The profile of the economy of Castile-Leon has undergone profound changes in the second half of the 20th century. As a result, its current image is nothing like it was in the mid-1950s. Over this period output has increased considerably, as has income per capita. The economic structure has changed its original profile radically, above all to the detriment of the primary sector and the benefit of the tertiary, and the stock of physical capital has increased considerably. This research project, which highlights the need for a more flexible labor market and greater promotion of new productive and commercial niches, is the result of collaboration between the BBV Foundation and the Valencian Institute for Economic Research (IVIE) to study the Spanish regional economy.