As part of a series examining Colorado’s economy, the Greater Pueblo Chamber of Commerce CEO Duane Nave answered questions about rural Colorado and what he is seeing regionally that helps and hurts the local economy.

The Pueblo Chamber of Commerce is the largest business organization in Southern Colorado with more than 1,300 members.

Colorado Politics: Can you reflect on the last decade in terms of the Colorado economy and business health in your region?

Duane Nave: Over the past decade, Pueblo has experienced steady, resilient growth rooted in its manufacturing heritage and expanding service sectors. Anchored by the steel industry, healthcare, and education, Pueblo’s economy has shown consistent gains in diversification and innovation. Major infrastructure investments and downtown revitalization have strengthened the community’s business environment, while tourism and cultural events – from the Colorado State Fair to the Chile & Frijole Festival – continue to boost local commerce and pride.

Although Pueblo’s unemployment rate typically trends slightly higher than the state average, the region’s strong community spirit and affordable cost of living have made it an attractive place for small business startups and expansion projects alike.

CP: Colorado is ranked sixth as the most regulated state in the nation. How does that affect existing, new, and prospective businesses in your region?

Nave: Colorado is currently ranked as one of the most regulated states in the nation, and that reality presents both challenges and opportunities. For Pueblo, this means that existing and new businesses often face extended timelines for permitting, environmental reviews and compliance.

Larger employers have the resources to navigate the regulatory landscape, but small and mid-sized businesses feel the weight of those layers most acutely. The Chamber continues to advocate for commonsense reform that balances public interest with economic vitality, ensuring that regulation does not stifle entrepreneurship or slow job creation in Southern Colorado.

CP: Are businesses in your region seeing the trickle-down effects of the Trump administration tariffs?

Nave: The ripple effects of federal trade tariffs, particularly those imposed during the Trump administration, have reached Pueblo’s business community. The steel tariffs benefited primary producers, such as the Pueblo mill, by stabilizing prices and protecting domestic output. However, they also increased costs for downstream industries – such as fabrication, construction, and manufacturing – which rely heavily on steel as an input.

Similarly, tariffs on imported goods and retaliatory trade measures affected sectors tied to agriculture, packaging and retail distribution. While the local economy remains strong, many Pueblo-area businesses have had to adjust pricing strategies and sourcing to absorb these higher costs.

CP: How would you rate the performance in terms of the economy and business support from Gov. Jared Polis, and, in recent years, the Democratic-led legislature?

Nave: Gov. Jared Polis and the Democratic-led legislature have maintained a pro-innovation and clean-industry focus, which aligns with Pueblo’s renewable energy and advanced manufacturing growth. The state’s push toward green technology and sustainability has directly benefited Pueblo’s steel industry and positioned the region as a leader in low-emission industrial production.

However, employers continue to face challenges related to rising costs, labor regulations, and housing affordability. While progress has been made in workforce development and business recruitment, many chamber members believe more can be done to simplify compliance and reduce operational costs that weigh heavily on smaller enterprises.

CP: What are some of the biggest issues businesses in your region are facing?

Nave: Small Businesses

• Rising costs of goods, insurance, and utilities

• Difficulty attracting and retaining employees

• Navigating evolving labor and regulatory requirements

• Managing limited access to affordable capital

Medium-Sized BusinessesWorkforce development, particularly in skilled trades

• Affordable health care and employee benefits

• Supply chain disruptions and high input costs

• Permitting and infrastructure hurdles

Large Businesses

• Long-term energy reliability and cost predictability

• Housing for incoming professionals

• Balancing statewide policy changes with long-term growth strategies

• Continued investment in transportation and logistics infrastructure

CP: How is Colorado’s cost of living impacting businesses regarding workforce, housing, and other issues?

Nave: Colorado’s high cost of living continues to be a major factor in workforce recruitment and retention. While Pueblo remains one of the most affordable cities in the state, the rising cost of housing and everyday expenses is beginning to put pressure on both employers and employees.

Businesses are adapting with higher wages, remote work options, and creative benefits packages — but the challenge remains ensuring that Pueblo can attract and retain talent without losing its cost-of-living advantage. Affordable housing development and continued economic diversification are key to maintaining balance.

CP: Describe the Colorado economy in your region pre-COVID, during COVID, and post-COVID. What issues still linger? What has improved?

Nave:

Pre-COVID: Pueblo entered 2020 with steady growth, driven by expansions in health care, education, and industrial manufacturing. Downtown development and tourism were on the rise, and the region was seeing renewed business confidence.

During COVID: Like the rest of the nation, Pueblo businesses faced unprecedented disruption. The hospitality and retail sectors were hit hardest, though the community’s strong spirit and local support helped many survive. Federal relief and the chamber’s outreach efforts played a crucial role in stabilizing the local economy.

Post-COVID: Recovery has been strong but uneven. Workforce shortages, rising costs, and inflation remain significant challenges. On the positive side, Pueblo has seen a renewed emphasis on “buy local” initiatives, industrial reinvestment, and community-driven economic collaboration. The foundation laid before the pandemic — rooted in grit, resilience, and innovation — continues to drive Pueblo’s economic momentum today.