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Old 03-11-2020, 12:31 PM
 
Location: Denver, CO
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How dependent is Denver's economy on the Energy Sector? Are people expecting a lot of layoffs if the oil price war doesn't end soon? I'm interested specifically on the impact on tech jobs.
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Old 03-11-2020, 12:37 PM
 
Location: Aurora, CO
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Quote:
Originally Posted by mkwensky View Post
How dependent is Denver's economy on the Energy Sector? Are people expecting a lot of layoffs if the oil price war doesn't end soon? I'm interested specifically on the impact on tech jobs.
Denver has a sizable O&G presence, but the economy is fairly well diversified. An O&G slowdown wouldn't have near the impact here that it does in a place like Houston. Places like Weld County (Greeley) will be more severely impacted due to a contraction in field jobs.
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Old 03-11-2020, 03:08 PM
 
Location: 0.83 Atmospheres
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Our economy used to be very dependent on O&G, but it has significantly diversified into tech, aerospace, tourism, and other sectors.
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Old 03-13-2020, 10:26 AM
 
Location: Taos NM
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It'll have a bigger impact than Denver's peer cities like KC or Columbus, but not as big of an impact as Houston / Dallas. It'll be a noticeable dent into the CBD office activity, but it shouldn't cascade over the whole city.
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Old 03-13-2020, 10:48 AM
 
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All the companies and most of their employees are so used to the boom/bust nature of the biz and relatively little of the drilling actually occurs in Colorado. When I did research on the industry back in the 90s every exec team had the equivalent of an "Oh S*** plan" that would cut corporate costs by at least 30% that could be implemented in a few days. The costs that are hard to take out and most painful on people are shutting down production, which is mostly in other states. Those are the ones that lead to thousands of people packing up their things and moving away, destroying those in the local economy who remain behind.
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Old 03-15-2020, 04:49 PM
 
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Denver is the O&G hub for many areas in the West outside of Texas, especially the Dakota's but also Western Canada (including Edmonton and Calgary areas) which all feed down to Denver. I did a marketing implementation for a O&G company in Downtown Denver in late 2016 and they had a ton of presence in Canada reporting down to the Denver HQ.


IIRC, it's a moderately large industry in Denver but not overly dominant like in Houston.
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