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Why Greeley Colorado has one of the Best Economies in the Nation

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Greeley, Colorado is one of the fastest growing cities in the nation. Greeley is ranked number on in job growth and in a recent study completed by Forbes.com, surveying the Best Places for Business and Careers in the United states, Greeley ranked #33 out of 200 cities. Out of 5 Colorado cities that made the list, Greeley comes fourth behind Denver, Fort Collins and Boulder, respectively (Denver being #1 on the list.) Greeley is considered the business center of Weld County and is one of the fastest growing cities in the country.

Why does Greeley have one of the fastest growing economies?

The list rates Greeley as the #1 city in job growth, in front of Austin, Texas. This is due to Greeley’s constant growth. We are expected to have annual job growth of 3.5% and we are up by 8.8% from previous years. The average household income is around $60,000, while our cost of living is 7.5% below the national average, and our median home price is $202,600 (10% above the national average.) Greeley is also home to many education and medical institutions which include AIMS, University of Northern Colorado, and the Institute of Business and Medical Careers. Large employers, like JBS, NCMC and Vestas, are all located in the Greeley area and provide hundreds of jobs for locals. All of these organizations contribute to our community’s success and future opportunities.

Besides the diverse economic environment Greeley also has a strong oil and gas industry. Even with oil prices dropping, there is still drilling and the oil companies employ many people in the area. Even before oil and gas provided a boost to our economy, Greeley had a strong economy. One of the driving factors in Greeley’s and Colorado’s growth is a constant population increase. Colorado has seen steady and continued population increases year over year.

Why does Colorado’s population keep increasing?

I live in Colorado and I am definitely biased, but we have a wonderful state. Colorado has seen housing prices increase in recent years, but housing prices are still much more affordable than many other areas of the country. We have low property taxes, fantastic weather (it is not as cold here as many people think) and the Rocky Mountains. Colorado is a wonderful place to live with plenty of jobs and infrastructure.

Greeley actually has some of the lowest property values in the area, which makes it a popular choice for many people moving into the area. Places like Loveland, Fort Collins, Longmont and especially Boulder have much higher prices. Greeley’s low prices and strong economy have been attracting many relocation’s and improving our economy even more.

What are the seven best attractions of Greeley, Colorado?

Will Greeley’s economy continue to grow?

It is impossible to say how much Greeley’s economy will grow in the future, but I think it will stay strong. Many people worry that low oil prices will hurt our economy and they may keep the area from being the fastest growing economy in the country, but I do not think our economy will tank either.

I talk with many people throughout the area and there was actually a shortage of labor when oil was booming. There were not enough people to fill the jobs available in the area. Now that oil prices have dropped and there is more labor available those local companies have been able to hire people again. There was not a glut of unemployed people as many feared.

Our housing market has not slowed down either. Housing prices continue to rise, rentals are in short supply and we still have record lo housing inventory in the area.

Conclusion

Greeley may not have the number one economy in the next few years as it previously has. However, I think the area and Colorado is in great shape economically and will continue to thrive.

 

 

 

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