In need of storage spaces for rent in the state of Colorado? Take a look into the listings above and see all the options we have for you.Colorado is home to a diverse array of industries that contribute to the state's economy, labor force, and gross domestic product (GDP). According to the Colorado Department of Labor, the top five industries in the state are professional and business services, trade, transportation, and utilities, education and health services, leisure and hospitality, and construction. These industries account for more than half of the total employment in Colorado.
The professional and business service industry is the largest sector in the Colorado economy, employing more than 645,000 people in 2019. This industry includes a wide range of services, such as accounting, advertising, engineering, legal services, and management services. Trade, transportation, and utilities is the second-largest sector, employing more than 370,000 people. This sector includes wholesale and retail trade, as well as transportation, warehousing, and utilities.
The education and health services industry is the third-largest sector in Colorado, employing more than 330,000 people. This sector includes health care and social assistance, as well as educational services. The leisure and hospitality industry is the fourth largest sector, employing more than 285,000 people in 2019. This sector includes accommodation, food services, and entertainment. The construction industry is the fifth-largest sector in Colorado, employing more than 150,000 people.
Colorado's GDP has been steadily increasing since 2009, with a growth of 5.7% in 2021, making it one of the fastest-growing economies in the United States. (https://www.sos.state.co.us/pubs/business/quarterlyReports/2021/2021Q3-SOSIndicatorsReport.pdf)
And the state's GDP was estimated to be $421.9 billion in the same year (https://www.sos.state.co.us/pubs/business/quarterlyReports/2021/2021Q3-SOSIndicatorsReport.pdf)
In terms of economic performance, Colorado ranked 22nd in the nation in 2022 according to the American Legislative Exchange Council.(https://alec.org/wp-content/uploads/2022/04/2022-15th-RSPS-State-Pages_V3_Final_R1.pdf)
Overall, Colorado's economy is strong and diverse, with a variety of industries that contribute to the state's labor force and GDP. The state's economic trends have been positive in recent years, with strong growth in the professional and business service and construction sectors. Colorado's economic performance has been ranked highly in the nation and the state's GDP is expected to continue to grow in the coming years.