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Colorado - Fri. 12/26/25 |
A Free Business Publication from Alpine Bank
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CONSUMERS POWER STRONGEST U.S. ECONOMIC GROWTH IN TWO YEARS
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Robust spending by U.S. consumers drove greater-than-expected economic expansion in the third quarter, and the strongest growth rate in two years. Gross domestic product, the value of all goods and services produced across the economy, rose at a seasonally and inflation-adjusted 4.3 percent annual rate from July through September, the Commerce Dept. said Tuesday. The report was delayed nearly two months by the government shutdown and looks back at the period before the shutdown was in effect. It does, however, offer a snapshot of an economy that has managed to keep humming along for much of the year. Growth picked up from 3.8 percent in the previous quarter and easily beat the 3.2 percent forecast among economists polled by The Wall Street Journal. It was the strongest expansion since the third quarter of 2023.
Rising consumer spending was partly driven by health care, including outpatient services, and at hospitals and nursing homes. International travel, legal services and spending on products like personal computers and software also contributed. Artificial intelligence-related spending helped, too, though the pace of growth appeared to cool from the second quarter. Overall business investment growth slowed to 2.8 percent in the third quarter from 7.3 percent in the prior three months.
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LOCKHEED MARTIN WINS $1.1 BILLION CONTRACT TO BUILD MISSILE-TRACKING SATELLITES
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Lockheed Martin has secured a $1.1 billion contract from the U.S. Space Force’s Space Development Agency to build 18 missile warning and tracking satellites as part of the agency’s Tracking Layer Tranche 3 program. The satellites, scheduled to launch in 2029, will operate in low Earth orbit and are designed to provide near-continuous global coverage for missile detection, tracking, and defense, including fire control quality data. The award is part of a broader $3.5 billion procurement covering 72 satellites split evenly among four companies: Lockheed Martin, Northrop Grumman, L3Harris, and Rocket Lab USA.
SDA officials said the constellation will improve coverage and accuracy needed to counter advanced threats and reflects the agency’s approach of rapidly integrating new technologies through incremental development. Lockheed Martin Space’s work will be led from its Sunnyvale, California, campus. Northrop Grumman received $764 million for its share of the satellites, with work tied to its Colorado operations. Roughly half of the constellation will support missile defense missions.
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DENVER SUMMIT TO STAY IN CITY AFTER COUNCIL APPROVES $70 MILLION STADIUM DEAL
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Denver City Council approved a $70 million package allowing Denver Summit FC to move forward with plans for a 14,500‑seat women’s soccer stadium at Santa Fe Yards near Interstate 25 and Broadway, keeping the team in Denver’s urban core ahead of the 2028 NWSL season. The vote included rezoning the site and approving an intergovernmental agreement for the city to purchase land and fund infrastructure upgrades. Ten council members voted in favor, while three opposed the deal, citing concerns about public investment and transparency. The city will contribute $50 million toward land acquisition and site work and $20 million for surrounding infrastructure, with Denver Summit responsible for cost overruns. Delays prompted the team to speak with four other cities, though team leaders said their commitment remains in Denver. Supporters said the project could help revitalize the long‑vacant former Gates Rubber Factory site.
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DENVER’S 16TH STREET FREERIDE RIDERSHIP SURGES AFTER FULL-SERVICE RESUMES
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Ridership on Denver’s no-cost 16th Street FreeRide shuttle has surged since full operations resumed Oct. 5, with more than 1.2 million boardings recorded from January through July and totals on pace to surpass 2024 figures. July logged more than 200,000 boardings, the highest monthly total since 2022, while average monthly ridership has climbed to more than 170,000 this year compared with about 125,000 per month in 2024. Those numbers approach pre-pandemic levels, before COVID-19 disruptions cut ridership by more than 60 percent in 2020 and 2021. RTD recorded roughly 252,000 boardings in October on the 1.2-mile route after service resumed between Union Station and Civic Center Station following more than three years of detours tied to reconstruction of the 16th Street pedestrian mall and rail infrastructure.
RTD officials said utilization is nearly double the levels seen during early construction, when boardings fell to about 135,000 in January 2023. The shuttle operates seven days a week using fully electric vehicles and connects downtown shopping, dining, theaters and attractions.
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SAGUACHE CRESCENT SURVIVES BY DOING THINGS THE OLD WAY
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The Saguache Crescent, a weekly newspaper founded in 1881, continues to publish using century-old technology under the stewardship of 73-year-old publisher Dean Coombs, who operates one of the world’s last working linotype machines and a 1915 printing press. Each Tuesday, Coombs produces about 380 copies from his canary-yellow storefront in the town of Saguache, population 550, relying on molten metal type, unpaid contributors, and legal notices to sustain annual revenues of roughly $60,000. The Crescent remains the paper of record in Saguache County at a time when newspapers nationwide are disappearing, with 3,500 closures since 2005 and one in seven Americans now living in news deserts. Coombs’ family has owned the paper since 1917, and he took over after his father’s sudden death in 1978.
While the Crescent lacks resources for investigative reporting, residents and journalism scholars say it provides vital community connection and historical continuity. Coombs, who began working at the press at age 12, says he has no plans to modernize or quit, viewing the paper as an essential civic institution worth preserving.
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ASPEN/PITKIN COUNTY AIRPORT PARKING LOTS CLOSE AS HOLIDAY TRAVEL SURGES
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Parking lots at Aspen/Pitkin County Airport reached capacity and were closed as the holiday travel season began, prompting officials to urge travelers to seek alternative transportation. A PitkinAlert issued Monday morning said the airport’s parking facilities were full and would remain closed until space becomes available. Travelers were encouraged to use airport drop-offs, the Roaring Fork Transportation Authority bus system, or taxis instead of driving. Airport officials also warned passengers to arrive earlier than usual because of increased crowds, longer lines, and extended wait times as the busy winter season gets underway. The airport recently announced the start of its peak travel period, noting that holiday demand typically strains parking and terminal operations. Community members were directed to check the airport’s parking webpage for updates and additional information as conditions change during the high traffic period.
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ASPEN/PITKIN COUNTY AIRPORT TO BEGIN AIR QUALITY STUDY IN JANUARY
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Pitkin County will begin a year-long air quality study at Aspen/Pitkin County Airport in January 2026 to measure the airport’s impact on local air pollution and establish a baseline during periods when aircraft are not operating. The Pitkin County Board of County Commissioners approved an emergency ordinance in mid-December to provide grid power to monitoring buildings around the airfield, ensuring sensitive equipment can operate reliably during cold weather and inconsistent solar conditions. County staff said the study will cost about $1 million and will focus on pollutants with established regulatory standards and health thresholds.
Two reference monitoring units connected to Holy Cross Energy will be placed at the north and south ends of the runway, while nine satellite units powered by solar energy will be installed throughout the community. Officials said measuring air quality during the airport’s annual closure will help isolate aviation impacts from other factors such as highway traffic. County staff plan to provide monthly updates to the Airport Advisory Board, with additional details on specific pollutants to be presented at a joint meeting in January.
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TELLURIDE SKI RESORT TO CLOSE SATURDAY IN RESPONSE TO PATROL STRIKE
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Telluride Ski Resort will close Saturday, Dec. 27, for an indefinite period in response to a strike authorized by the Telluride Professional Ski Patrol Association after months of unsuccessful contract negotiations. The union announced that 99 percent of its members voted in favor of a work stoppage, saying the company continues to push a proposal the group has rejected, even after talks resumed over the weekend. Resort operator Telluride Ski and Golf said it will continue working on a plan to reopen the mountain safely and acknowledged the disruption caused by the closure.
Ticket offices will close Saturday, and refunds will be issued for lift tickets covering impacted days. Advance purchase lift tickets, unused days on multi-day tickets, and ski and snowboard school products will be refunded to the original form of payment, while season pass holders will receive a prorated refund for affected days. The strike follows earlier practice walkouts as negotiations neared a breaking point.
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DURANGO WOMAN WINS MASTER CYCLOCROSS NATIONAL CHAMPIONSHIP
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Durango resident Martha Iverson, 77, won the master women's 75–79 age division at the 2025 USA Cycling Cyclocross National Championships on Dec. 10 in Fayetteville, Arkansas, adding to a cycling career that includes about 20 national titles. Iverson completed the race in 48 minutes, 54 seconds and was the only competitor in her age group, though women over 55 started together. A longtime athlete, Iverson began racing in the early 1970s, later earning national titles in road racing, mountain biking, and time trials, including two world championships. She moved to Durango in 1992 to teach physics at Fort Lewis College and continues to train regularly, incorporating strength training to maintain longevity. Iverson said racing keeps her motivated to stay fit and active, even as many peers slow down, and she hopes to compete more in gravel racing. She credited Durango’s mountain biking culture and favorable conditions for producing strong cyclists across generations.
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MOST COLORADO SKI RESORTS OPEN LESS THAN 25% OF TERRAIN FOR CHRISTMAS HOLIDAY
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Colorado ski resorts entered the Christmas holiday with unusually limited terrain open as low snowpack and unseasonably warm temperatures forced heavy reliance on snowmaking. Major resorts including Steamboat, Aspen Snowmass, Breckenridge, Keystone, Arapahoe Basin, Copper Mountain, Vail and Beaver Creek reported that roughly 10 to 25 percent of their terrain was available, with some operating below 10 percent. Resort officials warned of thin base coverage and variable conditions and urged skiers and snowboarders to stay within their abilities, follow safety guidelines, and remain on open trails as holiday crowds increase. Snowmaking has been concentrated during overnight cold windows, but warm daytime temperatures have limited production. A forecast storm later in the week offered hope for natural snowfall to supplement man-made snow, and resort representatives emphasized that conditions on open terrain remain good despite the challenges.
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HERE ARE FIVE COLORADO LAWS GOING INTO EFFECT JAN. 1
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A new year brings a slate of Colorado laws approved during the 2025 legislative session that will take effect Jan. 1, touching on housing costs, gun safety, wildlife protection, child care affordability and rural health care. Lawmakers said the measures are aimed at increasing transparency for consumers, improving public safety, protecting wildlife, easing financial burdens on families and supporting essential services in rural communities.
- Ban on “junk fees” (House Bill 1090): Requires businesses and landlords to clearly disclose total prices, limits certain landlord fees, and requires restaurants and bars to explain mandatory service charges.
- Restrictions on gun shows (House Bill 1238): Requires security plans, surveillance, and limits attendance by minors unless accompanied by a parent, guardian or qualifying adult.
- Protections for wild bison (Senate Bill 53): Classifies wild bison as both wildlife and livestock, making it illegal to hunt or own them without authorization.
- Refunds on child care fees (Senate Bill 4): Requires child care centers to refund application, deposit or waitlist fees if a child is not enrolled within six months, with limited administrative exceptions.
- Prescription drug reimbursements for rural pharmacies (House Bill 1222): Requires pharmacy benefit managers to reimburse rural independent pharmacies at or above a drug’s national average cost and strengthens audit appeal rights.
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HEALTH INSURANCE SIGN-UPS IN COLORADO RUNNING EVEN WITH LAST YEAR
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Sign-ups for individual health insurance plans for next year are just slightly above what they were at this time last year, despite the loss of significant federal subsidies that could lead to some people paying twice as much or more to buy coverage.
- On Tuesday, the state’s insurance exchange, Connect for Health Colorado, reported that 256,422 people had enrolled in a 2026 plan through the exchange as of Dec. 15.
- That is 371 more people, or 0.14 percent, than the 256,051 who had signed up for a plan by Dec. 15 of last year.
- State regulators had projected that more than 75,000 people could drop coverage as a result of the higher prices. While the numbers released Tuesday may provide some reassurance that won’t happen, Colorado’s insurance commissioner said it’s too early to tell.
- A similar trend is playing out nationally, with enrollments slightly ahead of where they were last year. Colorado also took an extra step to limit coverage losses due to higher prices. During the special legislative session this year, lawmakers approved one-time funding to boost affordability programs, including a state subsidy that brought down premium prices for some.
- The original Affordable Care Act subsidies are available only to people earning below 400 percent of the federal poverty level — which in 2026 will be $62,600 for a single person or $128,600 for a family of four. The enhanced subsidies that are expiring helped people at higher incomes, especially in places like Colorado’s resort communities, where incomes may be higher than average, but health insurance is astronomically expensive.
- About 65 percent of people shopping for insurance through the exchange this year will be eligible for subsidies. (Individuals can also purchase health insurance outside of the exchange, but the exchange is the only place where people can receive financial assistance.) Last year, 80 percent of people shopping through the exchange were eligible for subsidies.
- About 38 percent of people shopping on the exchange this year will be able to find at least one plan with a monthly premium of $10 or less after subsidies. That doesn’t take into account the annual deductibles and other out-of-pocket expenses for the plan, which can stretch above $10,000 in the case of lowest-tier bronze plans. Connect for Health has experts who can help consumers find the right plan at no additional cost.
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MARKET UPDATE - 12/24/2025 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 12/25/2025)
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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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