Economic Update

Business Environment

The business environment in the Grand Junction metro area is excellent: It is stable, diverse, and resilient. Since the early 1990's, the area's Gross Metropolitan Product has been one of the fastest growing in the nation.

The Grand Junction area's economy originated in agriculture, natural resource extraction, and the provision of services to western Colorado and eastern Utah. Following a downturn in the early 1980's, the community made a concerted effort to create a more diverse and stable economy. The success of these efforts can now be seen in the numerous and diverse industries that call the Grand Junction area home. From telecommunications to customer service centers, from health and medical services to a variety of manufacturing industries such as electronics and advanced composites; many industries have contributed to the prosperity of the area. With another resurgence of the oil and gas industry and with a strong construction sector, the area's economy weathered the economic downturn of the late 1990's into the early 2000's very well. Today the economy is very strong.

The success of the growing and productive economy is evidenced by the area's growing gross metropolitan product (GMP), which was rated 15th in the nation in average annual growth from 1995 - 2005, according to a report provided to the U.S. Conference of Mayors by Global Insight. In 1995, the Grand Junction MSA's GMP was $2.5 Billion. By 2005, GMP grew to $5.3 Billion, more than doubling during the decade, and exceeding recent estimates. The average annual growth rate was 8.0% over that period. The estimated GMP for 2006 is $6.3 Billion.

The local community is proactive in creating the right business environment for successful companies to flourish and grow. The cities of Grand Junction, Fruita and Palisade, along with Mesa County, have been engaged in significant community planning efforts with an eye on creating a healthy balance of commercial and industrial opportunities while preserving the open spaces that make the Grand Valley a unique and attractive place to live and work. Many companies have found, and will continue to find, the Grand Junction Metropolitan Area the right place to do business.