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COMMUNITY CONTEXT: DEMOGRAPHICS AND ECONOMICS Over the past decade, while the population steadily increased, economic development has remained stagnant. Population grew by almost a third while employment decreased by 50% and retail sales remained relatively static. As Rico’s population ages, the town must attract and retain younger residents in order to maintain stable population growth. If economic development is going to occur in conjunction with population growth, new economic opportunities must be explored and developed. It is the community’s hope that developing geothermal resources will expand and diversify the economy in a way that is sustainable for the long term. In 2000 the population totaled 205, and through 2010 total population grew to 265. In the past decade, Rico’s population increased by 29%, gaining 60 residents . Since 2000 Rico’s population has become generally older. Age cohorts under 14 and over 55 saw proportional increases while cohorts between 15 and 54 saw proportional decreases. In 2000 individuals over 55 made up 9% of the population, by 2010 this ratio increased to 22%. Population by Age FIGURE 3 – RICO POPULATION CHANGE 2000‐2010 2000 2010 Change Annual Change Total % Change 205 265 60 5 29% SOURCE: US CENSUS BUREAU FIGURE 4 – RICO POPULATION PERCENT CHANGE BY AGE 2000‐2010 350% 300% 250% 200% 150% 100% 50% 0% ‐50% ‐100% 100% 67% 25% 300% 200% 200% 50% 0% 0% 2000 2010 % Change ‐7% ‐60% ‐50% ‐54% SOURCE: US CENSUS BUREAU 8PDF Image | Geothermal Energy Master Plan Town of Rico, Colorado
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