Wednesday, February 13, 2008

Business Growth Created by Energy Industry

By Chris

A survey conducted by the Grand Junction Area Chamber of Commerce found that 90% of the 246 respondents' businesses had been affected by growth in the energy industry during the past two years. Also, 67% of the people surveyed said that "their businesses had grown as a result of energy activity." Out of those, 19% said that their businesses grew more than 20%. Only 3% of the 246 people surveyed said that business declined.

According to respondents, several benefits were associated with the region's energy activity, which included "higher wages, strong retail sales" and "insulation from a potential recession." Some of the challenges are "work force issues,"rising wage levels," and "difficulty in recruiting due to housing costs." The energy industry is clearly affecting business growth in the Grand Valley, and this trend should continue.

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