The document provides an economic update for the Denver metro area in 2010, summarizing key pieces of the economy that were affected by the recession, including consumer activity, housing, business activity, and government stimulus efforts. It analyzes data on GDP growth, consumer spending, unemployment, home sales, foreclosures, commercial real estate vacancies, and more. While some parts of the economy like consumer confidence and home prices were improving, unemployment was still rising and the full recovery remained uncertain. Government stimulus programs were helping offset state budget cuts and boost activity.

1. Picking Up The Pieces Metro Denver 2010 Economic Update June 2010

2. Real Gross Domestic Product Growth Source: U.S. Bureau of Economic Analysis.

5. Population by County 2009 Population = 2.83 million

6. Metro Denver Annual Change in Population Source: Colorado Division of Local Government

7. Consumer Confidence Index Source: The Conference Board.

8. Unemployment Rates (not seasonally adjusted) Metro Denver Total Labor Force = 1.5 million Sources: U.S. Bureau of Labor Statistics; CO Dept. of Labor & Employment.

9. Colorado Personal Income Growth Rate Sources: U.S. Bureau of Economic Analysis.

10. Dow Jones Industrial Average Source: Yahoo! Finance. 2007: 18% of U.S. families have stocks; 53% have retirement accounts

11. Metro Denver Real Retail Trade Sales Growth Rates Source: Colorado Department of Revenue.

12. Metro Denver Existing Home Sales Source: Metrolist, Inc.

13. Residential Mortgage Loans in Foreclosure or Delinquent Sources: Mortgage Bankers Association, National Delinquency Survey

14. Metro Denver Foreclosures Sources: CB Richard Ellis; County Public Trustees.

15. Median Home Price (in thousands) Source: National Association of REALTORS.

16. Metro Denver Building Permits Source: Home Builders Association of Metropolitan Denver.

18. Nonfarm Job Growth Rates Sources: U.S. Bureau of Labor Statistics; CO Dept. of Labor & Employment.

19. Metro Denver Net New Jobs Source: CO Dept. of Labor & Employment.

20. Key Metro Denver Industry Clusters Employment 2009 Job Growth Concentration Rank (50 metros) Aerospace 19,900 -1.2% 2 Aviation 15,700 -1.5% 10 Bioscience Pharmaceuticals & Biotechnology 5,600 4.5% 18 Medical Devices & Instruments 9,500 1.6% 6 Broadcasting & Telecommunications 41,400 1.7% 4 Energy Fossil Fuels 15,800 0.4% 8 Cleantech 16,300 4.6% 7 Financial Services Banking & Finance 44,000 -0.3% 4 Investments 23,300 0.3% 7 Insurance 26,700 -5.9% 23 IT/Software 42,300 -0.2% 9

21. Metro Denver Office Vacancy Rates (with sublet) Existing Square Feet = 163.0 million Completed 2009 = 1.6 MSF; Under Construction = 1.2 MSF Source: CoStar Realty Information, Inc.

22. Metro Denver Industrial Vacancy Rates (with sublet) Source: CoStar Realty Information, Inc. Existing Square Feet =214.7 million Completed 2009 = 0.2 MSF; Under Construction = 0 MSF

23. Metro Denver Retail Vacancy Rates (with sublet) Existing Square Feet = 155.3 million Completed 2009 = 2.1 MSF; Under Construction = 0.4 MSF Source: CoStar Realty Information, Inc.

26. U.S. Historic and Projected Budget Deficits by Fiscal Year ($bil) Source: Congressional Budget Office.

29. Year-Over-Year Growth in Exports Source: U.S. Department of Commerce, International Trade Administration. Key Colorado Trading Partners: Canada, Mexico, China, Japan, Germany Key Products: Computers and electronics, chemicals, processed foods, machinery

32. Development Research Partners 10184 West Belleview Avenue, Suite 100 Littleton, Colorado 80127 (303) 991-0070 www.DevelopmentResearch.net Patricia Silverstein, President [email_address]