Economic decline does not arrive all at once. It shows up gradually in the decisions companies make about where to invest, hire, and locate their headquarters. Denver has been losing ground in that competition.
Over the past decade, several high-profile companies with deep ties to Colorado have moved their headquarters elsewhere. Chipotle relocated to California. Molson Coors shifted to Chicago. VF Corporation announced plans to move to Texas. Since 2019, nearly 100 businesses have either left Colorado or significantly reduced their presence. At the same time, Denver lags peer cities in its share of Fortune 500 companies.
Downtown office vacancy rates have climbed above 30%, among the highest in the country. Colorado has also experienced net domestic outmigration in recent years, according to the U.S. Census Bureau. Fewer workers are choosing to move here and more are choosing to leave. That directly impacts the talent pool companies depend on.
These are not isolated events. They are signals…