{"id":901315,"date":"2026-10-31T18:12:35","date_gmt":"2026-10-31T18:12:35","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/901315\/"},"modified":"2026-10-31T18:12:35","modified_gmt":"2026-10-31T18:12:35","slug":"pikes-peak-economy-heads-up-after-some-challenging-years","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/901315\/","title":{"rendered":"Pikes Peak economy heads up after some challenging years"},"content":{"rendered":"

\"\"<\/a><\/p>\n

\"AA statue of William Jackson Palmer, Civil War general, railroad tycoon and founder of Colorado Springs., stands in the intersection of Nevada and Platte avenues in downtown.(AP Photo\/David Zalubowski)<\/p>\n

\"\"<\/a><\/p>\n

Quick links: Pikes Peak economic stats<\/a> | Gas prices and inflation<\/a> | Inflation poll results<\/a> | Amazon\u2019s needs 6,500 seasonal workers in Colorado<\/a> | State recovers $15.8M from insurers<\/a> | Big Pikes Peak job fair<\/a><\/p>\n

The way Mayor Yemi Mobolade made it sound, Colorado Springs\u2019 economy is booming \u2014 or at least it\u2019s doing better than the rest of the state.<\/p>\n

\u201cPeople are choosing Colorado Springs. While several major Colorado cities lost population, Colorado Springs continues to attract new residents,\u201d said Mobolade, kicking off the 30th annual UCCS Economic Forum on Thursday. \u201cAbout six new residents a day.\u201d<\/p>\n

He ticked off a number of recent economic coups, including Swire Coca-Cola investing $475 million<\/a> to build a plant south of the airport and Weidner Apartment Homes investing millions to develop 1,200 new apartment units<\/a> downtown. The city was recently named the best city<\/a> in the U.S. for small businesses by the online business bank Bluevine (Denver was second). And last year, visitors to the Pikes Peak region spent a record $3.1 billion.<\/p>\n

\"AColorado\u2019s population has grown faster than the nation for several decades, with El Paso County growing even faster. Growth has slowed for both but that\u2019s expected to pick up again for the Pikes Peak region, which is expected to add 76,000 people in the next decade, according to the State Demography Office.<\/p>\n

But Mobolade, who operated a small business in town before becoming mayor in 2023, clarified one thing: This isn\u2019t a victory lap. \u201cThese are evidence that we are moving in the right direction,\u201d he said, \u201cand a reminder of what\u2019s possible when a community takes responsibility for its future.\u201d<\/p>\n

The annual event this week seemed to be playing defense, after a few post-pandemic years of seeing a decline in residential building permits, fewer home sales and slowing workforce growth. It\u2019s like there was something larger blocking its path as a panel of area economic-development officials discussed some wins and challenges.<\/p>\n

\u201cWe\u2019re the sixth most regulated state in the country,\u201d Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber & EDC, citing a statistic<\/a> from the Colorado Chamber of Commerce\u2019s regulatory report<\/a>.<\/p>\n

\"\"Johnna Reeder Kleymeyer<\/p>\n

Reeder Kleymeyer served on Gov. Jared Polis\u2019 Competitiveness Council, which wrapped up a report this month about how Colorado has lost its competitive edge. Overlapping state, federal and local regulations are confusing and discouraging prospective companies.<\/p>\n

The rules are \u201call well intentioned I\u2019m sure. But if a business has choices,\u201d she said, \u201cthey don\u2019t have to be here.\u201d<\/p>\n

Crystal LaTier, executive director of Economic and Workforce Development for El Paso County, said regulations also impact small businesses more than larger ones.<\/p>\n

\u201cWe want to ensure that our small businesses are also thriving,\u201d LaTier said. \u201cWith these compliance responsibilities, that often falls to each owner or a small team doing a lot of work related to operations. Keeping small business operations in mind as we look at regulations, I think is crucially important as well.\u201d<\/p>\n

\"\"At the 2026 UCCS Economic Forum on Oct. 28, a panel of local economic development executives discussed the challenges of attracting business to the area. Panelists, from left to right, were Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber & EDC; Crystal LaTier, executive director of Economic and Workforce Development for El Paso County; Shawna Lippert, economic development manager for the city of Colorado Springs; and Wade Broadhead, Community Planning & Economic Development Manager, City of Fountain. (Tamara Chuang, The Colorado Sun)<\/p>\n

The perception that something isn\u2019t working and there are risks and barriers, however, needs to be addressed, said Shawna Lippert, economic development manager for the city of Colorado Springs.<\/p>\n

\u201cWhat is our reputation in the community? What is our reputation of what kinds of things go out in the media? And what\u2019s the risk if we don\u2019t tackle some of these challenges,\u201d she said. The answer, she said, is that the region will lose talent because, \u201ctalent can live anywhere.\u201d<\/p>\n

The city has an employee dedicated to helping small businesses demystify the processes. City officials also set up a Rapid Response program<\/a> for key employers and developers. It\u2019s like a concierge who helps \u201cexpedite and prioritize certain projects. Not that we\u2019re cutting any steps, but people can move to the top of the queue,\u201d Lippert said.<\/p>\n

Pikes Peak economy <\/p>\n

The Pikes Peak region\u2019s $55.1 billion economy is larger than that of two states, Vermont and Wyoming, said economist Bill Craighead, UCCS Economic Forum\u2019s program director. The region, which includes El Paso and Teller counties, has a ways to go to catch up to Alaska.<\/p>\n

\u201cBut I bet we can do it,\u201d Craighead said, during his economic update where he presented the 2026 economic report<\/a>. \u201cOur median household income is more than 10% higher than the national median and that is tied to a high level of (government) agencies in our population and veterans.\u201d<\/p>\n

\"AThe Pikes Peak region is well above the nation\u2019s median household income and the local GDP is larger than Vermont and Wyoming, according to an analysis by the UCCS Economic Forum. <\/p>\n

Craighead said he saw a lot of data pointing to a reversal of post-pandemic trends showing economic decline.<\/p>\n

Federal civilian employment in the Pikes Peak region is down by 1,400 jobs since January 2025, according to the UCCS report. But while job growth has slowed, much like the rest of the state, the state added 367 workers a month in the first half of the year, compared with a loss of 308 a month last year.<\/p>\n

Population growth has also slowed, but the region is projected to add 76,000 people in the next decade, according to data from the State Demography Office.<\/p>\n

After a few down years following the pandemic, residential building permits were up in the region last year, though Craighead attributed it to an end-of-the-year surge in a large number of apartment permits that probably won\u2019t happen this year. City sales and use tax collections are up 6.4% year to date from a year ago, when inflation flattened out gains from the pandemic shopping boom.<\/p>\n

\"ASales and use tax collection in Colorado Springs flattened after the pandemic. But so far in 2026, the city of Colorado Springs has seen a 6.4% increase in tax collections, likely due to an increase in building materials and consumer spending, according to the UCCS Economic Forum 2026 update.<\/p>\n

\u201cMost of the activity measures that I track have been looking better,\u201d Craighead said.<\/p>\n

Pikes Peak benefits from being part of the larger state economy. Colorado had the 17th-largest GDP or $574.9 billion last year. On a per capita basis, the state ranked 11th.<\/p>\n

\u201cWe are productive,\u201d Craighead said. \u201cAs of 2024, we have the eighth-highest median household income. We are the highest for a state that doesn\u2019t touch an ocean.\u201d<\/p>\n

Up and down the Front Range, the median income in every metro community is above the national average, except for Pueblo.<\/p>\n

\u201cWe are much better off by being part of this $500 billion Front Range economy than as a midsized city on our own, and there\u2019s already a considerable extent of economic integration along the Front Range,\u201d Craighead said. \u201cThere are more than 60,000 people living here and working in metro Denver. And more than 37,000 people live in metro Denver with job locations here in the Pikes Peak region.\u201d<\/p>\n

Colorado gas prices average $4.40 a gallon. Then there\u2019s diesel. <\/p>\n

While most consumers with gas-guzzling vehicles have seen regular unleaded gas shoot up nearly 50% from a year ago, truck drivers and others who fuel up on diesel in Colorado are paying much more, with average diesel prices at $6.48 a gallon on Friday, up $2.87 or 80% from a year ago, according to AAA gas data<\/a>.<\/p>\n

That\u2019s much higher than the local inflation rate of 29% for gas, according to the latest consumer price index for the Denver area. CPI is a good gauge but it leaves out diesel, said Skyler McKinley, AAA\u2019s regional spokesperson.<\/p>\n

\"\"A sign displays the per-gallon prices for regular unleaded and diesel fuel at a Conoco gasoline station on Wednesday, Oct. 28, 2026, in Buena Vista. (Cheney Orr, The Colorado Sun via Report for America)<\/p>\n

\u201cAcross Colorado, AAA\u2019s data shows regular (gas) up 35% from last September and diesel up 66%. Overall prices in the Denver area rose 4% over that stretch, so we\u2019re paying far more for fuel than just about anything else. Diesel\u2019s still climbing. Last week it was 93% higher than the same week a year ago,\u201d McKinley said in an email.<\/p>\n

He added that electric vehicle drivers may not be noticing the increase since they don\u2019t have to fuel up. But they should think about diesel\u2019s cost to better understand their family budgets.<\/p>\n

\u201cDiesel moves freight and runs the equipment on farms and construction sites, so when it gets more expensive, nearly everything else costs more, too. Even if you never buy a gallon of fuel, you\u2019re paying for diesel every time you check out at the grocery store,\u201d he said. >> See AAA gas prices<\/a><\/p>\n

Poll results: Lots of EV drivers <\/p>\n

While many of us are watching the fuel gauge closely these days, a surprising number of What\u2019s Working readers who took last week\u2019s poll<\/a> don\u2019t seem to be \u2014 44% are electric vehicle drivers.<\/p>\n

Still, more than a handful are still concerned about higher prices overall. \u201cWe had to replace a car and went with an EV due to high gas prices,\u201d one person said.<\/p>\n

Wheat Ridge resident Lee Recca, who drives less these days, shared that the cost of pet care and the vet for their cat has increased so much, \u201cI am having to sacrifice some of my own needs in order to keep providing for my cat.\u201d<\/p>\n

Lots of folks have cut way back on red meat. And eating out. One self-described \u201cunmarried tech worker\u201d said they make a good income but decided to boycott restaurant-delivery apps in October because prices were getting so much higher. And instead of a monthly meetup with friends to try a new restaurant, \u201cWe all prepared meals at home and ate together at someone\u2019s home.\u201d<\/p>\n

But likely, for most of us, we\u2019re probably like Rick Ottman in Montrose, who said, \u201cI\u2019m retired and aware of increased food prices and the cost of gas. Not everyone can purchase an electric vehicle.\u201d<\/p>\n

Thank you, everyone who took the survey and shared a comment. If you missed the earlier story about inflation, here it is:<\/p>\n

\u2794 Why Denver\u2019s 4% inflation may feel much higher. The cost of a new or used car, gas, meat, vegetables and alcoholic beverages are counted in the inflation rate, whether you buy them or not. >> Read story<\/a><\/p>\n

Sun economy stories you may have missed<\/p>\n

\u2794 Pipeline to share water between Parker, Castle Rock and northeastern Colorado farms OK\u2019d in water court. The $1.1 billion Platte Valley Water Partnership project calls for a new reservoir and a 125-mile pipeline to Douglas County cities from near Sterling >> Read story<\/a><\/p>\n

\u2794 Arapahoe Basin snags first-to-open distinction, kicking off Colorado ski season. A friendly rivalry among Arapahoe Basin, Loveland and Keystone keeps skiers and snowboarders on their toes, waiting to hear that the first lifts in the state are spinning >> Read story<\/a><\/p>\n

\u2794 Judge rules Ridgway hotel can\u2019t house workers building Telluride\u2019s Four Seasons resort. The developer of the $1 billion Four Seasons project in Mountain Village has acquired and leased area hotels far from the resort. Local groups are pushing back. >> Read story<\/a><\/p>\n

\u2794 Answers to your questions about Amendment 87, Colorado\u2019s graduated income tax ballot measure. We answered readers\u2019 top questions >> Read story<\/a><\/p>\n

\u2794 Denver Water wants to hire lawn patrol staff to enforce restrictions next summer. Colorado\u2019s largest water utility will vote today on a dedicated drought patrol staff, expecting watering limits for much of 2027 >> Read story<\/a><\/p>\n

\"\"<\/a><\/p>\n

\u2794 Last-minute Election 2026 coverage right HERE<\/a><\/p>\n

Other working bits<\/p>\n

\"\"An Amazon employee works through bins filled with packages at her work station at the Thornton facility in 2018. (Kathryn Scott, Special to The Colorado Sun)<\/p>\n

\u2794 Amazon has 1,640 seasonal job openings in Colorado Springs. For the entire state, the company\u2019s trying to fill 6,500 positions that include full-time, part-time and seasonal gigs. That\u2019s just 2% of 300,000 openings nationwide. Seasonal workers who stay on in the new year will be eligible for healthcare coverage even if the new employee is a seasonal hire (full-time hires can opt for coverage on day one). Minimum pay starts at $20 an hour.<\/p>\n

Colorado Springs dominates hiring this season, with 1,640 openings, according to an Amazon spokesperson. The company has opened a number of new warehouses and sorting centers around the state, from Grand Junction and Montrose to at least two in Colorado Springs in the last three years. Jobs are also being added through November.<\/p>\n

Statewide, Amazon employs about 20,000 people and has 11 fulfillment and sortation centers, one pharmacy, 13 delivery stations and 23 Whole Foods Market locations. >> Check out the openings at amazon.com\/localjobs<\/a><\/p>\n

\u2794 Colorado recovers $15.8 million from insurers\u2019 mistakes and wrongly denied claims. In a new report<\/a> from the state\u2019s Division of Insurance, the agency said it recovered $15,803,329 from insurance companies after following through on customer complaints. About $9.9 million were from complaints about homeowners or auto insurance, while $5.5 million dealt with health or life insurance.<\/p>\n

In a news release, Colorado Insurance Commissioner Michael Conway said issues involved communication errors, missed insurer payments and wrongly denied claims. The division\u2019s consumer service team fielded 17,283 calls from consumers last year and helped many people submit formal complaints.<\/p>\n

Have an insurance question or complaint? Call 303-894-7490, email DORA_Insurance@state.co.us<\/a> or visit doi.colorado.gov<\/a> and click on \u201cFile a Complaint.\u201d >> View report<\/a><\/p>\n

\u2794 Pikes Peak\u2019s largest job fair of the year is Nov. 10. The Community & Veterans Job Fair is aimed at those transitioning out of military service but it\u2019s open to anyone looking for a new career opportunity.<\/p>\n

\u201cWe have job fairs every month but this one is pretty important and special for us (and) will be our largest job fair of the year,\u201d said Crystal LaTier, executive director of Economic & Workforce Development for El Paso County, during Thursday\u2019s UCCS Economic Forum. \u201cWe\u2019re expecting 150 employers.\u201d<\/p>\n

Hosted by the local Workforce Center, the event runs from 10 a.m. to 2 p.m. on Nov. 10 at the Colorado Springs Event Center (3960 Palmer Park Blvd.). >> Register<\/a><\/p>\n

Got some economic news or business bits Coloradans should know? Tell us: cosun.co\/heyww<\/a><\/p>\n

Thanks for sticking with me for this week\u2019s report. Don\u2019t get too spooked this weekend! ~ tamara<\/a><\/p>\n

Miss a column? Catch up:<\/p>\n

What\u2019s Working<\/a> is a Colorado Sun column about surviving in today\u2019s economy. Email tamara@coloradosun.com<\/a> with stories, tips or questions. Read the archive<\/a>, ask a question at cosun.co\/heyww<\/a> and don\u2019t miss the next one by signing up at coloradosun.com\/getww<\/a>. <\/p>\n

Support this free newsletter and become a Colorado Sun member: coloradosun.com\/join<\/a><\/p>\n

Corrections & Clarifications<\/p>\n

Notice something wrong? The Colorado Sun has an ethical responsibility to fix all factual errors<\/a>. Request a correction by emailing corrections@coloradosun.com<\/a>.<\/p>\n

Type of Story: News<\/p>\n

Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources.<\/p>\n","protected":false},"excerpt":{"rendered":"A statue of William Jackson Palmer, Civil War general, railroad tycoon and founder of Colorado Springs., stands in…\n","protected":false},"author":2,"featured_media":901316,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,132953,25436,63158,101,25437,38113,23742,19845],"class_list":["post-901315","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-colorado-economy","tag-colorado-springs","tag-economic-development","tag-economy","tag-el-paso-county","tag-pikes-peak","tag-sales-tax","tag-whats-working"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/901315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=901315"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/901315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/901316"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=901315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=901315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=901315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}