THRIVE, a Paychex Business Podcast

How is Colorado Gov. Jared Polis Attracting Businesses to His State?

April 5, 2022

Jared Polis, Governor of Colorado, and an entrepreneur in his own right, joins the show to discuss the ways his state is helping small businesses succeed. Some initiatives include reducing fees startups would pay to incorporate, temporarily waiving state sales tax for restaurants to offset pandemic pressures, and encouraging apprenticeships to help job seekers upskill into open work roles. Hear how PPP loans have sustained Colorado businesses, the $6 billion in venture capital attracted last year, and what Gov. Polis (D-CO) sees as additional opportunities to ensure a robust recovery.  

Topics include:

0:58 - Colorado reduced business personal property tax
1:34 - Will it be free to start your business there?
2:53 - Many CO businesses received PPP loan support
3:22 - Restaurant sales tax waived for several months
3:57 - Consumer behavior a factor; PPP led to robust recovery
4:52 - Colorado seeking to reduce fees, suspend gas taxes, more
6:14 - Polis urging flexible hiring, ex: 2 PT hires fill 1 FT post
7:49 - Apprenticeships also key in CO workforce readiness
8:37 - Most CO employers paying well above minimum wage
9:42 - Multiple factors attracting startups to Colorado

Resources:

Gov. Polis shared how many Colorado businesses are paying above minimum wage to attract skilled workers. If you employ workers in or from Colorado, read our recent article on changes in some minimum wage provisions that may apply to you at www.paychex.com/articles/compliance/colorado-minimum-wage-order.

Does Colorado’s Equal Pay for Equal Work Act apply to your business? Read our article to learn more at www.paychex.com/articles/compliance/colorado-equal-pay-act.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.