Energy is a mixed blessing (boom and bust) to local economies in Colorado, specifically Grand Junction and Greeley.
Since 1991, the Grand Junction MSA has added jobs at an annualized rate of 2.4% compared to 2.0% for the state.
Mesa County enjoyed strong growth in the first part of the 2000s because of the oil and gas industry. Unfortunately, it also experienced a bust in 2009.
The Grand Junction MSA employment has not returned to the peak level of 2008.
Since 1991, the Greeley MSA has added jobs at an annualized rate of 2.9% compared to 2.0% for the state.
Similar to Mesa County it experienced a boom as a result of exploration in the Niobrara gas fields. As well, the local economy benefitted from a Vestas turbine factory. While the county experienced a downturn in conjunction with the Great Recession, Greeley MSA employment returned to the peak level of 2008 in January 2012.
Despite the boom and bust cycles, both communities have experienced a stronger rate of growth over the past two decades than the state.
©Copyright 2011 by CBER.