EXECUTIVE UPDATE / March 28, 2006

Local Primary Employers Plan Expansions. In 2005, the Business Retention and Expansion Visitation (BREV) Program visited 95 primary employers in El Paso County. Of those companies visited, 75% indicated that they plan to expand in the next three years. These expansions are estimated to create over 1,600 new primary jobs, have a dollar investment of over $500 million (building / infrastructure and equipment purchases), and add an additional 621,000 square feet to the companies’ existing facilities. For more information on the BREV Program, please contact Kara Roberts, Vice President of Business Retention and Expansion at kroberts@csedc.org.
The EDC Board voted unanimously to oppose Amendment #38 or the Petition Rights Amendment as essentially “bad” government. The amendment is intended to make it even easier to change the Colorado Constitution and expands initiative process to counties and special districts at a time when the ballot proposals enacted in the recent past, like TABOR, Amendment 23, Gallagher and others, have greatly impacted on the legislature’s ability to effectively budget and govern the state. The recent Economic Futures Panel report, Promise in Peril, highlighted our penchant for amending our state constitution as a “highly questionable way to run a modern, complex state government….It has allowed special interests the opportunity to shape public policy…and has crippled the state’s ability to make timely decisions in the face of changing economic circumstances, institutional needs or increasing economic competition from other states.” For more information on this issue please contact Mike Kazmierski at mjkazmierski@csedc.org.
The 2005 Economic Development Leadership Awards were presented at the March 23rd EDC luncheon to Governor Bill Owens, Congressman Joel Hefley, Barclays, SkyWest Airlines, Intel, Colorado Springs Utilities, Nor’wood Development Group, La Plata Investments, Classic Communities, Inc., the Housing & Building Association of Colorado Springs, The Downtown Partnership, Richard Skorman and volunteers Ralph Braden, Phil Hagen and Councilman Jerry Heimlicher. For press release, click here.
Brian Vogt, Director of the State of Colorado Office of Economic Development and International Trade, presented a Five Point Strategic Plan at the March EDC luncheon. The Five Point Strategic Plan encompasses the components needed for Colorado to take advantage of the opportunity to redefine how economic development is accomplished. The five points of the plan are Integration, Communication, Culture, Policy, and Strategy. For more information about this plan or the State of Colorado Office of Economic Development and International Trade, visit www.advancecolorado.com/about.cfm.
The international space community will converge on Colorado Springs for the 22nd Annual National Space Symposium April 3 – 6, at The Broadmoor. The Space Foundation is anticipating an unprecedented number of industry leaders, military and government officials, and general space enthusiasts will converge on Colorado Springs to hear the latest on Space Exploration, Earth Observations, Mobile Satellite Broadband, DoD Acquisitions, Research and Development, Global Space Competitiveness. Actor, director, and producer Tom Hanks will be honored with the 2006 Douglas S. Morrow Public Outreach Award. The award recognizes outstanding contributions toward increasing public awareness of and support for the exploration and development of space. EDC and The Space Foundation will co-sponsor a luncheon on Tuesday, April 4th, at The Broadmoor, with an address by Elliot G. Pulham, President and Chief Executive Officer of the Space Foundation, on “Making Colorado Springs the Center of the Space Universe”. Those attending the luncheon will receive a day pass to the Space Symposium. To register for the EDC Luncheon, Click Here. For more information on the 22nd Annual National Space Symposium, Click Here.
Nearly 70 El Paso County nonprofit arts organizations will take part in a national study to measure the economic impact of the arts. The study – the first of its kind ever undertaken locally on the arts – will create a benchmark for understanding the impact of arts and culture in the region’s economy. The study will be conducted throughout 2006 and presented in June 2007. More than 100 communities across the United States will participate in the study, conducted by Washington D.C.-based Americans for the Arts, the nation’s leading nonprofit organization for the arts in the United States. The local coordinator is the Bee Vradenburg Foundation, in partnership with the Cultural Office of the Pikes Peak Region. The study will examine revenues of arts organizations and also survey audiences about their expenditures when attending events. Sixteen audience surveys will be conducted throughout 2006 at a range of cultural events. Volunteers are being sought to assist with the audience surveys; to learn more, contact, .
Public College Support Per Student Sinks to 25-year Low - Colorado Doesn't Fare Well in Rankings. Colorado had a 35.9% percent decrease in Public Higher Education Appropriations per FTE (Fiscal 2001-2005) the largest decrease of any state in the nation according to the annual study conducted by the association of State Higher Education Executive Officers (SHEEO). In the reports finding it states that "published projections of state revenues and expenditures suggest that current tax structures are inadequate to sustain existing levels of support for public services. In effect, tax rate reductions enacted during good economic times are making it very difficult for states to finance growing demand for public services in the early years of the 21st century." For more information see the executive overview of the report at www.sheeo.org/finance/shef_sv06.pdf.
Colorado’s 2005 exports set a record, shipping 6.78 billion in manufactured, agricultural and mineral products to international markets exceeding the 2004 record of $6.65 billion. Sales of computer-related and electronic products led the way at 52 percent of total sales. The Mayor’s International luncheon, presented by the Office of International Affairs and the World Affairs Council, will be held May 16 at The Broadmoor. The topic will be China: Opportunities and Challenges for Colorado Springs. For reservations go to www.coloradospringschamber.org.
Leadership Pikes Peak is currently taking registrations for its Experience the Springs Class which will be held April 26 and 27. The class will provide a window into the inner-workings of Colorado Springs and the Pikes Peak Region. E-mail lpp@leadershippikespeak.org for more information.
For questions or comments regarding the Executive Update, please contact Julie Boswell at jboswell@csedc.org