On Thursday, January 9th, Governor Hickenlooper declared that despite the national economy’s downturn the “state of our state is strong”.  The governor presented various pieces of evidence to support his claim including: Colorado’s low unemployment rate, the strength of the small business startup sector, record tourism numbers, and how Colorado is ranked in the top five by multiple studies for business and job growth.

 

Here are some additional stats that the Governor mentioned regarding the strength of our state economy:

 

·      Colorado’s unemployment rate of 6.5% is at its lowest levels since 2008

·      Colorado’s economy has seen growth for 4 straight years

·      A study by The University of Colorado’s Leeds School of Business predicts robust job growth in virtually every sector of the economy for 2014

·      4 of the top 10 and 5 of the top 20 cities in the U.S. for startups are in Colorado: Boulder, Fort Collins, Denver, Colorado Springs, and Grand Junction

·      Colorado earned an A for small business climate from the Kauffman Foundation

·      In 2010 Colorado was ranked the 40th state for job growth, in 2013 it ranked 4th

 

I firmly believe that Colorado is poised for explosive growth over the next five to ten years, especially amongst small businesses. Currently, what state is better to do business in? When you consider the growth of the Colorado economy that Governor Hickenlooper explained in his State of the State Address, and considering the natural beauty that this state has to offer, where else would an entrepreneur want to be? From the Front Range and beyond, there are business opportunities in this state, despite the economic climate around the country. From a small business owners perspective, its exciting to be a Coloradan right now.