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Colorado - Tue. 05/26/26 |
A Free Business Publication from Alpine Bank
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COLORADO GAINED JOBS IN APRIL; WORKFORCE PARTICIPATION LOWEST SINCE AUGUST 2020
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Colorado added 11,800 jobs in April even as the state’s unemployment rate remained unchanged. Private sector payroll jobs increased by 12,000 while government jobs decreased by 200. The jobless rate remained at 3.9 percent, below the national rate of 4.3 percent. Last year, the state recorded its first annual job losses since the pandemic, as most industries across the state other than the health sector struggled to gain jobs. Colorado continued to record more job losses in February, but this trend has been reversed in March and April. The month-over-month job gains from February to March were higher than initially reported. Revised data shared Friday showed the state gained 2,800 jobs, then, rather than the 1,400 initially reported.
The largest private industry job gains in April were in professional and business services, education and health services, trade, transportation, and utilities and financial activities, according to Friday’s report. Colorado’s monthslong trend of fewer people participating in the workforce continued in April. The share of Coloradans participating in the labor force in April was 66.1 percent, two-tenths of a percentage point lower than in March and the lowest labor force participation rate since August 2020.
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DENVER TOURISM SAW SLIGHT GAINS IN 2025
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Denver saw a slight bump in tourism last year. More than 37.6 million people visited Denver in 2025, up from 37.1 million in 2024, according to a new report released Friday by Visit Denver. Tourists spent $10.5 billion, beating 2023’s record for the city. Denver’s tourism stagnated after a massive recovery that followed the pandemic led to record years. The number of tourists almost climbed back to 2019 levels in 2021. Then in 2022, the number of tourists grew by 15 percent to set a new record that was later topped in 2023 when tourism surged by 3 percent. As the boom slowed, 2024 was flat in comparison to 2023. Denver continues to succeed in total visitation and overnight visitor spending, which was up 46 percent since before the pandemic. It’s not clear if that trend will continue into 2026, as Colorado was heavily impacted by low snowfall and a drop in ski visits to its famous resorts.
Denver’s four largest tourists draw outside of Colorado were from California, Texas, Illinois and Florida. The city continues to have strong visitation throughout the different seasons of the year, solidifying Denver as a year-round destination. About 22 percent of overnight visits happen in the first quarter of the year, with 27 percent in Q2, 28 percent in Q3 and 24 percent in Q4. The report found more than 82 percent of leisure visitors were from out of state in 2025, up 7 percent from the previous year.
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FEDS RELEASE CRITICAL MONEY FOR MAJOR COLORADO RIVER RIGHTS PURCHASE
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Tens of millions of federal dollars will finally flow to an effort by a coalition of Western Slope governments to purchase some of the largest and most senior water rights on the Colorado River. For more than a year, the U.S. Bureau of Reclamation has withheld $40 million awarded to the Colorado River District for the purchase of the water rights attached to Xcel Energy’s aging Shoshone Power Plant in Glenwood Canyon. The release of the federal funding brings the total amount secured for the purchase to $97 million — just shy of the $99 million needed for the project. For years, the river district — a taxpayer-funded agency based in Glenwood Springs that works to protect Western Slope water — has worked to purchase the rights from the utility. Its leaders want to ensure that, even in dry years, the billions of gallons of water the rights command continue to flow west through the canyon and to the communities, wildlife habitats and farms downstream.
The purchase is a “once-in-a-generation” investment in securing Western Slope water supplies, said Andy Mueller, the general manager of the Colorado River District. The federal dollars will add to the $20 million contributed by the Colorado Water Conservation Board and the $37 million raised by the district from Western Slope governments, organizations and irrigators. “This award is a major breakthrough in our coalition’s effort to permanently secure historic flows on the Colorado River,” he said. Still yet to be funded are nine more projects previously awarded a combined $52 million from the act.
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IRON HORSE BICYCLE CLASSIC BRINGS YEARLY ECONOMIC BOOST TO DURANGO
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The Iron Horse Bicycle Classic comes to Durango over Memorial Day weekend each year and brings with it a hefty economic boost for the city. Hundreds of cyclists from far and wide gather to compete in the event in late May, which challenges participants to bike 48 miles from Durango to Silverton. The influx of visitors means a sizable boost for restaurants, hotels and local businesses during an otherwise quiet tourism month for the city. Durango’s average hotel occupancy usually hovers around 60 percent. Across the 2024 and 2025 Iron Horse races, hotel averages climbed to 85 percent occupancy across the three-day weekend with a peak of roughly 91 percent on Saturdays. The increase puts hotels roughly 25 to 30 percentage points above typical annual occupancy levels, ranking the Iron Horse weekend alongside some of Durango’s busiest summer and holiday tourism periods.
During an average Iron Horse weekend, hotels generate roughly $1.1 million in revenue, according to combined 2024 and 2025 data, with average daily room rates nearing $185 and that number climbing to $195 on average for Friday and Saturday night rates. In 2025, the Iron Horse Bicycle Classic generated an estimated $4.3 million in total business sales, including $2.62 million in direct spending. The race supported an estimated 1,464 jobs overall last year, including 1,220 directly tied to visitor spending and event activity, and local tax collections associated with the event totaled around $212,176.
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HOW FIRE AGENCIES ACROSS SOUTHWEST COLORADO WORK TOGETHER TO GET AHEAD OF WILDFIRE SEASON
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A pronounced wildfire season across the West is swiftly approaching. In La Plata County, fire departments, utility providers, and county, state and federal agencies have been coordinating with one another to prepare. Rob Farino, director of the La Plata County Office of Emergency Management, said his office and the county’s emergency responders are well aware of the challenges faced by the heightened likelihood of fire, brought on by recent low-snow winters and hotter, dryer summers. A multi-agency group, called the Durango Zone Board, meets weekly to assess the appropriate response to wildfire risk. The board follows the Durango Fire Business Calculator, which brings in drought, weather and fuels data, in addition to calculating the values that could be in danger.
Those agencies include federal entities like the Forest Service or Bureau of Land Management, state partners like the Colorado Division of Fire Prevention and Control, local fire protection districts, La Plata County’s government and utility providers like La Plata County Electric Association. Agencies across jurisdictions will coordinate to share resources and personnel to make sure they have what they need to respond in the event of wildfire. Additionally, fire departments throughout La Plata County have fully staffed their wildland fire crews for the summer, and have even brought on crews earlier or hired more personnel ahead of the summer. Additionally, the Durango-La Plata County Air Tanker Base, where firefighting aircraft are stationed, has officially opened for the season.
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COLUMBIAN SHARP-TAIL GROUSE FIND NEW HOME IN GRAND COUNTY
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Large populations of Columbian short-tail grouse used to roam across 22 counties on Colorado’s Western Slope until the mid-1980s when the birds disappeared from all but one corner of the state. This spring, Colorado Parks and Wildlife captured 26 Columbian sharp-tail grouse from Moffat County and released them in Grand County. The effort is a continuation of over 25 years of conservation work from the state wildlife agency to reestablish the species across its native habitat, one of the most successful restorations of the birds in the nation. Columbian sharp-tail grouse were recorded by Lewis and Clark, who saw the birds in the sagebrush and bunchgrass plains of the Columbia River. The birds are marked by a distinct, black V-shaped mark on their breast feathers and a frosty appearance due to white spotting on the body and wing feathers. They also have orange eye combs, and the males have a spot of bright purple on their necks to attract mates.
The Columbian sharp-tail grouse belongs to a group of ground-feeding, chickenlike birds under the name Galliformes, which includes turkeys, pheasant, partridge, grouse and ptarmigans. Columbian sharp-tail grouse were once considered the most abundant bird of this family in the intermountain region. Today, the species occupies less than 10 percent of its former range because of loss and degradation of habitats, conversion of native rangelands to croplands, excessive grazing by livestock, herbicide treatments, fire suppression, invasion of non-native plants, removal of trees and shrubs in riparian areas, invasion of conifers, and urban development. The species survival in this pocket of Colorado makes it home to one of three existing populations in the West. The other two exist in southeastern Idaho into northern Utah and in British Columbia. There are more than 10,000 Columbian sharp-tail grouse on the Western Slope.
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YAMPA RIVER FESTIVAL RETURNS FOR 46TH YEAR AMID LOW FLOWS
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Friends of the Yampa will host the 46th annual Yampa River Festival from May 28-31, with a mix of on-water competitions, community events and educational programming centered on the health of the river. Organizers said low river flows have already impacted this year’s lineup. The Adam Mayo Memorial Fish Creek Kayak Race, originally scheduled for Friday, May 29, has been canceled. A Hala Lima Tapping Party at Mountain Tap Brewery will still take place Friday beginning at 4 p.m. Saturday’s main events will shift to Rich Weiss Park rather than Fetcher Park due to low flows. Because parking is unavailable at the site, participants can take a free shuttle operated by Bustang from the Stockbridge Transit Center. Races will include stand-up paddleboarding, kayaking, rafting and fly-fishing.
Festival activities will run from 10 a.m. to 6 p.m. Saturday, with vendors, food trucks and beer from Storm Peak Brewing Co. set up between the Bud Werner Memorial Library parking lot and Little Toots Park. The Freshwater Family Zone will also return. The annual State of the Yampa address, set for 6 p.m. Thursday at Bud Werner Memorial Library, will open the festival. Sunday includes a 10 a.m. kayak slalom race. Organizers are also seeking volunteers for May 30-31. More information about the festival is available at FriendsoftheYampa.com. To sign up as a volunteer, visit tinyurl.com/4ae4fh8x.
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GOPRO MOUNTAIN GAMES PREPARES FOR KICK OFF, INCLUDING NEW EVENT
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The Vail Valley Foundation unveiled Friday a brand-new course for the adidas TERREX 20K Trail Run at the 2026 GoPro Mountain Games June 4-7, sending runners all the way to Mid-Vail for the first time in the event’s history. The 20K on June 7 leaves behind its traditional two-lap format in favor of a single loop that climbs higher up Vail Mountain than the race has ever gone before, gaining 2,500 feet of elevation and topping out at nearly 9,900 feet. The course still starts and finishes in Nature Valley Mountain Plaza in the heart of Vail Village, but the new design rewards runners with a true summit experience and views that set it apart from nearly any other 20K in the country. The complete 20K course will be unveiled in the coming days at mountaingames.com and in the Mountain Games app.
- The 20K is one of several running events getting a refresh at the 2026 GoPro Mountain Games. The adidas TERREX Sunday Funday 5K debuts a brand-new course of its own, and the adidas TERREX 10K Spring Runoff features an improved race format. With each Sunday running race now on its own route, runners will have more room to find their rhythm and race their best.
- The Nature Valley Mountain Mud Run is getting a refresh of its own with the all-new Mega Mud Pit: a single, longer pit that replaces the two mud pits of years past for one bigger, muddier challenge. As part of the Mountain Games’ Protect Our Playground commitment to conserving water, the post-race rinse zone has also been replaced this year with a cleanup station stocked with rinse-free body wipes from Rugged Revive and towels.
- New for 2026, the Kids Mini Dash brings young runners ages 6 to 12 into the fun with both a long course (approximately 2K) and a short course (approximately 1K). It joins a running lineup that spans every age and ability, including the BFGoodrich Rocky Dog Fun Run, the adidas TERREX Après 5K, and adidas TERREX Pepi’s Face-Off. In all, the 2026 GoPro Mountain Games will host eight running events across the four-day festival.
Registration for all 2026 GoPro Mountain Games competitions, including the running events, is open at mountaingames.com. Prices increase on May 27, so athletes are encouraged to register now for the best available rate. Athletes receive exclusive perks, including an athlete bag packed with swag, discounts to Mountains of Music concerts, access to the STōK Cold Brew Athlete Lounge, and more. Spectating remains free and open to all. Athletes already registered for the 20K who would like to adjust their plans given the increased climb can reach out to registration@vvf.org. For the full event schedule, racecourses and more, visit mountaingames.com or download the Mountain Games app.
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BRECK SUMMER BOOKINGS LAG PEERS AS LODGING INDUSTRY BRACES FOR COMPETITIVE SEASON
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As summer booking season begins to take shape, Breckenridge is among only a handful of mountain resort communities not currently outperforming last year’s pace — a signal tourism officials say points to a more competitive and uncertain season ahead. Presenting lodging performance data to Breckenridge Town Council at a meeting Tuesday. The town’s summer outlook remains difficult to fully gauge because reservations typically come later than in competing resort destinations. Nevertheless, early indicators show reason for caution. As of May 3, Breckenridge had secured about 33 percent of its historic summer guest nights on the books. Current summer bookings are down 2.4 percent year over year, making Breckenridge one of the few destinations in its competitive set not currently exceeding last year’s booking pace. By April, guest nights had fallen 38 percent year over year.
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HERE’S WHERE PRICES ARE RISING THE MOST
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U.S. consumers will shell out more for everything from fuel to hot dogs and hamburgers heading into Memorial Day weekend as the Iran War reignites inflation. Total inflation for shoppers rose 3.8 percent in April from the same month a year ago, the highest annual rate since 2023. Prices for travel, recreation and food saw especially sharp increases, draining Americans’ wallets as they ring in the unofficial start of summer. Consumer sentiment officially came in at its lowest level on record in May. The outlook was battered in part by spiking oil prices amid the Middle East war, which is almost three months old.
Here’s some of the areas where Americans will pay more over the holiday weekend:
Food:
- Summer barbecues will be more costly this year as cattle herds shrink and fertilizer costs jump. Ground beef and steaks are up as much as 16 percent compared with 2025. Frankfurters cost nearly 11 percent more than a year ago.
- Tomatoes run shoppers close to 40 percent more, while lettuce is up about 8 percent over the same period.
- Toppings such as spices, seasonings, condiments and sauces have climbed almost 4 percent.
- Shoppers picking up desserts like cakes, cupcakes or cookies will pay just over 5 percent extra compared with a year ago.
- Carbonated drinks are 3.7 percent more expensive than last year, while coffee prices have soared more than 18 percent. Prices for beer — which have seen a recent demand slowdown — rose 2.2 percent.
Travel
- A record number of travelers are expected to leave home this weekend but will face rising transportation costs after the war drove up oil prices.
- AAA anticipates 45 million Americans will travel at least 50 miles from home over the holiday period, up 0.4 percent from the peak set last year. More than 39 million will travel by car.
- Gasoline prices soared more than 28 percent year over year, federal data shows. Heading into the weekend, the average price for a gallon of unleaded gas nationally was its highest in four years, according to AAA.
- Airline fares surged 20.7 percent from April 2025 to 2026, reaching their highest level since 2022. Carriers said they would need to hike ticket prices with jet fuel costs surging in the wake of Iran’s closure of the Strait of Hormuz, a key passageway for global crude. Spirit Airlines cited costlier jet fuel when shuttering operations earlier this month. Industry analysts said ticket prices could rise further without the budget airline in the market.
- Hotels and motels and other forms of lodging away from home will cost consumers 4.3 percent more than 12 months earlier. About 30 percent of respondents in a Bank of America survey said they wouldn’t change their summer travel plans in light of higher gas prices. But around one in five said they planned to curb vacations or choose destinations closer to home.
Recreation
- Americans opting for a staycation will also feel inflationary pressures on summer pastimes. Movie, theater or concert tickets jumped 5.5 percent from a year ago. Unusually, sporting event tickets have dropped 10 percent in the same timeframe.
- Price tags on bikes and other sporting vehicles are 4.3 percent higher than a year ago.
- People looking to get a little gardening done will find supplies such as tools and hardware up 5 percent. Indoor plants or flowers are up 6 percent in the past year.
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MARKET UPDATE - 05/22/2026 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 05/21/2026)
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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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