EXECUTIVE UPDATE / October 25, 2004

CareCore National, the nation’s leading diagnostic imaging management company, has announced plans to open a new operations center that will generate 100 new jobs for the Pikes Peak Region. Professional opportunities will be available for physicians, nurses, customer service representatives, information technology and human resources personnel. The five-year economic impact of CareCore is expected to include an annual increase of $11 million in local expenditures.
Every vote matters. Voters will decide the future economic competitiveness and quality of life of the community through their decisions at the ballot box. For information, pro and con, on each issue appearing on the election ballot visit qualitycommunity.info.
2005 will be the best year for the Colorado Springs area economy since 2000, according to a report by the Southern Colorado Economic Forum. Assuming there are no significant surprises in coming months, the Forum projects a drop in the unemployment rate to 5.5 percent and increases in non-agricultural employment of 1.3 percent; personal income - 4.8 percent; retail trade - 6 percent; non-residential construction - 37 percent. Its forecast calls for 5,300 building permits. For a copy of the Forum Report, call (719) 262-3241 or 262-3531.
Colorado’s Legislative Council forecasts that the 2005-06 budget will have to be reduced by more than $260 million and another $192 million in FY 2006-07. Most of the cuts will fall on higher education, which has suffered large cuts in each of the two prior years. At the same time, TABOR “surplus” refunds are projected to be $114.1 million in FY 2004-05, $459.2 million in FY2005-06 and $674.6 million in FY 2006-07. Full reports are available at www.state.co.us - Forecast09-04, and www.state.co.us - econ.html.
Colorado College generates $110 million in local sales annually and 1,770 on and off-campus jobs. Students spend almost $7.3 million per year locally. In addition to its economic impact, CC helps to positively build the Colorado Springs brand nationally, brings national speakers and performers for the intellectual stimulation and entertainment of the entire community and attracts bright people who, after graduation, often stay, strengthening and enriching the human fabric of the community.
USAA, one of Colorado Springs’ top twenty primary employers, has again earned recognition as one of the best places to work in the nation. Working Mother magazine named USAA to its “100 Best Companies for Working Mothers” list and LATINA Style magazine named the company to its “Latina Style 50” list of best employers for Hispanic females.
The Pikes Peak Workforce Center is an invaluable asset to community job recruitment and retention efforts. The center supports both employers and job seekers, utilizing business professionals to focus on industry specific needs. For more information go to www.ppwfc.org.
Refer Colorado Springs, cut the tax burden, improve city service levels: The Colorado Springs economy, and local taxpayers, benefit when local citizens are successful in encouraging their associations, business colleagues, friends and families to conduct their meetings here in Colorado Springs. In exchange for the high value experience of enjoying Colorado Springs as a place to meet, visitors provide opportunities for local businesses and leave behind one of every five tax dollars that pay for city services (police and fire protection, road and park maintenance, regulatory controls to keep our city safe, among other budget items). Colorado Springs can earn more, to contribute to quality of life, by hosting more visitors who enjoy positive experiences. The Colorado Springs Convention and Visitors Bureau will provide the first class services needed to ensure that a meeting held in Colorado Springs is productive and enjoyable. Please encourage your acquaintances to meet in Colorado Springs. Refer them to the CVB at (719) 635-7506. See www.coloradosprings-travel.com.
New and expanding companies will be honored by EDC at the annual holiday reception for primary employers that are adding jobs in the community. It will be held Wednesday, December 8, at The Broadmoor. Invitations will be mailed in November. Call (719) 475-6414 for more information.