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Colorado's high quality of life comes from a combination of natural resources, diverse recreational opportunities, moderate climate, numerous cultural activites, world-class health care, and an excellent public school system. Colorado's economy is based in a variety of high-tech sectors as well as traditional industries, including biotechnology, aerospace, and defense industries.
The largest employer in Colorado is government, followed closely by the services industry, of which the largest subsector is business services. Other major industries by employment include tourism, manufacturing, agriculture, and mining. The top six export sectors (excluding agriculture) are computers, peripherals, semiconductors, analytical and measuring instruments, medical instruments and equipment, and telecommunications equipment.
Colorado is moving away from its dependence on agriculture and natural resources and towards more high-tech and service industries. Several economic trends show clear signs that this transformation is successful. According to the Progressive Policy Institute’s 2002 The State New Economy Index, Colorado ranked fourth overall, behind Massachusetts, Washington, and California, based on 21 measures designed to assess the state's progress in adapting to the new economy. Colorado also ranked 1st in knowledge jobs, 1st in information technology jobs, 2nd in workforce education, 2nd in high-tech jobs, and 3rd in venture capital as a percentage of the GSP.
In 2000, the GSP of Colorado was $168 billion, or 1.7% of the national gross domestic product, and ranked 21st among the 50 states and DC. National forecasts by the Bureau of Economic Analysis project that Colorado will continue to remain in the top ten states for GSP growth though the first decade of the 21st century.
The cost of living in Colorado is above the national average and per capita income in 1999 was $24,049 which was above the national average of $21,587. Home ownership rate is 67.3%, higher than the national average of 66.2%.
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