Economy Experts Say Western Slope Could See Another Bust

By: Tim Ciesco Email
By: Tim Ciesco Email

While many economists say the country is in the midst of a recession, once expert says the Western Slope is experiencing anything but -- at least for now.

During a speech on Tuesday afternoon, renowned economist Tucker Hart Adams said Grand Junction is in a unique position in comparison to the rest of the state.

She says the energy development industry has brought high paying jobs to the area and kept local employment growth rates strong. As a result, the housing market has remained stable and retail sales are high.

Hart Adams does warn, however, there is a danger in having an economy based on a single industry.

"I think we probably will have another bust like we had after oil shale," said Hart Adams. "I would be very surprised to see the same number of natural gas wells continue to be drilled that have been drilled over the last couple of years."

Hart Adams notes that it takes fewer people to operate natural gas wells once they're done being drilled. She says as long as the drilling continues, the Western Slope's economy will stay strong.

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