CO SB005

Directs the Colorado Office of Economic Development to develop and administer a business retention and expansion program as part of the state economic development plan aligned with the Colorado Blueprint.

Authorizes the office to develop stronger relationships between state, regional, and local economic development partners through transparent communication, collaborative engagement, training, and data sharing.

Requires the office to establish an early detection-and-response system to anticipate business needs and challenges and implement solutions, while serving as a clearinghouse for programs, resources, and assistance.

Mandates the office to develop protocols for identifying opportunities to retain and expand existing businesses and to identify obstacles within state agency rules that impede business retention and expansion.

Requires the office to include annual reports on the program in its general assembly reporting, with no separate state appropriation needed for implementation.