A new study places El Paso County among the state’s top 10 counties generating investment in the local economy.
The study, released last week by personal finance startup SmartAsset, aimed to capture the places across the country that are receiving the most incoming investments in business, real estate, government and the local economy as a whole.
El Paso County ranked 6th among Colorado counties with the most incoming investment. The region received an incoming investment index of 56.56 on a scale of 100, according to the study.
The study looked at four factors: business establishment growth; GDP growth; new building permits; and federal funding per capita, which was determined by the dollar amount of contracts awarded to businesses in each county divided by that county’s population, the study stated.
El Paso County saw its established businesses grow by 6.8 percent over a three-year period and its GDP jump $2.96 million, according to the study.
The number of new building permits per 1,000 homes increased by 17.9 percent, the study found. El Paso County received $4,201 per capita in federal funding.
Denver County took the top spot with an incoming investment index of 74.9. Weld, Douglas, Larimer and Sagauche counties rounded out the top five.
Broomfield, Adams, La Plata and Elbert counties followed El Paso County in the top 10.