Colorado’s entrepreneurial atmosphere is getting some attention from Washington.
A new survey from the U.S. Chamber of Commerce Foundation heaps praise on Colorado’s economy, while giving credit to the state's policies toward innovation.
“Colorado has attained top-tier status for its support of innovation, entrepreneurship, talent pipeline and overall economic activity,” the report says. “The state has made concerted efforts to build a strong entrepreneurial ecosystem, tying its economic strength to continued diversification and growth in its emerging high-tech sector.”
The survey looked at 35 metrics that measure a state’s overall economic vitality, and then identified key areas that affect job growth and economic health. Among those metrics, Colorado scored incredibly well.
According to the survey, Colorado has the second highest concentration of tech jobs, as well as the second highest rate of new startups in the country. We're also the second best state for small business lending, the fourth best for high tech performance, and the fourth highest ranked state for innovation and entrepreneurship. Not too shabby, and these achievements undoubtedly helped lead the state to achieve the fifth best overall economy in the nation.
The survey notes that Colorado sponsors the Advanced Industries Accelerator Growth Program, which provides grants to a number of high-tech industries. Combined, the industries that program supports accounts for 35 percent of the state's exports, and 30 percent of wage earnings.
The survey also points out the Colorado Impact Fund, which has $62.9 million in private investments, as boosting the state’s entrepreneurial activity.
Other states in the Mountain West also performed well, as did several states along the East Coast like Massachusetts, Maryland, Virginia, North Carolina and Florida.
Below you can find Colorado's full rankings, and you can find the full results of the survey here.
