STATE ECONOMIC PROFILE
Colorado Economic Overview
$447.0b
GROSS STATE PRODUCT
Growth Rate 2020-25
State Growth Rank
3.3%
9
5,945,513
POPULATION
Growth Rate 2020-25
State Growth Rank
0.5%
18
882,846
BUSINESSES
Growth Rate 2020-25
State Growth Rank
3.6%
12
Overview of the Colorado Economy
In 2025, the state of Colorado has a population of 5,945,513, having grown an annualized 0.5% over the five years to 2025, which ranks it 18th out of all 50 US states by growth rate. Colorado's gross state product (GSP) in 2025 reached $447.0b, with growth of 3.3% over the 5 years to 2025. Businesses in Colorado employed a total of 3,355,543 people in 2025, with average annual employment growth over the past five years of 2.8%. The top three sectors by total employment are Real Estate and Rental and Leasing, Professional, Scientific and Technical Services, Information, while the unemployment rate across the state in 2025 was 4.3%.
What is Colorado's Gross Domestic Product (GDP)?
In 2025, Colorado's GDP reached $447.0b, representing an increase of 3.3% from 2024. Colorado's GDP has grown at an annualized rate of 2.4% over the five years to 2025. Moreover, Colorado's trailing five-year GDP growth ranks it 9th out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Colorado's GDP, and compare them to the national average, using the chart below.
STATE ECONOMIC PROFILE
Colorado Industry Trends
What are Colorado's Largest Industries by Revenue?
The largest industries by revenue in Colorado are Automobile Wholesaling, Oil Drilling & Gas Extraction and New Car Dealers, which generated $33.7b, $27.5b and $24.0b in 2025.
STATE ECONOMIC PROFILE
Top Companies in Colorado
Top 10 Companies Headquartered in Colorado by Employment
The largest companies by employment in Colorado are Denver International Airport, Walmart and Kroger, which employed 40,000, 29,853 and 21,689 people in 2025.
STATE ECONOMIC PROFILE
Colorado Sector Statistics
In Colorado, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Colorado's GDP by Sector?
The Real Estate and Rental and Leasing, Professional, Scientific and Technical Services and Information sectors contributed the most to Colorado's GDP in 2025, representing a combined 43.5% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state's economy, in addition to how the state economy is evolving over time.
What is Colorado's Employment by Sector?
The Healthcare and Social Assistance, Retail Trade and Administration, Business Support and Waste Management Services sectors contributed the most to employment in Colorado in 2025, representing a combined 33.7% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
STATE ECONOMIC PROFILE
Colorado Employment Trends
3.4m
EMPLOYMENT
Growth Rate 2020-25
State Growth Rank
1.6%
43
4.3%
UNEMPLOYMENT
Growth Rate 2020-25
State Growth Rank
-8.8%
16
What Employment Trends are Impacting Colorado?
The state of Colorado employs 3,355,543 people in 2025, which ranks it 19th out of all 50 US states. Employment in Colorado has grown at an annualized rate of 1.6% over the five years to 2025, underperforming the national average of 1.8%. Major sectors by employment in Colorado include Healthcare and Social Assistance, Retail Trade and Administration, Business Support and Waste Management Services, which employed 399,623, 376,897 and 352,798 people in 2025, respectively. Colorado's unemployment rate is 4.3% in 2025, which ranks it 26th out of 50 states. Colorado's unemployment rate has trended downwards at a rate of -8.8% over the five years to 2025, overperforming the US economy as a whole. Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Colorado, and compare them to the US economy, using the chart below.
$290.4k
PER CAPITA DISPOSABLE INCOME
Growth Rate 2020-25
State Growth Rank
11.0
8
What is Colorado's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Colorado's DPI in 2025 was $290.4k, compared to the US average of $138.3k, which places it 8th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Colorado's per capita disposable income, and compare it to the US average, using the chart below.
STATE ECONOMIC PROFILE
Colorado Construction & Building Trends
$9,444.8tn
NONRESIDENTIAL CONSTRUCTION
Growth Rate 2020-25
State Growth Rank
7.3%
22
$10.6tn
RESIDENTIAL CONSTRUCTION
Growth Rate 2020-25
State Growth Rank
-1.9%
2
27,429
BUILDING PERMITS
Growth Rate 2020-25
State Growth Rank
-10.2%
2
What can construction trends tell you about a state’s economy?
In Colorado, non-residential construction was $9,444.8tn in 2025, which ranks it 22nd out of all US states. Residential construction was $10.6tn in 2025, which places Colorado 2nd in the United States. The number of building permits issued in Colorado in 2025 was 27,429, representing a -10.2% annualized growth rate between 2020 and 2025.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Colorado, and compare it to trends in the number issued in the United States as a whole, using the chart below.
STATE ECONOMIC PROFILE
Colorado Population Statistics
Which Counties in Colorado have the Largest Populations?
The counties with the highest populations in Colorado are El Paso County, Denver County and Arapahoe County, which had populations of 755,647, 717,061 and 657,678 people in 2025.
STATE ECONOMIC PROFILE
Colorado Demographics
Education Level Colorado
Race in Colorado
Colorado State Industry Reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level by providing accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 649 Colorado Industry Reports.
