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Trends in the Durango/La Plata County economy may be seen by examining a number of different data series. Table XIII-5 shows the trend of Personal Income and Per-capita Personal Income in La Plata County since 1980. In recent years Per-capita Personal Income in La Plata County has been between 80-85 percent of both the U.S. and Colorado average.
| Year | Personal Income | Per-capita Personal Income |
|---|---|---|
| 1980 | $238,400,000 | $ 8,766 |
| 1981 | 273,900,000 | 9,600 |
| 1982 | 297,100,000 | 9,994 |
| 1983 | 323,162,000 | 10,718 |
| 1984 | 345,120,000 | 11,206 |
| 1985 | 369,515,000 | 11,625 |
| 1986 | 381,929,000 | 12,014 |
| 1987 | 394,256,000 | 12,380 |
| 1988 | 432,387,000 | 13,537 |
| 1989 | 458,781,000 | 14,297 |
| 1990 | 507,503,000 | 15,638 |
| 1991 | 552,678,000 | 16,501 |
| 1992 | 602,054,000 | 17,399 |
A number of other indicators are useful in determining trends in the La Plata County economy. Table XIV-5 shows data for retail sales, bank deposits, and assessed valuation in La Plata County since 1980. These data suggest that the local economy has been expanding in recent years.
La Plata County, 1980-1993*
| Year | Retail Sales ($1,000) | Bank Deposits ($1,000) | Assessed Valuation ($1,000) |
|---|---|---|---|
| 1980 | $235,875 | $100,409 | $133,574 |
| 1981 | 272,481 | 111,030 | 150,792 |
| 1982 | 285,679 | 145,641 | 172,336 |
| 1983 | 308,377 | 214,573 | 179,504 |
| 1984 | 336,930 | 230,217 | 233,019 |
| 1985 | 338,557 | 236,102 | 250,686 |
| 1986 | 337,975 | 280,467 | 254,361 |
| 1987 | 329,994 | 271,000 | 387,441** |
| 1988 | 351,680 | 267,918 | 375,615 |
| 1989 | 385,719 | 283,157 | 367,289 |
| 1990 | 438,152 | 291,159 | 396,535 |
| 1991 | 480,073 | 304,920 | 430,374 |
| 1992 | 599,849 | 326,101 | 445,216 |
| 1993 | 582,206 | 389,686 | 516,833 |
** Major county reassessment in 1987.
As mentioned in several sections of this report, tourism remains Southwest Colorado's major industry. The major tourist attractions include Mesa Verde National Park, the Durango & Silverton Narrow Gauge Railroad, the Purgatory-Durango Ski Resort and the San Juan National Forest. Many tourists arrive by plane through the Durango-La Plata County Airport. Trends in visitation and travel are shown in Table XV-5 below.
| Year | D&S NG RR Passengers | Mesa Verde Visitors | Airport Activity | Purgatory Skier Days |
|---|---|---|---|---|
| 1980 | 103,000 | 541,000 | 99,000 | 177,000 |
| 1981 | 124,000 | 590,000 | 90,000 | 251,000 |
| 1982 | 143,000 | 603,000 | 88,000 | 279,000 |
| 1983 | 147,000 | 604,000 | 107,000 | 278,000 |
| 1984 | 170,000 | 517,000** | 159,000 | 306,000 |
| 1985 | 171,000 | 656,000 | 178,000 | 306,000 |
| 1986 | 164,000 | 659,000 | 191,000 | 330,000 |
| 1987 | 172,000 | 729,000 | 195,000 | 338,000 |
| 1988 | 187,000 | 708,000 | 177,000 | 305,000 |
| 1989 | 201,000 | 600,000*** | 190,000 | 313,000 |
| 1990 | 198,000 | 611,000 | 194,000 | 196,000**** |
| 1991 | 210,000 | 678,000 | 191,000 | 269,000 |
| 1992 | 213,000 | 742,000 | 209,000 | 299,000 |
| 1993 | 207,000 | 666,000 | 215,000 | 315,000 |
*SOURCE: Durango & Silverton Narrow Gauge Railroad, Mesa Verde National Park, Durango-La Plata County Airport, Purgatory-Durango Ski Resort.
**Access road closed for construction
***Change in method of tabulation
****Drought conditions
The Office of Economic Analysis and Business Research in the School of Business Administration at Fort Lewis College has created a composite index of the Durango/La Plata County economy. Known as the Econometer Index, the Index includes data series that represent several different sectors in the local economy. Included are tourism, retail sales, employment, agricultural prices, industrial kilowatt hours, residential electric meters, bank deposits, enrollment at Fort Lewis College, building permits, energy prices, and residential real estate prices. The Econometer Index was created in 1990, and is calculated quarterly. It appears in the Econometer, a quarterly publication of the School of Business Administration at Fort Lewis College.
The Econometer Index had an average value of 100 in 1990, the year of its creation. In 1991 the average value increased to 108, in 1992 it rose to 121, and in 1993 the average value was 129. These increases in the Index suggest that the Durango/La Plata County economy has been expanding since 1990.
The Econometer Index also illustrates the seasonal changes which occur in the local economy. The summer tourist season is the time of greatest economic activity. However, after the summer tourists leave, then the college students arrive, followed by the skiers. Fort Lewis College and the ski industry act as seasonal stabilizers so that the local economy is a year-round economy. Table XVI-5 displays the values of the Econometer Index by quarter since 1990. To see the growth trend in the local economy, compare the third quarter of 1990 to the third quarters in 1991, 1992, 1993, and 1994.
Quarterly, 1990-94*
| Quarter | Index Value |
|---|---|
| Q1 1990 | 88 |
| Q2 1990 | 93 |
| Q3 1990 | 134 |
| Q4 1990 | 86 |
| Q1 1991 | 97 |
| Q2 1991 | 98 |
| Q3 1991 | 146 |
| Q4 1991 | 92 |
| Q1 1992 | 105 |
| Q2 1992 | 110 |
| Q3 1992 | 159 |
| Q4 1992 | 108 |
| Q1 1993 | 120 |
| Q2 1993 | 117 |
| Q3 1993 | 164 |
| Q4 1993 | 116 |
| Q1 1994 | 128 |
| Q2 1994 | 126 |
| Q3 1994 | 169 |
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