Colorado’s normally robust economy took a hit at the start of 2017, measuring paltry growth that ranks the state between Delaware and New Jersey.
According to new data released from the Bureau of Economic Analysis, Colorado’s economy only grew 0.4% in the first quarter of 2017, ranking 39th nationally. Other mountain west states like Idaho and Utah were in the top 10. Texas was the number one state with 4% growth.
The two industries who most contributed to Colorado’s “growth” in the quarter were mining and government. Industries like information and real estate actually slowed compared to the previous quarter.
This slow down should be a warning to policymakers: economic growth doesn’t just happen. Layering government regulations on top of more regulations while ignoring key infrastructure needs is a recipe for disaster. Government agencies serve Colorado’s citizens best with a light touch that does not discourage economic activity.
Actions have consequences. Hopefully Colorado can regain its footing as a great state to live, work and play.
Check out the map below of how states did in the first quarter and check out all the data here.