Mining a boon to Colorado’s coffers

Mining contributed, both directly and indirectly, a total of US$7.6 billion to Colorado’s economy in 1995, according to a recent study.

In a report entitled Everything Begins with Mining — Mining and the American Economy, the Western Analysis Centre reports that much of the state’s prosperity is attributable to its mining industry.

In 1995, mining contributed US$801 million directly to the state, including US$273 million in wages for 5,500 people employed and US$329 million in income for related business. The sector also accounted for US$73.8 million in state and local taxes, and US$64 million in federal taxes. The value of minerals mined in the state that year was US$995 million.

The industry accounted for total personal income of US$2.2 billion stemming from 77,300 related jobs and a business income of US$4.2 billion. It contributed US$409 million in state and local taxes and US$730 million in federal taxes.