EXECUTIVE UPDATE /February 10, 2005

An “Economic Blueprint for the Colorado Springs Community” was outlined by EDC President Rocky Scott at the Annual EDC Report to the Community luncheon in January. The plan’s key elements include: (1) Offer high quality talent, (2) Provide high quality infrastructure tools, (3) Repair the fiscal mess, (4) Prepare for defense mission rebasing, (5) Develop our economic anchors (Colorado Springs Airport, Downtown, UCCS Center for Innovation-North Nevada Avenue), (6) Expand economic growth sectors: protect our current base, build on strengths, grow through leverage, (7) Block and tackle – execute the fundamentals of retaining, expanding, attracting and creating jobs, (8) Collaborate, demonstrate teamwork, exercise bold leadership. For more information and to review the 2004 Economic Highlights for the Colorado Springs metropolitan area, go to www.coloradosprings.org.
Colorado Springs software companies Intelliden Inc. and XAware received more money from venture capital investors during the fourth quarter of 2004 than any other companies in Colorado. Each company received $10 million, according to the Money Tree Survey of venture capital investing in the U.S. Local firms OrganicID Inc. and Pyxant Labs Inc. also received venture capital funds in 2004. (Source: The Gazette.)
Penrose Hospital was one of the top five percent of U.S. hospitals that recently earned a “Distinguished Hospital Award for Clinical Excellence.” Health Grades, an independent organization focused on health care quality, recognized 229 of the 5,000 hospitals that were considered. (Source: Fox News Channel.)
Colorado Springs ranks high in B.A. degrees. In a recent ranking of 233 U. S. counties by number of bachelor’s degree holders, El Paso County ranks 55th. Of the population over age 25, 36.5% of El Paso County residents have at least a Bachelor’s degree. In Colorado, Boulder County ranks 3rd with 56% and Denver County ranks 33rd at 40.8%. (Source: 2003 American Community Survey, U.S. Census Bureau.)
The demographics of the “average” student have changed. About 46% of high school students delay starting college. In Colorado, 31.0% of students in the 18-24 age category are enrolled in college. The highest percentage nationally is 48.0%. (Source: Colorado Business Review )
Colorado’s quality of life was rated high, nearly three times the national average, by 600 Colorado business executives interviewed by 12 local and regional economic development organizations throughout the state in 2004. Quality and availability of the workforce was another notable strength. Transportation/infrastructure and tax structure/abatement were viewed as weaknesses. Regulations, business costs and business market factors were seen as barriers to growth. (Source: Colorado Office of Economic Development & International Trade.)
The gap between Colorado per capita income and U.S. per capita income is expected to widen in 2005 with annual averages of $36,350 for Colorado and $32,431 for the U.S. Total personal income is projected to increase 5.2% in Colorado, compared to 4.3% in the U.S. (Source: Colorado Business Review )
The number of U.S. charities has doubled since 1990 to 800,000 according to Internal Revenue Service reports. Since 1999, nearly 35,000 religious organizations were created along with 30,000 education groups and 24,000 social services groups. Arts and culture organizations increased by nearly 20,000. (Source: Association of Fundraising Professionals.)
Small Business Innovation Research (SBIR) funding will be the subject of a statewide conference February 15-16 at the Holiday Inn, Denver International Airport. For more information, go to www.SBIRColorado.org. Over $2 billion in early stage funding is available to technology companies in the U.S. every year through SBIR grants and the Small Business Technology Transfer program.
Colorado College is presenting the 2005 Colorado College State of the Rockies Conference on April 5-7. Topics will include Energy, Civic Capacity and Engagement, National Parks under Stress, Sprawl, Toxic Pollution, Creative Occupations, Native American Sovereignty, and Regional Management in Greater Yellowstone. Bill Richardson, Governor of New Mexico, will be the Conference Keynote Speaker. For more information and to register, go to www.coloradocollege.edu.