EXECUTIVE UPDATE /June 3, 2005

El Paso County is estimated to experience a population increase of 20,500, and over $500 million in annual direct and induced new payroll, based on planned military changes. 70-75% are expected to live off-base, most within a ten mile radius of Fort Carson, according to The UCCS Southern Colorado Economic Forum.
Single family building permits are anticipated to continue a record setting pace through 2005 reaching 5,500 by year end, according to the UCCS Southern Colorado Economic Forum. 2006 is expected to see another record year with effects of BRAC ’05 and troops from Korea expected to increase the demand for single family housing. (www.coloradosprings.org/Doc/QUE2005.pdf)
The economic impact of Pikes Peak Community College approached $134 million in 2004, according to an economic impact study by Omega & Associates. Factors considered included $43 million in 2004 expenditures and the earning potential of more than 16,000 students.
(Source: The Gazette.)
Colorado BioScience Association (CBSA) has published the first issue of its quarterly newsletter, “The CBSA FOCUS.” Featured articles in the Spring 2005 issue cover the Colorado Technology Survey and Dr. Michael Bristow, noted professor, physician and founder of both the Myogen and ARCA Discovery biotech companies.
Sources: http://www.pr.com/press-release/1482; www.cobioscience.com.
Soaring home costs are leading some firms to make adjustments in work locations. When key workers in a Manhattan firm, for example, hinted they would quit, the firm opened branch offices for them in Denver and Charlotte, N.C. Hardest-hit areas include Southern California, New York City and Washington, D.C.
(Source: The Kiplinger Letter.)
Spending on Internet advertising will grow by a third this year to $13 billion, about 5% of what businesses will spend on radio, TV and print ads. Web ads are popular because companies can target local markets and they are cheaper than other ads, opening doors for smaller businesses.
(Source: The Kiplinger Letter.)
The Fourth Annual Federal Information Security Conference (FISC) will be held June 15 and 16 at the Antlers Hilton Hotel. EDC is a sponsor of this two day event. Topics discussed will include security policies and strategies, technologies and trends, and infrastructure security. Register online or at http://www.fbcinc.com/fisc.
The Colorado College Summer Festival of the Arts is underway. A schedule of events is available at www.ColoradoCollege.edu/SummerPrograms.
“Doing Business with Japan for Colorado Companies” will be the subject of a seminar held by the Japan External Trade Organization, Thursday, June 16, at the Denver World Trade Center. Register online or at www.jascolorado.org.
Supporting those who sacrifice for our freedom: “Home Front Cares” will be holding a benefit for military families, July 10, 4:30 to 9:00 p.m. at The Broadmoor Hotel. Coach Fisher DeBerry will be the keynote with entertainment by Michael Martin Murphy. For more information or to register, go to http://thehomefrontcares.org.