CU business study forecasts expansion of state economy
BOULDER — Growth in the construction, tourism and financial services industries are expected to fuel a continued expansion of Colorado’s economy in the new year.
The annual forecast by the University of Colorado’s Leeds School of Business, released Monday, predicts over 63,000 jobs will be added in the state largely because of those industries in 2017.
The forecast says natural resources and mining are the only sectors that are lagging. Low commodity prices have also hurt agricultural income.
The school’s chief economist, Rich Wobbekind, told the Daily Camera that Colorado’s economy is more diverse now and better able to handle a downturn in the oil and gas industry than it was 25 years ago. However, he does expect the state to be hampered by labor shortages and its high cost of housing.