Greeley GDP rebounds following 2016 downturn

Greeley’s GDP growth rebounded from its negative turn in 2016, with its 2017 GDP growth making it the No. 6 fastest-growing metropolitan statistical area in the country.

Greeley’s economic output grew 9.1 percent in 2017 to $10.98 billion. In 2016, GDP was $10.05 billion, a 1.4 percent decrease from the year prior. The data was published Sept. 19 by the U.S. Bureau of Economic Analysis.

Greeley’s rebound follows the negative impacts of a faltering energy economy that it experienced a year ago, the effects of which hit Greeley in 2016. However, No. 6 is not the highest Greeley has ranked. In 2014, the MSA ranked No. 4 and in 2013 it ranked No. 2.

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Greeley had its strongest growth in the finance, insurance and real estate sectors, as well as strong growth in natural resources and mining. Construction also had significant growth.

Other regions in Colorado also ranked high. The Fort Collins MSA ranked No. 13 nationally, with GDP year-over-year growth of 5.7 percent and a 2017 GDP of $15.1 billion. In 2016 its GDP was $14.3 billion.

The Boulder MSA ranked No. 67, with a GDP growth of 3.1 percent and a 2017 GDP of $27.6 billion. Its 2016 GDP was $21.9 billion.

The Denver-Aurora-Lakewood MSA grew 3.6 percent, ranking it No. 47 nationally. It had a GDP in 2017 of nearly $186 billion, up from $179.5 billion the previous year.