5:43am

Mon February 3, 2014
Business

Boulder On Par To Outpace State Growth

Boulder leads the pack for 2014 economic development.
Credit Snap Man/Flickr Creative Commons

Colorado as a whole faces a growing economic year, but the Front Range and specifically Boulder will feel the greatest benefit of that anticipated success.

That forecast is based on Boulder County’s a diverse array of jobs ranging from research to real estate and construction, said University of Colorado Economist Richard Wobbekind. That’s just the tip of the iceberg; the region’s solid tech industry will play a large role in the months ahead.

“There’s a very strong sector called professional and business services,” Wobbekind said. “The jobs are spread across pretty significant areas when it comes to primary employers.”

The variety of professional job opportunities will embolden the economy with solid tax revenue derived from strong retail sales. Boulder – along with other Front Range counties -- will see their economies grow even faster than the state as a whole.

But don’t get giddy just yet. Colorado Futures Center President Phyllis Resnick of Colorado State University says that the positive forecast may be overshadowed by dwindling state funds, according to the Boulder Daily Camera. Speaking at a forum last Thursday, she pointed to the fact that federal money may artificially prop up real estate growth only to decline once that money is used up.   

While that snag may dampen some future prospects, the majority of the state and regional economic forecasts remain positive.

In other parts of the state, agriculture and the oil and gas industry will play a key role in economic revival. Compared to the rest of the country, Colorado is expected to rank in as one of the top five states for a strong economy in 2014. That marks the state's strongest growth since the year 2000 with an estimated 67,000 new jobs expected.