EXECUTIVE UPDATE /June 17, 2005

PROSPECT ACTIVITY: EDC has hosted four recent site visits from companies interested in locating operations to Colorado Springs representing corporate headquarters, aerospace manufacturing and customer support service operations. These companies alone have the potential for 900 new jobs for the Colorado Springs area. Most of these new jobs, if the decision is made to locate here, would be filled by the local available workforce, with less than ten percent of these jobs being filled by people moving here from the companies represented.
CareCore National, a diagnostic imaging services call center assisted by EDC in 2004, is considering leasing additional space at their current location to accommodate business growth. The company has plans to add additional employees exceeding their original job projections for Colorado Springs by 85 to 135 new jobs. CareCore is extremely pleased with the quality of the local workforce, according to COO Doug Tardio. (Source: EDC/The Gazette)
A $12 million Powers-Briargate extension opened June 17 that includes the one-mile section of Powers Boulevard from Research to Briargate Parkway. La Plata Investments paid for the work as part of the Briargate Annexation Agreement with the City of Colorado Springs. (Source: La Plata Investments)
Governor Owens and other Republican leaders recently identified the specific project areas that will be funded through the Economic Recovery Plan (Referenda C & D). Referenda C & D provide a detailed plan using surplus revenues already collected from existing taxes to help Colorado rebound from the 2001-2004 economic downturn. It is a temporary, five year timeout from TABOR’s limits to allow critical funding for specifically “earmarked” projects like the Cimarron/I-25 Interchange and the State Highway 16/I-25 Interchange at Fort Carson’s Gate 20. It also addresses specific needs in higher education, health care and K-12 education. Referenda C & D have strong local support from a broad citizens coalition that includes the business community, the education community and many others. For more information or to join the coalition, contact Annie Oatman-Gardner (Taxreformaog@aol.com) or Mike Kazmierski (mjkazmierski@csedc.org) or go to www.voteyesonc-d.com.
Colorado leads the nation in entrepreneurship and innovation, according to a study released by the Office of Advocacy of the U.S. Small Business Association and the Edward Lowe Foundation. Four Colorado areas are among the twenty most innovative/entrepreneurial regions in the country with Fort Collins No. 1, Denver No. 6, Colorado Springs No. 17 and Glenwood Springs No. 18. (Source: Colorado Business Review)
Microenterprise, the segment of the economy defined as businesses with fewer than five employees that generally lack access to conventional loans, equity, or other banking services, includes 21 percent of total employment in Colorado. A report has been released by the University of Colorado’s Leeds School of Business that is intended to help produce a better climate for small business. View the report at www.coloradoalliance.org. (Source: Colorado Office of Economic Development and International Trade)
Southern Delivery Dispatch is an electronic bulletin intended to keep interested customers and citizens informed of the progress of Colorado Springs Utilities’ proposed Southern Delivery System water delivery project. Access the bulletin at www.csu.org.
The State Games of America will take place July 28-31 in the Pikes Peak Region and Pueblo. 24 sports will be featured with 9,000 athletes expected representing 49 State Games programs nationwide. For more information go to www.StateGames.org.
The Street Breakfast and 56th Range Ride send off will take place Wednesday, June 22, 6:00 a.m. to 8:30 a.m. downtown at Pikes Peak and Tejon. Fort Carson will serve up pancakes and live western entertainment will be provided. For Rodeo tickets go to www.coloradospringsrodeo.com.
The Colorado Festival of World Theatre will be held July 16-31. Spectacular theatre and cabaret performances will be provided by national and international performers. Workshops and classes are offered in association with this event. For tickets and information go to www.cfwt.org.
For questions or comments on the Executive Update please contact Julie Boswell at jboswell@csedc.org.