The Economy Of Denver

Denver is a highly developed country and its graph of economy is continuously increasing. Among the states of America the rank of economy of Denver is twentieth. It has made all the progress by making improvement in its agricultural and mining sector. They have also made advancements in the fields of science and technology. The major economic force in the country is the federal government. It generates its funds by making greater number of exports and less number of imports and the other method adopted by it is that it implements different types of taxes on its people. The different types of taxes include income tax, sales tax, custom duty, excise duty, property tax etc. All the money collected is reused in the developmental projects in the country which in turn up rise the economy of the state.
Geographically Denver is lucky to have mountain states, southwest states, and the western states in its neighborhood therefore its major exports and services are to these areas. In its exports it includes the machinery, medicine and technology. It exports certain types of quick computers, laptops and micro computer chips. They export certain industrial resources, branded products, products related to health safety etc. In the imports it includes the cheaper goods like agricultural products as wheat, corn, rice, maize etc. They import cotton and fabric, handmade garments and carpets etc. The exports of the state are much greater than the imports of the state.
We see that as the city is the capital therefore the federal government resides here. Maximum number of industries, banks and offices lies here. The employment rate in the state is greater as a large number of sectors are working here. The greater rate of employment leads to the progress of the nation and hence the prosperity.
In Denver there are a number of beautiful; parks and the recreational places where the foreigners like to come. Therefore there is a greater share of tourists in the increase in the economy of the state. The foreigners also invest there money in the banks of the Denver because the banks here provide greater profit share.
The total gross domestic product of the country is quite large but the growth rate does not rapidly increase. It is because it has already made a great progress that no further development is made. The country has already achieved a great rate of economy. The inflation rate in Denver is low that shows that there are relatively stable prices and the economy of the state are rapidly making progress.
The high economic rate is because the people in Denver are highly educated and well mannered. The education system here is well developed and a great number of training institutions and research centers have been developed. They all know that how to develop new technology and even how to set up greater business.  The universities here invite the students from all over the world and therefore they earn from this business of education also.

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Economy of Denver

Every city needs to have good sound economy to survive otherwise the city is deserted and abandoned. The attractive factor for people and business in a city is the economy. The more stable the economy will be more people will come here and more will be the city more developed and known by the world. The economy of Denver is based partially on its geographic properties and its connections to some of the most effective and major transport system of the country. Without these major systems the economy might have suffered a huge hit.

Denver is the largest city within 800 km; hence it became the center point for storing and distributing good and services to the Mountain States, Southwest states and Western state. In addition to that, Denver is also located halfway between the large cities of the Midwest and West Coast. Thus this also is another benefit for the city and it once again can be used as a source of storing and distributing goods to these two places aeronautically or by land, either way it is feasible as because of the geographical position of the city. Hence over the years many large scale industries and companies have opened up here in the city and made it the key point in the trading process, thus allowing the flow of cash in to the city and boosting its economy.

Other than the companies that had already been built in Denver, there are many others that relocated to the city like Denver Instrument Company opened its new office in this city in 1895. Then there is AIMCO, the largest owner and operator of apartment communities, with 870 communities and having a headquarter in Denver and employing 3,500 people in the company. Then the world’s largest luggage manufacture company Samsonite opened in 1910 in this city. The Mountain State Telephone and Telegraph Company is also operating in this city and began working in 1911 and now it is the part of giant telecommunication industry, Qwest. The world’s largest producer of automotive belts and hoses, named The Gates are also established in Denver. Then there is a candy company that opened up in 1923 and produced its first candy here in this city, the company was Russell Stover Candies. Wright and McGill Company opened up in 1925 and since it had been responsible for making Eagle Claw brand of fishing gear. In addition to that, the original Frontier Airlines began its first operation at the Denver’s old airport that has now been replaced by DIA.

Along with these many manufacturing companies there are many federal companies and defense companies that the government had built here and then there are some space industries also established here. All of this because of the geographical importance of the city. Then there are many mining companies in the city as there are a large number of mineral in the Mountain state which are worth extracting. Then there is also an oil industry in Denver which house many employers. Along with all this Denver also enjoys fast casual restaurant industry, as many international and national restaurants are present in the city. Hence the economy of Denver depends upon a lot of things rather than just one or two departments.

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