Greeley’s transformation as an energy economy occurred around 2007 with the advent of horizontal drilling and hydraulic fracturing technology. Greeley is located at the center of the Denver-Julesburg (DJ) Basin; a second-tier production region ranking fifth in oil and sixth in natural gas nationally. Noble Energy, which was acquired by Chevron in 2020, manages a large production area of 350,000 acres. Top sub-clusters include Support Activities for Oil and Gas Operations, Crude Petroleum Extraction, and Natural Gas Distribution. Supplier industries such as heavy engineering, welding and metal fabrication underpin both the oil and gas and renewable energy sectors.
The Greeley Advantage
- Sector Growth: An increase by 157 companies or 105% growth in ten years to 306 total in 2021;
- Employment Growth:
- With almost 1,500 employees in Greeley and 5,800 in the county, the sector has had rapid employment growth of 9.5% annually in the city and 4.4% in the county over 10 years compared to -1.3% nationally;
- Rapid growth has created an employment concentration that is almost 3.6 times greater than the national average in the city and 5.7 times greater in the county;
- Top Employers: Noble Energy (Chevron), Select Energy, Covenant Testing Technologies, All Around Roustabout and Vestas Energy in wind power;
- 2030 Projections: An additional 971 jobs and $82.9 million in wage revenue annually.