Centennial State News

Colorado and the United Kingdom have formalized a new partnership to enhance trade and investment. Governor Jared Polis and British Consul General Richard Hyde signed a Memorandum of Understanding (MOU) to foster cooperation in key sectors such as clean energy, climate-smart agriculture, quantum technologies, space technology, tourism, and artificial intelligence.

Governor Polis emphasized the economic benefits of this agreement, stating that it will "create more pathways for investments into Colorado businesses" and "expand good jobs in Colorado’s key economic sectors." Consul General Hyde echoed these sentiments, noting that the agreement is a significant step forward in the trade relationship between the U.K. and Colorado.

The signing ceremony took place at the Colorado State Capitol in Denver. A steering committee will be established to oversee the implementation of this partnership. The MOU aims to reduce barriers to trade and elevate business development opportunities between Colorado and the U.K.

This partnership builds on an existing economic relationship. In 2023, Colorado exported $214 million in goods to the U.K., while importing $260 million. The U.K. remains Colorado's top source of foreign investment, with British companies investing $1.5 billion over five years, creating approximately 19,400 jobs. Conversely, Colorado companies invested around $1.3 billion in the U.K., generating about 3,765 jobs.

Several state departments supported this initiative, including the Colorado Department of Agriculture and the Colorado Energy Office. Eve Lieberman from OEDIT highlighted that "the U.K is a top economic partner for Colorado," expressing enthusiasm for strengthening ties.

Kate Greenberg from the Department of Agriculture mentioned shared goals with UK agricultural organizations in areas like research and climate-smart initiatives. Will Toor from CEO pointed out that international partnerships are crucial for advancing clean energy technologies.

Jill Hunsaker Ryan from CDPHE noted that this agreement underscores international collaboration's importance in addressing global challenges like climate change and public health.