With eyes to secure a foothold in a growing client base spanning the Southwest, 5W PR, a top 20 leading PR firm recently opened their Denver office. This office will provide PR for both corporate and consumer-centered clients. This move expands the possibilities and practice of 5W Public Relations. Ronn Torossian, the founder and CEO of 5W Public Relations, feels strongly about the opportunities existing in Denver – but others also believe in Denver’s positive business climate.
“A city like Denver from the beginning was a central place,” said Mario Polèse, an urban economics professor at the Institut National de la Recherche Scientifique in Montreal. “It was destined to grow.”
Denver was recently named as one of Forbes’ ten fastest growing cities in the U.S. In 2014, the city surpassed its yearly oil production record. The population growth in Denver in 2014 was 1.74 percent. Unemployment was 4 percent, job growth at 2.66 percent, and median pay at $64,300 with the median yearly pay based on employees who had received college degrees. From a business perspective, the city has one of the most educated workforces. But Denver also has a relatively young workforce with the median age of 35.
Its location just east of the Rocky Mountain range invites mining, tech and energy companies to settle there. But Denver is a city with great cultural advantages as well, many nationally recognized museums call Denver home, including a new wing for the Denver Art Museum, the second largest performing arts center (Lincoln Center in New York City is first), There are neighborhoods with distinct flavors such as LoDo (lower downtown), sporting many bars, clubs, art galleries, and restaurants. Denver’s reputation includes active, outdoor oriented environment with year-round possibilities because of sunny weather – even in bitter cold.
The City of Denver recently released its 2015 Economic Forecast, researched by Patty Silverstein. She is the chief economist for the Metro Denver Economic Development Corp. This report projects strong economic development performance for the Denver metropolitan area throughout fiscal year 2015. The statistics combine Denver’s increasing employment and consumer spending to generate the positive report.
Educated Millennials are ready for the workforce. Positive housing statistics add to the city’s attractiveness for workers and businesses, influencing how the City is doing business every year. Job growth is expected to reach 3 percent by the end of the year, giving the City’s populace roughly 45,000 new employment opportunities.
As far as 5WPR is concerned, Denver, Colorado is a wonderful location to introduce their services because the City hasn’t yet been fully scaled. There’s huge growth potential still, and an almost unlimited potential for finding great employees.
“It’s an exciting time for 5W Public Relations,” said Torossian. “We’re continuing to grow, and these expansions are the natural next step for us as an agency. As we’ve steadily increased our footprint both in Denver and within the digital marketing space, these moves make perfect sense for our team and our clients.”
The City’s economic factors show strong signs of growth and, as the City’s population has increased by 53,000 since 2014, its rate of unemployment has also dropped from 5 percent to 4. Beyond that, there are positive indicators for businesses created and moving upward over the next several years. Providing potential clients for 5WPR and other service agencies building power bases in and around the Denver area.
But, who knows what’s in Denver’s future. What we can say is a top 20 firm like 5WPR entering the market and fighting to position itself as the leader in public relations in Denver can only bode well for the Denver PR industry.