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Four Corners Colorado Region 9 Socioeconomic Profile DOLA Planning and Management Region 9 Socioeconomic Profile Regional Profile FOUR CORNERS COLORADO The central work of the State Demography Office is the research and production of population data and information and of the forces (fertility, mortality, migra- tion) that lead to population change. Data and information about the popula- tion and the factors that lead to population change are critical for program and local area planning. This profile presents data on the economy and the popula- tion for the Four Corners region of Colorado. INSIDE THIS PROFILE Sedgwick Logan State overview ......................... 2 Moffat Jackson Larimer Phillips Routt Weld Jobs .......................................... 3 Morgan Income ..................................... 4 Grand Boulder Rio Blanco Yuma Broomfield Base analysis............................ 5 Gilpin Adams Washington Clear Creek Denver Economic forecasts ................. 6 Eagle Summit Arapahoe Garfield Jefferson Population estimates ............... 7 Elbert Kit Carson Pitkin Lake Douglas Age, race, ethnicity .................. 8 Mesa Park Lincoln Delta Households .............................. 9 Teller El Paso Cheyenne Chaffee Gunnison Poverty, education ................... 10 Montrose Fremont Kiowa Population projections ............ 11 Crowley Ouray Pueblo Forecasting worksheets ........... 12 San Miguel Saguache Custer Bent Prowers Labor force participation ........ 13 Otero Dolores San JuanHinsdale Mineral Huerfano Commuting .............................. 14 Alamosa Rio Grande About us/contact ..................... 17 Montezuma Baca La Plata Costilla Las Animas Archuleta Conejos About us/contact ..................... 18 State Demography Office 1313 Sherman St., Ste 521 Denver, CO 80203 http://colorado.gov/demography 1 Region 9 Socioeconomic Profile THE STATE OF COLORADO Colorado’s population as of July 2012 Colorado’s 2012 county population was 5,188,683, an increase of 70,157 ranges from 646,160 in El Paso to 691 or 1.37% since 2011. Net migration in San Juan County. There is great was estimated to be 38,187 with diversity in this growth: 26 or 40% of 28,705 from net domestic migration Colorado’s counties have fewer than and 9,482 from net international mi- 10,000 people, 11 or 17% of the coun- gration. Natural increase (births mi- ties had greater than 100,000 resi- nus deaths) was estimated to be dents. Between 2011 and 2012 34 31,970. Colorado’s growth rate is very counties gained population and thirty close to what it was between 2010 and counties lost population. The counties 2011. Colorado was 7th fastest in per- experiencing decline are diverse rang- centage change behind North Dakota, ing from mountain counties still strug- District of Columbia, Texas, Wyoming, gling with the recession to the eastern Utah, and Nevada. Colorado was 9th plains to the San Luis Valley. The pop- fastest in the U.S. for absolute change ulation declines were not large num- and is 22nd in the U.S. for total popu- bers, however, in the small counties, a lation. loss of 500 people can be a large share of its total population “In strategic partnership with local communities, the Department of Local Affairs produces the most authoritative demographic and economic data for Colorado’s regions and counties.” - Reeves Brown, Executive Director COLORADO QUICK FACTS EXPECTATIONS 5,188,683 – Colorado population Colorado’s population is forecast to increase from 5,188,683 in 2012 to 5.9 mil- July 2012. lion in 2020 and 6.9 million by 2030. This is an average annual growth rate of 139,000 - Colorado population 1.6% followed by 1.4%. The forecasted growth rates are slightly slower than the change 2010-2012. previous decade yet faster than the US rate of .9%. The largest share of the pop- ulation (82.4%) will continue to be along the Front Range with a small growing 1.4% - Colorado’s population share in the Western Slope, growing from 11% to 12% between 2010 and 2020. growth rate vs. US .9% Over the next decade (2010 – 2020) the Colorado population will also change 7th – Colorado’s rank in US for significantly due to aging baby boomers (born 1946 to 1964), many of whom growth rate 2011-12 moved to the state during the energy boom of the 1970’s. As this generation 9th – Colorado’s rank in US for ages Colorado’s population over the age of 65, a historically small portion of the absolute growth 2011-12. population, will increase rapidly. Over the ten years, the 550,000 people over 1.9% - The North Front Range 65 will expand to 892,000 – an increase of 60%. (Larimer, Weld) fastest growing The forecast for job growth, a significant factor for population growth, is ex- region in state. pected to improve in 2014 and 2015 after returning to peak employment in 30 – The number of Colorado 2013. Between 2010 and 2015 total jobs (including wage and salary and propri- counties losing population 2011-12 etors) are forecast to increase by 350,000, gaining back the 130,000 lost be- tween 2008 and 2010. An additional gain of 315,000 jobs is expected between 2015 and 2020. Many of these jobs are forecast to be driven from growth by retiree spending, approximately 10%. Another bright spot is the tourism indus- try which has also been recovering nationally. Jobs in extractive industries, health services, and business services are also forecast to experience stronger increases. 2 Region 9 Socioeconomic Profile JOBS JOB CHANGE BY SECTOR, Number of Jobs by Sector, 2012 ‘11 - ’12 Tota l Jobs 3 5 8 (0.7 %) Accommodation and food 1 2 3 (2 .5 %) Admin and waste -4 8 (-2 .7 %) Agriculture 117 (6 .9 %) A r ts 40 (2 .8 %) Construction -8 5 (-1 .9 %) Edu ca tion 4 (0.6 %) Finance activities 62 (4 .4 %) Gov er n m en t -1 6 9 (-1 .7 %) Source: State Demography Office Health Services 2 9 5 (5 .7 %) Region 9 had approximately 50,436 jobs in 2012, a figure that includes the self- Information employed as well as wage earners. This figure exceeds the 2011 total by 358 jobs -3 0 (-4 .5 %) (0.7%). Despite these gains, total jobs remain at only 93.2% of the peak employment Management of of 54,121 jobs in 2007. The largest job gains between 2011 and 2012 were in Health companies and Services (295), Accommodation and food (123 jobs), and Agriculture (117). The larg- est declines over the same period were in Government (-169) Construction (-85), and en ter pr ise Administrative and Waste Services (-48). 9 (1 0.7 %) Manufacturing The largest sources of jobs are from Government (including local government) 19% -2 1 (-1 .7 %) (9,562), Retail Trade 11.4% (5,732), Health Services 11% (5,498) and Accommoda- tions and Food Services 10% (5,000). Min in g -4 (-0.4 %) Percentage Change in Jobs by County, 2011 to 2012 Other services, except public administration -3 0 (-1 %) Professional and business serv ices 97 (3 .4 %) Real estate 30 (1 .5 %) Retail Trade -3 (-0.1 %) Transportation and warehousing -1 1 (-1 .1 %) Utilities -2 2 (-8 %) Wholesale trade 4 (0.4 %) Source: State Demography Office 3 3 Region 9 Socioeconomic Profile PER CAPITA PERSONAL INCOME INCOME (2011) Income is an important measure of economic health and is widely reported. It cannot simply be viewed by itself; equally important are the demographic characteristics that impact income levels. Real (inflation adjusted) per capita personal income in Region 9 increased an average Archuleta $31,536 of 1.9% annually com- Real Per Capita Personal Income (2011 Dollars) Dolores $29,250 pared to the State, La Plata $43,453 which showed a $40,000 Montezuma $34,015 more robust annual $35,000 average growth of San Juan $29,854 $30,000 2.2%. Real per capi- $25,000 ta personal income $20,000 $15,000 growth has been $10,000 1.4% from 2009 to Colorado $44,179 $5,000 2011, which is also $0 less than the rate of US $42,298 2001 2009 2010 2011 growth of the state over the same peri- Source: Bureau of Economic Analysis, Bureau of Labor Statistics (CPI) od at 7%. Residents of Region 9 receive about 61% of their income from earnings, which is lower than the state aver- age of 70%. Investment income represents about 23% of the income in the region, Source: Bureau of Economic Analysis above the state average of 17%. Region 9 receives a larger share of government trans- fers (government payments to individuals) at 16% compared to the state at 13%. Re- gion 9 has a slightly larger share of retirees than the state as a whole, which explains this difference. Income from transfers grew faster than other portions of income since 2001, and it did so quickly—an average of 8.4% annually over the past ten years. Payments Medi- care and Medicaid account for the largest growth in Transfer Payments. Components of Income (2011) Region 9 State $824,464, $37,698,563, 23% $29,541,811, 17% 13% Earned income Transfers Dividends, interest, rent $158,170,105 $2,186,292, $570,261, , 70% 16% 61% While not the largest source of income, transfer payments have been increasing as a portion of the total, increasing its Source: Bureau of Economic Analysis share from 11.7% in 2001 to 15.9% in 2011. 4 Region 9 Socioeconomic Profile BASE ANALYSIS REGION 9 Households in Region 9 – jobs to the base industry ECONOMIC BASE, 2012 especially retirees – bring in mix. significant amounts of mon- While income and employ- Traditional 4,856 ey and support nearly 8,700 ment from tourism may be jobs. This is not to diminish Min in g 1 ,1 8 8 volatile and fluctuate with the importance of tourism – Manufacturing 5 7 8 weather conditions and con- it remains the region’s sec- Gov er n m en t 3 ,09 0 sumer wealth, employment ond largest base industry and income from house- and supports nearly 8,500 Agriculture 2,631 holds, government, and edu- jobs.
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