FROM THE
Unleash Prosperity Hotline

Colorado’s Rocky Mountain Low

Speaking of places in decline, look at Colorado. For decades Colorado was the exemplary purple state governed by Republicans and Democrats with an aim toward economic growth.  A Democratic governor and GOP legislature approved a flat-rate income tax in the 1980s and in the 1990s voters passed TABOR, the toughest limit on spending of any state.

Colorado’s economy soared, and as recently as 2016 the state ranked third in CNBC’s annual rating of best states to do business. The new CNBC ratings are out and the state has now slid to 25th place. It now ranks 32nd in the quality of its infrastructure and 38th in the cost of doing business.

The slide really accelerated in 2018, when radical progressives took control of both houses of the state legislature. Since then, taxes, homelessness, and regulations have soared.

Since 2022, the state has seen a net loss of 34 public company headquarters as they escaped its new anti-business climate. A recent loss is the high-tech firm Palantir, which has packed up and gone to Miami.

The Colorado Chamber Foundation issued a study this year warning the state was scaring away corporate expansions and entrepreneurs. That analysis was endorsed by one of our favorite Democrats, Governor Jared Polis, who has tried with only limited success to corral the state legislature.

Polis is term-limited and the strong favorite to replace him is activist state AG Phil Weiser, who never met a business he didn’t want to investigate. It looks like Colorado became a state 150 years ago with a vibrant frontier spirit. But, thanks to “Blue State” blues, its run of success may be coming to a screeching halt.

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