Economic Picture Improving for Many Colorado Municipalities
A new survey of 63 Colorado cities and towns finds that nearly two-thirds say their local economies are getting better.
According to the survey by the Colorado Municipal League, 62% of its members say their economic picture is improving, in amounts ranging from ‘slight’ to ‘strong.’ Another 30% rated their economies as ‘flat,’ and 8% said thing are getting worse.
The study suggests the improvements are partly due to communities investing in economic development.
“Tourism promotion, business incubators, streetscape improvements, upgrading infrastructure, Buy-Local retail campaigns—they’re really making an effort to boost their local economies, and it’s proving to be very successful,” says Lisa White, Membership Services Manager with the CML.
She adds that improvement at the community level is benefiting the state's economy as well. Statewide, sales tax revenues increased 6.5% in the first four months of this year over the same time period last year. While only a third of municipalities saw increases in sales tax revenue in 2010, that number jumped dramatically to 81% this year.