Incorporating: Colorado, Idaho, Montana, Utah and Wyoming.
Continued growth is forecasted for the Rocky Mountain industrial gas market. The addition of a new liquefier, in 2017, at Praxair’s site near Salt Lake City, should facilitate positive growth average annual increases of between 3.2% in a low scenario, and 5.3% in a high scenario over the next five years.
The combined GDP of the five states that are included in the Rocky Mountain region totalled $610 billion in 2015. Approximately half of this was generated by Colorado alone, and another $150 billion contributed by Utah.
Over the past decade (2005-2015), GDP growth has averaged at 3.7% p.a. Actual GDP growth has fluctuated somewhat since 2000 – the region’s economy went into recession in 2009 – yet only witnessed a decline of -3.4%, a much smaller drop than many of the other regions in the US.
Report Data: 2016
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