An Economy that Works for Everyone

Together, Colorado can unleash an economy that works for everyone and makes our state a global magnet for new talent and companies.

We are home to deep reservoirs of talent in space and aerospace, energy and engineering, bioscience and advanced manufacturing, consumer and enterprise technology, and cutting-edge quantum science. Our state boasts world-class universities, research institutions, and federal labs that routinely produce technologies that will power the next 75 years of economic growth. We have one of the most innovative agricultural economies in the world and we are home to the highest concentration of Nobel Laureates in quantum, a reflection of the diversity of talent that our high quality of life attracts.

Yet, we know Colorado is losing our edge. Over the last decade or so, more and more families, including our child care workers and nurses, are discovering that other states are becoming much more affordable than Colorado. Colorado businesses, both small and large, are wrestling with a constantly evolving set of rules and regulations that deter them from expanding, prevent them from investing, and give site evaluators from other states a reason to look elsewhere. And, this is all happening as technological innovation is transforming our economy at an unprecedented pace.

In a world where Colorado is increasingly competing for new businesses and talent, we must act urgently to win the jobs we need to support a vibrant economy and build the future our kids deserve. And, we must compete without abandoning our commitment to ensure that every family, rural and urban, has a chance at Colorado’s version of the American Dream. 

As the only candidate in this race who has led large organizations through difficult times, balanced budgets, and created jobs, Michael believes we will only achieve this goal through a sustained commitment to building an economy that works for everyone, driven by a statewide coalition of business, labor, educators, and non-profits that works together to engage and unleash the imagination and independent spirit of Colorado’s citizens. As governor, he will lead a statewide effort to:

1. Advance a long-term strategy to foster innovation, support new small businesses, and drive growth; 
2. Build a thriving Colorado workforce supported by an affordable cost of living and a high-quality education system; and
3. Transform our state government so it is ready to meet the needs of the modern economy.

1. Advance a long-term strategy to foster innovation, support new small businesses, and drive growth: Starting and growing a new business in Colorado should be easy, and Colorado should be the first place innovators and investors look when starting a new business or considering capital deployment. Michael will partner with labor and the private sector to support companies and employees by:

• Building a Long-Term Strategy to Accelerate Small Business Growth and Innovation in Colorado: Michael will work with Colorado’s business community, technology sector, labor, and community leaders to develop a nimble, long-term strategy to strengthen small business growth and encourage innovation across the state. This strategy will: (1) update and align state incentives to ensure they are competitive and support business growth on the Front Range and in rural Colorado; (2) deepen vertical clusters where Colorado is already leading, including in quantum, aerospace, clean energy, and biotech; (3) develop new tools and incentives to address gaps in capital access, encourage startups to build here, and keep our high-growth, job-creating companies in the state; (4) build a coordinated effort to revitalize struggling small business sectors; and (5) further capitalize on Colorado’s strategic advantages including our incredible opportunities for outdoor recreation, our unparalleled geographic position, and existing world-class talent.
• Activating New Capital Investment in Colorado: New businesses rely on capital to start and grow. Michael will work to make financing more available to new and growing businesses across Colorado. He will establish a new Local Capital Fund that allocates capital to local financial institutions, including Community Development Financial Institutions (CDFIs), to deploy in their communities. Michael will also grow relationships with national and international funders, working with them to partner and expand investment into Colorado through co-investment with state programs and opportunities for assistance in state-level permitting and other regulatory requirements.
• Establishing Colorado Tech for Tomorrow Partnerships: Michael believes Colorado should harness emerging technologies to make everyday life easier, lower health care costs, improve government services, and expand access to quality education. He will work with Colorado’s technology and community leaders to convene  Colorado Tech for Tomorrow Partnerships between innovators, industry, community, and government to co-design solutions that are practical, effective, and responsive to real-world needs.
• Bridging the Commercialization Gap and Increasing Success Rate: Colorado’s colleges, universities, and national labs – and the students, researchers, and academics who work there – have already served as the origin for a number of Colorado’s most cutting-edge companies. Michael will aggressively support the transition from experimental research to commercialized technology. He will create a state-wide technology transfer assistance office that coordinates with institutions of higher education, research labs, and entrepreneurs on commercialization of their technologies, and ensures low-cost intellectual property filing systems are accessible for these offices and the researchers they support. 

2. Build a thriving Colorado workforce supported by an affordable cost of living and a high-quality education system. The shifting demands of Colorado’s economy requires an adaptable workforce. Michael will lead a statewide effort to make Colorado the best place for people to live and work, through:

• Tackling Colorado’s Affordability Crisis: Cost-of-living is a key driver for employers seeking to grow or relocate their business. Michael will take a comprehensive approach to making Colorado more affordable that includes tackling the costs of housing, health care, education and child care so that everyone can live and thrive in Colorado. See Michael’s plans for housing, health care, and child care.
• Building an Education System that Can Compete: Michael will bring together employers, labor leaders, educators, and communities to fund and build an integrated education-to-workforce system that keeps up with a rapidly changing economy. He will provide educators more flexibility to deepen partnerships with employers and expand access to career training and apprenticeships. Michael will also strengthen Colorado’s education system to meet critical workforce demands in high-growth sectors, foster entrepreneurship, and equip students with the skills to lead and adapt to emerging technologies. See Michael’s education and workforce plan.
• Providing More Options for Affordable Health Care: Currently, state employees serve as one of the largest employee groups in the state, and benefit from high-quality health coverage. At the same time, small businesses are left to negotiate for health care on their own–leaving them more vulnerable to higher costs. Michael will launch a pilot program to give small businesses the opportunity to buy into state health coverage. Michael will also work with state health care leaders, advocates, and federal partners to design and launch a new Colorado Public Option for Coloradans who earn too much to qualify for Medicaid but still struggle to afford coverage on the individual marketplace. See Michael’s comprehensive health care plan here.

3. Transform our state government so it meets the needs of the modern economy: Our state government is struggling to keep up with the demands of our time, and preventing us from meeting the needs of Coloradans across the state. Michael will drive a long-term fiscal, regulatory, and tax strategy that looks beyond the next fiscal year to the investments and strategic choices needed to build Colorado’s future, including: 

• Working Together to Build a Competitive Regulatory Environment: Michael will work with Colorado’s business community and workers to collaboratively build a competitive regulatory environment in Colorado that protects Coloradans and communities, and that enables Colorado companies to start, grow, and integrate new technology, like AI and quantum. As part of that effort, Michael will launch a comprehensive review of state regulations that apply to small businesses. The review will require agencies to take concrete steps to (1) simplify compliance requirements, and (2) eliminate duplicative or overlapping regulations. Michael will also require every state agency to identify specific actions they will take to improve service delivery for Colorado’s businesses and workers. 
• Inviting Colorado Technology Leaders to Help Make Government Work Better: States and municipalities around the country have shown how to procure and deploy new systems that radically increase efficiency and improve results. Coloradans have always embraced the pace of change – it is time for our public sector to do the same. Michael will work in partnership with Colorado technology leaders to employ the latest tools to make government work better. He will allocate a specific percentage of the state procurement budget for Colorado innovators with fast-track procurement windows. He will also create a centralized procurement portal that posts procurement requests, offers detailed feedback on unsuccessful bids from local companies, and offers a transparent application and review process.
• Working with Local Governments to Cut Permit Approval Times: Unpredictable permit approvals can be a strain on a new business trying to get started. Many of the permits businesses need to operate are managed at the local level. Michael supports local efforts to cut licensing and permitting times for businesses. He will also require state agencies that approve permits and licenses to set predictable timelines for approval, and he will work with agencies to cut approval times where possible through integrating technology and other tools.