Williams releases third quarter Economic Indicators Report

DENVER, Oct. 27, 2015 - Colorado Secretary of State Wayne Williams today released the Quarterly Business and Economic Indicators Report for the third quarter of 2015. The third quarter saw a decline in new business filings from the previous quarter and year-over-year. Existing entity renewals increased from the previous quarter and versus the prior year.

"Despite the decrease in new business filings since the previous quarter, Colorado is nearing a major milestone of having 600,000 business entities in good standing," Secretary Williams said. "Coloradans continue to eagerly put their ideas into the marketplace."

In the three-month period ending in September, there were 114,676 business entity renewals, an increase of 5.5 percent since the third quarter of 2014. Limited liability companies once again drove year-over-year growth in entities in good standing.

"Although new filings are down quarter over quarter and year over year the level is sufficient to sustain continued growth in the economy albeit at a slower pace," said economist Richard Wobbekind, executive director of CU-Boulder’s Business Research Division.

During the third quarter, a total of 25,164 new businesses filed with the Secretary of State’s office, a decrease from the second quarter of 2015 and a drop of 9 percent since the prior year. Colorado recorded 102,724 new entities during the 12 months ending in September—a 3.4 percent increase over the previous twelve months. The third quarter finished with 587,740 total entities in good standing in the business registry, a 6 percent increase over the prior year.

Published by the Business Research Division at the Leeds School of Business, University of Colorado Boulder, the Quarterly Business and Economic Indicators Report uses data from the Secretary of State’s central business registry.

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