Businesses Flee Denver in Mass Due to Safety Concerns and Remote Work Opportunities

The mass exodus of businesses from Denver has reached a critical point, with CEOs citing financial viability, safety concerns, and cleanliness as the driving factors behind their decision to pack up and leave.

The city's policies and the influx of indigent migrants and homeless individuals have created an environment that is increasingly challenging for businesses and their employees.

Denver's once highly coveted Mile High City office real estate market has lost its luster, and the consequences are evident. According to Moody's Analytics data, a staggering 21.7% of office space across the Denver metro area was vacant at the end of last year, surpassing the national average of 19.6%. The commercial real estate firm CBRE reported even more severe vacancy rates at 31.5%, the highest level since the '90s, according to the Denver Post.

The combination of a struggling real estate market and the ongoing trend of companies embracing remote and hybrid work models has left downtown Denver and other sanctuary city downtowns largely deserted. As businesses adapt to the changing work landscape, the need for physical office spaces diminishes, and the allure of city life fades.

Unfortunately, Denver's policies have exacerbated the situation. With over 40,000 indigent migrants and more than a thousand homeless individuals residing in downtown Denver, concerns for safety and cleanliness have grown. Many businesses fear for the well-being of their employees and customers in an environment stretched beyond capacity.

While Mayor Mike Johnston claims that bringing people back to in-person work is a top priority, his actions send a mixed message. The continuous arrival of migrant buses, coupled with efforts to retain downtown businesses, creates a contradictory situation that raises questions about the mayor's priorities.

The challenges faced by lower-wage workers in the retail and restaurant industries, who cannot work remotely, are often overlooked. The absence of downtown foot traffic puts their jobs and livelihoods at risk, making it difficult for them to provide for themselves and their families.

READ MORE:

• COSTS FOR ASSISTING DENVER’S OVERWHELMING INDIGENT MIGRANTS COULD REACH $500 PER HOUSEHOLD, REPORT REVEALS

• DENVER'S HOMELESS DEATHS REACH RECORD HIGH UNDER FAILED LIBERAL POLICIES

• DENVER’S HOMELESS GIVE CITY LEADERS AN EARFUL

• DENVER MAYOR WARNS OF POTENTIAL $180 MILLION IMPACT OF IMMIGRANT INFLUX ON DENVER’S TAXPAYERS

Despite the mayor's intentions, many company leaders have already moved past the notion of bringing workers back to the office full-time. A recent survey conducted by the Conference Board revealed that out of 158 U.S. CEOs, only six indicated a priority of returning to the office full-time by 2024, as reported by Axios.

As Denver grapples with the consequences of its policies and the changing dynamics of the workforce, it is imperative for city leaders to address the concerns raised by businesses and work towards a solution that fosters a thriving business environment while maintaining the well-being of its residents.