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New York City: 8,804,190 people, GDP of $884 billion.

Colorado: 5,773,714 people, GDP of $318.6 billion.

I mean, yeah, sure, they can do that, but it's dumb and their competitors will profit from that.

I think you're conflating the ability to profit from a region with the ability to hire from a region. You can still get your chunk of that GDP by selling services/goods there even if you don't have employees there.

If you sell goods and services in Colorado and you write "not open to people from Colorado" on your job posting instead of a range, you can get sued in Colorado. Colorado's law makes it clear that you have to post the range for jobs if you do business in Colorado and you can conceivably have the job done by someone in Colorado (aka all teleworking).

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