81%
80% 76%
72%
70% 65%
60% 52% 52%
50%
37% 37%
40%
30%
20%
20% 13%
10% 7%
0% 2% 2%
0%
 MOST RECENT NEWS

Marijuana legalization 26.2%

Broncos / Super Bowl 10.7%
Peyton Manning retirement 6.8%
Snow/skiing 6.8%
Nothing recently 6.8%
Business expansions/relocations
(DaVita, Fidelity, Lockheed Martin) 5.8%
"Best Places" Rankings 1.9%
Lack of industrial space 1.9%
PERCEPTIONS OF COLORADO
STRENGTHS
WEAKNESSES
ASSOCIATED WORDS
COLORADO AS A BUSINESS LOCATION
AS A BUSINESS LOCATION, COLORADO MAKES
ME FEEL

70%
59.6%
60% 56.6%
52.2%
50% 47.8%

40.4%
40%

30%

20%
9.6%
10%

0%
Optimistic and Emboldened by Happy and Inspired Proud to be part Other
confident smart & engaged productive (or become part)
workforce of a progressive
business culture
AS A BUSINESS LOCATION, COLORADO MAKES ME FEEL

In-State Executives Site Selectors Out-of-State Executives

69%
Happy and productive 40%
76%

59%
Emboldened by smart & engaged
55%
workforce 58%

53%
Optimistic and confident 42%
84%

47%
Proud to be part (or become part) of
30%
a progressive business culture 48%

38%
Inspired 17%
68%

19%
Other 8%
6%

0% 20% 40% 60% 80% 100%

 FOR PEOPLE AND BUSINESSES WHO ARE NOT CONTENT WITH THE ORDINARY
IN THEMSELVES, THEIR WORK OR THEIR LIVES COLORADO IS THE STATE THAT
CONSTANTLY REVEALS AND INSPIRES THE EXTRAORDINARY IN HOW WE PLAY, WORK,
CREATE, FEEL AND LIVE.
On a scale of 1 (not reflective) to 10 (highly reflective)

10

9
8.0
8
7.4
6.9
7

1
In-State Executives Site Selectors Out-of-State Executives
 FOR PEOPLE AND BUSINESSES WHO ARE NOT CONTENT WITH THE ORDINARY
IN THEMSELVES, THEIR WORK OR THEIR LIVES COLORADO IS THE STATE THAT
CONSTANTLY REVEALS AND INSPIRES THE EXTRAORDINARY IN HOW WE PLAY, WORK,
CREATE, FEEL AND LIVE.

In-State Executives Site Selectors Out-of-State Executives

35%

30% 29%

26% 26%
25% 24%
22%
20%
20% 19%
17%
15%
15% 13% 13% 13%

10% 10% 10%

10%
6%
5% 4% 4% 4% 4% 4% 4%
2% 2%
0% 0% 0% 0% 0% 0%
0%
1 (not 2 3 4 5 6 7 8 9 10 (highly
reflective) reflective)
 RATING OF COLORADOS BENEFITS OVERALL AS
A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

10

9
8.0
8 7.6
7.1
7

1
In-State Executives Site Selectors Out-of-State Executives
 RATING OF COLORADOS BENEFITS AS A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

In-State Executives Site Selectors Out-of-State Executives

8.8
Healthy and diverse lifestyles 8.5
8.2

8.1
Openness & acceptance of new ideas 7.9
8.2

7.7
A breeding ground for startups 6.6
8.0

7.6
A creative and innovative workforce 7.6
8.1

7.2
A collaborative business environment 6.8
8.1

7.0
Vast economic opportunities 7.2
8.2

A continuous supply of brightest 6.8

6.8
minds and game changing discoveries 7.9

6.4
Easy access to all of Colorado 6.5
8.0

0 2 4 6 8 10
OVERALL RANKING OF COLORADOS BENEFITS

1. Healthy and diverse lifestyles

2. Openness & acceptance of new ideas
3. A creative and innovative workforce
4. Vast economic opportunities
5. A collaborative business environment
6. A breeding ground for startups
7. A continuous supply of brightest minds
and game changing discoveries
8. Easy access to all of Colorado
 RATING OF COLORADOS FEATURES OVERALL AS
A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

10

9
8.1
8 7.6
7.4
7

1
In-State Executives Site Selectors Out-of-State Executives
 RATING OF COLORADOS FEATURES AS A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

In-State Executives Site Selectors Out-Of-State Executives

8.8
A great quality of life 8.4
8.6
8.3
4 season climate 7.1
7.8
7.9
Highly skilled/educated overall population 8.1
8.3
World class research labs and leading 7.9
7.6
universities 8.5
Healthy economy with a reputation of 7.8
7.7
successful business 8.5
Global access with international airport and 26 7.8
7.7
regional airports 8.2
7.4
A growing and skilled millennial population 8.3
8.3
Easy access to networks, mentors, leaders and 7.2
7.1
regularly scheduled events 8.1
7.2
Collaborative business environment 7.3
8.5
7.2
Diverse, distinctive and vibrant cities & towns 7.4
8.1
7.1
A progressive and inclusive business culture 7.4
8.3
7.1
Vast cultural offerings 7.4
8.3

0 2 4 6 8 10
 OVERALL PERCEPTION OF COLORADO AS
A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

10

9
8.2
8 7.8
7.2
7

1
In-State Executives Site Selectors Out-of-State Executives
 OVERALL PERCEPTION OF COLORADO AS
A BUSINESS LOCATION
On a scale of 1 (poor) to 10 (excellent)

In-State Executives Site Selectors Out-of-State Executives

40%
37%

35% 33%

30%
30%
27% 27%

25%
22% 22%
20%
20%
17%

15% 13%
12%
10%
10% 9%

6%
5% 4%
3%
2% 2% 2% 2%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0%
1 (poor) 2 3 4 5 6 7 8 9 10
(excellent)
 RECOMMEND COLORADO AS A BUSINESS LOCATION?
On a scale of 1 (not likely) to 10 (very likely)

10

9
8.4 8.2
8
7.4
7

1
In-State Executives Site Selectors Out-of-State Executives
 RECOMMEND COLORADO AS A BUSINESS LOCATION?
On a scale of 1 (not likely) to 10 (very likely)

In-State Executives Site Selectors Out-of-State Executives

45%
39%
40%
34%
35% 32%

30%
26%
24%
25%
21%
19%
20% 18%
16% 16%
15%
10%
10% 8%
6% 6%
4% 4%
5% 2%
3%
2%
3%
2%
3%
0% 0% 0% 0% 0% 0% 0% 0%
0%
1 (not 2 3 4 5 6 7 8 9 10 (highly
likely) likely)
 LIKELIHOOD OF CONSIDERING COLORADO FOR
FUTURE INVESTMENT
On a scale of 1 (not likely) to 10 (highly likely)

10

9
8.3
8.0
8 7.8

1
In-State Executives Site Selectors Out-of-State Executives
 LIKELIHOOD OF CONSIDERING COLORADO FOR
FUTURE INVESTMENT
On a scale of 1 (not likely) to 10 (highly likely)

In-State Executives Site Selectors Out-of-State Executives

40%
35%
35% 33%

30%
27% 27%
26%
25% 24%
23%
22%
20%
20%
17%

15%

10% 9%
8%
6%
5% 4% 4% 4%
3% 3%
2% 2%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0%
1 (not 2 3 4 5 6 7 8 9 10 (highly
likely) likely)
OEDIT MARKETING EFFORTS
 MARKETING EFFECTIVENESS
On a scale of 1 (not effectively) to 10 (very effectively)

10

9
8.0
8

7
6.0 5.8
6

1
In-State Executives Site Selectors Out-of-State Executives
 MARKETING EFFECTIVENESS
On a scale of 1 (not effectively) to 10 (very effectively)

In-State Executives Site Selectors Out-of-State Executives

40%
36%
35%

30%
26%
25%
22%
20%
20% 19%
17% 17% 17%
15%
15% 14%
13% 13%
11%
10%
10% 8%
7% 7%
6% 6%
5% 4% 4%
3% 3%
2% 2%
0% 0% 0% 0% 0%
0%
1 (not 2 3 4 5 6 7 8 9 10 (very
effectively) effectively)
KEY FINDINGS
 THE STATE IS IN A STRONG POSITION

1. There is a very positive perception of Colorado as a business location -

particularly among out-of-state executives - and the emotional and tangible
benefits of operating in Colorado are well-understood.
2. Emotional ties to Colorado are a strong advantage when marketing to
corporate executives but less so when dealing with the site selection
community who can not let emotions come in to play during client projects.
3. There is room to improve how marketing efforts are perceived among in-
state executives and site selectors including addressing any misperceptions
that may exist (i.e., location/accessibility, impact of marijuana legalization,
cost of living etc.).