Colorado researchers expect economic growth in 2025 despite uncertainty

DENVER — The group behind the 60th annual Colorado Business Economic Outlook Forum expects economic growth in the Centennial State for 2025.

The forum should be held in Denver on Monday as researchers share the results of their report. The forecast was compiled by the University of Colorado Division of Business Research and includes a collaborative effort with more than 140 businesses, educational institutions and other organizations.

“Despite a complex national and global economic landscape, Colorado’s diverse economy is expected to remain resilient,” reads a press release issued by the University of Colorado.

Researchers project 1.2% job growth in Colorado by 2025, or about 36,700 jobs. Ten of Colorado’s top 11 industries are expected to create jobs. However, a researcher KOAA spoke with said Colorado’s population growth is slowing, coupled with the fact that about 40,000 people are expected to retire next year, could pose a problem.

“I think, honestly, one of the biggest obstacles in Colorado right now is population growth,” said Brian Lewandowski, executive director of the business research division at the Leeds School of Business. “It’s slowed down pretty dramatically over the last few years, in fact, starting with the pandemic. Colorado’s population growth has slowed, and without that growth, we think Colorado will struggle to show significant growth in employment because we don’t have the people to take care of us.” For example, the state demographics office estimates that about 40,000 people retire each year in Colorado. So for us to remain stable, without job growth, we would probably need about 40,000 people. fill these pensions.

The outlook also calls for GDP growth, despite many unknowns.

Click here to read the full report released Monday.