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Colorado - Tue. 08/18/26 |
A Free Business Publication from Alpine Bank
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GERMAN COMPANY IN COLORADO PROVIDING WILDFIRE DETECTION & TRACKING FROM SPACE
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A German company with its headquarters in Colorado is working to make space-based wildfire detection an effective tool for firefighters in the mountain West. Ororatech, founded in Germany in 2018 by engineer and volunteer firefighter Thomas Gruebler, provides satellite imagery to fire departments during active fire periods in the afternoons. It also combines the data with that from existing sensors to build simulations of fire behavior. The company is working with the Aspen Fire Protection District to monitor Lincoln Creek Valley. The valley’s rugged landscape and dense canopy make detecting wildfires with traditional monitoring tools difficult. The Aspen Fire Protection District has a network of cameras, but they don’t cover everything. Adding Earth observation services from Ororatech helps its firefighters more quickly identify and respond to fires, better protecting Aspen residents and visitors, said Fire Chief Jake Anderson.
Ororatech combines data from 40 satellites and shares it as a single data stream to customers. Ororatech also uses this data to build fire simulations, conduct risk assessments and provide post-fire analysis. Earth observation is a growing business sector and is likely to continue expanding, according to the Colorado Springs-based Space Foundation. In its latest analysis of the global space economy, the group found Earth observation, which includes direct imaging and “downstream products” such as analysis and decision-support services, generated $4.3 billion in commercial revenue.
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CARGILL WORKERS IN FORT MORGAN APPROVE NEW DEAL, ENDING MONTHSLONG LABOR LOCKOUT
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Cargill meatpacking workers in Fort Morgan on Monday voted in favor of the company’s latest proposal, ending a monthslong labor dispute. The vote passed by a 1,113-211 margin, said Chris Suazo, a business agent with Teamsters Local 455, the union representing 1,700 Cargill workers. Neither he nor the company disclosed terms of the agreement. Employees will return around Aug. 24, with harvest restarting sometime during the week of Sept. 7. Earlier this month, union and town officials exhaled after the two sides reached a tentative deal. The workers, however, narrowly voted down that proposal, sending both parties back to the negotiating table.
The plant has been largely dark since April, when Cargill stopped beef production amid contentious contract negotiations with the union. In May, the Minnesota-based company locked out its workers. The lockout threatened to cripple the local economy. Twenty percent of the town’s population works at Cargill, and the company is responsible for 15 percent of Fort Morgan’s annual revenue. The labor dispute forced citywide budget cuts, hiring freezes and the prospect of layoffs.
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ASPEN SUPPORTS MOVING CITY ELECTIONS FROM MARCH TO NOVEMBER
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Aspen City Council unanimously approved a resolution on Aug. 11 that would move the city’s general election from March to November. The city has considered moving the election to November on two prior counts, one in 1971 when it failed to pass and one in 1989 when it initially passed but was later repealed in 1990. Aug. 11 was the first reading of proposed ordinances to amend the city of Aspen Home Rule Charter to move the general city election from March to November of even numbered years, starting with the election of November 2028 to be conducted as a coordinated election with Pitkin County. This ordinance requires a runoff if a candidate or candidates do not receive a specific threshold of votes — the runoff would be conducted by the city in December.
The second ordinance also recommends moving the election to November 2028 but without a runoff. According to a staff report submitted to council prior to their regular meeting, the runoff system has changed the outcome that would have occurred if it were a simple plurality system twice in the 20+ years it’s been applied. Without a runoff, the report adds that it is also possible that a candidate with little support is elected. The second reading will take place by Aug. 25.
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SAVANNAH BANANAS DELIVER ECONOMIC BOOST TO DOWNTOWN DENVER
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When the Savannah Bananas visit Denver, the Mile High City doesn’t just get a sunshine-tinted morale boost; it also receives a noticeable economic surge, according to local business owners and recent data. The Bananas, who visited Denver amid their 2026 Banana Ball World Tour, spent Friday and Saturday going head-to-head with opponents the Indianapolis Clowns for two sold-out games at Coors Field. Thousands of banana-adorned fans filled downtown Denver’s streets — and its restaurants, coffee shops, retail stores and hotels — amid the banana-mania. This isn’t the first year Denver has seen a positive economic boost thanks to the performance baseball team. According to the Downtown Denver Partnership, the Bananas’ first game of two played in Denver in 2025, which fell on Aug. 9, brought in 215,349 downtown visitors, 182,191 of whom were from out of town — downtown Denver’s fourth highest visit day across 2025.
The second Bananas game of 2025, which was played Aug. 10, brought in a closely followed 175,000 downtown visitors with around 140,000 being tourists. McGregor Square also saw positive economic impacts last year, with a spokesperson saying revenue increased 75 percent across the 2025 Bananas weekend compared to the same weekend in 2024. Visitors to the LoDo entertainment district also increased by 65 percent during the 2025 Banana-Rama. Both the games the Savannah Bananas played at Coors Field were sold out, with a ticket war beginning online as long as two months before the game.
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ASPEN'S LUMBERYARD PROJECT RECEIVES $2.89 MILLION IN TAX CREDITS
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The city of Aspen, in partnership with Gorman & Company, has announced that Phase B of the Lumberyard affordable housing development has received $2.89 million in Middle-Income Housing Tax Credits from the Colorado Housing and Finance Authority. The Lumberyard project is the city’s largest affordable housing project, providing 277 deed-restricted rental homes just east of the Aspen Airport Business Center to create additional housing accommodation for Aspen’s local workforce. The project is expected to help local employers attract and retain employees long-term. While construction began in April, the $2.89 million represents a new milestone in the multi-year project.
According to the release, tax credits are an important financing tool that make affordable housing possible. Credits can be sold by the city and its development partner to private investors who receive tax benefits as a tradeoff for investing in the project. Approximately $10.5 million is expected to be provided by those investments and will go toward construction of Buildings 2 and 3 — which is expected to begin in spring 2027 after financial closing.
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U.S. DEPT. OF TRANSPORTATION ANNOUNCES $44M FOR COLORADO RAIL SAFETY PROJECT
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A roughly $5.3 billion U.S. Dept. of Transportation investment in railroad projects announced Aug. 14 includes $44 million dedicated to at-grade crossings in the western half of Colorado. Federal officials said the funds were provided by the National Railroad Partnership Program. In Colorado, they’ll be used to implement rockfall mitigation, install hazmat caches, and perform seven “grade crossing diagnostic analyses” in Hot Sulphur Springs, Dotsero, Parachute, Steamboat Springs, Eldora and Fraser. All of the affected tracks are operated by Union Pacific, and all represent parts of Amtrak’s California Zephyr route. The DOT suggested the move would usher in a “golden age of rail.” The program, a partnership between state and federal transportation departments, has allocated a total of more than $21.7 billion since fiscal year 2022, according to federal records.
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AVON SIGNS PURCHASE CONTRACT WITH STATE LAND BOARD FOR DOWD JUNCTION HOUSING PARCEL
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The town of Avon on Thursday signed a contract to purchase 76 acres of Colorado State Land Board property on both sides of the Eagle River in Dowd Junction for $5,861,293 — a critical step in a long-running saga to building affordable community housing on the land. The property consists of 4.6 acres in Parcel 1 — site of a former Colorado Dept. of Transportation mobile home park — 18.4 acres of Eagle River corridor land, and 53 acres on the north side of the Eagle River. Pending approval of Avon’s Prop 123 Land Banking Grant application for $2.9 million, the local cost for the land board parcel would be $2,961,293, with Avon looking to annex the property and develop community housing in partnership with the county and other towns.
The State Land Board, which is charged with generating funds for public schools, is authorized to do just two direct sales of its property each year and has to post notice of the sale for 60 days before approving the final conveyance. That first-phase housing project will likely consist of at least 100 new residential units. The terms of the sale require all residential development to be deed-restricted community housing. Following required public notice, the proposed direct exchange returns to the land board for final consideration in October.
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NATIONAL REPORT RECOGNIZES ROUTT COUNTY FOR WILDLIFE HABITAT PLANNING
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The National Association of Counties released a report last month on county planning for wildlife habitat connectivity, which featured Routt County as one of only five counties in the U.S. as notable case studies. Routt County Commissioners Sonja Macys and Tim Redmond attended the 2026 National Association of Counties Conference from July 17-20, where the commissioners spoke on a panel about the county’s progress in updating its planning codes and policies, among other strategic initiatives, to reflect wildlife protection. The other four counties featured as case studies are San Diego County, California; Kane County, Utah; Albemarle County, Virginia; and Teton County, Wyoming.
The report notes how Routt County has integrated wildlife protection and connectivity into both its 2022 Master Plan and its 2024 Unified Development Code. Routt County incorporates species activity mapping, which is updated every four years and incorporated into the Unified Development Code. Developer applicants are then required to use these maps to “identify sensitive habitat areas and evaluate potential development impacts.” With increasing development pressures in Routt County, planning staff are exploring additional mechanisms for applicant development guidelines in high-priority wildlife habitats, including establishing “like-for-like offsets,” adopting a simple formula for habitat valuation, adopting study maps to guide land use planning and implementing a compensatory mitigation fund.
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TROUT UNLIMITED BRINGS RECLAMATION & MINING CONFERENCE BACK TO DURANGO
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Diverse professionals, researchers, policymakers and others interested in water quality will gather in Durango on Aug. 30 to Sept. 2 to share perspectives and expertise about mining and its impact. Trout Unlimited is bringing the semiannual Rocky Mountain Mining & Reclamation Conference back to Durango, for the first time since 2016. Trout Unlimited (TU), a national nonprofit focused on healthy rivers and clean water, is the conference’s new host organization, after many years of supporting and participating in the event. Past conferences have been in Leadville, Ouray, Silverton, and other historic mining towns. The last time the conference was in Durango in August 2016 was during the one-year anniversary of the Gold King spill.
This year’s Mining & Reclamation Conference theme is “Rocky Mountain Resilience – Reclaim, Reprocess & Re-imagine Mining." The first evening, Sunday, Aug. 30, provides a meet-and-greet reception with a keynote address by Colorado School of Mines’ Dr. Molly Morgan at The Powerhouse. The conference offers a full day of concurrent technical talks and evening exhibitor happy hour on Monday, Aug. 31. Then, Tuesday, Sept. 1 features field tours to historic mine sites and reclamation areas, and an evening reception and dinner at the Durango & Silverton Narrow Gauge Railroad Museum. The conference finishes on Wednesday, Sept. 2 with a half day of technical talks and closing remarks at Fort Lewis College. More information and registration for the conference are available at the link below.
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KVNF RAFFLES OFF A BRAND-NEW 2026 TOYOTA TACOMA SR5
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KVNF Community Radio is raffling off a brand-new 2026 Toyota Tacoma SR5, valued at $43,749. This annual raffle is one of KVNF's largest fundraisers, helping support community radio programming and operations across Western Colorado. Tickets are $20 each or 3 for $50, with no limit on the number of entries per person. Only 5,499 tickets will be sold. Ticket sales end August 30, 2026, or when all tickets are sold out. The winning ticket will be drawn on Aug. 31, 2026.
Tickets can be purchased:
- Online at kvnf.org
- At the KVNF Studios, 233 Grand Ave., Paonia
- At select summer events throughout the region
KVNF's Summer Raffle is made possible through the generous support of Alpine Bank, Bighorn Toyota, and Big B's Delicious Orchards. Proceeds from the raffle support KVNF's mission to engage our communities through access to diverse music, news, and voices.
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COLORADO WILDFIRE SUPPORT
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Alpine Bank has created funds to support the families of the firefighters and pilot who were tragically impacted by recent local wildfires - the Snyder Fire and the Gold Mountain Fire. Alpine Bank has made the initial donations and invites our local communities to join us in supporting these families. Alpine Bank has a longstanding commitment to supporting the communities it serves, especially in moments of hardship. These firefighters were there for our communities and now it’s our turn to stand beside their families and support them however we can. That’s what neighbors do. The benefit accounts are open for donations now through Aug. 31, 2026, with all funds going directly to the firefighters' families. Information on how to contribute can be found at the link below.
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COLORADO RIVER CRISIS: LAKE MEAD, LAKE POWELL INCH CLOSER TO 'DEAD POOL'
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In the past 10 days, both Lake Mead on the Arizona-Nevada border and Lake Powell roughly 300 miles northeast on the Utah-Arizona line have recorded their lowest water levels since the reservoirs were first filled.
- Lake Mead, the nation’s largest reservoir, which supplies water to Nevada, Arizona and California, measured 1,040.4 feet above sea level on Aug. 7. The level has continued to drop since then. On Monday, the reservoir measured 1,039.83 feet above sea level, nearly 190 feet below full and down about 2 feet over the past 30 days. A year ago, Lake Mead stood at roughly 1,054 feet. Hoover Dam, which created Lake Mead, was built in 1935. The reservoir was last at full in 1983. If the reservoir loses another 4.76 feet, Hoover Dam begins to lose its ability to generate significant hydropower. At 895 feet, it reaches “dead pool” — a complete shutdown of Hoover’s hydropower system.
- Lake Powell, the nation’s second largest reservoir and the water bank for Colorado, New Mexico, Utah and Wyoming, reached its lowest point in history on Sunday at 3,519.8 feet above sea level. A year ago, it stood at 3,551.33 feet above sea level. Glen Canyon Dam, which created the reservoir, was constructed in 1966. The last time Lake Powell was close to full was in 1999. At 3,490 feet, Glen Canyon Dam also begins to lose its ability to generate hydropower. At 3,370 feet, the elevation known as dead pool, hydropower production would stop entirely.
- Both reservoirs are fed by the Colorado River, which has been hit by what some called a thousand-year megadrought that has cut its supply from around 15 million acre-feet per year to 12 million.
J.B. Hamby, chairman of the Colorado River Board of California, told PBS last week that three-quarters of the population of the Colorado River Basin, some 30 million people, are directly affected by risks to Lake Mead. Under the 1922 compact and subsequent agreements, the seven states on the Colorado River still legally count on divvying up 15 million acre-feet of water. In fact, nobody’s getting what the compact promised anymore.
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UNEASY CU ECONOMISTS CUT THEIR NEW JOBS FORECAST BY MORE THAN HALF
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Colorado’s job growth in 2026 is weaker than expected, according to a report from CU’s Leeds School of Business:
- CU economists cut their forecast from 17,000 new jobs this year to 6,000. Weak employment in retail and leisure and hospitality jobs are the main reasons for the slimmed-down expectations, according to Brian Lewandowski, a CU economist.
- Statewide, retail sales are not keeping up with inflation, he said. That tracks with less demand for retail workers.
- Colorado’s job market has been sluggish for more than two years relative to the U.S. Last year, the state lost jobs for the first time since 2010, excluding job losses during the COVID-19 pandemic.
- In June, Colorado’s labor force shrank by 64,900 people from the same time last year. A lot of other states are also seeing a shrinking workforce. But the decline in Colorado was among the steepest in June.
- Colorado has seen a slowdown in people moving from other states, as well as an increase in people leaving the state. Additionally, President Donald Trump’s aggressive push to increase deportations is almost certainly having an impact on the labor force nationwide, although it’s difficult to tease out how large of an impact, according to Lewandowski.
- Lewandowski forecast job growth will pick up in 2027. “I still don’t think it’ll be phenomenal job growth,” he said.
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MARKET UPDATE - 08/17/2026 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 08/13/2026)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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