Weld County GDP growth No. 2 in nation
Weld County’s economic growth has surged to No. 2 in the nation, with output growing 10 percent last year, according to the U.S. Bureau of Economic Analysis.
Mount Vernon-Anacortes, Wash., another oil rich area, came in at No.1 in the nation with growth of 10.6 percent.
“In a historical context, it’s a pretty remarkable number,” said Martin Shields, an economics professor at Colorado State University, of Weld’s growth. “Not many places grow that quickly over time, smaller places tend to grow faster. … It’s still quite uncommon, and the driver, the story, is oil and gas.”
Weld’s growth was chiefly a result of oil and gas drilling, but it also was fueled in part by construction, which contributed 1.33 percentage points of the growth; and trade, which grew by .87 of a percentage point.
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