Politics & Government
Colorado's Economy Among Least Impacted By Pandemic: Report
Colorado's economy has fared well during the pandemic compared with other U.S. states, according to a new study. Here's why.
Colorado is among the top state economies in the U.S. that have been least affected by the coronavirus pandemic, according to a new report.
In its study, WalletHub researchers looked at all 50 states and the District of Columbia, and measured them across 13 key metrics, such as how much of their GDP came from highly affected industries like retail and food services, how their economies are recovering, and which resources each state is offering businesses to help them cope with the crisis.
Top 15 state economies least impacted by the pandemic:
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- Washington
- Arizona
- Oregon
- Utah
- District of Columbia
- Nebraska
- Minnesota
- Maryland
- Idaho
- South Dakota
- Colorado
- California
- North Carolina
- Vermont
- Iowa
The reason Colorado did so well: It's providing resources for businesses that have struggled during the prolonged closure. WalletHub found Colorado had done the second best job giving resources to businesses to help them stay afloat.
Unlike tech states such as Washington, Colorado's industries have been very vulnerable to the pandemic, so the state and county resources have been invaluable, the study shows.
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Rounding out the bottom of the list were Louisiana and Oklahoma, which provided relatively few resources for businesses in need, researchers said.
Patch Editor Charles Woodman contributed to this report.
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