Second InterCity Leadership Visit
Fort Collins, Colorado
October 8-10, 2006


Community Information

Major Industries and Commercial Activity

Fort Collins' economy has been described as well-balanced, with a good mix of manufacturing and service-related businesses. Local business leaders claim that the city's economy is insulated from some of the ups and downs in the regional and the national economies by the "highly sophisticated and rapidly advancing technological progress" of the city's industries. Fort Collins has a strong manufacturing base; it is home to such firms as Hewlett Packard, WaterPik, Woodward, In-Situ, and Anheuser-Busch. The city has been experiencing low unemployment rates and a steady increase in household incomes, increasing purchasing power that can only further stimulate the local economy. A variety of high-tech companies have relocated to Fort Collins because of the resources of Colorado State University and its research facilities. New housing construction has added to the city's economic growth.

Items and goods produced: pharmaceuticals, electronic components and accessories, aircraft and parts, scientific instruments, measuring and controlling instruments, radio and TV equipment, industrial chemicals, engines, turbines, communications equipment

The Northern Colorado Economic Development Corporation supports existing employers and recruits new employers to the region. It assists local companies to grow and expand and, in partnership with Colorado State University, encourages technology transfer to nurture local start-up companies.

(970)667-0905; fax (970)669-4680; email mfoley@ncedc.com

Labor Force and Employment Outlook

Fort Collins' labor force has been described as young, well-educated, and energetic. Studies have indicated that many of the graduates of Colorado State University stay in the city.

Fort Collins exhibits outstanding economic stability. In a 2002 report on the economic strength of U.S. metropolitan statistical areas (MSA), POLICOM Corporation ranked Fort Collins-Loveland as the eighth strongest economy in the nation. Economic strength is a combination of both the rate and consistency of growth, and the information is obtained by examining 25 years of data in 18 different categories in the economy.

The following is a summary of data regarding the Fort Collins-Loveland labor force, 2004 annual averages.

Size of non-agricultural labor force: 128,500

Number of workers employed in . . .

construction and mining: 9,800

manufacturing: 14,700

trade, transportation and utilities: 21,800

information: 2,400

financial activities: 5,500

professional and business services: 14,200

educational and health services: 13,400

leisure and hospitality: 15,300

other services: 4,300

government: 27,000

Average hourly wage of production workers employed in manufacturing: $16.13

Cost of Living

The following is a summary of data regarding several key cost of living factors for the Fort Collins metropolitan area.

2004 (3rd Quarter) ACCRA Average House Price: $213,900 (Greeley metro)

2004 (3rd Quarter) ACCRA Cost of Living Index: 91.7 (Greeley metro) (U.S. average = 100.0)

State income tax rate: 4.63%

State sales tax rate: 2.9%

Local income tax rate: None

Local sales tax rate: 3%

Property tax rate: The residential assessment rate for 2003-2004 is 7.96% of actual value based on market values as of June 30, 2002; reappraised every two years

Economic Information Source: Northern Colorado Economic Development Corporation.