2019 Citywide Banks Business Poll Results Reflect Slowing Growth in Colorado

Denver, CO – February 25, 2019 – Citywide Banks released the results of its annual business poll of attendees at its 2019 Economic Forecast Forum. The unscientific poll was taken during online event registration from late December through early February. The event was attended by 400 CEOs and senior executives from companies across the Front Range.

Respondents significantly softened their outlook for the local economy in 2019. 68% of business executives predict positive growth in the current year, compared to 91% of respondents a year ago.  According to the poll, less local companies plan to add employees too. Just 44% say they plan to add employees, compared to 56% of respondents last year.

Businesses said customer demand will be the biggest factor to their growth in 2019. Last year, the availability and cost of labor was the top response in the poll.

The final question asked businesses about the top issue that Denver needs to resolve. Traffic congestion topped the list followed by affordable housing. Both issues are connected to the state’s booming growth over the past two decades. These same two issues also led the results when the question was asked two years earlier. However, in 2017, businesses said affordable housing was the top issue followed by traffic congestion.

 

What is your prediction for the Front Range economy in 2019?

  • Positive Growth
    • 2019 Poll: 68%
    • 2018 Poll: 91%
  • Flat - No Growth
    • 2019 Poll: 28%
    • 2018 Poll: 7%
  • Decline
    • 2019 Poll: 4%
    • 2018 Poll: 2%

 

Does your company plan to add employees in 2019?

  • Yes - 44%
  • No - 35%
  • Not Sure - 21%

 

Which factor will impact your company's growth the most in 2019?

  • Customer Demand - 33%
  • Labor Availability/Cost - 26%
  • Real Estate Prices - 24%
  • Available Credit - 5%
  • Industry Regulation - 4%
  • Business Taxes - 3%
  • New Technology - 3%
  • Value of U.S. Dollar - 2%

 

What is the top issue the City of Denver needs to resolve?

  • Traffic Congestion - 39%
  • Affordable Housing - 31%
  • Construction Regulations - 12%
  • Attract New Businesses - 9%
  • Mass Transit - 5%
  • Local Taxes - 3%
  • Security on Streets - 1%
    News 2019 Citywide Banks Business Poll Results Reflect Slowing Growth in Colorado