The Silicon Valley has nothing on Colorado when it comes to connectedness in the home. Coloradans may love the rustic outdoors of the Rocky Mountains but they also love to share – and via the internet is the way they go, saysNathaniel orr a lifelong Colorado resident and alumni of Colorado State University. In fact, the U.S. Census Bureau said that “… of the Coloradans that access the Internet, 72% access it in their home, compared to the national average of 67%,” according to the Colorado Office of Economic Development and International Trade.
Colorado is a culture of sophistication when it comes to telecommunications. Only recently Forbes magazine named Denver as number 7 on the list of “The Most Wired Cities” in America which accounts for access options and the number of high-speed Internet providers, according to the Colorado Office of Economic Development.
So, why is Colorado such a connected state? Turns out that the state has a five year strategic plan to partner with the private sector to enable broadband connectivity to all Coloradans, according to the Colorado Office of Economic Development. This dedication to expanding its broadband footprint has ensured that its citizens have access to the latest and greatest in technical resources. In addition, Colorado just happens to be home to major cable operators such as Comcast and Sprint Nextel and others, notes Nate Orr.
All of these resources have enabled the Colorado Broadband Data and Development Program (CBDDP) to be created via a grant from the National Telecommunications and Information Administration (NTIA) for broadband mapping and planning, notes the Colorado Office of Economic Development.
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A business – foreign or domestic – looking to relocate some or all of its offices and facilities may want to consider Colorado as a viable option. The state of Colorado has some of the most business-friendly tax structures in the United States, explains Nate Orr, a lifetime Colorado resident works for a top ranked general contractor in Denver, Colorado.
According to the Colorado Office of Economic Development and International Trade, Colorado has among the lowest income tax rates of any state with a corporate income tax as well as the lowest sales tax of states that assess a state sales tax and best of all, the third-lowest residential property tax (in the state’s largest city). There are many benefits that new legislation has brought to businesses – giving more incentive for global corporations to settle in Colorado – filled with opportunity.
Colorado’s individual (personal) income tax rate is a flat 4.63%. Colorado’s estate and trust income tax (sometimes referred to as “fiduciary” income tax) is also a flat 4.63%.The state sales tax rate in Colorado is 2.9%. City and county local taxes vary, says Nathaniel Orr. These local taxes would be in addition to the 2.9% state sales tax rate. There are also certain special district taxes that may apply.
There has never been a better time to do business in Colorado, low taxes and a pro-business government has contributed to making Colorado one of the fastest growing states in the country.
Nate Orr explains that it is a testimony to the vibrancy of the state that we are able to support businesses with a competitive tax structure while maintaining our sophistication and innovation – not to mention – stunning beauty.
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If you ever thought about doing business in Metro Denver area – you should know it is a region that is growing and thriving in an unprecedented way that few cities in the US can match. Recently, the region had a 1.4 percent population growth rate between 2002 and 2012 and is consistently ranked as one of the fastest-growing cities in the nation, according to the Metro Denver Economic Development Corporation.
Demand for office high rise and industrial space is increasing as vacancies decline in the Metro Denver region. That said, the area is large and with a population at nearly three million people, metro Denver has the variety, the resources and the sophistication to meet nearly any business need. Lying at the foot of the breathtakingly beautiful Rockies and a mile above sea-level, metro Denver’s serene natural beauty intermixed with exciting city life, not to mention sun practically year-round – has a bit of everything for both businesses and families looking for a vibrant and growing area to settle down.
The Metro Denver area has a number of areas for any type of business. If you’re a business that yearns to be housed the tall high rise or your needs tend toward the industrial park area, the metro Denver area has plenty of both – allowing employers and business owners to pinpoint the area of their exact needs, according to Metro Denver Economic Development Corporation. Competitive real estate pricing has made finding office and manufacturing space easy and affordable. Looking at the Denver area by office versus industrial park space, here are a few facts from the Denver Economic Development Corporation:
- Office – Office vacancy rate decreased from 12.7 percent in the third quarter of 2012 to 12.4 percent in the fourth quarter – which demonstrates the growing trend of more businesses filing into the mile high city. The metro Denver Economic Development Corporation says there was about “…535,200 square feet of positive net absorption in the fourth quarter, compared to negative net absorption of roughly 27,800 square feet in the third quarter.”
- Industrial – “Metro Denver’s industrial market vacancy rate decreased from six percent in the third quarter of 2012 to 5.4 percent in the fourth quarter. Fourth quarter net absorption was positive and totaled about 1.54 million square feet, compared to about 745,800 square feet in the third quarter,” according to the Metro Denver Economic Development Corporation.
For more information about doing business in the Metro Denver area, log onto http://www.metrodenver.org/ to learn more about this vibrant and growing region.
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Metro Denver was recently named one of the top 20 real estate markets in the United States to watch in the “Emerging Trends in Real Estate 2013” report released in October by by PricewaterhouseCoopers LLP and the Urban Land Institute.
Although Denver experienced a slowdown during the recession, it was able to withstand the downturn better than other markets and there were fewer foreclosures and a lower inventory of properties on the market.
Denver, Colorado ranks 14th in development prospects and 15th in homebuilding.
The optimism for 2013 is supported by numbers released in late November. The S&P/Case-Shiller Home Prices Index, stated that Metro Denver home resale prices have not been this high since October 2007.
Denver home prices were up 6.7 percent in September from the same period in 2011. The only housing markets with higher percentage gains than Denver in the year ending in September were Phoenix (+20.4 percent), Minneapolis (+8.8 percent), Detroit (+7.6 percent), San Francisco (+7.5 percent) and Miami (+7.4 percent).
The Denver metropolitan area real estate market, slowly recovering from its recession lows, is showing improving fundamentals, capital availability, asset pricing and transactions and builders are optimistic that the favorable environment will continue into the new year.