Business Friendly States: Colorado in Profile

Business Friendly States: Colorado in Profile

Entrepreneurs looking to fast track their business will want to take note of the state of Colorado when considering where best to locate their company. According to major sources such as Forbes and CNBC, Colorado is the number one state, primarily for its labor force, and is anticipated to see skyrocketing growth over the next 5 years in business profit as well as household income levels. Colorado is consistent in being ranked within the top 10 of all 50 states when it comes to business friendliness and opportunities.

Economic Climate of Colorado

The financial aspects of creating and growing a business are quite promising throughout the state of Colorado. The cost of operating a business is well below the national average, giving new and relocating companies the opportunity to see more of their profit going into the development of their business. The ease in factors such as buying business real estate property, purchasing personal property, obtaining capital, and locating affordable equipment throughout the many metropolitan areas throughout Colorado make it an ideal choice for entrepreneurs.

Larger businesses and corporations with plans that include investing in the state or providing innovation to the companies or residents of Colorado are rewarded by the state's competitive tax structure. There is also a wide range of tax incentive programs in place for companies that service or supply industries including biotechnology, healthcare, or airspace fields that are located throughout Colorado.

Employment and Education in Colorado

It is important to note that out of all top 10 business friendly states throughout the country; Colorado is the only state that has not implemented the national Right to Work program. However, with leading educational facilities that have an emphasis on providing their students with educations in areas of business, healthcare, technology, education, and other such areas, Colorado does have one of the strongest and largest emerging workforces around.

Top universities and technical trade centers including University of Colorado in Boulder, University of Colorado in Denver, Metropolitan State College of Denver, Colorado State University, Regis University, and University of Denver are working with businesses of every shape, size, and industry to provide them with affordable solutions for staffing Colorado based businesses while providing their students with real-world hands on experience in the fields of their choice. Businesses that work with these schools in implement training programs on site are gaining the opportunity to take part in what is being seen as one of the most successful staffing structures throughout the United States.

Working and Living in Colorado

It is the unique environment found in Colorado that many entrepreneurs are drawn to. Colorado does offer relaxed surroundings with vast mountains, rivers, streams, and other outdoors amenities. These areas create the ideal setting for setting up a home to raise families and to simply enjoy what the world has to offer. Even the metropolitan cities throughout Colorado provide a relaxed atmosphere. Combined with affordable real estate, individuals are able to purchase existing homes or have new homes constructed to meet their needs at a prices within their budget. Excellent schooling, public works services, museums, art facilities, libraries, innovative medical care facilities, and other such services situated throughout most communities of Colorado offer the best of both worlds.

Major private employers that enjoy the positive aspects of Colorado's business climate include companies such as Denver International Airport, Lockheed Martin, Exempla St. Joseph Hospital, University of Boulder, Memorial Hospital North, Century Link, Keystone Lodge, Hewlett-Packard, and Western Union, just to name a few. Knowing that these leading companies are heading their industries have only provided added confidence to new and emerging business owners.

In Conclusion

Whether your business venture plan is focused on retail, healthcare, education, technology, manufacturing, or one of the other many industries our world depends on regularly, you will find the opportunities that are available in Colorado ideal for growth and success. This state offers a business friendly environment complete with tax incentives, leading logistical solutions, and more that will provide the support necessary for most business ventures. Adding in the natural beauty of the surroundings found throughout the state is an extra bonus.