Credit, cars and creeks. What do these things have in common you ask? Well … keep reading.
Here’s what you need to know this week:
Credit: Getting it. For the first time in 80 years, Congress has not reauthorized the Export-Import Bank. Its charter expired on Tuesday night. This bank serves as a crucial tool for small and medium-sized companies conducting international business by providing credit and insurance when commercial credit isn’t available. Since 2007, more than 100 Colorado businesses, the majority of which are small or minority-owned, have used the bank to facilitate the export of their products abroad, generating a total export value of $815 million.
What it means to us: Our businesses compete in a local and a global marketplace, and without the Export-Import Bank, we’re putting our companies at a disadvantage, which is why we have and will continue to urge Congress to act and reauthorize the Export-Import Bank.
Cars: Getting up the hill. This week we learned that over the winter we had fewer accidents and road closures along I-70 westbound to the mountains. That meant fewer delays, which means people and goods are moving more efficiently. And, that is truly a good thing. Credit goes to the Colorado Department of Transportation and its partners for continuing to find ways we can maximize the current roadway capacity.
What it means to us: Our quality of life is an important selling point for the highly educated population we have in Colorado, and access to our mountains is part of what makes life here so great. So, any step that helps with the demands being placed on I-70 West helps us deliver on that promise. And, those short-term solutions buy us a little time as we work hard to find the right long-term solutions for the corridor.
Creeks: Using what you need. Remember when you were young (or last year) and the summer months meant dry days, burnt grass and even fire danger? It seems these days all we are talking about is the rain, river levels and flooding we’ve seen. But, while your grass may be green, our friends on the Western Slope are still dealing with very dry conditions.
What it means to us: Water is a statewide issue and we must continue to focus on a water plan that supports the needs of all Coloradans. Our affiliate, the Colorado Competitive Council, is working diligently on this issue and providing a voice for business as we come closer to solidifying a state water plan. So, continue to conserve and learn to use water more efficiently.
Here’s what these issues have in common: They all impact our economy—our jobs. There are things you can do to ensure we stay on top of these issues so their impact isn’t negative or, even better, continues to position Colorado’s economy to be stronger and more diverse so we can ride out the inevitable downturns that will come our way.
Kelly Brough is the president and CEO of the Denver Metro Chamber of Commerce.