More business creation. Colorado performs particularly well in terms of small-business measures, scoring high relative to the nation with respect to new-business creation and returns on labor. The state’s large amount of public funding for small-business innovative research and technology-transfer grants also auger well for 2013.
An energized recovery. An economic recovery will mean increased demand for oil and gas. Also, technology is making Colorado’s oil and gas resources more accessible, economical and environmentally sustainable – holding promise for jobs, tax revenue and broad economic development.
A tech-charged recovery. The growing number of tech companies in the area should offer an opportunity for future business-development growth for companies throughout Northern Colorado.
Population growth. Job creation means more people. More people means more housing. More housing means more construction jobs.
Vitality in health care. Whether it’s a new hospital or an entirely new player in the market, jobs should abound in the health care industry.
5 Reasons for concern in the new year
Financing. Hesitant investors and wary banks could impede growth or even squelch budding businesses.
Fear of the fiscal cliff. This could drive legislators to pursue policies that will throw the economy back into recession – stopping job-creation and hurting consumer demand.
The competition. States like Texas and Georgia are offering large incentives from cash to land and reduced utility rates.
Red tape. Excessive enforcement of outdated regulation is damaging to all.
Water supplies. Without a return to normal rainfall, the region will continue to face issues related to the drought.