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It takes a constant and coordinated effort to steady and direct the country’s economic future. And as the US remains a global leader in innovation, investments, and creativity, states like Colorado have proven fertile ground for national companies to invest, and homegrown startups to grow. But it’s no secret that we face continued economic competition with adversaries abroad, it has never been more important for Colorado’s leadership to protect our competitive edge.
While our greatest and most well-known global adversary may be China, we do not face one singular threat, but rather an array of global counterparts looking to outdo our products, inventions, and services. In the weeks, months, and years ahead, it is imperative that we champion the sectors of our economy that help establish and keep us as a leader, and that we do not sacrifice what gives us our global competitiveness.
Without question, the technology sector has given rise to some of the greatest developments in America. Through new products, both hardware and software, we have seen the industry grow to be a leader in our economy. Whether it be through employing residents of our communities, investing in our cities, or developing products that people are eager to buy, tech companies are driving the growth that allows our country to lead and succeed. And these companies have increasingly chosen to call Colorado home, with billions of dollars – and significant human capital – invested in our state.
These investments in our state are vital to keeping our smaller communities, like Adams County, thriving. Adams County is the 2nd fastest growing county in metro Denver, and companies are wise to locate here because of all the transportation advantages, abundant available land for business development, and major economic growth sectors, including food and beverage production, advanced manufacturing, aerospace, aviation, construction and life sciences. We need to maintain our competitive edge by continuing to attract and expand the high-caliber companies, jobs, and development that fuel prosperity in our diverse local communities and our state.
But to keep this place in the global order where competition is rampant, we need to give the industries that support our economy every resource needed to continue doing their work. And of course, avoid burdening them with needless regulation. For some reason, certain members of Congress appear to have an alternative take on this concept.
Right now, some in Congress are championing antitrust legislation that will actively hamstring technology companies and put them at a competitive disadvantage to foreign counterparts. Especially in a time of economic uncertainty that we face today, it makes little to no sense why our legislators, who claim to have the best interests of their constituents in mind, would push for legislation that instead works against our economic well-being.
Whether it’s a small Colorado town benefitting from digitally-enabled small businesses, or our state as a whole attracting billion-dollar investments, it’s clear that tech companies and the entire industry are playing a key role in allowing us to weather the current economic storm. It’s critical that our lawmakers in Congress avoid supporting legislation that would move us backward and will take away our ability to compete with global counterparts.
Technology companies are leading the way in giving the United States a leg up amongst our competitors across the globe. We would be wise to continue investing in these companies just as they have invested in our communities by bringing innovation, investors, and job opportunities to our state. It would be actively working against our own interests to restrict the capabilities, and subsequently the work done by these companies. Our best hope is that legislators will come to their senses and end a senseless crusade poised to do more harm than good for our economy and our country.
Lisa Hough is the President/CEO of the Adams County Regional Economic Partnership, or AC-REP, which is the place where business and opportunities meet in the north metro region. She brings more than 25 years of external affairs experience with global to start-up organizations to her new role promoting business opportunities in one of the fastest-growing counties in the U.S. Her expertise includes experience in all forms of telecommunications and energy. Before AC-REP, Lisa worked with the Metro Denver EDC as the Director of Strategic Initiatives, including efforts to expand the talent pipeline for the Colorado Investment Services Coalition.