Economic Health & Diversity, the first report of the 2015-16 edition of the Southwest Colorado Index, is now available. This report examines a variety of economic indicators and trends, including: population, employment sectors, base industries, unemployment, per capita income, and total personal income.
The Index takes a comprehensive look at specific topics in order to measure the overall economic, social and environmental health of the communities in Archuleta, Dolores, La Plata, Montezuma and San Juan Counties - which comprise Region 9.
Key Findings: Population declines throughout the region were common during the last recession as people followed jobs; the declines are reversing as the economy recovers. Post recession, the region's economic conditions have stabilized and economic confidence is currently good, as evidenced by a 5% increase in the number of jobs since 2010.
Each county in the region has varying numbers of jobs in base industries. These industries bring in outside dollars to circulate within the local economy, and are responsible for overall economic growth and change. The Archuleta, La Plata and San Juan County economies are based primarily on tourism. The provision of regional services, such as road construction, is important to Montezuma County. Agriculture related services and forestry remain significant sources of employment for certain parts of the region, especially Dolores County.
In 2014, unemployment rates in Archuleta, Montezuma and San Juan Counties were higher than the state (5.0%) and nation (5.1%). However, when comparing these rates to those of 2010 - 2013 there is a positive trend of substantial decreases in unemployment rates in all counties.
The five counties in southwest Colorado vary in their composition of total personal income. Most income is job based (employment), though significant amounts of income enter our economy from other sources, such as transfer payments and dividends, interest and rents.
The Community Foundation serving SW Colorado, Region 9, Southwest Colorado Council of Governments and the United Way have joined forces to make this report happen. It is important for businesses to have easy access to economic indicators to attract new employees. Also, nonprofits need this information for grant writing and reporting as well as to build a value proposition.
The 2015 edition of the SW Index is financed courtesy of community sponsors. This Economic Health and Diversity report has been sponsored by the Region 9 Economic Development District and the Community Foundation Serving Southwest Colorado.
The SW Index was previously called the Pathways to Healthier Communities Indicator Report. It was first published by Operation Healthy Communities Inc. (OHC) in 1996. After OHC produced five editions of the Indicator Report, the Region 9 Economic Development District of Southwest Colorado took over publication in 2008. This report has not been updated since. A web based format has been chosen over a printed report and is available at www.scan.org and http://www.swcommunityfoundation.org/Fiscal-Sponsorships.
