With 26,085 business filings in Colorado during the second quarter of 2015, employment in the state is expected to expand during the third and fourth quarters of the year, according to a University of Colorado Boulder report released today by Colorado Secretary of State Wayne Williams.
The forecast points to an average monthly job growth of 2.6 percent year-over-year in 2015.
The quarterly indicators report, prepared by CU-Boulder’s Business Research Division at the Leeds School of Business, uses data from the secretary of state’s business registry.
“Our office continues to help Coloradans put their ideas into the marketplace to grow our state,” said Williams. “It is encouraging to see continued business growth in Colorado.”
The second-quarter new entity filings are down from 28,115 new businesses formed in the first quarter of the year, but up from 24,602 during the same period in 2014.
Colorado recorded 105,202 new entities during the 12-month period ending in June.
“The rate of job growth over the past four months has been in the 2 to 3 percent range, robust by national standards but slower than the 3 to 4 percent range experienced over the 16 consecutive prior months,” said economist Richard Wobbekind, executive director of CU-Boulder’s Business Research Division. “The business filings data, coupled with other data metrics, indicate Colorado remains on solid footing for future employment growth.”
Existing entity renewals decreased in the second quarter of 2015 to a total of 108,842, down from a record 126,274 last quarter, but up nearly 11 percent compared with the same period in 2014. Domestic limited liability companies represented the greatest increase in renewals among existing entities.
The number of Colorado entities in good standing went up in the second quarter to 577,452, up from 571,386 in the first quarter of the year.
Visit the secretary of state’s website athttp://www.sos.state.co.us/pubs/business/quarterlyReports/index.html to view current and past reports or to sign up to receive reports by email.
Richard Wobbekind, Leeds School, 303-492-1147
Brian Lewandowski, Leeds School, 303-492-3307
Elizabeth Lock, CU-Boulder media relations, 303-492-3117
Tim Griesmer, Colorado Dept. of State, 303-860-6903