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State Budget Director Predicts Continued Colorado Growth Despite Nation's Slowdown

DENVER-Colorado will experience a slight slowdown, but its growth will still outpace the national economy, says the state budget director. The state's not immune, but economic indicators are strong enough to weather a storm.

By John Rebchook | Updated on January 24, 2001

DENVER-Colorado’s economy will slow slightly this year and next, but will still out-perform the national economy, according to Nancy J. McCallin, director of the state’s planning and budgeting office.

McCallin, who develops a budget for Gov. Bill Owens and executes Colorado’s $12.6-billion budget, says the 1990s had been very good economically for Colorado. “We were one of the top five states by almost any performance measure,” McCallin said at the 2001 Economic Conference in Denver. “And if you look at all of the economic indicators, we were second in the nation in overall performance. Overall, we were only out-performed by our neighbor to the west, Utah.”

However, one of the reasons Colorado has fared so well is it had been coming off an extremely low case following the energy crash of the mid to late 1980s. At that time, she points out, Colorado had suffered from overbuilding in every sector and office vacancy rates had soared to more than 30%.

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