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Nestled in the White River National Forest, Vail Valley is home to the world-famous Vail Ski Resort, which attracts visitors all year round. An estimated 1.3 million people make their way to this pristine location each year. Whether you’re an adventure enthusiast, a wellness seeker, or a family traveler, there’s something for everyone here.
However, not many people associate the Vail Valley with industrial businesses. The valley has a robust industrial base that is rapidly growing. The leading industries in Vail include accommodation and food services, retail, healthcare, real estate, and rentals. However, it is the industrial businesses that are the engines of this growth. These include construction and a variety of small manufacturing businesses.
Economic Outlook For Vail Valley
According to a report by Colorado-based Business and Economic Research, the economy is slowly getting back on track after a tough year. The real GDP will return to 2019 levels by Q4 of 2021. The report also notes that the construction industry had a solid year in 2020, and this growth will continue.
Forklift accidents lawyers see many incidents involving forklifts, which are relatively common in the United States. As such, you might imagine the valley’s growing industrial business to have plenty, but despite a productive year for the construction industry, there were no reports of forklift accidents in Vail Valley. This is a stark difference to many other regions, and may be attributed to skilled and highly trained forklift operators in the area.
Doing Business In Vail Valley
For those looking to set up industrial businesses, several factors make Vail Valley an attractive destination. It has a population of 55,000, the majority of which falls in the working age-group. The median age is 37 years, which is relatively young. There are over 4,000 business establishments in the valley, and a good availability of both blue and white-collar workers. The median household income is nearly $90,000, a whopping 42% more than the national average.
The most crucial feature that makes Vail Valley a fantastic destination for businesses is its location. It lies along the state’s primary east-west corridor, providing convenient access to other major cities in the state. The Eagle Country Regional Airport ensures that you can reach a wide audience through your Vail Valley business base. The competitive tax environment rewards investment and innovation.
The Vail Valley already has a strong base of industrial businesses. With an advantageous location, availability of labor, the local population’s high purchasing power, and a favorable tax regime, the valley is set to attract more small industrial businesses in the year ahead.