When looking at the economy in states like California, Colorado, Nevada, New York, and Florida, it is no surprise that tourism is one of the major and fastest growing industries. But there are times when some industries top the charts in any given year, and those come as a huge market upset. Investors scramble to move their investment capital around in order to realise the highest gains. If you are living in Colorado, one thing you can ‘almost’ be sure of is that the top fastest growing industries promise to stay at the top, at least in the foreseeable future. We’ve mentioned tourism, so here are 6 more to ponder.
Did you know that agriculture accounts for almost half of Colorado’s 66 million acres? This was even a surprise for experienced investor Louis Hernandez Jr. Not only are Coloradans health conscious, but they are also in love with fresh, organic produce. Of note are the state’s prized crops such as Palisade peaches and Olathe sweetcorn. There is one other crop topping the list, but that will be mentioned later on. Can you guess what it is?
Retail will always be a hot industry in Colorado, especially in the tourism areas. And, the best thing about this career is that almost anyone can find a job in it, with little experience required. Those who are visiting the state for the long ski season, and have enjoyed careers with Walmart, for example, should have no issue finding work during the busy seasons.
3. Craft Beer
Here’s another bit of information you could one day win Trivial Pursuit with. Colorado is known around the globe as the Craft Beer Capital. While you might think that honour would be for countries like Germany, the father of craft beers, Colorado claims the title and of that, the state is extremely proud!
4. Real Estate
There is no doubt that Colorado real estate is booming. Have you tried to buy a new home recently? Real estate in Colorado is at levels 40 percent over the days leading up to the Great Recession and the market shows no signs of slowing down any time soon. Perhaps that’s partially because of the following fast-growing industry mentioned below.
Because Colorado was the first state in the country to vote in legalised marijuana for recreational use, this is now a huge industry. From growing (agriculture) to sales, this particular industry now has a net worth of over $1 billion and continues to grow.
Between the years of 2005 and 2015, output of crude more than quadrupled in Colorado. During the same time, the production of natural gas saw an increase of 51 percent and now investor-owned providers of electricity are focused on renewable energy sources. There is big profit in this.
Now you can see why the top fastest growing industries in Colorado come as no surprise. Whether you are looking for work here at home or want to travel for a bit taking your talents to the UK, you can be proud to be from Colourful Colorado, the Centennial State.