Colorado’s Economy Upudate
Colorado Economic Update provided by the Office of Economic Development & International Trade (view the entire report)
We all know that our communities in the state are extremely health-conscious. With a wealth of outdoor recreation amenities and an active culture, it’s certainly unsurprising that Colorado has the lowest adult obesity rate in the nation. What’s more, combined with our state’s entrepreneurial spirit and business friendly climate, Colorado has become a leader in fostering a health innovation ecosystem in the U.S.
According to a recent StartUp Health Insights Report, Colorado ranked top ten for number of deals and funding in the healthcare space. Organizations such as Prime Health, Innosphere, and the Colorado Bioscience Association (CBSA), as well as the Office of Economic Development and International Trade, have supported the ecosystem through various events and funding programs.
We’re excited to see our state grow, and while there is still work to do to surpass hubs like San Francisco or Boston in healthcare innovation funding, we’re proud of the progress we have made and believe it be just one component that will serve to make our communities more resilient and economically diverse.
State Economic News:
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National Solar Job Census 2016 Release
The Solar Foundation released their National Solar Job Census which reports information on the development of the solar industry in different states. Colorado experienced a 20% increase in solar jobs and has one of the highest ratios of solar jobs when compared to the total workforce. As a whole, the solar industry is expected to gain over 280,000 new jobs in the coming 12 months.
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Kansas City Fed Colorado Economic Databook
The Kansas City Fed released its monthly employment report for January, in which Colorado performed well above the national average. The January unemployment rate in CO declined to 3.0%. Employment in CO was heavily concentrated into the Mining, Construction, Professional Services, and Government industries compared to national benchmarks.
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Economic Impact of Immigrants in Colorado
Colorado is home to some of the nation’s fastest growing cities and more than half a million immigrants are living in the state, serving as everything from technology entrepreneurs to farm workers. The New American Economy takes a non-partisan look at a regional breakdown of the economic impact (including spending power, demographics, workforce, voting power, home ownership, etc.) of immigrants by district.
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