New-business filings indicate continued employment growth for Colorado

DENVER — Colorado saw just more than 27,000 new business entity filings during the third quarter, leading economists to believe the state’s employment growth is poised to continue.

Colorado Secretary of State Wayne Williams on Thursday morning released the University of Colorado Boulder quarterly indicators report, which analyzes data from the state’s business registry.

The 27,008 new business filings were down from the second quarter but marked an increase of 7.3 percent over the third quarter of last year. Over the past 12 months, the state has seen 108,068 new entity filings, a boost of 5.2 percent over the previous 12 months.

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“This data confirms that Colorado is likely to see continued, moderate employment growth into 2017,” Richard Wobbekind, executive director of the Business Research Division at CU’s business school, said in a news release.

In addition to the new entities, there were 119,385 business entity renewals during the quarter, up 4.1 percent from the same period a year ago.

The state finished the quarter with 619,477 total entities in good standing.

“Several months ago our office was excited to surpass a record of 600,000 business entities in good standing,” Williams said. “I’m happy to report that business formation continues to accelerate beyond that number.”