Is Colorado’s future dependent on the marijuana industry?

[John D.]

Colorado has low unemployment, a growing population, and low property tax. These are attractive attributes that make me want to live and invest in Colorado. But I wonder whether this is the result of the booming marijuana industry or if the state is well diversified. When marijuana becomes nationally accepted, will Colorado suffer from a loss of that industry?

[Linda Weygant]

Colorado was an amazing place to live with a booming economy long before marijuana legalization.  We did not suffer quite as hard in the economic down turn and we bounced back quicker and higher than most other places in the nation.  Besides marijuana, we have the following markets throughout various parts of the state:

Medical

Tech

Tourism / Sports Training

Agriculture 

Oil & Gas

Education

Finance

Construction

We have a 4.63% income tax and combined sales taxes in most towns hover around 8%.  Our property taxes are pretty reasonable, although the recent boom means our valuations are increasing (causing a sharp rise in the amount of property taxes we pay) but the mill levies themselves are still pretty reasonable.

Politically, we are a somewhat purple state, so people from all walks find commonality here (although we are definitely sliding towards blue as time goes by).  

We have 300 days of sunshine, amazing access to the outdoors, diverse cultural draws and relatively mild(ish) weather.

I sound like a Dept of Commerce ad, but all in all I think it's pretty safe to say that if marijuana were outlawed again tomorrow, we'd have a slight relief in the absolute insanity that is our housing market and an equal amount of relief in the unbelievable traffic issues we're facing right now, but not so much that it will ever go back to the "good ol' days" when an oil and gas bust in the 80s decimated the state.