Denver, CO – February 5, 2020 – Citywide Banks released the results of its annual business poll* of attendees at its 2020 Economic Forecast Forum. The poll was taken during online event registration by over 300 CEOs and senior executives from companies across the Front Range.
In 2020, 71% of business executives predict positive growth, compared to 68% in 2019. Local businesses are also planning to add employees, with 54% saying yes compared to 44% from last year. With more companies planning to add employees, it’s no surprise that businesses also said the cost of labor will be the biggest factor to their growth in 2020, as opposed to last years’ top response of customer demand.
The final question asked businesses about the top issue Colorado needs to resolve. Traffic congestion topped the list followed by affordable housing, both of which were the top issues last year as well. With significant growth in the state over the past couple of decades, these responses are consistent with the last two years.
What is your prediction for the Front Range economy in 2019?
Flat - No Growth
Does your company plan to add employees in 2020?
Which factor will impact your company's growth the most in 2019?
What is the top issue the state of Colorado needs to resolve?
*Citywide Bank Business Poll is not scientific.2020 Citywide Banks Business Poll Results Reflect Steady Growth in Colorado