Colorado business leaders are much less worried about finding new workers than they were a year ago, but they have increasingly soured on the state’s regulatory climate, and a host of new labor laws passed in recent years are cited as a chief reason why.
“Having conducted more than 50 studies of businesses in other states, this is the greatest concern about the regulatory climate that I’ve ever recorded,” said Pat McFerron, president at Cole Hargrave Snodgrass & Associates, which surveyed 156 Colorado business leaders between June 26 to July 28.
McFerron, speaking on a Zoom call to discuss the results, said the high cost of doing business is causing a “striking” number of businesses based in the state to consider expanding and making investments elsewhere.
“Lawmakers need to understand that every new regulatory burden coming from the capitol has a real impact on jobs and economic growth. The data is clear – we’re losing out to other states because of our business climate, which is chipping away at our competitiveness and driving businesses to invest in other states,” said Loren Furman, president and CEO of the Colorado Chamber, which sponsored the survey.
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