Happy Tuesday!
As we count down to Election Day on November 5, we want to remind you that the Fort Collins Area Chamber of Commerce has made it a priority to be the lead “voice of business” articulating the perspective of business and ensuring public officials and residents understand the importance of a thriving business community to community quality of life and the impact of the business environment on business location decisions.
To assist business owners, employees and residents in making informed voting decisions, we provide a number of election resources including recommended positions and links to other resources.
After in-depth review by staff, the Local Legislative Affairs Committee (LLAC), the Northern Colorado Legislative Alliance (NCLA) and the Board, the Fort Collins Area Chamber has elected to take the following positions on issues:
Ballots must be returned to the County Clerk by 7pm on November 5.
In other news, It’s time again for our monthly update to the Economic Tracker. Your Fort Collins Area Chamber, working with other economic development and business support organizations across the region, created a tool to track the economic recovery in Northern Colorado.
This valuable resource is a set of indicators that represent critical aspects of the Larimer and Weld County economies, is based on data that is accessible in a useable format and is updated frequently with little lag time. The Economic Tracker provides great insight into the impact of the pandemic and recession on Northern Colorado.
The most recent update to the Tracker includes the following insights from our Economic Analyst, Caroline Alexander:
The news has been full of talk about the Fed and its impact on the economy since they began raising interest rates. With recent news – a rate cut, stronger-than-expected employment growth, the unemployment rate hovering near full-employment, and inflation approaching the Fed’s target rate – JP Morgan announced this morning that they are seeing their earnings results to be consistent with a soft landing. We don’t have a great way to measure inflation at the local level, but the monthly updates of Northern Colorado’s economic data are also consistent with a soft landing. Over the last 12 months:
- The labor market has softened and the labor force has grown
- Nonfarm employment has continued to rise and so have average hourly earnings
- Retail sales have been strong, home prices have resumed increases, and construction activity (building use tax) continues to be strong
In all, the data paints a positive picture of the Northern Colorado economy.