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Steamboat Springs — The leader of Colorado's Department of Local Affairs painted a picture Wednesday of where the state is and where it hopes to go amid recession.

DOLA Executive Director Susan Kirkpatrick spoke about Colorado's job losses and its unemployment at the Economic Summit at the Steamboat Grand Resort Hotel. She also highlighted the state's assets, however, and discussed how officials would work to maintain them.

State unemployment is at 7.5 percent, which is less than the U.S. rate of 8.5 percent. Colorado has lost 73,700 jobs since August, Kirkpatrick said.

"When in the past we have led recessions and lagged a bit in recovery, this time we lagged a bit in the recession, though we appear to be leading a bit in recovery," she said. But Gov. Bill Ritter's office doesn't think the state has hit the bottom, Kirkpatrick said.

The state has attributes that will help it recover, she said. Kirkpatrick pointed to quality state universities and labs and the role those could have in development of new energy technology. She also noted that people want to come here.

"We're also fortunate to have such a fine quality of life that continues to attract and retain high-quality entrepreneurs and intellectuals," Kirkpatrick said.

Colorado also is on top in terms of getting stimulus money through the federal American Recovery and Reinvestment Act, she said. Stimulus road projects started Tuesday, she said.

"Colorado is leading the nation (with) more than 50 percent contracted projects," Kirkpatrick said. "And it's well within the 120 days required for 50 percent contracted projects."

Money will come to the state for projects in broadband Internet, job training, housing assistance, weatherization/energy efficiency, transportation and community development, she said.

The program will encounter hitches, Kirkpatrick said.

"I can be pretty sure we'll have some errors in ARRA, and there are lots of mechanisms in place to keep us from having fraudulent use, but I can expect that there will be some challenges," she said. "It's unrealistic to expect perfection."

When questioned about furloughs and staff reductions, Kirkpatrick explained that the state was cutting where it could.

"We worked very carefully with the General Assembly, and we've come up with a package," she said. "There are four furlough days for state employees that are for sure. When we receive additional information about the June receipts, we might end up doing more furloughs."

Kirkpatrick framed the recession in positive terms.

"Though Colorado has significant problems, we are better off than much of the nation," she said.

The Economic Summit, "Thriving in Tough Economic Times," continues today. It will carry that optimistic note, organizer Grant Fenton said.

"The entire day is really focused upon outlining and just really trying to get all the opportunities we can presented to us in these tough times," Fenton said.