Back to the Basics: Keeping Colorado’s Economic Engine Primed and Powerful
By: Kim Woodworth, Executive Director, Economic Development Council of Colorado (EDCC)
As we reflect upon Economic Development Week and the vital conversations we shared during our recent road trip around Colorado for EDCC’s Regional Networking Roundtables, I find myself deeply moved by the current state of our economy. Traveling across Colorado, I didn’t just see data points; I saw the dedication of people working to build something lasting. Those conversations have made one thing crystal clear: THE CALL IS NOW.
To my fellow Coloradans, our bootstrappin’ pioneers, and our collaborative, brave visionaries: we need to act. Economic Development is not just about building a thriving economy; it is about sustaining one through good times and bad.
I like to think of our economy as a high-performance engine. In this engine, every person— from the student, inventor or the entrepreneur, the large business, the contractor, or the supplier— plays a vital part. When every part works in harmony, the engine hums. But we must remember that when one part in the engine breaks, it slows the engine down. When many parts break, the engine stops entirely. Each part must be serviced regularly, upgraded, and primed for the road ahead.
The “parts” of our Colorado engine are sturdier than some headlines suggest. As of early 2026, small businesses represent 99.5% of our state’s businesses, employing 1.2 million people. They are the initial spark—the grit and the ingenuity that get the gears turning.
But even a high-performance engine needs more than just a spark to handle the long climb. It requires the collective power of our entire workforce of 3.1 million individuals. This includes the professionals at our medium and large-sized companies— the heavy-duty exporters that bring new wealth into our state—along with our world-class hospitals, innovative schools, universities, labs, and essential government agencies. Whether you work at a tech startup, a family ranch, or a major healthcare system, you are a vital nut or bolt in this machine.
While our engine is undeniably powerful, we must recognize its inherent fragility. Strength today does not guarantee momentum tomorrow. If we fail to continuously maintain these diverse parts—or if we ignore the friction created by shifting outside forces—the engine that feels so robust today can quickly become vulnerable. A machine this complex requires constant stewardship; without it, we risk losing the very speed and reliability we’ve worked so hard to build.
The Vital Bolts: Why Programs Matter
Economic and workforce development is a marathon, not a sprint; it is a “contact sport” that cannot be played in a vacuum. To keep our economic engine running at high performance, we must keep our foundational programs intact and our policies frictionless. These are the vital bolts that hold the engine together.
Our success depends on a vast network of partners: from economic and workforce development programs and small business support centers to community revitalization, Main Street teams, and our vibrant creative and tourism industries. These programs don’t just “exist”— they provide the essential maintenance that allows our businesses to pivot and our workers to upskill.
However, there is a cautionary tale we must heed: we cannot “service” this engine by adding friction. Closing budget gaps by increasing regulatory burdens or cutting the very programs that provide this maintenance is like throwing sand in the gears for short-term relief. When we protect these programs and reduce regulatory friction, we aren’t just helping a few businesses; we are protecting the long-term momentum and stability of all 3.1 million Colorado workers.
Getting Back to the Basics
To keep our engine primed, we must focus on three “Basics” that keep the machine running for everyone:
- Sound Business Environment to Maintain Operating Speed
Business is the “engine” of the economy. When businesses of all sizes can open and expand quickly and responsibly, they employ our neighbors, fuel the general fund, which pays for education, fire and police departments, roads, recreation and parks, a myriad of cultural and community services. We must audit our local, regional, and state regulations and processes to ensure they match the pace of 2026 and beyond.
- Eliminate outdated regulations and streamline development reviews.
- Create a predictable environment that encourages long-term investment rather than “short-term backfills” for budget gaps.
- Provide the physical and digital tools (broadband, roads, utilities) necessary for commerce to flow.
- Accelerating Human Capital: Building the Talent of Tomorrow, Today
A high-performance vehicle is useless without a skilled driver and crew.
- Integrate workforce training directly into the classroom so that “the talent of tomorrow” is ready for “the jobs of today.”
- Create communities where people want to live, work, and play, ensuring that talent stays local.
- Focus on quality jobs that allow for generational wealth and retirement, not just temporary growth.
- Community Robustness: A Self-Sustaining System
This is the “frame” that supports the entire machine. It ensures that economic success translates into a higher quality of life for everyone.
- Diversify the economy so that the tax burden is shared, funding essential services like fire, police, and schools without straining residents.
- Build a system that can withstand headwinds by relying on a locally informed, “nested” strategy like the Comprehensive Economic Development Strategy (CEDS).
- Ensure that economic prosperity reaches every corner of the state, from urban tech hubs to rural ranching and farming communities.
Our North Star: The People and the Plan
Our North Star is our people, and our roadmap is our Regional & Statewide Comprehensive Economic Development Strategies (CEDS). This isn’t a top-down mandate; it is a community-informed playbook built by “nesting” locally led regional strategies into one unified vision.
By rolling up the direct input of our regional businesses, local governments, and community partners, the CEDS ensures our data and investments align with real-world priorities. It is our collective “engine maintenance manual,” a shared strategy to ensure meaningful employment for our children and the families who will call Colorado home for decades to come.
The Rallying Cry
Everything we do—and every policy we pass—comes with a consequence. We can choose to highlight the negative, or we can choose to highlight what Colorado is known best for: collaborative, bootstrappin’ innovative pioneers who truly care about their neighbors.
THE TIME IS NOW. Let’s ensure every part of our economic engine is working properly, upgraded and future-proofed, and SERVICED REGULARLY.
We’ve got this… TEAM! Let’s come together, tune out the noise, and get back to what we know, and how to do best. Let’s keep this beautiful engine running, our home we call Colorado. You can’t drive a 2026 car with a 1976 owner’s manual.
And… what my dad always said, “Don’t ignore the check-engine light just because you’re worried about the cost of the oil change.”
Submitted by: Kim Woodworth, Executive Director, Economic Development Council of Colorado (EDCC)
As the Executive Director of the Economic Development Council of Colorado (EDCC), Kim Woodworth is a dedicated advocate for Colorado’s communities, working to ensure a stable and innovative environment for the state’s 3.1 million workers.