Some Good News for Colorado's Economy
By January 22, 2009 10:13 AM
The recession is about two-thirds over and will end later this year--at least in Colorado, the Denver Business Journal
reports, citing VectraBank Colorado's annual economic forecast.
The state has seen worse in recent decades, notes Tom Clark, executive vice president of the Metro Denver Economic Development Corp. The sectors hardest hit by this downturn, including financial services and durable-goods manufacturing, aren't too influential in Colorado, which is helpful, writes The Denver Post
. The state didn't see astronomical rises in home prices, experienced in states like California, either.
According to another Journal story
, two Colorado State University economists predict that after a "horrific" 2008, the economy could recover as early as the summer for myriad reasons, including "no real estate bubble to pop." Even housing contractors are fairing well lately, CBS4
notes, with people remodeling their homes as an investment for the future.
Moreover, CSU itself is one of the most significant growth engines in the state, according to a university press release