According to research carried out by scholars with the University of Colorado’s Leeds School of Business in late 2015, the oil and gas industry in Colorado contributes significant economic benefits to the state. One way the value produced by oil and gas transforms people’s lives is through substantial job creation. The industry supports nearly 39,000 jobs, and people employed in the industry make on average roughly $100,000 per year.
Beyond the direct impacts to employment in Colorado, the oil and gas sector positively impacts public services by providing tax revenue and other sources of funding for the state. For example, when the industry conducts resource extraction on lands owned by the state, the state is entitled to a royalty. In 2014 alone, that royalty produced nearly $180 million for Colorado schools.