Region’s executives see little change in Q4

Executives in the Boulder Valley and Northern Colorado expect little change to employment levels in the fourth quarter, with 67% anticipating no change to their companies’ staffing levels.

That’s according to the fourth-quarter CEO Roundtable Executive Survey, conducted by BizWest. The quarterly survey focuses on C-level executives in the Boulder Valley and Northern Colorado. BizWest conducts CEO Roundtables in both areas, with executives gathering to discuss trends, opportunities and challenges within their industries.

About 67% of respondents expect no change in employment in the fourth quarter, with 23% expecting a moderate increase in hiring, 1% expecting a strong increase, 8% expecting a moderate decrease and 1% expecting a strong decrease.

Similarly, capital expenditures are expected to remain flat for a majority of respondents, with 62% anticipating no change, 12% expecting a moderate decrease, 9% expecting a strong decrease, 13% a moderate increase and 4% anticipating a strong increase.

Overall business conditions compared with six months ago were rated “about the same” by 53% of respondents, with 18% describing conditions as worse and 30% as better. About 47% of respondents expect business conditions to remain about the same in the fourth quarter, with 35% expecting improvement and 18% anticipating worsening conditions.

Among other considerations for regional executives:

• Minimum wage: New minimum-wage requirements at the state, county or local levels are having no effect on 58% of respondents, with 28% describing it as having a somewhat negative effect, 10% very negative impact and 4% somewhat positive impact.
• Housing availability: 72% of respondents said that housing availability was having a negative impact on their employees, with 54% describing it as somewhat negative and 18% viewing it as very negative. Respondents who viewed housing as having no effect on their employees totaled 26%. Just 2% of respondents said that housing availability was having a somewhat or very positive impact.
• Construction of new facilities: About 30% of respondents said their companies might require construction of new facilities in 2025, with 1% having definite plans, 8% somewhat likely, 18% considering one or more projects, 3% already under construction and 71% not at all likely.
• Office-space requirements: More than half of respondents — 60% — anticipate no change in office-space requirements in 2025, with 1% expecting a strong increase, 10% a moderate increase, 3% a strong decrease, 5% a moderate decrease and 21% responding “Not applicable.”

Factors affecting business strategy in 2025 include inflation, 59%; interest rates, 79.5%; labor supply, 44.9%; politics/growth limitations, 44.9%; the U.S. presidential election, 55.1%; supply chain, 17.9%; geopolitics, 19.2%; cybersecurity issues, 12.8%; and other issues, 9%.

Respondents hailed from a variety of industries, including agribusiness, banking and finance, brewing, business services, construction, government, health care, life sciences, manufacturing, natural products, nonprofits, outdoor industry, real estate, renewable energy, and technology.

BizWest’s CEO Roundtable program is sponsored by Plante Moran and Berg Hill Greenleaf Ruscitti LLP in the Boulder Valley and Northern Colorado. Bank of Colorado sponsors the program in the Boulder Valley, and Elevations Credit Union sponsors in Northern Colorado.

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