The Bureau of Economic Analysis estimates that the total state product in 2006 was $230 billion. Per capita personal income in 2003 was $34,561, putting Colorado eighth in the nation. The state's economy broadened from its mid-19th century roots in mining when irrigated agriculture developed, and by the late 19th century, raising livestock had become important. Early industry was based on the extraction and processing of minerals and agricultural products. Current agricultural products are cattle, wheat, dairy products, corn, and hay.

The federal government is also a major economic force in the state with many important federal facilities including NORAD, United States Air Force Academy and Peterson Air Force Base in Colorado Springs; NOAA and the National Institute of Standards and Technology in Boulder; U.S. Geological Survey and other government agencies at the Denver Federal Center in Lakewood; the Denver Mint, Buckley Air Force Base, and 10th Circuit Court of Appeals in Denver; and a federal Supermax Prison and other federal prisons near Caņon City. In addition to these and other federal agencies, Colorado has abundant National Forest land and four National Parks that contribute to federal ownership of 24,615,788 acres of land in Colorado, or 37% of the total area of the state. In the second half of the 20th century, the industrial and service sectors have expanded greatly. The state's economy is diversified and is notable for its concentration of scientific research and high-technology industries. Other industries include food processing, transportation equipment, machinery, chemical products, minerals such as gold and molybdenum, and tourism. Colorado also produces the largest amount of beer of any state. Denver is an important financial center.

A number of nationally known brand names have originated in Colorado factories and laboratories. From Denver came the forerunner of telecommunications giant Qwest in 1879, Samsonite luggage in 1910, Gates belts and hoses in 1911, and Russell Stover Candies in 1923. Kuner canned foods began in Brighton in 1864. From Golden came Coors beer in 1873, CoorsTek industrial ceramics in 1920, and Jolly Rancher candy in 1949. CF&I railroad rails, wire, nails and pipe debuted in Pueblo in 1892. The present-day Swift packed meat of Greeley evolved from Monfort of Colorado, Inc., which was established in 1930. Estes model rockets were launched in Penrose in 1958. Waterpik dental water jets and showerheads began in Fort Collins in 1962. Celestial Seasonings herbal teas have been made in Boulder since 1969. Rocky Mountain Chocolate Factory made its first candy in Durango in 1981.

The Colorado State Capitol Building, located at 200 East Colfax Avenue in Denver, Colorado, is the home of the Colorado legislature and the offices of the Colorado Governor and Lt. Governor. The building is intentionally reminiscent of the United States Capitol. Designed by Elijah E. Myers, it was constructed in the 1890s from Colorado white granite. The distinctive gold dome consists of a plate of real gold, first added in 1908, commemorating the Colorado Gold Rush. The building is part of Denver's Civic Center area.

The interior of the building uses copious amounts of Colorado Rose Onyx, a rare rose marble from a quarry near Beulah, Colorado. The amount used in the building consumed the entire known supply. White Yule Marble from the quarries near Marble, Colorado was also used throughout the capitol for the floors. Many designs have been found in the marble including an image resembling George Washington and another of Molly Brown.