Colorado's
Competitiveness

Business
Climate

Workforce &
Talent

Cost of Living

Quality of Life

Manufacturing
& Tech

Colorado Scorecard

Colorado's Competitiveness

Key Competitiveness Rankings

Best State for Business

16th


(Declining)
Cost of Doing Business

39th


(Declining)
Energy​

16th


(Improving)
Legal Climate​

21st


(Unchanged)
Best Economy

4th


(Declining)
Best State to Start a Business

7th


(Declining)

Key Tax Rankings

Corporate Income Tax Ranking​

7th


(Unchanged)
Individual Income Tax Ranking

13th


(Improving)
Business Tax Climate​

27th


(Declining)

By the Numbers

Companies Who Will Invest Out of State​

46%
Business Confidence Index​

46.7


(Increasing)
GDP Ranking​

15th


(Unchanged)

Colorado Tourism

Travel Spending​

$28.3


Billion

(Increasing)
Tourism-Generated Employment

187,710

jobs

(Increasing)
Number of Visitors

93.3


million

(Increasing)

Best State for Business Ranking

2024 ranking: 16th
2023 ranking: 11th
2022 ranking: 4th

Source: CNBC Top States for Business

Cost of Doing Business Ranking

2024: 39th
2023: 38th
2022: 36th

Source: CNBC Top States for Business

Energy Ranking

2024: 16th
2023: 28th
2021: 17th

Source: U.S. News

Legal Climate Ranking

2024: 21st
2019: 21st
2017: 35th

Source: U.S. Chamber Institute for Legal Reform

Best Economy

2024: 4th  
2023: 3rd
2022: 2nd

Source: US News

 

Best State to Start a Business

2024: 7th
2023: 4th
2022: 4th

Source: Wallet Hub

Corporate Income Tax Ranking

2024: 7th
2023: 7th
2022: 6th

Source: Tax Foundation

Individual Income Tax Ranking

2024: 13th
2023: 14th
2022: 14th

Source: Tax Foundation

Business Tax Climate Ranking

2024: 27th
2023: 21st
2022: 20th

Source: Tax Foundation

Companies Who Will Invest Outside of Colorado

2023: 46%

Source: Colorado Chamber Business Leader Survey

Business Confidence Index

2024: 46.7
2023: 44.1
2022: 41.1

Source: The Leeds Business Confidence Index

GDP Ranking

2023: 15th
2022: 15th
2021: 16th

Source: U.S. Bureau of Economic Analysis

Travel Spending in Colorado

2023: $28.3 Billion 
2022: $26.1 Billion
2021: $21.1 Billion

Source: Colorado Office of Economic Development & International Trade

Tourism-Generated Employment

2023: 187,710 jobs
2022: 176,800 jobs
2021: 161,100 jobs

Source: The 2023 Economic Impact of Travel on Colorado 2023 Report

Number of Visitors

2023: 93.3 million
2022: 90 million
2021: 84.2 million

Source: Colorado Office of Economic Development & International Trade