August 24, 2007

Academy Bank
American National Bank
Bank of Colorado
Banning Lewis Ranch Management Company, LLC
Beazer Homes Colorado
Benefit Resources
Bethesda Real Estate
BKD, LLP
Brigette Ruskin Ltd.
The Broadmoor
Bryan Construction, Inc.
The Campbell Companies, Ltd.
Central Bancorp
CH2M Hill
CHASE
Classic Companies
Colarelli Construction, Inc.
Colorado Springs Business Journal
Comcast
Corporate Office Properties Trust
CreekStone Homes, Inc.
El Paso Corporation Western Pipelines
Ent Federal Credit Union
ERA Shields Real Estate
The Faricy Boys Chrysler Jeep
First Community Bank
G.E. Johnson Construction Company
Gay & Lesbian Fund for Colorado
The Gazette
Gerald H. Phipps, Inc.
Holland & Hart LLP
Housing & Building Association of Colorado Springs
Infinity Land Development
Intel Corporation
J.E. Dunn Construction
John Laing Homes
Keller Homes, Inc.
La Plata Investments, LLC
The Landhuis Company
Land Title Guarantee Company
MasterBilt Homes, Inc.
Memorial Health Services
Merrick & Company
Mulliken Weiner Karsh Berg & Jolivet, P.C.
New Generation Homes
Nor'wood Development Group
Northgate Properties LLC
Nunn Construction
OfficeScapes
The Patterson Group
Penrose-St. Francis Health Services
Pikes Peak Association of Realtors
The Platinum Group, Realtors
Prime West Companies
Provident Pharmaceuticals, LLC
Pulte Homes Corporation - Colorado Springs
RE/MAX Properties
Rusinak Real Estate, Inc.
S&S Homes, LLC
Sandia, Inc.
The Schuck Corporation
Security Title Guaranty Company
Stockman Kast Ryan + Company, LLP
Sunshine Development
US Bank
Van Gilder Insurance Corporation
Vantage Homes Corporation
Vectra Bank Colorado
Vintage Communities
Wells Fargo Bank

Contact EDC:
jboswell@csedc.org
(719) 471-8183
http://www.coloradosprings.org
Community Link

EDC is currently assisting PRC (Precision Response Corporation) with their expansion plans at Tiffany Square. Last year, PRC announced the creation of 550 jobs at their Colorado Springs state-of-the art customer service center. EDC provided assistance in locating a Colorado Springs facility during a national search for the new location. PRC executives are impressed with the quality of the local workforce. As a result, they are planning to add another 400 positions in the near term with even more jobs planned for the future. PRC, headquartered in Miami, is a top provider of customer management solutions on an outsourced basis.
1,555 new jobs from 12 new and expanded companies have been announced by EDC as of July 31. The average wage for these jobs is $45,624, significantly higher than the Colorado Springs 2006 average per capita income of $34,462. EDC is working with companies representing more than 1,000 jobs that are expected to be announced before the end of the year. During the month of July, EDC received 18 new leads, the highest number since 1999. Year to date, 86 new prospects have been added to the prospect base, showing an accelerated trend compared to the total of 107 prospect leads in 2006.
An update on the El Paso County economy is provided in the July 1 “Southern Colorado Economic Forum - Quarterly Updates and Estimates” published by Fred Crowley, Senior Economist for the University of Colorado at Colorado Springs College of Business and Administration. Click here for the full report.
The State’s economy is projected to maintain sustained growth in 2007 based on midyear data. Employment in all but three sectors has reached levels attained in 2001, and the population and labor force continue to expand. Colorado per capita income exceeded the national average in 2006 by 9% and should surpass $40,000 this year. Recently, the Department of Local Affairs revised upward the 2006 change in population to 93,000, the largest increase in six years. A growth rate of 2% is expected to bring the total population to 5 million in the first quarter of 2008. (Source: University of Colorado at Boulder/Colorado Leeds.)
The City of Colorado Springs recently adopted their 2008 Strategic Plan. This plan is a continuation of the City’s strategic planning process that started in 1997. The 2008 plan is a dramatic departure from many of the prior updates. The City Council completed a comprehensive review of the prior plan and worked to tighten the focus and to address the major strategic issues and challenges confronting the City. Five Strategic Prioritized Goals were identified that include: City Services, Sustainable Growth, Economic Vitality, Quality of Life and Civic Engagement. For more information on the plan, click here.
Colorado Springs Utilities was recently ranked sixth in the nation for overall residential customer satisfaction, according to the J.D. Power and Associates 2007 Electric Utility Residential Customer Satisfaction Study. In the areas of customer service and power quality and reliability, Colorado Springs Utilities ranked second and third nationwide. For more information, click here.
Jerry Forte, Chief Executive Officer of the Colorado Springs Utilities, recently published a letter in The Gazette outlining key points in regard to water planning for Colorado Springs Utilities. Click here for the full transcript.
Colorado Springs Fire Department honored with prestigious recognition. The International Benjamin Franklin Award for Valor was presented to the Colorado Springs Fire Department’s Truck Eight C-shift, for their rescue efforts at the seven-alarm Castle West Apartment fire on January 16, 2007. In the 37 year history of the award, only two other Colorado fire departments have been a recipient. For the full press release, click here.
The University of Colorado at Colorado Springs undergraduate engineering program is among the best in the nation, according to the editors of U.S. News and World Report. In the 2008 college rankings edition, the magazine's editors ranked the program ninth in the nation among public engineering schools offering bachelor's or master's degrees. The magazine's editors ranked all of UCCS tenth among public Western universities. www.usnews.com. The new $12 million state-of-the-art Campus Recreation Center was recently dedicated along with Dwire Hall that has undergone a $10 million renovation. Click here for more information on new developments at UCCS.
Kevin Dwyer, Managing Partner and Vice President for Pacific BioDevelopment, LLC, and a leading consultant in the biotech and pharmaceutical arena, recently addressed the topic of “Building a Biotech Hub in Colorado Springs” at the July EDC luncheon. Click here for a full transcript of his remarks.
Venture capitalists are warming again to fledgling companies for the first time since the dot-com bust. Investment firms leading the hunt for start-ups include Arch Venture, Charles River Ventures, Morgenthaler Ventures, MPM Capital and Split Rock Partners. Venture capital investments in Colorado-based companies reached $284.9 million in this year’s second quarter, the highest since the fourth quarter of 2002. (Sources: The Kiplinger Letter/The Gazette.)
Coast Independent Review Board (IRB) was recently ranked number 236 on the 2007 Inc. Magazine’s 26^th Annual List of 500 Fastest-Growing Private Companies with a three-year sales growth of 987.4%. Coast IRB monitors patient safety during studies of new drugs and medical devices and was located to Colorado Springs with the assistance of EDC.
Local company receives elite certification. DSoft Technology, headquartered in Colorado Springs, was recently awarded Microsoft's "Gold Certified Partner" status in two proficiency areas: Business Process Integration and Data Management Solutions. Gold Certified Partners represent the highest level of competence and expertise with Microsoft technologies, and have the closest working relationship with Microsoft. Please see www.dsoft-tech.com for more information.
Colorado’s Bioscience Community will host a panel of leading industry experts at a seminar, “Building on the Foundation”, August 28, 1:00 to 5:00 p.m. at the Denver Athletic Club. Click here for more details.
The Colorado Festival of World Theatre returns for the 2007 Season, September 20 through 30, providing an exceptional opportunity to enjoy first-class international performers. The festival will honor the most celebrated composer of our time, Stephen Sondheim, at a gala event Saturday, September 22, 2007. Performances will include the world premier of Beautiful Girls, featuring a staged concert tribute to Stephen Sondheim; the groundbreaking U.S. premier of Truth in Translation, the story of the Truth and Reconciliation Commission; A Mountain Celebration that will include performances by Hungary's Etnorom, traditional European gypsy music. The shows will take place at The Pikes Peak Center, Armstrong Hall at Colorado College, Manitou Springs and various venues in Woodland Park.
For questions or comments regarding the Executive Update, please contact Julie Boswell at jboswell@csedc.org.