Economic Composite
RCLI = 1.11
The Index quantifies and tracks six categories that foster a healthy economy along with their index weighting indicated in the graph above.
Economic Summary
Rural Colorado towns have historically had a boom or bust character due to their dependence upon a place-based economy. To keep our economy balanced and sustainable it is important to nurture diversity of industries within our community.
To help quantify this diversified strategy, if the top three industry sectors in any community represent more than 50 percent of its revenue sources, the community may be at risk for being too dependent upon a limited number of industries. It is important to look at the economic section of the Index from three vantage points:
1. Economic Diversity — the power to exist/ succeed in areas outside of any one segment.
2. Affordability — what is the cost-of-living
in our community?
3. Strength of our Industrial Base — changes in the personal income of the residents of the county factor into our economy over time.