Editing Grand Junction, Colorado (section)

===Economic history===
From the time settlers arrived in the 1880s until the 1960s, three of the main economic activities in the region were farming, fruit growing, and cattle raising.  Fruit orchards, particularly between Grand Junction and Palisade to the east, remain important to the region's reputation and economy to the present day.  Fruits most often grown are peaches, pears, apricots, plums, cherries, and, particularly since the 1980s, grapes for wine.  In this semi-arid environment, these orchards thrive from a combination of abundant sunshine and irrigation from a system of canals that divert water from the Colorado River.

Attempts were made to establish sugar beet farming and beet sugar production. The Grand Valley Sugar Company established a campaign in 1893, sending three train carloads to the [[Utah-Idaho Sugar Company]]. Several tariffs and subsidies to domestic sugar were established in the 1890s, which led to uncertainty in the market. After the 1897 [[Dingley Act]], the company was revived in 1898 and rallied to build a sugar factory. They failed to fundraise to build the plant. At the same time, Charles N. Cox was able to organize an effort to establish a factory in 1898 as well. [[John F. Campion]] and others including [[James Joseph Brown]], [[Eben Smith]], Charles E. Mitchell, George Trimble, James R. McKinnie, and [[Charles Boettcher]] invested, creating the Colorado Sugar Manufacturing Company in 1899 and contracting [[E. H. Dyer]] to build a factory. The failed to succeed, so they sold the plant to local investors, who were able to make it a success. The Campion-Boettcher group then created the [[Great Western Sugar Company]].<ref name="silverwedge">{{Cite web |title=Silver Wedge: The Sugar Beet Industry in Fort Collins |author=Eric Twitty |work=SWCA Environmental Consultants |date=August 2003 |access-date=August 9, 2020 |url=https://www.fcgov.com/parkplanning/files/silver-wedge_the-sugar-beet-industry-in-fort-collins_a-historical-context.pdf}}</ref>

Retail sales have been important to the economy for decades (e.g., gasoline, and hunting- and fishing-related sales).<ref>[https://web.archive.org/web/20090123111955/http://www.museumofwesternco.com/learn/grand-valley-history/history-timeline/ History Timeline]. Museum of Western Colorado</ref>

Grand Junction was home to the [[Climax Uranium Mill]], a now decommissioned mill that provided uranium ore to the [[US Atomic Energy Commission]]. It produced 2.2 million tons of uranium tailings a by product of uranium mining which can be unsafe. For decades, Grand Junction residents were able to collect as much of the fine gray sand as they wanted for free. It was used as construction material all over town.<ref>{{cite news |last1=Lofholm |first1=Nancy |title=Grand Junction keeps its grave for radioactive, Cold War dirt thanks to new coronavirus-aid package |url=https://coloradosun.com/2020/12/29/grand-junction-cold-war-nuclear-waste-dump/ |access-date=11 February 2025 |work=The Colorado Sun |date=29 December 2020}}</ref><ref>{{cite news |last1=Riffel |first1=Molly |title=AEC Playground in the Rockies Is in Colorado |work=Colorado Springs Gazette |date=April 23, 1970 |page=77}}</ref>

Education and healthcare have been important to the economy of the area, especially since the 1950s, with the rise of [[Colorado Mesa University]] and St. Mary's Hospital as leading employers in these fields.

Vast [[oil shale]] reserves were known to exist near [[Parachute, Colorado]] in the [[Piceance Basin]]. The oil embargoes of the 1970s and high gas prices resulted in major financial interest in the region. Exxon purchased rights and used Grand Junction as its seat of operations. The city and the surrounding [[Grand Valley (Colorado-Utah)|Grand Valley]] became prosperous in the 1970s and early 1980s largely because of the effects of [[oil shale]] development. The United States, western Colorado in particular, has the largest-known concentration of oil shale in the world (according to the Bureau of Land Management) and holds an estimated 800 gigabarrels of recoverable oil, enough to meet U.S. demand for oil at current levels for 110 years. Known as the "Rock That Burns", the shale can be mined and processed to produce oil. In the past it was significantly more expensive than conventional oil. Sustained prices above $95 per barrel, however, may make extraction economically attractive in the coming years (see [[Oil shale economics]]). ExxonMobil pulled out of the region because of lower oil prices, which led to economic hardship in the region.

The economic bust, known as "Black Sunday" (May 2, 1982) to the locals, started with a phone call from the president of Exxon to Governor [[Richard Douglas Lamm]], stating that Exxon would cut its losses while retaining mining rights to the (then and currently) uneconomic oil. The economic bust was felt statewide, as Exxon had invested more than {{US$}}5 billion in the state. Colorado historian [[Thomas Noel (historian)|Tom Noel]] observed, "I think that was a definite turning point, and it was a reminder that we were a boom-and-bust state ... There were parallels to the silver crash of 1893."<ref>{{cite web |url=http://denver.rockymountainnews.com/millennium/1005mile.shtml |title=Oil shale collapse preserved scenic vistas |author=Richard Williamson |work=Denver Rocky Mountain News |date=October 5, 1999 |access-date=June 3, 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090627030617/http://denver.rockymountainnews.com/millennium/1005mile.shtml |archive-date=June 27, 2009}}</ref>

By 2008, the economy of Grand Junction appeared to be more diverse and stable than it had been in previous decades. Major contributors to the economy were health care, tourism, agriculture, livestock, and energy mining (gas and oil). Major energy companies had once again invested large amounts of money due to increases in oil and natural gas prices (such as in the years 2005–2008). However, a major drop (in the summer of 2008) of market [[natural gas]] prices led to reduced gas well drilling and related capital expenditures in the area, significantly slowing the Grand Junction economy in 2009. Reports given in 2009 suggested that Grand Junction had once again been hard-hit economically, with one report by April 2010 listing the area as having had the largest percentage drop in employment of any "small city" in the entire United States.<ref>The Adams Group, [http://www.coloradoeconomy.com/news.html Coloradoeconomy.com, "Today's Economy"] {{webarchive|url=https://web.archive.org/web/20080511203842/http://www.coloradoeconomy.com/news.html |date=May 11, 2008 }}. April 23, 2010. Retrieved December 5, 2010</ref>

By 2008, Grand Junction was being discovered by the "nation's elite business and leisure travelers" as a destination for private jet travel, with nearby [[Powderhorn Resort]] and other ski resorts a major attraction.<ref>[http://denver.bizjournals.com/denver/stories/2008/01/07/daily57.html "Colo. gets two spots on luxury-travel list"]. ''Denver Business Journal''. January 11, 2008. Retrieved January 12, 2008</ref>