via the Colorado Office of Economic Development and International Trade
Highlighting opportunities in clean energy, climate smart agriculture, quantum technologies, space technology, tourism and artificial intelligence
Today, Colorado Governor Jared Polis and British Consul General Richard Hyde signed a Memorandum of Understanding (MOU) between Colorado and the United Kingdom (U.K.) to foster cooperation on economic relations, trade, and investment. This exciting new partnership will develop and promote shared opportunities between Colorado and the U.K. in clean energy, climate smart agriculture, quantum technologies, space technology, tourism, and artificial intelligence — all important economic drivers for both economies.
“In Colorado we are focused on saving people money and increasing affordability. Solidifying and strengthening our long-standing relationship with the United Kingdom helps create more pathways for investments into Colorado businesses, expands good jobs in Colorado’s key economic sectors, and establishes a strong and lasting trade partnership with our friends in the U.K.," said Governor Polis.
“This agreement marks a great step forward in our trade relationship with Colorado. We’re unlocking investment for businesses, creating new job opportunities and strengthening the bonds of friendship and cooperation between the U.K. and Colorado,” said Consul General Hyde.
The Governor welcomed Consul General Hyde at the Colorado State Capitol in Denver for a bilateral meeting and MoU signing ceremony. Following the signing, the State of Colorado and the U.K. will form a steering committee to oversee the implementation of the partnership, which will highlight opportunities to reduce barriers to trade and investment between the two regions and elevate new business development opportunities.
The MoU builds on a strong economic partnership between the two regions. In 2023, Colorado exported $214 million in goods to the U.K., while importing $260 million. The U.K. is also Colorado's number one source of foreign investment. Over the last five years, British companies invested $1.5 billion in capital expenditures and provided an estimated 19,400 jobs in Colorado. Also over the last five years, Colorado companies invested an estimated $1.3 billion in capital expenditure and created an estimated 3,765 jobs in the U.K.
The state also routinely welcomes British business delegations interested in Colorado's business ecosystem in areas such as aerospace, agriculture, quantum technology, and renewable energy. Additionally, the British Government keeps an office in Denver to facilitate trade and investment.
The Colorado Department of Agriculture, the Colorado Department of Public Health and Environment (CDHE), the Colorado Energy Office (CEO) and the Colorado Office of Economic Development and International Trade (OEDIT) supported the development of the MoU.
“The U.K is a top economic partner for Colorado. We are thrilled to strengthen this relationship and work together to identify new trade and investment opportunities that benefit Colorado businesses and create jobs in some of our state’s leading industries, including clean energy, quantum, space technology and tourism,” said Eve Lieberman, OEDIT Executive Director.
“Colorado and agricultural organizations in the UK have many shared goals and areas of common interest. From research opportunities to climate smart initiatives, and from helping small businesses to co-manufacturing collaboration, we look forward to continuing our close relationship that this signing has memorialized,” said Colorado Commissioner of Agriculture Kate Greenberg.
“International partnerships such as this are essential to ensure the quick and affordable adoption of clean energy technologies to achieve global climate goals. As Colorado moves closer to achieving our own state goals of 100% clean energy by 2040 and net-zero emissions by 2050, we are pleased to collaborate with our U.K. partners to share lessons learned and help advance the market for clean energy around the world,” said CEO Executive Director Will Toor.
“This agreement underscores the critical importance of international collaboration in addressing shared challenges like climate change and advancing public health initiatives. By partnering with the U.K., Colorado is poised to leverage innovative solutions in clean energy, climate-smart agriculture, and technology to create healthier communities and a more sustainable future. We are excited to support this partnership and look forward to the opportunities it will bring for both our state and global progress,” said Jill Hunsaker Ryan, Executive Director of CDPHE.