ElectionDay3A report by the Leeds School of Business at the University of Colorado Boulder has found that confidence and optimism among Colorado business owners has increased sharply in the weeks since the U.S. presidential election.

The Leeds Business Confidence Index (an annual report by the school) was 60.3 points at the close of the fourth quarter of 2016. That is 7.3 points higher than the third quarter of 2016 and 4.9 points up from the same time last year, according to the report.

“We thought one way or the other, the election would be enough to sort of stabilize business expectations and give them the operating environment they needed going forward,” Richard Wobbekind, executive director of the Leeds School’s Business Research Division, said in the report. “They not only got that, but they got the announcement of lower corporate tax rates and more attempts to deal with regulatory policy.”

The Business Confidence Index bases its findings on the state of the economy, industry sales, industry profits, capital expenditures, hiring plans and other markers, according to the report. Any number over 50 points is considered positive. This is the 22nd consecutive quarter of positive expectations, according to the report.

The report can be found in its entirety here.