The Growth Of Denver’s Economy Is Nearly The Best In The Nation

Denver is not any city but the capital city of a state that is known for quite a few things these days. If you were to ask people what city is pioneering the legalization of marijuana, they would no longer say California. Colorado is also known for its beautiful cities. The city is one of the best places to live in the state, and it is also one of the best places for travel. Both industry and tourism have combined to fuel the exponential growth of the economy.

Out of all of the metro areas of the US, Denver ranks as one of the 20 most massive in the US. In 2017, the city and its metro area ranked 4th regarding growing the fastest in a five year period. It is important to note that the cities metro area includes Lakewood and Aurora. In that five year period, do you know what the GDP numbers grew to be? In the beginning, it was $153 billion, and by the end of the five years, the number was $180 billion.

That is quite impressive. While the growth of the economy is indeed impressive, which three metro areas ranked higher during that five year period? I’ll give you a second to think about it, but the answer is coming up. I’ll give you a hint. The state in which one of the cities is located was mentioned earlier. Another hint for one of the other cities is The Lonestar State. The hint for the final city in that group of three is Space Needle.

Did you come up with San Francisco, Seattle and Dallas? Those are the three US metro areas whose economies grew faster than Denver during that five year period. It helps to know that the city doesn’t rank #4 regarding population when it comes to metro areas. Its rank is #19. As a matter of fact, its economy doesn’t rank #4 either. The position for the Denver metro area economy is #18. Therefore that rise to #4 regarding growth is key to showing you where the economy in the city is heading.

Both Denver and Colorado, in general, are on the rise. The Mile High City’s highest GDP growth rate in recent years was achieved in 2014 when it grew a whopping 6 percent. The growth before then was quite impressive, and the growth since then has still been quite impressive, too. Think about where Denver, its metro area and the entire state of Colorado will be in the next five years.

It is important not to confuse the numbers for growth with where metro areas are already in the US. There are some major cities whose GDP growth rates have slowed significantly. Then there are booming metro areas like Denver who are climbing the list. Our City is a great place, whether you are investing in a home there or just looking to plan a nice trip. Colorado, in general, is beautiful, and the economy of Denver is going to continue to grow.

Find out more here about Denver‘s growth