Economy of Colorado
In 2021, the economy of the State of Colorado was 16th largest in the United States with a gross state product of $421 billion.Colorado's per capita personal income in 2019 was $61,157, putting Colorado 12th in the nation.
Corn production in Colorado | |
| Statistics | |
|---|---|
| GDP | $382.5 billion (2020) |
GDP per capita | $63776 |
Population below poverty line | 13.7% |
| 0.453 | |
Labor force | 2,819,800 |
| Unemployment | 3.0% |
| Public finances | |
| Revenues | $8,586 million (2010) |
| Expenses | $7,722 million |
Wheat, corn, sorghum, and proso millet were the largest agricultural products by acres farmed. Hay ($1 billion), corn ($850 million), and wheat ($460 million) were the largest farmed products by value sold. Colorado is also a significant beef producer with 659,000 cows in 2021. Colorado was the fourth largest marijuana producer in 2021 by sales at $460 million.
The state's economy is diversified and is notable for its concentration of scientific research and high-technology industries. Other industries include food processing, transportation equipment, machinery, chemical products, minerals such as gold and molybdenum, and tourism.