Economy of Colorado

Gross state product	$257.6 billion
Per capita income	$51940
Unemployment rate	8.2%
Major industries	Food processing, mining, agriculture and tourism
Major sectors	Service, Industry, tourism, agriculture and mining

The federal government plays a major role in the economy of Colorado. The state has abundant National Forest land and national parks. Other industries include food processing, transportation equipment, machinery, chemical products, extraction of minerals. The income tax of the state is a flat 4.63% of federal taxable income.

The gross state product of Colorado is $257.6 billion. The per capita income of the state ranks eleventh in the nation. Early industry was based on mining and processing of mineral and agricultural products. The economy of Colorado expanded during the nineteenth century. Agriculture and raising livestock became important. The state is the largest producer of beer in United States. The capital of the state, Denver, is an important financial center.

Colorado has a rich reserve of hydrocarbons. It has seven of the nation's hundred largest natural gas fields. Rocky Mountain ridges offer wind power potential, while geological activity in the mountains provides potential for geothermal power development.

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Colorado Economy