Colorado leaders warn of a "deteriorating" business climate
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Days after a damning report about the state's economic climate, a bipartisan coalition of local tech and business leaders issued an open letter to state officials warning that "the foundation of Colorado's technology and business leadership is deteriorating."
Why it matters: The unprecedented letter, signed by more than 230 business and community leaders, reflects growing alarm about Colorado's eroding reputation as an innovation hub.
Driving the news: The ad-hoc organization, Ensuring Colorado's Innovation Future, cites Palantir's relocation and a new Colorado Chamber report showing rising business exits as signals that the state is at an inflection point.
- The letter lists nine demands to shift Colorado's direction with concerns specifically about pending restrictions on artificial intelligence and other labor and environmental regulations that act as barriers to growth.
- Other recommendations urge Colorado leaders to publicly affirm their ambition to become a national leader in technology and innovation.
Between the lines: The coalition addressed the letter to Gov. Jared Polis, U.S. Sens. Michael Bennet and John Hickenlooper, Colorado Attorney General Phil Weiser, and Denver Mayor Mike Johnston.
What they're saying: "The letter reflects real concern from founders, investors, and operators that Colorado's current trajectory could impact our ability to attract and retain companies, capital, and talent in an increasingly competitive environment," said Dan Caruso, a signee and founder of Caruso Ventures and Zayo Group.
What we're watching: The Polis administration — which initially defended its economic record on economic development in a statement to Axios Denver — is now taking notice.
In a statement, Polis, a former tech entrepreneur, promised to convene business leaders in the coming weeks to "identify actionable steps on the matters listed above to support long-term growth and competitiveness."
- "I hear clearly the feedback from founders, investors, and employers, and we are committed to ensuring Colorado is an even better place where companies can grow, innovate, and create opportunity," Polis added.