With its focus on high-tech, this region is suffering from a boom/bust syndrome. When times are good, they are very good, but when times are bad, they are a disaster.
With layoffs in these industries, the office vacancy markets in the region's largest cities aren't pretty. Denver, Phoenix and Las Vegas have office vacancy rates of at least 20 percent.
Yet, this region still has an enormous amount of residential construction. While down from their record residential construction numbers of the 1990s, Denver, Phoenix and Las Vegas are still among the top homebuilding markets. Arizona and Colorado also still rank among the Top 10 fastest-growing states in the United States, in terms of in-state migration.
ELECTRICAL WHOLESALERS' SALES
(in millions of dollars) EW Estimates | | Final 1998 | Final 1999 | Final 2000 | Final 2001 | Forecast 2002 | Forecast 2003 |
|---|
| Mountain | 3,420.7 | 3,632.6 | 3,869.1 | 4,260.0 | 4,199.4 | 4,376.8 |
| Arizona | 916.2 | 978.8 | 1,042.6 | 1,147.9 | 1,131.6 | 1,179.4 |
| Colorado | 953.0 | 1,023.7 | 1,090.3 | 1,200.5 | 1,183.4 | 1,233.4 |
| Idaho | 193.5 | 201.4 | 214.5 | 236.2 | 232.8 | 242.6 |
| Montana | 136.5 | 142.1 | 151.4 | 166.7 | 164.3 | 171.2 |
| Nevada | 542.0 | 588.0 | 626.3 | 689.6 | 679.8 | 708.5 |
| New Mexico | 175.3 | 183.5 | 195.4 | 215.2 | 212.1 | 221.1 |
| Utah | 423.5 | 425.8 | 453.6 | 499.4 | 492.3 | 513.1 |
| Wyoming | 80.7 | 89.2 | 95.1 | 104.7 | 103.2 | 107.5 |
EMPLOYMENT STATISTICSActual EC | in thousands | | | M | F/S/RT | G |
|---|
| Mountain | 65,688 | 694.6 | 4,846.9 | 1,501.6 |
| Arizona | 15,768 | 194.8 | 1,285.0 | 366.5 |
| Phoenix-Mesa MSA | 12,112 | 145.7 | 934.5 | 195.4 |
| Tucson MSA | 1,881 | 32.3 | 190.9 | 74.3 |
| Colorado | 21,151 | 185.7 | 1,241.0 | 354.0 |
| Boulder-Longmont PMSA | 1,007 | 28.1 | 108.5 | 27.6 |
| Colorado Springs MSA | 1,467 | 27.0 | 146.6 | 41.1 |
| Denver PMSA | 13,651 | 80.6 | 667.7 | 162.1 |
| Idaho | 3,805 | 71.4 | 289.1 | 114.9 |
| Boise City MSA | 1,871 | 34.8 | 120.2 | 35.9 |
| Montana | 2,223 | 23.6 | 226.7 | 85.4 |
| Billings MSA | NA | 3.4 | 43.2 | 8.2 |
| Missoula MSA | NA | 3.1 | 31.2 | 8.8 |
| Nevada | 8,576 | 46.3 | 698.7 | 129.0 |
| Las Vegas MSA | 7,284 | 26.0 | 540.7 | 84.2 |
| Reno MSA | 1,254 | 14.6 | 118.9 | 25.3 |
| New Mexico | 6,001 | 41.9 | 410.1 | 191.4 |
| Albuquerque MSA | 4,013 | 27.6 | 205.2 | 71.7 |
| Las Cruces MSA | 443 | 3.2 | 29.4 | 17.9 |
| Santa Fe MSA | 352 | 1.8 | 42.8 | 26.8 |
| Utah | 6,408 | 120.1 | 574.8 | 196.2 |
| Provo-Orem MSA | 448 | 17.1 | 92.3 | 21.9 |
| Salt Lake City-Ogden MSA | 4,716 | 76.4 | 382.8 | 125.5 |
| Wyoming | 1,901 | 10.8 | 121.5 | 64.2 |
| Casper MSA | 355 | 1.7 | 17.6 | 5.7 |
NA — Not available
MSA — Metropolitan Statistical Area
PMSA — Primary Metropolitan Statistical Area
CMSA — Consolidated Metropolitan Statistical Area
EC — Electrical contractor employees. Actual numbers.
M — Manufacturing employees in thousands.
F/S/RT — Commercial accounts (finance, services, retail trade) employees in thousands.
G — Government employees in thousands. |
