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New Business Filings Show Growth in Colorado

 

DENVER, April 12, 2018 — New business filings in Colorado increased 32 percent this quarter compared to last quarter, according to the latest report analyzing Colorado Secretary of State data.

Over the 12 months ending March 31, a total of 120,870 new business filings were recorded with the Secretary of State’s office. In the first quarter, business entities in good standing reached 677,537 — a record for Colorado.

“I am pleased to see Colorado’s economy begin 2018 in such a strong and stable position,” Secretary Wayne Williams said. “We continue to see low unemployment, higher average wages and increasing numbers of new businesses forming in Colorado. I am very encouraged by this report and share in Colorado business leaders’ optimism for our second and third quarter.”

According to the Bureau of Labor Statistics, 103,000 jobs were added nationally in March 2018, a slowdown from the prior two months. Colorado added approximately 63,400 jobs year-over-year.

“Based on the filings and employment data, Colorado isn’t slowing quite as quickly as we initially believed,” said Richard Wobbekind, executive director of the Business Research Division at the Leeds School of Business. University of Colorado Boulder.

The division, at the University of Colorado Boulder, publishes the Quarterly Business & Economic Indicators Report using data from the Secretary of State’s central business registry.

The report looks at a variety of factors, such as energy costs, the labor market and inflation. Through the end of 2017, GDP, employment, and wages all increased while the unemployment rate in December remained at 4.1 percent for the third consecutive month.

Filed Under: AgricultureConsumer IssuesEconomyEmploymentFeaturedMedia Release

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