After a nine percent increase in sales tax revenue in the seven-county Denver metro area, the region is headed for a six percent increase this year. A one-percent sales tax, a common source of revenue for municipalities and counties in the area, would produce more than $550,000,000 region-wide, a fifty percent increase since the 2008-09 recession.
The Denver Business Journal reports that the metro area added 22,200 jobs the first six months of the year, an upward revision of 12,800 additional jobs. The growth rate of 3.9 percent is a full percentage point above the state rate. There were some losses in oil and gas jobs, but residential construction is hot.
The Denver Business Journal also reported the state has the second highest growth in personal consumption in the U.S., tied with Texas (just measures of consumer spending on goods and services) and just behind North Dakota (which is slowing down rapidly) (5.7% in Colorado and Texas vs. 4.2% nationally).
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