Economy of Colorado

Main article: State of Colorado

Economy of Colorado
Corn production in Colorado
Statistics
GDP$382.5 billion (2020)[1]
GDP per capita
$63776[2]
Population below poverty line
13.7%[3]
0.453[4]
Labor force
2,819,800[5]
Unemployment3.0%[6]
Public finances
Revenues$8,586 million (2010)[7]
Expenses$7,722 million[8]

In 2021, the economy of the State of Colorado was 16th largest in the United States with a gross state product of $421 billion. Colorado's per capita personal income in 2019 was $61,157, putting Colorado 12th in the nation.[9]

Wheat, corn, sorghum, and proso millet were the largest agricultural products by acres farmed. Hay ($1 billion), corn ($850 million), and wheat ($460 million) were the largest farmed products by value sold.[10] Colorado is also a significant beef producer with 659,000 cows in 2021.[11] Colorado was the fourth largest marijuana producer in 2021 by sales at $460 million.[12]

The state's economy is diversified and is notable for its concentration of scientific research and high-technology industries.[13] Other industries include food processing, transportation equipment, machinery, chemical products, minerals such as gold and molybdenum, and tourism.[14][15][16]

  1. ^ "Total Gross Domestic Product for Colorado". Retrieved November 11, 2021. {{cite journal}}: Cite journal requires |journal= (help)
  2. ^ "Per Capita Personal Income in Colorado". November 11, 2021. {{cite journal}}: Cite journal requires |journal= (help)
  3. ^ "State Rankings--Statistical Abstract of the United States--Persons Below Poverty Level". www.census.gov. Archived from the original on February 13, 2011. Retrieved January 15, 2022.
  4. ^ "U.S. Census website". United States Census Bureau. Retrieved December 23, 2016.
  5. ^ "??" (TXT). Research.stlouisfed.org. Retrieved December 23, 2016.
  6. ^ "Colorado Economy at a Glance". Bls.gov. Retrieved December 23, 2016.
  7. ^ "US Census Bureau, State Government Tax Collections Viewable Data". Factfinder.census.gov. Retrieved December 23, 2016.
  8. ^ "Archived copy". Archived from the original on August 23, 2011. Retrieved 2011-10-10.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ^ "Personal Income by County and Metropolitan Area, 2019" (PDF). Bureau of Economic Analysis. Retrieved January 24, 2021.
  10. ^ "2021 STATE AGRICULTURE OVERVIEW". USDA/NASS. Retrieved June 7, 2022.
  11. ^ "Beef Production By State". Retrieved June 7, 2022.
  12. ^ Ramos, Elliot. "Recreational marijuana sales showered states with cash in 2021". NBC. Retrieved June 7, 2022.
  13. ^ Cite error: The named reference BoulderAero was invoked but never defined (see the help page).
  14. ^ "Tourism Pays". Denver. Retrieved September 20, 2023.
  15. ^ "Climax Molybdenum Mine". coloradoencyclopedia. Retrieved September 20, 2023.
  16. ^ "Colorado Food Manufacturing" (PDF). choosecolorado. Retrieved September 20, 2023.