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5 billion to the states economy in 2010 and accounted

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Unformatted text preview: arch Division found the state’s federal research labs contributed $1.5 billion to the state’s economy in 2010 and accounted for more than 16,000 direct and indirect jobs. The $1.5 billion impact is a 36% increase compared with the $1.1 billion impact for 2007 when the division last completed the survey and analysis. Furthermore, federal spending in the state provides economic opportunities for communities. A recent issue of the Colorado Business Review highlighted Colorado’s federal spending totaled nearly $50 billion in the state. Of the statewide total, retirement and disability payments for individuals account for the largest funding category (25.8%), followed by procurement contracts (20.9%) and federal grants (17.7%). The remaining funds are dispersed among various federal programs, including Medicare, unemployment compensation, crop insurance, conservation reserve, and housing assistance, and salaries and wages for federal employees. Additionally, Colorado ranked ninth in per capita spending in the nation for both procurement contracts and salaries and wages in 2010, and federal continued on page 96 GOvERnMEnT EMPLOyMEnT IN COLORADO GOVERNMENT EMPLOYMENT In COLORADO 2003–2012 2003-2012 (In Thousands) Government Sector Local General Local Education Total Local State...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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