Here in Colorado, we’re fortunate to host and cultivate a diverse economy. Each of these industry sectors play an important role supporting local jobs, small businesses and opportunities.
While Colorado may best be known for its mountains, we also benefit from our natural resources found below the surface in oil and natural gas. Because of these resources, Colorado has a robust energy development sector that supports $31 billion in economic activity and over 100,000 well-paying jobs.
Our state is lucky to have these resources that aren’t available in most other states, which keeps our local energy prices among the lowest in the country and supports our state’s gross domestic product. Maintaining the success of this industry is important to Colorado’s economy and provides us with a strong national position.
Like many other industry components, our economic success depends on retaining and growing opportunities. In the Summer of 2013, the South Metro Denver Chamber spearheaded a trade mission to Houston to engage key oil and natural gas industry leaders. As The Villager wrote at the time:
“As part of the South Metro Denver Chamber’s ongoing mission to ensure Colorado’s economic vitality, a group of business leaders traveled to Houston recently to meet with high-ranking executives from some of the largest oil and gas companies in the world.
The trade mission focused on thanking those oil and gas companies for doing business in Colorado while adhering to strict environmental and health standards as well as laying the groundwork for future investment in Colorado.”
The members of this trade mission ultimately established the founding members of Vital for Colorado. The team set out to establish a diverse board of directors of business and community leaders tasked with promoting the economic and financial benefits of the energy industry. To help build and bind a coalition of support, the board crafted Vital for Colorado’s seven-principle pledge.
Fast forward three years, and 58,000 Colorado businesses, associations and individuals signed the pledge and joined the vast coalition supporting the industry. Today, Colorado boasts a well-regulated and strong energy development sector that supports other industries, small businesses and opportunities for Coloradans.