Engage Colorado - Vote Against Shipping Colorado Jobs to Texas

Newsletter — Issue 55 — Monday, October 26, 2026

This newsletter has been published by Engage Colorado.

Vote Against Shipping Colorado Jobs to Texas. No on Amendment 87.

Vote for preserving our tax base, our retail spending, and opportunity and prosperity for our next generation. Yes on Proposition 136.

This Engage Colorado Newsletter reflects the personal opinions of Dan Caruso, written with the support of the Caruso Ventures team. The Ensuring Colorado's Innovation Future Coalition did not review and has not endorsed this Engage Colorado Newsletter.

Amendment 87, if passed, would mean larger companies and fast-growing tech leaders would leave Colorado. We rely on these job creators to fund our tax base, support our retail businesses, and — most importantly — create opportunities for those who follow us.

Let’s be specific about the type of companies that would consider relocating.

Larger Employers at Risk

Arrow Electronics, BAE Systems, Ball Corporation, DaVita, Gates Industrial, Lockheed Martin, Newmont, Northrop Grumman, VF Corp and Vantor (formerly Maxar).

Fast-Growing Tech Companies That Might Depart

AI Infrastructure: Vantage Data Centers, Crusoe, STACK Infrastructure, Zayo, Lumen

Quantum: Quantinuum, Infleqtion, Atom Computing, Maybell Quantum

Space and Aerospace: Sierra Space, Boom Supersonic, Lunar Outpost, York Space Systems, Ursa Major, Radia, Blue Canyon Technologies

Biosciences: Enveda, Strive Health, SonderMind, Watchmaker Genomics, Edgewise Therapeutics, Tolmar

AI: MagicSchool AI, Pax8, Quantum Metric, Ibotta, JumpCloud, Velocity Global

These departures will undermine Colorado’s strengths across the strategic industries that will create jobs for years to come.

Colorado’s corporate income tax under Amendment 87 would be 8.4%, far higher than our rival states: Texas 0%, Nevada 0%, Utah 4.45% and Arizona 4.9%. The pressure to move headquarters will be daunting.

Colorado’s top individual tax rate under Amendment 87 would also be 8.4%. Texas, Florida, Tennessee and Nevada have no individual income tax. Arizona is 2.5%, and Utah is 4.45%. Job creators will be motivated to move.

I don’t have any insight into which of these companies will actually move. But every one of them will face pressure if their Colorado taxes nearly double to 8.4%, when competing states tax corporate income at 4.9% or less, or not at all. And companies departing the West Coast and Northeast will avoid Colorado.

Vote No on Amendment 87 and Yes on Proposition 136

More than 440 Colorado business leaders have signed the Open Letter to Attorney General Phil Weiser and Colorado’s other elected leaders, asking them to oppose Amendment 87 and support Proposition 136. If you haven’t yet, please add your name.

Read and sign the open letter →

Ballots are due by 7:00 PM on Tuesday, November 3. Vote. Then make sure your family, friends, neighbors, and colleagues vote.

Go Deeper

Open Letter — Support Proposition 136 and Oppose Amendment 87

The Honest Assessment

The Innovation Vision for Colorado

— Dan Caruso, Engage Colorado

Managing Director of Caruso Ventures, Host of The Bear Roars Podcast, and Board Chair of Tulagi Music Fest