Colorado Tech Book 2017
According to CBRE’s annual Tech Book, at least 40 tech companies expanded their presence in Colorado in the past year, with the downtown Denver area as an epicenter of technology growth. While venture capital funding for Colorado tech companies dropped in 2016 compared to 2015, 2017 has experienced an increase. In terms of leasing patterns, new companies often look for co-working spaces, while rapidly expanding companies tend to be interested in offices located in convenient neighborhoods near amenities.
2017 State Business Tax Climate Index
Each year, the Tax Foundation releases its Tax Climate Index that ranks the 50 states in terms of how well state governments structure their tax systems. Colorado ranks #18 overall, but ranks #15 for Individual Income Tax. Wyoming, South Dakota, and Alaska are the top three states. The Tax Foundation states that the absence of a major tax is a common factor among many of the top 10 states.
October Economic Databook
The Federal Reserve Bank of Kansas City’s Economic Databook for Colorado provides economic indicators such as employment, home prices, and exports to help monitor trends. The monthly report states that Colorado’s unemployment rate in September was 2.5 percent, and total payroll employment grew 1.6 percent compared to the previous year. For year-over-year employment change by industry, Professional and Business Services, Transportation and Warehousing, and Healthcare and Social Assistance grew the most.