Williams releases second quarter Economic Indicators Report
DENVER, July 24, 2015 - Colorado Secretary of State Wayne Williams today released the Quarterly Business and Economic Indicators Report for the second quarter of 2015. The second quarter saw continued growth in new business filings and existing entity renewals year-over-year. The employment forecast points to average monthly employment growth of 2.6% year-over-year in 2015.
“Our office continues to help Coloradans put their ideas into the marketplace to grow our state,” Secretary Williams said. “It is encouraging to see continued business growth in Colorado.”
In the three-month period ending in June, there were 108,842 business entity renewals, a decrease from the first quarter but an increase of 10.8% since the second quarter of 2014. Limited liability companies drove year-over-year growth in entities in good standing.
“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.”
During the second quarter, a total of 26,085 new businesses filed with the Secretary of State’s office, a decrease from the first quarter of 2015 but a 6% increase over the prior year. Colorado recorded 105,202 new entities during the 12 months ending in June—a 13.6 percent increase over the previous twelve months. The second quarter finished with 577,452 total entities in good standing in the business registry, a 7.2% increase over the prior year.
Published by the Business Research Division at the Leeds School of Business, University of Colorado Boulder, the Quarterly Business and Economic Indicators Report uses data from the Secretary of State’s central business registry.
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