How Reinventing Regulation Can Boost Economic Growth

Improving regulatory processes can be a powerful and cost-effective economic development strategy for states. According to research by The Pew Charitable Trusts, two reforms have the strongest potential to boost state economies: First, states can make it less costly and time-consuming for businesses to comply with regulations. And second, they can partner with businesses to increase compliance and create economic opportunities.

In Colorado, Governor John Hickenlooper has demonstrated the value of these strategies. He has implemented a statewide effort to set and achieve annual goals for reducing compliance costs for businesses while protecting public health and the environment. In 2017, Colorado agencies reported saving businesses 2.3 million hours, largely by eliminating unnecessary administrative tasks and making the experience more user-friendly. The businesses can now put those hours to better use.

Pew hosted a conversation with Hickenlooper and Kim Jordan, co-founder of New Belgium Brewing Co., about how states can work collaboratively with businesses to help them navigate and comply with regulatory requirements and support economic growth. The event took place at History Colorado Center.

Speakers:

Governor John Hickenlooper (@GovofCO)

Kim Jordan, co-founder, New Belgium Brewing Co.

Moderator: Michael Thompson, The Pew Charitable Trusts