Understanding what is happening in the local economy is important. It can inform good job-creating public policy and is embedded in the Chamber’s Jobs Agenda recommendations.
Recent Trends in Colorado’s Oil and Gas History
Colorado’s economy lost more than 120,000 jobs over the course of the Great Recession. Since the recession ended in 2009, state employment totals have climbed by 137,500. The oil and gas industry added more than 5,000 of these jobs, as new drilling techniques have increased the economic viability of several fields in the state.
This paper reviews recent trends in the industry and discusses some of the economic issues affecting its prospects in Colorado. Although the oil and gas industry has added more than 17,600 jobs statewide since 2001, both state and regional employment totals are regularly impacted by national output and price volatility. Additionally, the state is seeing intense public debate about industry regulation, which may affect future employment.
Primary Employment Trends
During the so-called ‘Great Recession,’ Larimer County lost 1,450 primary jobs. This matters a great deal because primary jobs pay on average $59,300 per year compared to $33,400 for non-primary jobs. Primary jobs underpin the health of the local economy. A Colorado State University study commissioned by the Fort Collins Area Chamber of Commerce, the Northern Colorado Economic Development Corporation and the Larimer County Workforce Center documents the trends and impacts of primary employment in Larimer County. Find the full report here.
City of Fort Collins Economic Health Strategic Plan
In 2012 an Austin-based economic consulting firm, TIP Strategies, completed a major strategic economic plan for the City of Fort Collins. The results are fascinating and the recommendations provide a cogent strategy for positively shaping the city’s economy in the years ahead.
Assessing the State of the State’s Economy:
Did the Great Recession Wipeout a Decade of Economic Progress in Colorado?
Colorado State University Regional Economist Dr. Martin Shields explains how the Great Recession impacted the state of Colorado. In effect, the severity of the recession rolled back a decades worth of economic gains.
The Economic Impacts of Breweries on Northern Colorado
Every college student’s dream come true: you can drink your beer and make money, too! Seriously though, a Colorado State University study documents the economic significance of the brewing industry to Northern Colorado. In 2010, local breweries supported 938 direct jobs. Including spinoff impacts, they support $309.9 million of output and 2,488 jobs, while adding $141.9 million to local payrolls.
The Role of Health Care and Social Assistance in Larimer County
The health care sector of the Larimer County economy is large and growing. Over 10 percent of jobs are related to health care and social assistance with the sector ranking second in terms of average wages.
Workforce Reports – Fort Collins
Fort Collins is the employment center of Northern Colorado with 124,315 jobs. This report by the Northern Colorado Economic Development Corporation lists the number of people working in all of the Standard Occupational Classification codes. Top categories: retail sales people (4034 jobs), secretaries (3815), real estate agents (2290), post-secondary teachers (2241), food prep/service (2191), cashiers (2123), registered nursed (2069), waiters / waitresses (1818), managers (1778), and first-line retail managers (1638).
2012 State of the Colorado Cities
CSU Regional Economist Dr. Martin Shields shared an economic outlook for Colorado cities at a Mayor’s Economic Forecast Breakfast presented by the Denver Business Journal.
Larimer County 2012 Economic Profile
Larimer County is 2632 square miles and is the home of 300,637 people, most are white (84.1%) and the average age is 35.8 years. The labor force is 178,042. These are just a few of the facts presented in this profile compiled by the Northern Colorado Economic Development Corporation.