Centennial Economics Supports the Colorado Business Roundtable (COBRT) in Conducting their Spring Executive Outlook

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In March and April 2026, Centennial Economics supported the Colorado Business Roundtable in developing their spring executive outlook. The full report can be found here. This survey is the second iteration of the same survey questions. The first survey was conducted in the fall of 2025.

The survey polled 51 business leaders (CEOs, Presidents, or other executives) on their perspective on the business climate in the United States and Colorado. Questions included their perception of the economy in general, their company’s ability to expand sales, and their company’s outlook over the next 6-12 months on investment in Colorado and the US and employment. Two questions were also asked on how favorably they viewed the policy environment at the federal level and within Colorado.

The survey results paint a nuanced picture of the economic mindset among senior business leaders. While executives remain broadly confident in their own organizations, the survey reveals a persistent and widening gap between how leaders view the national business climate and conditions in Colorado. Across nearly every category—economic outlook, investment plans, workforce decisions, and policy impact—sentiment toward Colorado is notably weaker than sentiment toward the United States overall.

Understanding where and why these differences exist is critical for business leaders, policymakers, and economic stakeholders navigating the months ahead

Business Climate Outlook: A Clear National–State Divide

Executives continue to see a stark contrast between the trajectory of the U.S. economy and Colorado’s business environment.

Colorado’s outlook is decisively pessimistic. Six in ten executives expect Colorado’s business climate to decline. Only about one in ten believe Colorado’s climate will improve, even though that figure represents a slight uptick from the fall survey. The dominant view is that Colorado continues to lag the nation due to affordability challenges, regulatory burden, and state policy decisions that directly influence competitiveness.

At the national level though, outlooks have softened since Fall 2025, reflecting heightened uncertainty driven by the conflict in Iran and the resulting energy price volatility. Trade disruptions also appear to have had an effect. Even so, opinion is mixed rather than overwhelmingly negative. In the Spring 2026 survey, roughly one-third of executives expect the U.S. business climate to improve over the next six months, while just under half expect conditions to worsen and about a quarter anticipate no change.

Employer Confidence: Businesses vs. the Broader Economy

Despite broader economic unease—especially at the state level—business leaders remain confident in their own companies’ ability to succeed. Nationally and in Colorado alike, most employers expect their organizations to remain stable or grow. Nearly nine in ten executives anticipate sales will either increase or hold steady over the next six months, a stronger showing than in Fall 2025. This optimism reflects confidence in internal strategy, adaptability, and demand rather than faith in macroeconomic conditions.

Investment Outlook: More Capital Nationally Than in Colorado

Planned capital investment highlights one of the clearest divergences between U.S. and Colorado sentiment.

At the national level, optimism improved from the fall. Over 40% of respondents expect their U.S. capital spending to increase in the coming months compared to 26% in fall. In Colorado, investment sentiment was essentially unchanged from the fall to the spring. Fewer than three in ten executives expect in-state investment to rise, and a majority anticipate flat spending.

Workforce Plans: Stability, But With Caution in Colorado

Workforce plans remain generally stable, with most executives expecting to maintain or expand employment—but again, geography matters.

Nationally, hiring expectations have improved modestly and are moving back toward neutral territory, signaling that employers see fewer immediate labor market risks across the U.S.

In Colorado, workforce expectations reveal guarded stability. Three-quarters of respondents plan to either maintain or grow their Colorado workforce over the next year, and the share expecting job cuts declined since the fall survey. Still, about one in ten employers expect to reduce their in-state workforce, and a small portion (2%) are considering leaving the state entirely.

Leaders pointing toward workforce reductions in Colorado consistently cited high costs of living and an unfavorable business environment—factors that are far less frequently mentioned when discussing national employment decisions.

Policy Impact: The Largest Source of Divergence

Perceptions of policy have shifted at the national level, but remain significantly less favorable than the state level.

About half of respondents in the spring survey believe federal policy will negatively impact their business, driven primarily by trade uncertainty and geopolitical risk. This is up from about 30% in the fall survey.

State policy in Colorado is viewed as a clear drag on business confidence as well, and to a more extreme level. More than 80% of executives say Colorado’s policy environment is negatively impacting their business—up from 65% from the fall survey. Centennial Economics notes that the state legislature is taking steps to alleviate some of the regulatory burden in Colorado with the introduction of SB26-137 which would strengthen legislative oversight of the state’s regulatory code and require more frequent regulatory reviews.

Tax policy further underscores this divide. When asked about proposals to shift Colorado from a flat income tax to a progressive system, over half of respondents said such a move would negatively or very negatively affect the state’s business climate. Only about one in ten saw potential benefits. These concerns compound existing unease around regulatory complexity and competitiveness.

What This All Means

Taken together, the Spring 2026 Executive Outlook tells a consistent story: business leaders are resilient, adaptive, and confident in their organizations—but increasingly cautious about Colorado’s long-term trajectory.

National sentiment has weakened somewhat due to global and political uncertainty, yet it remains materially stronger than sentiment toward Colorado. Across business climate expectations, investment plans, workforce strategies, and policy perceptions, the U.S. consistently outperforms Colorado in executive confidence.