The NCEDC's prospect pipeline is not the only sign of economic strength for Northern Colorado. A recent report by the U.S. Bureau of Economic Analysis shed light on how the local economy has expanded since 2005.

According to the BEA, the Fort Collins-Loveland area saw its local GDP increase from $9.5 billion in 2005 to $11.04 billion by the end of 2008 - an expansion of 16.2 percent. In the same time frame, the Greeley area experienced 17.9 percent growth in GDP, from $6.089 billion to $7.18 billion. Overall, Fort Collins-Loveland is ranked No. 160 among 336 metropolitan statistical areas, and Greeley is No. 213. GDP, or gross domestic product, reflects the total value of goods and services generated in a local economy.

The following list compares shows GDP grew for Colorado's metropolitan areas between 2005 and 2008, the percentage growth in that time frame, and the national ranking for each city:

GROSS DOMESTIC PRODUCT FOR COLORADO'S METRO AREAS

City                  2005 GDP                   2008 GDP       3-Yr.Growth     U.S Rank

Boulder             $15.125                     $17.813           17.77%                        110

CO Springs       $21.206                       $24.062           13.46%                        86

Denver             $131.072                     $150.81           15.05%                        17

Grand Junction $3.737                         $5.227             39.87%                        260

Greeley            $6.089                         $7.185             17.99%                        213

FC/Loveland     $9.509                         $11.036           16.05%                        160

 

The Group Real Estate Insider. November 2009. Report shows local economic expanded from 2005-2008. Fort Collins, Colorado. Volume 33, No. 10