Recently, CNBC listed Colorado as the eighth best state for business. This is a notch lower than last year’s mark of seventh and it is tied with the position it held in 2012. Essentially, Colorado has stayed about the same in this regard over the past few years. The question is, how does it improve?
Of course, consistently landing in the top 10 is still impressive, and the state’s commitment to innovation is one of the big reasons why.
“The Centennial State is focused on innovation,” CNBC said in its report. “Its workforce is dynamic and capital is abundant, but high business taxes and cost of living can make things rocky.”
Continuing this commitment can help Colorado become a leader in new technologies and services that spawn from innovative development. In fact, Denver is doing this now by enhancing its public transit system. According to an article in CityLab, by 2018, when all but one of its 10 proposed FasTracks lines should be completed, the population will be served by nine rail lines, 18 miles of bus rapid transit, and 95 stations.
That is part of the equation. What will help Colorado become a better hub for business is an improved infrastructure that can meet a greater need for wireless accessibility and an influx of new machines and devices relying on online connections to function. Colorado can continue its push toward stronger communications if local businesses invest in the network, devices and services needed to do so.
New technologies are continuing to reshape the way we do business, and early adopters can fuel local trends that improve their area as a whole. Cloud based services will be relied on to provide local companies with the virtual infrastructure needed to grow. Even the smaller companies in the area can benefit with small business VoIP, among other telecom solutions that can improve efficiency.
Colorado is in a good position, but it can improve with the help of innovative products and services supported by a stronger network.