50 in 50: Colorado

50 in 50: Colorado

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $363.5 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 2.5% (U.S: 1.6%)

GDP per capita: $62,547 (U.S.: $58,154)

Population: 5.8 million

Population 5-year CAGR (2017-2021): 0.9% (U.S.: 0.5%)

Unemployment: 4.1% (U.S.: 3.9%)

Economic health ranking: #26 out of 50

Fiscal health ranking: #15 out of 50

Overall tax climate ranking: #21 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top three metro areas by GDP:

• Denver-Aurora-Lakewood
• Colorado Springs
• Boulder

Top three areas by population 5-year CAGR (2016-2020):

• Greeley
• Fort Collins
• Colorado Springs 

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2020): C-

In Colorado, according to the ASCE, the infrastructure for schools and levees are considered poor or at risk. The state’s water & wastewater as well as transit systems are deemed to be less than adequate. Although in better condition than the national average, Colorado’s roads are difficult and costly to maintain due to elevation changes and investment is needed to manage increased congestion. To deal with these and other issues, the Centennial State will receive at least $6 billion from the IIJA over the next five years, which will be allocated according to the table below (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2020 CPiP: $6.6 billion; -1.8% 5-year CAGR (2016-2020), below overall U.S. CAGR of 2.0%
• State & Local 2020 CPiP: $6.8 billion; 6.1% 5-year CAGR (2016-2020), above overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2021): 8

M&A activity since 2018:

• 29 deals with CO buyers
• 51 deals with CO sellers

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.