The Metro Denver Economic Development Corporation (Metro Denver EDC) released its eighth edition of Toward a More Competitive Colorado (TMCC), an annual benchmark report of Colorado’s strengths, challenges and opportunities for future job growth and economic expansion.
First published in 2005, TMCC is the foremost effort to compare Colorado’s competitive position against the other 49 states. The study is developed by the Metro Denver EDC’s Chief Economist, Patty Silverstein of Development Research Partners, and is presented in cooperation with Wells Fargo.
According to Silverstein, several years of TMCC data shows that Metro Denver and Colorado may be moving past what is termed a “boom and bust” economy, which are cycles characterized by extremely rapid economic expansion, in many cases based in one industry, followed by rapid and extended contractions.
This year’s report shows that Colorado is among the top-10 states for employment growth in 2011 at 1.7 percent, up from 40th last year, and posted the fourth-fastest growing population base.
Report findings also solidify Colorado’s dominant position among its competitors when it comes to innovation. Through challenging economic times, the state has maintained top-five rankings for venture capital as a percent of state GDP, initial public offerings, Small Business Innovation Research Grants, and entrepreneurial activity.
Denver—February 16, 2012—Colorado business leaders are feeling confident about the 2012 economy, according to the Experience Factor Market Pulse survey results released today. One hundred business leaders responded to the survey, which polled executives on Colorado’s economic prospects in 2012 and whether firms will be hiring, among other issues.
The survey found 81 percent of executives believe the economy will do better in 2012 than last year. Sixty-three percent of respondents said they will hire this year. Asked to estimate how many staff they would add, 43 percent of executives said they would hire up to 10 people, and 9 percent said they will hire more than 50 people this year.
Colorado business leaders are feeling confident about the 2012 economy, according to the Experience Factor Market Pulse survey results released today. One hundred business leaders responded to the survey, which polled executives on the prospects of the 2012 Colorado economy and whether firms will be hiring, among other issues.