Issues That Will Present Opportunities and Challenges for Colorado in 2014

horvath Colorado Economic Forecasts, Colorado Economy

The improving global economy will support broad-based growth of the U.S. economy and vice versa.  In turn, Colorado will enjoy its strongest job growth in over a decade. Click here to review the CBER forecast and other economic reports.  Some of the opportunities and challenges for 2014 are listed below.

Opportunities

  1. Both Global and U.S. Real GDP are projected to increase at rates greater than 2013. Will that translate into a 4th consecutive year of rising job growth for the state?
  2. After the dysfunctional 2013 Colorado legislative session, a threat by counties to secede from the state, and two successful recalls, are legislators ready to work together for the good of the state?
  3. How much will the passage of Amendment 64 benefit the state fiscally? Will tax revenues exceed enforcement, social, and opportunity costs?
  4. Primary jobs are essential to the economy because they create wealth and usually pay higher than average wages. Will 2014 be the year that there is a stronger increase in primary jobs?
  5. Will Colorado’s strategy to attract millenials prove to be an effective economic development strategy?

Challenges

  1. Are global financial sectors in the mature economies stable? Are financial bubbles looming on the horizon?
  2. Will U.S. monetary policy be conducive to growth of the global economy? Will Janet Yellen be able to unwind Quantitative Easing without drastically raising inflation or the causing a downturn in the equity markets?
  3. Is U.S. public and personal public debt excessive? Will Americans manage their finances more responsibly?
  4. Will the off-year elections bring about more conflict, change, or more of the same?
  5. Will gun-control legislation,  anti-fracking efforts, energy legislation that hurt rural Colorado, and other anti-business activity create the impression that Colorado is not business-friendly?
  6. What does Mother Nature have in store for Colorado in 2014?
  7. Will 2014 be the year Colorado begins adding establishments at a significant level?

The most critical item on the list of opportunities and challenges…Will Peyton Manning bring a Super Bowl to Denver in 2014? Go Broncos!

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