EXECUTIVE UPDATE / September 28, 2004

Fort Carson will be home to 3,700 troops returning from a deployment in Iraq beginning next summer. Their long-term presence depends upon the outcome of the Base Realignment and Closure process (BRAC), to be completed in 2005. The payroll of the additional troops will induce an additional 1,800 jobs in the area, for a total of 5,600 jobs. Total salaries are expected to top $218 million annually, leading to $10 million in new annual sales, income and property taxes at the state and local level. Larger troop deployments from Fort Carson to Iraq this fall will delay the net economic benefit of the new troops until fall of 2005.
Progressive Insurance, one of Colorado Springs’ largest employers, recently announced it intends to construct a 150,000 square foot data center adjacent to its existing 300,000 square foot campus in north Colorado Springs. The data center jobs will induce more than 500 additional jobs in the area over three years. The combined salaries will pump more than $82 million into the Colorado Springs economy across 5 years, with almost $30 million spent on housing, and almost $9 million on vehicle purchases.
The Quality Community Group (EDC, The Chamber, the Housing and Building Association and the Pikes Peak Association of Realtors) has identified ballot issues in the November 2 election that will have a significant impact on the Colorado Springs business environment and quality of life, taking the following positions on each:
- SUPPORT County Issue 1A, Rural Transportation Authority (RTA), responding to community surveys indicating fixing the road system should be the community’s highest priority, voters will have the option to respond by voting on a 1 cent sales tax increase, which would fund maintenance and improvements to local bridges and roadways, and upgrades to the transit system. The results will include reducing current and anticipated traffic congestion, improved east-west mobility and faster emergency response. www.gowith1A.com
- OPPOSE Amendment 34 – Construction Defects. Passage of this Amendment would result in virtually no limits on home-related lawsuits. Everyone remotely involved in a building project or home improvement project would be a potential target. Government may have to assume responsibility for large-scale construction projects if insurance were to become too costly as a result of passage of this measure. www.dontletthemsueyou.com.
- OPPOSE Amendment 36 – Electoral College Allocation. This Amendment would change the current winner take all system to proportional representation. If approved, Colorado’s nine electoral votes would be divided between the candidates in the national election based on the percentage of the vote they receive. National candidates would no longer campaign in Colorado and state concerns would receive less national attention. www.google.com
Study continues on the feasibility of a Downtown Convention Center. The Air Service Task Force of the Springs Into Action strategic planning effort has reported that improved air service (a frequently stated priority for business and leisure travelers alike) will require more inbound visitor air service demand. A successful convention center complex would make a major contribution to increasing such demand. The study now underway to take a second look at feasibility, at the request of the city council, is due out in early November. The U. S. Olympic Committee staff has expressed strong interest in the concept of collocating a new Olympic Headquarters and Hall of Fame as part of the convention center complex.
Business loans are up 14.7 per cent in Colorado for the 12 months that ended in June, the highest growth rate in four years and the seventh-highest growth rate nationwide. As the state economy picks up, demand for bank loans is rising, according to the FDIC. (Source: Rocky Mountain News)
NASA’s technicians are helping small businesses that lack the resources for R&D to find ways to slash production costs and speed up product development. This free service is offered by The Space Alliance Technology Outreach Program, www.spacetechsolutions.com. (Source: The Kiplinger Letter)
Technology leaders from around the state will converge for Celebrate Technology 2004 on October 8 at The Broadmoor. To register for the awards dinner go to www.celebratetechnology.org. Guy Kawasaki, one of the individuals responsible for the success of the Macintosh computer, will be the keynote speaker.
The Rocky Mountain World Trade Center Institute has published the Fall/Winter 2004 Schedule for International Business Education. For more information go to www.wtcdn.com.
Volunteers are needed for Armed Forces and Southern Colorado “Make A Difference Day”, October 22 and 23. www.mindshares.org