Feds: Outdoor industry adds $12B to Colorado economy

WASHINGTON — The outdoor industry is becoming an increasingly critical business sector nationwide, and there are few states where that’s more true than Colorado.

The industry added more than $12.2 million to the Centennial state in 2019 and accounted for 3.1% of Colorado’s economy, according to a recent report from the U.S. Bureau of Economic Analysis.

Outdoor businesses employed nearly 150,000 Coloradans last year whose salaries totalled more than $6.4 million, or 2.9% of all compensation paid to workers in the state.

Unsurprisingly, Colorado led the nation in economic activity generated by winter sports, tallying $1.7 billion. Utah was next ($666.3 million), followed by Vermont ($286.9 million) and Wyoming ($147.5 million).

Nationwide, the industry generated a $459.8 billion economic impact in 2019 and provided gainful employment to more than 5 million Americans, the BEA report said. Outdoor recreation accounted for 2.1% of the nation’s gross domestic product.

Hawaii derived the highest portion of its economy — 5.8% — while Connecticut was lowest with 1.3 %.

The outdoor recreation economy’s GDP grew by 1.3% in 2019, according to the report.

© 2020 BizWest Media LLC

WASHINGTON — The outdoor industry is becoming an increasingly critical business sector nationwide, and there are few states where that’s more true than Colorado.

The industry added more than $12.2 million to the Centennial state in 2019 and accounted for 3.1% of Colorado’s economy, according to a recent report from the U.S. Bureau of Economic Analysis.

Outdoor businesses employed nearly 150,000 Coloradans last year whose salaries totalled more than $6.4 million, or 2.9% of all compensation paid to workers in the state.

Unsurprisingly, Colorado led the nation in economic activity generated by winter sports, tallying $1.7 billion. Utah was next ($666.3 million), followed by Vermont ($286.9 million) and Wyoming ($147.5 million).

Nationwide, the industry generated a $459.8 billion economic impact in 2019 and provided gainful employment to more than 5 million Americans, the BEA report said. Outdoor recreation accounted for 2.1% of the nation’s gross domestic product.

Hawaii derived the highest portion of its economy — 5.8% — while Connecticut was lowest with 1.3 %.

The outdoor recreation economy’s GDP grew by 1.3% in 2019, according to the report.

© 2020 BizWest Media LLC