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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.
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.
As of August 2013, Colorado had 53,800 nonmilitary federal employees, which made of 2.3 percent of the state's total nonfarm employment, slightly above the national average of 2.0 percent. In addition, there were 37,285 active military in Colorado.
Before Colorado was a state, it was a federal prison territory. Today, the Federal Bureau of Prisons operates the Federal Correctional Complex, in Fremont County, which consists of several separate Federal prisons, including ADX Florence, the only supermax facility in the federal system, home to many convicted terrorists and other notorious criminals.
The North American Aerospace Defense Command (NORAD) and United States Air Force Academy are based in Colorado Springs; National Oceanic and Atmospheric Administration (NOAA), National Center for Atmospheric Research (NCAR) and the National Institute of Standards and Technology in Boulder; United States Geological Survey and other government agencies at the Denver Federal Center in Lakewood; the Denver Mint and United States Court of Appeals for the Tenth Circuit in Denver.
There is also a significant amount of federal lands in the state, including 11 National Forests and four National Parks. There are also numerous private companies that have operations in Colorado that deal with the governmental agencies in states.
Tax is collected by the Colorado Department of Revenue.
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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.
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.
As of August 2013, Colorado had 53,800 nonmilitary federal employees, which made of 2.3 percent of the state's total nonfarm employment, slightly above the national average of 2.0 percent. In addition, there were 37,285 active military in Colorado.
Before Colorado was a state, it was a federal prison territory. Today, the Federal Bureau of Prisons operates the Federal Correctional Complex, in Fremont County, which consists of several separate Federal prisons, including ADX Florence, the only supermax facility in the federal system, home to many convicted terrorists and other notorious criminals.
The North American Aerospace Defense Command (NORAD) and United States Air Force Academy are based in Colorado Springs; National Oceanic and Atmospheric Administration (NOAA), National Center for Atmospheric Research (NCAR) and the National Institute of Standards and Technology in Boulder; United States Geological Survey and other government agencies at the Denver Federal Center in Lakewood; the Denver Mint and United States Court of Appeals for the Tenth Circuit in Denver.
There is also a significant amount of federal lands in the state, including 11 National Forests and four National Parks. There are also numerous private companies that have operations in Colorado that deal with the governmental agencies in states.
Tax is collected by the Colorado Department of Revenue.