Author: Breeanna Jent
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UCCS Economic Forum: Pikes Peak region remains prosperous despite recent slowdown in growth
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The Pikes Peak region remains prosperous, distinguished by high median household incomes and high levels of education attained among its residents — but the area faced a slowdown in growth in 2024 and the first half of this year that stalled home sales, building permits and Colorado Springs sales tax revenues. These and other findings…
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City of Pueblo ending contract with Pueblo Economic Development Corporation
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PUEBLO — The city of Pueblo will terminate its contract for economic development services with the Pueblo Economic Development Corporation (PEDCO) at year’s end. The city has provided PEDCO 90 days’ notice of the contract termination, effective Dec. 31, officials said in a news release Tuesday afternoon. A formal transition is underway to ensure PEDCO…
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As home prices reach historic high in Pikes Peak region, is the American Dream of homeownership out of reach?
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The median sale price of single-family homes in the Pikes Peak region reached a historic high this summer. The hot sales market underscores the area’s exponential growth over the last decade, coupled with a shortage of available and affordable housing units to meet demand, some regional housing industry experts said. Although ballooning sticker prices, growing insurance costs…
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Aerospace and defense firm expanding operations in Colorado Springs, to add 500 jobs
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A veteran-owned aerospace and defense firm headquartered in Colorado Springs is expanding its operations locally, expecting to create around 500 jobs and invest more than $7 million into the community. Company leadership on Thursday afternoon joined Gov. Jared Polis and community and economic leaders in Colorado Springs and El Paso County to announce the expansion of…
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Local home listings hit 11-year high, sales increase despite price record
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The supply of homes for sale in the Colorado Springs area reached a nearly 11-year high in June, and home sales also saw a slight boost in the sixth month of the year — even as area median home prices reached record highs. The increases are possibly attributed, in part, to motivated buyers and sellers, one…
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Sodexo to lay off 152 employees as food service contract ends with Academy D-20
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French food services and facilities management company Sodexo is closing its food service operations at Academy School District 20 and laying off 152 local employees. The international company, headquartered in Paris, notified the state about the layoffs that began “on or about” Monday in a written letter under Colorado’s Worker Adjustment and Retraining Notification (WARN)…
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Colorado grants $5.4M in incentives to aerospace and defense companies eyeing El Paso County
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The Colorado Economic Development Commission on Wednesday authorized about $5.4 million in incentives for two companies considering doing business in El Paso County, including one that expects to create 500 local jobs. Both companies will support state economic goals by creating jobs in the aerospace and defense sector, Mike Landes, the senior manager of business…
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New utilities agreement to bring crucial infrastructure to Peak Innovation Park
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An electric transmission framework that can support up to 600 megawatts of capacity is among new utilities infrastructure planned at Peak Innovation Park, part of an agreement local officials said will support long-term development and sustainable economic growth in Colorado Springs and across the Pikes Peak region. Colorado Springs Utilities and the city on Friday…
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2 measles cases confirmed in El Paso County
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The Colorado Department of Public Health and Environment and El Paso County Public Health have confirmed measles in two unvaccinated El Paso County adults, officials said Sunday evening. The adults are unrelated, but both were at Denver International Airport around the same time on May 14, state and local public health officials said in a…
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Proposed policy change could disqualify marijuana businesses from Colorado Springs chamber membership
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The Colorado Springs Chamber & Economic Development Corp.’s Board of Directors is considering a policy change this month that could prohibit marijuana businesses from joining the organization as members. Chamber spokeswoman Nicole Jomantas confirmed the board will review and vote on a proposed change to the chamber’s bylaws that would “require business activities of members…
