Colorado's Economic Recovery Varies by Region
A new report from the U.S. Bureau of Economic Analysis shows that some economies along the Front Range – including Boulder, Ft. Collins and Loveland grew at a faster pace than the 2.5% national average gain.
Boulder saw the highest growth in 2010 with a 4% increase, driven largely by trade, information, and professional and business services. Weld and Larimer counties also saw better-than-average economic growth this year and last – which can be attributed largely to booming energy and agriculture sectors.
“Commodity prices for beef and crops have been increasing quite a bit, and increased throughout 2010 and the first half of 2011. There’s also been an increase in the price of oil, and the demand for oil,” says Natalie Mullis, chief economist for the Colorado Legislative Council.
Greeley saw modest growth of 1.9%. The Denver metro area – although still considered the state’s economic engine – saw lackluster growth of 1.3 percent.
In spite of its position as a big energy producer, Grand Junction was at the bottom of the list, declining 3.3%. Mullis says that’s partly because natural gas prices have remained low.