April 2010
EDC NEW PRIMARY JOBS UPDATE: Even in this sluggish economy, EDC has been able to assist in the attraction and expansion of several key projects resulting in 820 new primary jobs for our community since January 1. Everest On-Line University will open an admissions center in April at the Corporate Ridge campus adding up to 600 new jobs over the next 4 years. The center will assist students with admissions, financial aid, career placement, etc. Candidates can apply at www.cci.edu. USAA announced they will expand operations at their Colorado Springs facility to include financial and banking services which will add another 200 jobs locally. Auxsol, Inc., a research and development company, will add 10 new jobs and ARES Corporation will add 10 jobs expanding their aerospace operations locally. These 820 new jobs provide an overall average wage of $42,500 which ranks just above the overall county average.
The Local Industry Team has conducted 100 company visits since October 1, 2009. The majority of companies report that they are stable or growing, and many of them have exciting new products and projects planned in the coming year.
The EDC, UCCS and CAMT (Colorado Association for Manufacturing and Technology) are hosting a manufacturing forum on Friday, April 16. The event will be held at Mind Studios, on the UCCS campus. This free event will help manufacturers learn how to create innovative new products and services, access profitable new markets, and provide sustainable revenue growth. The Pueblo Community College Mobile Learning Lab will be on site for tours. Built inside a 40-foot-long trailer with climate control and fume mitigation systems, the lab holds state-of-the-art welding stations and other hands-on manufacturing training tools. To register for this event, go to www.camt.com (click Events on the menu bar).
Colorado Springs Metro Area Economic Indicators through February 2010 show some good news compared to the same period in 2009. Initial Claims for Unemployment were down 16.4%, Foreclosure Filings down 16.4% and Taxable Retail Sales up 4.7%. Topping the list of good news were Single Family Home Permits (units) up 213.2%. Click here for the full report. (Source: Summit Economics LLC/Economist Dave Bamberger.)
January unemployment rates among our competitive cities are attached showing Colorado Springs at 8.9% compared to the U.S. national average of 9.7%. A Gallup poll measuring underemployment released March 15 shows U.S. underemployment at 20%.
Colorado Springs, while recently garnering some annoying national media attention, is still pulling in top rankings in areas that speak to our business infrastructure and quality of life. Forbes.com ranked Colorado Springs 6th “Most Wired City” for the percentage of Internet users with high-speed connections and the number of companies providing high-speed Internet in that area. A wired community makes working at home, virtual offices and Internet connected team work a reality. Gallup recently ranked Colorado Springs 4th Fittest City calculating average body mass index based on the heights and weights of the respondents provided. The study also recorded information about health habits such as eating, exercise and access to health insurance. Click here for most current rankings.
Colorado Springs ranks near the top of Front Range communities in both the economy and efficiency of the development review process according to the recently released Front Range Comparative Study and Scorecard conducted by the CU College of Business, Everitt Real Estate Center. The total fees charged in Colorado Springs are less than half that of the average of the 23 communities, when the plan review, building permit, and use fees are compiled. Additionally, Colorado Springs ranks as one of the fastest communities for permit approval. The report demonstrates the success of the City's efforts over the past two years to streamline the development process. For more information, contact Dick Anderwald at dAnderwald@springsgov.com.
“Know Your Economy” is published monthly by EDC and sponsored by The Gazette. Click here to see the March edition.
EDC, Pueblo Chamber of Commerce and Pueblo’s Economic Development Corporation recently joined the Southern Colorado Business Partnership, a non-profit which now brings together eleven Chambers of Commerce and the Colorado Springs Convention and Visitors Bureau to work collectively in the pursuit of regional betterment, with a shared voice, mission and focus. For more details go to www.SouthernColoradoBusinessPartnership.com.
Non-stop air service to Washington Dulles Airport begins June 9. Tickets are on sale at www.united.com.
Colorado Springs and the Colorado Springs Diversity Forum was recently honored by the National Black Caucus of Local Elected Officials, a constituency group of the National League of Cities, as one of four cities implementing award-winning programs that enhance and promote cultural diversity. The Colorado Springs City Council has played a leadership role in supporting the multi-cultural “Everybody Welcome” Festival. Click here for more information on the award. Go to www.cospdiversityforum.org for information on CSDF membership, volunteer participation and activities.
Steve Cox has been named Interim City Manager by the Colorado Springs City Council, effective April 16, when City Manager Penny Culbreth-Graft departs. Cox, who began his public service career in 1981, has served as Colorado Springs Fire Chief since October 2008 and as Acting Assistant City Manager in that same year. He is the recipient of significant commendations for valor and distinguished service. Mayor Rivera stated that Cox has the “unanimous support” of City Council.
Thomas N. Duening, Ph.D, El Pomar Chair of Business and Entrepreneurship and Director, Center for Entrepreneurship, College of Business at UCCS, will speak on “Simple Rules for Economic Growth” at EDC’s luncheon April 14, at the Cheyenne Mountain Resort. EDC’s 2009 Leadership Awards will be presented at this event. Click here for more details and to register.
The Colorado Springs Young Professionals (CSYP) is offering local small to large businesses the opportunity to become corporate members, sponsor events/activities and advertise to a membership of 2,000 plus. For six years Colorado Springs Young Professionals has not only kept many young professionals from going to larger cities, but has helped them create their own community by exposing them to activities, causes and people with which a young professional can build a strong future in Colorado Springs. Supporting CSYP helps retain quality, educated, creative talent. Contact CSYP founder, Jon Severson at (719) 387-1277 or visit CSYoungProfessionals.com and send a request through the website.
SAVE THE DATE: The 5th Annual Excellence in Local Industry Awards event will be held on Thursday, October 21 at the Broadmoor Hotel. This event recognizes the important contributions of local companies to our community.