BIOSCIENCE January 2017 Bioscience INDUSTRY PROFILE for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region
BIOSCIENCE Background With more than 15,60 bioscience workers at 670 companies, the nine-county region has a significant foundation on which to build and expand the bioscience industry. The region ranks 11th among the top 50 metro areas for 2016 employment concentration in medical devices and 2th for pharmaceuticals and biotechnology employment. The nine-county Metro Denver and Northern Colorado region1 is home to a vibrant and growing bioscience hub of research institutions, life science expertise, and more than 670 bioscience-related companies that are developing breakthroughs in life-saving treatments. More than 1 percent of the state s bioscience firms are located along the Front Range, with the center of the Rocky Mountain region s life science center located at the Fitzsimons Innovation Campus and the adjacent Anschutz Medical Campus. As one of the largest bioscience developments in the nation, the $5.4 billion project encompasses 57 acres and more than six million square feet of corporate and bioresearch space. The region s top-rated research and educational institutions and entrepreneurial infrastructure offers access to a high concentration of top-tier life science talent. Further, the region s supportive business climate and competitive tax structure have facilitated research, development, and manufacturing for bioscience companies. The region s bioscience cluster is a major contributor to the state s economy. More than 1,270 medical devices, diagnostics, and pharmaceuticals are in development and approved by companies headquartered in Colorado. In fact, Colorado s biotechnology and pharmaceutical industry alone adds as much as $14.5 billion to the state s economy, according to Pharmaceutical Research and Manufacturers of America. Source: Metro Denver Economic Development Corporation http://www.metrodenver.org/industries/bioscience/ Rankings Business Insider ranked Colorado s economy the third best in the country, based on recent change in housing prices, nonfarm payroll growth, unemployment rate, GDP per capita, average weekly wage, and state government surplus and deficit. Forbes ranked Metro Denver sixth of fastest growing cities in 2015. Factors that earned us this standing included our 4 percent unemployment rate 2.66 percent job growth rate. According to Money magazine, Denver is the best city to live in the West. The ranking called Metro Denver a mecca for millennials and that the city has relatively affordable real estate and great access to recreation. WalletHub ranked three Metro Denver cities among the best in the country for first-time home buyers: Centennial ranked third, Longmont ranked ninth, and Thornton ranked 10th.
BIOSCIENCE Employment Concentrations This map show where the highest concentration of employment are in the bioscience sector, by county, within the Central Planning Region. Top Employment Concentrations by County County 2016 Jobs Business Establishments National Location Quotient Boulder County, CO 5,249 16 3.30 Jefferson County, CO 4,36 194 2.10 Denver County, CO 2,034 239 0.4 Larimer County, CO 2,022 104 1.47 Arapahoe County, CO 1,90 14 0.6 Douglas County, CO 1,134 112 1.09 Broomfield County, CO 1,024 30 3.21 Adams County, CO 596 2 0.34 Gilpin County, CO <10 1 0.09 Clear Creek County, CO <10 4 0.20 Source: EMSI 2016.4 QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker+ 2
BIOSCIENCE Competitive Analysis This table shows employment within the Colorado Central Planning Region in the top 20 occupations in the sector. Regional wage ranges and the median wage are shown, with yellowed cells indicating where wage offers may have to fall to attract and retain qualified candidates based on labor supply (applicants per job opening). SOC Code Total Number Jobs (in industry) Total Number Jobs (across industries) Annual Openings Available Applicants Description 15-1132 Software Developers, Applications 351 20,232 724 263 13-2011 Accountants & Auditors 309 29,474 1,445 59 Software Developers, 15-1133 346 10, 335 142 Systems Software 51-901 Dental Laboratory Technicians 422 462 30 14 19-4021 Biological Technicians 34 2,469 109 52 Applicants Per Job Openings Median 10th Percentile 25th Percentile Average 75th Percentile 90th Percentile 0.36 $49.79 $31.66 $39.16 $4.92 $59.11 $71.44 0.41 $36.42 $20.67 $25.76 $33.14 $43.26 $56.06 0.42 $52.32 $32.72 $41.5 $51.50 $61.94 $74.5 0.47 $1.0 $12.27 $13.30 $16.03 $22.13 $27.06 0.47 $22.32 $13.99 $16.56 $20.95 $27.25 $33.53 43-4051 Customer Service Reps 395 32,907 1,634 23 0.50 $17.4 $11.50 $13.53 $16.57 $20.55 $25.13 19-2031 Chemists 464 1,646 64 35 0.54 $3.22 $19.02 $24.6 $36.74 $50.1 $60.02 17-2141 Mechanical Engineers 342 5,322 302 176 0.5 $44.36 $27.09 $33.11 $41.07 $54.1 $6.35 51-2092 Team Assemblers 403 4,114 201 123 0.61 $15.31 $9.91 $11.4 $14.34 $17.92 $22.59 51-9061 Inspectors, Testers, Sorters, Samplers & Weighers 359 3,357 163 101 0.62 $20.6 $10.94 $14.90 $19.29 $25.2 $32.5 17-2112 Industrial Engineers 335 2,557 129 4 0.66 $45.0 $27.60 $34.97 $43.9 $54.92 $65.19 43-5071 Shipping, Receiving & Traffic Clerks 252 7,44 227 17 13-1199 Business Operations Specialists, All Other 461 32,765 779 655 41-4011 41-4012 Sales Representatives, Wholesale & Manufacturing, Technical & Scientific Products Sales Representatives, Wholesale & Manufacturing, Except Technical & Scientific Products 47 5,36 15 156 526 23,672 750 65 43-6014 Secretaries & Admin Support Assistants, Except Legal, Medical & Executive 309 42,21 1,055 1,071 51-1011 First-Line Supervisors of Production & Operating Workers 274 4,364 125 131 11-1021 General & Operations Managers 402 30,440 1,31 1,613 51-2023 Electrical & Electronic Equipment Assemblers 397 2,76 66 3 51-2023 Electromechanical Equipment Assemblers 354 1,627 33 49 0.3 $16.23 $10.47 $12.57 $15.03 $1.9 $23.57 0.4 $3.46 $20.21 $26.2 $35.93 $47.24 $61.41 0.4 $50.76 $23.63 $32.7 $46.67 $62.25 $9.2 0.91 $34.32 $13.59 $19. $2.0 $40.02 $63.1 1.01 $1.22 $11.65 $14.37 $17.7 $22.00 $26.10 1.05 $29.62 $17.51 $22.10 $2.27 $35.37 $44.79 1.17 $64.77 $24.40 $35.5 $54.23 $4.55 $123.5 1.26 $16.96 $10.20 $11.92 $15.45 $20.62 $26.7 1.47 $17.14 $12.1 $15.0 $17.04 $19.15 $21.19 Source: EMSI 2016.4 QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker 4
BIOSCIENCE Industry Growth This table shows projected yearly job growth through 2020. The National Location Quotient shows the relative concentration of employment in this industry in the Colorado Central Planning Region versus the national average. For example, with a Location Quotient of 3.75, you would read, employment is 3.75 times more concentrated in the Colorado Central Planning Region than the national average. 4,500 3.50 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 2,392 2,93 3,990 3,347 1,6 1,990 96 1,026 1,510 1,656 3,776 4,116 1,039 1,12 3.00 2.50 2.00 1.50 1.00 0.50 0 0.00 2016 Jobs 2021 Jobs Electromedical & Electrotherapeutic Apparatus Manufacturing Medical, Dental & Hospital Equipment & Supplies Merchant Wholesaler Reasearch & Development in Biotechnology Dental Laboratories Testing Laboratories Surgical & Medical Instrument Manufacturing Analytical Laboratory Instrument Manufacturing National Location Quotient Source: EMSI 2016.4 QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker
BIOSCIENCE Difficult to Hire This chart shows the relationship between the number of job listings versus the number of hires for each of the top occupations in the sector. If there are more listings than hires, it suggests that there are not enough qualified people to fill all the jobs. If there are more hires than listings, it suggests there may be too many qualified people to fill too few jobs. Difficulty to Hire Very Easy Easy Medium Difficult Very Difficult Occupation (SOC) Avg Monthly Postings Avg Monthly Hires Hires Per Listing Team Assemblers 66 345 5.23 Electromechanical Equipment Assemblers 1 66 3.67 Shipping, Receiving & Traffic Clerks Chemists Secretaries & Admin Assistants, Except Legal, Medical & Executive 145 475 3.2 2 3 2.96 1,053 2,715 2.5 Inspectors, Testers, Sorters, Samplers & Weighers 90 203 2.26 Business Operations Specialists, All Other 763 1,677 2.20 General Operations Managers Sales Reps, Wholesale & Manufacturing, Except Technical & Scientific Products Electrical & Electronic Equipment Assemblers Customer Service Representatives Dental Laboratory Technicians 1,021 1,970 1.93 737 1,111 1.51 115 156 1.36 2,057 2,00 0.9 12 11 0.92 Accountants & Auditors 1,999 1,622 0.1 Biological Technicians Software Developers, Systems Software 122 94 0.77 59 437 0.73 Mechanical Engineers 330 224 0.6 First-Line Supervisors of Production & Operating Workers Software Developers, Applications Sales Reps, Wholesale & Manufacturing, Technical & Scientific Products Market Research Analysts & Marketing Specialists 502 213 0.42 2,697 65 1.32 6 207 0.24 67 102 0.15 6
BIOSCIENCE Top Jobs Top Jobs Currently Listed in the Central Planning Region, Last 120 Days Sales Representatives, Wholesale & Manufacturing, Technical & Scientific Products 41401100 42 Prior Year 59 Sales Managers 11202200 32 Prior Year 1 First-Line Supervisors of Office & Administrative Support Workers 43101100 25 Prior Year 16 Medical Equipment Preparers 31909300 21 Prior Year 11 Environmental Science & Protection Technicians, Including Health 19409100 19 Prior Year Stock Clerks- Stockroom, Warehouse or Storage Yard 4350103 1 Prior Year 7 Customer Service Representatives 43405100 16 Prior Year 20 Bill & Account Collectors 43301100 15 Prior Year 5 Marketing Managers 11202100 14 Prior Year 29 Licensed Practical & Licensed Vocational Nurses 29206100 13 Prior Year 0 Sales Representatives, Wholesale & Manufacturing, Except Technical & Scientific Products 41401200 13 Prior Year 20 Computer User Support Specialists 15115100 13 Prior Year 20 Registered Nurses 29114100 12 Prior Year 9 Respiratory Therapists 29112600 12 Prior Year 3 Medical Secretaries 43601300 11 Prior Year 2 Billing, Cost & Rate Clerks 43302102 11 Prior Year Source: Wanted Analytics Medical Equipment Repairers 49906200 10 Prior Year Healthcare Support Workers, All Other 31909900 10 Prior Year 3 First-Line Supervisors of Production & Operating Workers 51101100 Prior Year 19 Medical & Clinical Laboratory Technologist 29201100 Prior Year 0
BIOSCIENCE Training Pipeline Here are the top 20 jobs in the industry, by number employed and educational attainment level. High School or equivalent Sales Representatives, Wholesale & Manufacturing, Except Technical & Scientific Products SOC Code: 41-4012 2016 Jobs: 23,627 Annual Openings: 750 Regional Completions: 75 Completers/Opening: 0.10 Customer Service Representative SOC Code: 43-4051 2016 Jobs: 32,907 Annual Openings: 1,634 Shipping, Receiving & Traffic Clerks SOC Code: 43-5071 2016 Jobs: 7,44 Annual Openings: 227 Secretaries & Admin Assistants, Except Legal, Medical & Executive SOC Code: 43-6014 2016 Jobs: 42,21 Annual Openings: 1,055 Regional Completions: 45 Completers/Opening: 0.04 First-Line Supervisors of Production & Operating Workers SOC Code: 51-1011 2016 Jobs: 4,364 Annual Openings: 125 Regional Completions: 1 Completers/Opening: 0.01 Electrical & Electronic Equipment Assemblers SOC Code: 51-2022 2016 Jobs: 2,76 Annual Openings: 66 Regional Completions: 4 Completers/Opening: 0.06 Electromechanical Equipment Assemblers SOC Code: 51-2023 2016 Jobs: 1,627 Annual Openings: 33 Team Assemblers SOC Code: 51-2092 2016 Jobs: 4,114 Annual Openings: 201 Inspectors, Testers, Sorters, Samplers & Weighers SOC Code: 51-9061 2016 Jobs: 3,357 Annual Openings: 163 Dental Laboratory Technicians SOC Code: 51-901 2016 Jobs: 462 Annual Openings: 30 Completers/Opening: 0.10 Bachelor s Degree General & Operations Managers SOC Code: 11-1021 2016 Jobs: 30,440 Annual Openings: 1,31 Regional Completions: 6,04 Completers/Opening: 4.40 Business Operations Specialists, All Other SOC Code: 13-1199 2016 Jobs: 32,765 Annual Openings: 779 Regional Completions: 50 Completers/Opening: 0.06 Software Developers, Applications SOC Code: 15-1132 2016 Jobs: 20,232 Annual Openings: 724 Regional Completions: 91 Completers/Opening: 1.27 Software Developers, Systems Software SOC Code: 15-1133 2016 Jobs: 10, Annual Openings: 335 Regional Completions: 1,035 Completers/Opening: 3.09 Industrial Engineers SOC Code: 17-2112 2016 Jobs: 2,557 Annual Openings: 129 Mechanical Engineers SOC Code: 17-2141 2016 Jobs: 5,322 Annual Openings: 302 Regional Completions: 721 Completers/Opening: 2.39 Chemists SOC Code: 19-2031 2016 Jobs: 1,646 Annual Openings: 64 Regional Completions: 227 Completers/Opening: 3.56 Biological Technicians SOC Code: 19-4021 2016 Jobs: 2,469 Annual Openings: 109 Regional Completions: 1 Completers/Opening: 0.01 Sales Representatives, Wholesale & Manufacturing, Technical & Scientific Products SOC Code: 41-4011 2016 Jobs: 5,36 Annual Openings: 15 Regional Completions: 50 Completers/Opening: 0.27 Source: IPEDS Data Compiled by EMSI 2016.4
BIOSCIENCE Top Ten Below are the top five core skills, workplace skills, certifications and companies in the bioscience industry. Core Skills 1 Oral & Written Communication 2 Microsoft Office 3 Integrity 4 Detail Oriented 5 Troubleshooting Workplace Skills Certified Information Systems 1 Security Professional (CISSP) 2 Accounting Medical Device Directive 3 Certification (MDD) 4 OSHA Certification 5 Certified Scum Master Certifications 1 Top Secret Sensitive Compartmented Information (TS SCI) 2 Driver s License 3 Commercial Driver s License (CDL) 4 Food Safety Programs (HACCP) 5 Occupational Safety & Health Administration Certfication (OSHA) Companies 1 Apria 2 Medix School 3 Medtronic 4 Wesco International, Inc. 5 TestAmerica Source: Wanted Analytics
BIOSCIENCE Age Bands & Age Bands This age band graph shows the percentage of each age group currently in the bioscience industry workforce. 65+ 4.2% 55-64 19.2% 45-54 27.5% 35-44 25.9% 25-34 19.0% 19-24 4.1% 14-1 0.1% Source: EMSI Complete Employment 2014.2 Listing This graph shows the week over week volume of listings in the Central Planning Region. 400 350 300 250 200 150 100 50 0 Source: Wanted Analytics 10
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