To improve Colorado's economy and quality of life, local and state policymakers should focus on crime as their highest priority.

That's the clear takeaway from a new study released last week by Colorado's Common Sense Institute. Titled "The Cost of Crime and its Economic Impact on Colorado," the report details the costs of Colorado's 2008-2023 crime surge on the economy and households.

"From property offenses to violent crimes, every crime leaves a traumatized victim. Whether the wounds are physical, psychological, or financial, it is important to acknowledge the profound effects that a crime can have on its victims," the report says.

The study details tangible costs of crime, including: medical, mental health, lost productivity, property loss, public services related to crime, adjudication and sanctioning, and perpetrators' lost work. It also calculates intangible costs related to "quality of life losses."

The study was headed by institute economist Steven Byers and former Colorado prosecutors George Brauchler and Mitch Morrissey, using state crime data. They employed a calculation model published in the Journal of Benefit-Cost Analysis titled "Incidence and Costs of Personal and Property Crimes in the United States, 2017," and converted numbers to 2020 dollars.

Last year's statewide crime rate was 28% higher than in 2008. The study estimates the cost of crime to Colorado was $27.2 billion in 2022, including reported and unreported crimes. That's equivalent to 76% of the state government's budget.

Other key findings include:

— The cost of crime in 2022 was equivalent to $4,623 for each Colorado resident.

— For every 1% decrease in the number of crimes, the state adds 474 jobs and $56.2 million to the GDP.

— If crime were to decrease to zero, the economic impact of increased quality of life would add $1.8 billion to Colorado's GDP and increase employment by 17,335.

— If insurance premiums were to decrease by 25% because of crime falling to zero, consumers would have $1.71 billion more in their pockets to spend. It would also add 40,445 jobs and increase GDP by $4.97 billion.

— The impact of zero crime would be an increase of 47,319 jobs and a $5.62 billion increase in GDP.

The authors, like everyone else, know they won't live to see "zero crime" or anything approaching it. Nevertheless, any step toward the goal moves us in the direction of more general prosperity.

"High crime rates can discourage businesses and citizens, leading them to relocate to areas that they perceive are safer. This phenomenon has been demonstrated repeatedly here in the United States. Many crime-ridden city centers have deteriorating local economies. St. Louis, San Francisco, Portland (Oregon), and Seattle are prime examples," the report says.

Colorado has spent the past decade embracing "criminal justice reforms" that have nurtured a deadly fentanyl epidemic and played key roles in spiking nearly all categories of crime. The study suggests we end this practice.

"There are massive economic benefits to all Coloradans when crime is low," the study says. "Policy, despite its intention to create a more humane criminal justice system, has instead adversely affected the quality of life enjoyed by the state's law-abiding majority. Victims should be prioritized, not perpetrators."

We see hope in the recent elections of Colorado Springs Mayor Yemi Mobolade and Denver Mayor Mike Johnston — who each pledge to crack down on crime.

It is a provable and documentable fact that crime has taken an unseemly toll on Colorado. As the Common Sense Institute declares, it is time to reverse trends and punish illegal behavior. It is time to make Colorado the safest state in which to visit or reside.

The Gazette Editorial Board

REPRINTED FROM THE COLORADO SPRINGS GAZETTE

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