Economy of Colorado

By | March 4, 2023

Colorado is a state known for its diverse economic landscape. With a population of 5.8 million people, it has the 18th largest economy in the United States. Colorado boasts an impressive gross domestic product (GDP) of $364 billion and is ranked 17th among states in terms of economic output.

The state’s economy is largely dependent on its natural resources, tourism, and technology sectors. Colorado’s main industries include oil and gas extraction, agriculture, aerospace, healthcare services and manufacturing. The state is also home to numerous military installations which contribute significantly to the local economy.

Agriculture plays an important role in Colorado’s economy with over 70% of land used for farming or ranching activities. The state produces a variety of crops including hay, wheat and corn as well as livestock such as cattle and sheep. Agriculture also provides employment opportunities for many rural residents across the state.

Tourism is another major industry in Colorado with nearly 77 million visitors each year contributing more than $20 billion to the state’s GDP annually. Popular destinations include ski resorts located throughout the Rocky Mountains as well as other outdoor attractions such as national parks and monuments like Mesa Verde National Park or Garden of the Gods park in Colorado Springs.

The energy sector is also a major contributor to Colorado’s economy, particularly oil and gas extraction which accounts for nearly 10% of total employment according to estimates from 2019. The oil industry supports thousands of jobs across various sectors including construction, transportation and engineering services among others.

Colorado also has a thriving technology sector which includes both startup companies and established corporations such as Oracle Corporation, Ball Aerospace & Technologies Corp., Lockheed Martin Space Systems Company and Raytheon Missile Systems Company among others. Technology companies provide high-paying jobs while also generating significant revenue for the local economy through taxes paid by tech firms operating within the state’s borders.

In addition to these industries, there are numerous small businesses that operate within Colorado’s borders providing goods or services to local consumers or selling products online around the world. Small businesses are responsible for creating thousands of jobs throughout the state while also helping stimulate economic growth by introducing new products or services into the market place that can be used by consumers or other businesses alike..

Overall, Colorado has an incredibly diverse economic landscape that allows it to maintain strong levels of growth regardless of changes in any particular industry due to its reliance on multiple sources of income from different sectors throughout its.

Top 3 Counties in Colorado

According to, main counties in Colorado include:

1. Denver County: Denver County is located in the north-central region of Colorado, and is home to the state’s capital, Denver. It is the most populous county in Colorado with a population of over 693,000 people. The county has a diverse economy that includes a mix of industries such as finance, health care, technology, and manufacturing. It also boasts many attractions such as the Denver Zoo, the Denver Art Museum, and Red Rocks Amphitheater. Additionally, it has a vibrant nightlife with many restaurants and bars located throughout the city.

2. El Paso County: El Paso County is located in south-central Colorado and home to the city of Colorado Springs. It has an estimated population of over 668,000 people making it one of the most populous counties in Colorado. The county is known for its outdoor recreation opportunities including hiking trails in Garden of the Gods Park and fishing spots at Pueblo Reservoir State Park. Additionally, it offers plenty of cultural attractions such as Cave of the Winds Mountain Park and Cheyenne Mountain Zoo.

3. Arapahoe County: Arapahoe County is located in east-central Colorado and includes cities such as Aurora, Littleton, Centennial, Englewood, and Greenwood Village. It has an estimated population of 637,000 people making it one of the most populous counties in Colorado as well as one of its fastest growing counties due to its close proximity to Denver International Airport which attracts businesses from all over the world looking to relocate or expand their operations into this region. The county also offers plenty of recreational activities including skiing at Echo Mountain Park or snowboarding at Breckenridge Ski Resort which are both within driving distance from Arapahoe County’s major.

Economy of Colorado