A record number of entities filed as new businesses in ihe first quarter of 2023, up 27.6% year-over-year, according to the Colorado Secretary of States Office.

The surge is likely due to a fee credit that reduced limited liability filing fees to $1.

In addition, Colorado’s job growth slowed in early 2023, growing 1.2% year-over-year in March.

“Evidence is emerging that Colorado is a growing- but-slowing economy based on slower growth from GDP, personal income, retail, and employment; and declines in home prices and construction,” the report states.

Inflation improved in the first quarter as price growth decelerated. And annual delinquency and dissolution filings increased in the first quarter, according to the report.

To read the full report visit bit.ly/42qxLOK

(Left) A graphic from the Secretary of State’s report shows mostly growth, quarter over quarter (Below) This graph shows an increase in employment and new entity filings in 2023. Screenshots