**Colorado’s Economy: A Tale of Two Regions**
If Colorado’s economy were viewed as a drought map, the Front Range from the Wyoming border to Colorado Springs has abundant water and ranks high for prosperity, with Douglas County the equivalent of Blue Mesa Reservoir. Economic strength stretches up the Interstate 70 corridor across the mountains west through Garfield County to the Utah border, with roaring tributaries of prosperity pouring down from Steamboat Springs and Aspen and Telluride. Other pockets of prosperity include Lake, Custard, Park, Chaffee, and Ouray counties. These areas all rank in the top 20% of U.S. counties regarding seven measures of economic health, according to the latest Distressed Communities Index from the Economic Innovation Group in Washington, D.C.
If Colorado’s economy were viewed as a drought map, the Front Range from the Wyoming border to Colorado Springs has abundant water and ranks high for prosperity, with Douglas County the equivalent of Blue Mesa Reservoir. Economic strength stretches up the Interstate 70 corridor across the mountains west through Garfield County to the Utah border, with roaring tributaries of prosperity pouring down from Steamboat Springs and Aspen and Telluride. Other pockets of prosperity include Lake, Custard, Park, Chaffee, and Ouray counties. These areas all rank in the top 20% of U.S. counties regarding seven measures of economic health, according to the latest Distressed Communities Index from the Economic Innovation Group in Washington, D.C.
Colorado's Economic Landscape
Colorado has the fourth-highest share of its population living in prosperous areas after Utah, Minnesota, and New Hampshire. With over 41% of the state's population residing in prosperous areas, the Centennial State is home to two of the most prosperous counties in the country - Douglas and Elbert. Despite these promising statistics, there are concerns about a slight decline in the share of the population living in prosperous areas over time, signaling potential future challenges.
Disparities Within Prosperity
While designating a county as prosperous indicates overall economic health, it does not guarantee prosperity for all residents within that county. For instance, approximately 38.5% of the population in Aurora lives in an "at-risk" ZIP code, highlighting disparities within prosperous counties. However, the absence of distressed ZIP codes in Colorado's three largest cities suggests that the state is making strides in uplifting its urban population.
Colorado's Economic Stratification
Beyond prosperous and distressed areas, Colorado also features economically "comfortable" and mid-tier regions. The southwest part of the state, along with Grand and Clear Creek counties and Cheyenne and Kiowa counties on the plains, fall into the "comfortable" category. Mid-tier areas encompass regions like the northwest corner grappling with coal production declines and south-central counties showing signs of improvement. At-risk areas include counties facing economic challenges such as a lack of water, workforce, and infrastructure.
Addressing Economic Distress
Despite Colorado's overall economic prosperity, a concentrated pocket of distressed communities persists in the state's southeastern corner. Counties like Prowers, Bent, Las Animas, Baca, and Otero face significant economic challenges, including agricultural limitations, workforce shortages, and inadequate infrastructure. Efforts to revitalize these communities include initiatives like the $13 million award for broadband improvements, aiming to enhance connectivity, telemedicine, and educational opportunities.
A Glimpse of Hope
Noteworthy transformations are visible in counties like Pueblo and Huerfano, moving from distressed to mid-tier status, indicating potential for economic recovery and growth. The collaborative spirit and entrepreneurial drive within southeastern Colorado offer a glimmer of hope for overcoming economic challenges and building a resilient future. As efforts continue to bridge economic disparities and foster local development, Colorado's economic landscape may witness positive transformations and sustainable growth.
Hey there, I'm Mohamed Rahat, your go-to writer for all things business and economy. Originally from Mumbai, now rocking it in Navi Mumbai. With a past life at Tata Power Co. Ltd., I'm here to unravel the mysteries of the economic world, one article at a time. Stick around for some mind-bending insights! Connect With Me