Economy & Economic Development  September 24, 2015

Greeley GDP growth ranks No. 4 in nation

GREELEY — Economic growth in the Greeley Metropolitan Statistical Area — encompassing Weld County — grew by 9.9 percent last year, ranking the area as the fourth fastest-growing economy in the nation, according to data released by the U.S. Bureau of Economic Analysis.

Greeley was the only MSA in Colorado to place in the Top 10 ranking for 2014, which is based on growth in real gross domestic product. Greeley recorded real GDP of $9.01 billion in 2014, compared with $8.2 billion in 2013. Estimates of GDP by metropolitan statistical areas are measured in chained (2009) dollars, an inflation-adjusted measure.

Greeley’s GDP growth was second in the nation in 2013.

Greeley’s 2014 growth was dominated by the mining sector, which includes oil and gas extraction, growing by 24.6 percent from the previous year. Construction also recorded solid growth, at 14.4 percent; utilities grew by 11.9 percent; and durable-goods manufacturing, at 8.2 percent.

Greeley’s 2014 growth trailed only Midland, Texas, No. 1 at 24.1 percent; San Angelo, Texas, at 11.4 percent; and Lake Charles, La., at 10.3 percent.

The Fort Collins MSA — comprised of Larimer County — grew by 5.9 percent, ranked 18th nationwide. The Boulder MSA — comprised of Boulder County — grew by 4.6 percent, 30th overall. The Denver-Aurora-Lakewood MSA, which includes Broomfield County, grew by 5 percent in 2014, 27th overall.

Colorado’s GDP grew by 4.7 percent, ranking it fifth in the nation, behind North Dakota at 6.3 percent (No. 1); Texas, 5.2 percent; Wyoming, 5.1 percent; and West Virginia, 5.1 percent.

Greeley’s growth rate for 2014 would not have reflected a slowdown in the energy sector, which has seen oil prices drop under $50 per barrel.

 

GREELEY — Economic growth in the Greeley Metropolitan Statistical Area — encompassing Weld County — grew by 9.9 percent last year, ranking the area as the fourth fastest-growing economy in the nation, according to data released by the U.S. Bureau of Economic Analysis.

Greeley was the only MSA in Colorado to place in the Top 10 ranking for 2014, which is based on growth in real gross domestic product. Greeley recorded real GDP of $9.01 billion in 2014, compared with $8.2 billion in 2013. Estimates of GDP by metropolitan statistical areas are measured in chained (2009) dollars, an inflation-adjusted measure.

Greeley’s GDP…

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