Colorado Economy Ranked #1

Colorado Economy Ranked #1

  • Megan Douglas
  • 07/15/19

According to USA Today Colorado has the Number 1 Economy in the United States.

Many of the states with the best economies are in the fast-growing West and Southwest regions of the United States. While the population growth of America’s largest metropolitan areas – New York, Los Angeles, and Chicago – has slowed in recent years, growth in mid-to-large-sized Sun Belt cities such as Austin, Orlando, Raleigh, and Las Vegas has been increased, reaching more than three times the national population growth rate since 2013.

5 yr. GDP annual growth rate: +5.0% (6th largest increase)

• 2018 GDP: $368.8 billion (16th largest)

• April 2019 unemployment: 3.4% (tied – 21st lowest)

• 5 yr. annual employment growth: +3.0% (2nd largest increase)

By a number of metrics measuring economic growth, wealth, educational attainment, and other factors, Colorado ranks as the best economy in the United States. The state’s economy was the sixth fastest-growing over the past five years. One factor contributing to Colorado’s growth is its booming tourism industry. A record 84.7 million domestic travelers visited the state in 2017, setting a new all-time high for the eighth consecutive year. With the state setting new yearly records in domestic tourism, the arts, entertainment, recreation, accommodation, and food services sector in Colorado grew at an average annual rate of 7.0%, the fifth-fastest increase of any state.

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