EXECUTIVE UPDATE / November 8, 2004

Election Impact on the Colorado Springs Economy The passage of the Rural Transportation funding package will pump critically needed funding into the region’s challenged transportation infrastructure as the result of unprecedented collaboration among local governments and the civic sector. Projects to be built include essential improved access to the airport. As control of both houses of the Colorado Legislature unexpectedly goes to the Democratic Party, economic development competitiveness and budget crisis issues take center stage. Progress will be determined by the extent to which divisive partisanship or the public interest prevails when members of the two parties come together in January.
MARKETING UPDATE: Diversified service support centers continue to find Colorado Springs attractive. EDC clients announcing new jobs in 2004 have included CSAA, an insurance claims processing center, CGS, a hardware/software tech support center, and CareCore National, a diagnostic imaging services call center. More are in the pipeline. Quality of life, an available skilled workforce, and availability of vacant rental space in Colorado Springs are very attractive to companies seeking a new location and providing new job opportunities for Colorado Springs citizens. Over 90% of new jobs announced by EDC clients in 2004 will be taken by current citizens of the community.
Corporate consolidation is becoming more common across the United States and impacting local companies. Why own, or lease, two or three facilities, in different locations, when one would work? EDC is currently working with two Colorado Springs companies who will either close their facility here, moving jobs to another location, or close facilities elsewhere, moving jobs here. Retention/attraction combination projects are becoming an increasing focus of EDC activity.
The Job Vacancy Survey for the Pikes Peak Region is now available online. An estimated 3,226 jobs are open for hire, up from 2,414 a year ago. Health Care & Social Assistance and Leisure & Hospitality each offer 22 percent of the vacancies. Trade, Transportation, and Utilities offer 16 percent, and the remaining 40 percent are in all other industries. Go to http://www.coworkforce.com/lmi/WRA/PikesPJVs7.pdf to access the full report.
CDOT (Colorado Department of Transportation) has initiated an environmental assessment of US 24 west from Manitou Springs to I25. US 24, the vital east/west connection for the Pikes Peak region is currently congested and expected to see continued growth in traffic over the next 20 years. For more details, and to provide input, go to www.dot.state.co.us/us24w/
Sixteen percent of the adult population of leisure travelers in the country plan to visit Colorado in 2005, making the state the third most desired destination behind Florida and California, according to Peter Yesawich, Managing Partner, Yesawich, Pepperdine, Brown & Russell, the firm that authors the National Leisure Travel Monitor. (Source: Colorado Office of Economic Development & International Trade.)
The University of Colorado at Colorado Springs is considering new educational programs and some potential organizational changes. Members of the public and potential employers can assist the university by completing a survey at www.vast.uccs.edu/~tboult/COI/survey.html.