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Colorado - Tue. 02/03/26 |
A Free Business Publication from Alpine Bank
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COLORADANS CARRY HEAVY DEBT LOADS - IT ISN’T FINANCIALLY HEALTHY
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Colorado residents carry the highest per person debt burden in the nation, surpassing even California and Hawaii, driven largely by soaring housing costs and rising living expenses. Per capita debt reached $90,760 in 2023, about $33,000 above the national average, according to a study analyzing Federal Reserve data. Since 2013, Coloradans added more new debt than residents of any other state, with a 51.6 percent increase over the decade. While high incomes, strong credit scores, and education levels help residents manage borrowing, experts warn excessive debt threatens long-term wealth, retirement readiness, and economic stability.
Mortgages account for roughly three-quarters of household debt, reflecting rapid home price appreciation that has far outpaced income growth. Auto loans, student debt, and credit cards add further strain, particularly for younger households. Financial advisers caution that heavy debt loads leave families vulnerable to economic shocks and limit future growth, urging consumers to distinguish between productive borrowing and high interest obligations that can quickly spiral out of control.
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BIG SNOW COULD BRING DOUBLE-DIGIT TOTALS TO COLORADO PEAKS IN UPCOMING DAYS
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Colorado is expected to see only light snowfall through the end of the week, but longer-range forecasts suggest a shift toward heavier precipitation in mid-February, particularly in the high country. The National Weather Service projects just 1 to 3 inches of snow in parts of northern Colorado through Thursday, with little accumulation expected at ski areas in the coming days. Forecast models from Pivotal Weather, however, indicate that a stronger storm pattern could develop between Feb. 10 and Feb. 13, potentially delivering 8 to 22 inches of snow to mountain peaks north of Durango and around Aspen, while Denver could see about 3 inches and Colorado Springs around 4.
Additional snowfall of 4 to 6 inches on many peaks is possible between Feb. 13 and Feb. 17. The outlook comes as Colorado’s statewide snowpack sits at about 56 percent of normal for early February, the lowest level on record dating back to 1987, though forecasters note there is still time for conditions to improve before the typical peak in early April.
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DENVER’S NEWEST PRO SPORTS STADIUM IS BEING SHIPPED FROM CHINA
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Denver Summit FC’s temporary stadium in Centennial, built overseas and now being shipped from China, is expected to be ready by July as the National Women’s Soccer League’s 16th team prepares to begin play. Team owner Rob Cohen said the modular stadium, which will seat up to 12,500 fans, is already partially stored in Colorado, in transit by truck, and awaiting delivery at the Port of Los Angeles, with tariffs adding unexpected costs. The temporary venue will sit next to the CommonSpirit Performance Center, where a training facility initially sized at 30,000 to 35,000 square feet is planned to expand in phases to as much as 75,000 square feet.
After two years, the team will move to a permanent, all-electric women’s stadium at Santa Fe Yards in Denver, and the Centennial site will transition to school district and academy use. Fan demand has been strong, with more than 15,000 season ticket deposits sold and nearly 40,000 tickets purchased for the team’s inaugural March 28 match at Empower Field.
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COLORADO STAPLE APPLEJACK WINE & SPIRITS SELLS TO FLORIDA COMPANY
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Applejack Wine & Spirits, a longtime Colorado liquor retailer founded in Wheat Ridge in 1961, has been sold to Florida‑based ABC Fine Wine & Spirits as part of the buyer’s nationwide expansion. The deal brings Applejack, known for its large selection and family‑owned roots, under the ownership of one of the country’s largest privately held wine and spirits chains. ABC Fine Wine & Spirits said it plans to retain Applejack’s brand and local presence while expanding its footprint beyond the Southeast. Applejack has grown from a single store into a regional destination for wine, beer and spirits over more than six decades, becoming a fixture in Colorado’s retail liquor landscape. The acquisition reflects continued consolidation in the alcohol retail industry as national chains seek established local brands with loyal customer bases.
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VALLEY VIEW OFFERS FREE WOMEN’S HEALTH SERIES
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Valley View is launching a free Women’s Health Series designed to give women practical, in‑depth guidance on aging well, menopause and heart health through short online presentations led by female health-care providers. The series includes three 30‑minute webinars with open question‑and‑answer sessions and is part of Valley View University, an educational program aimed at providing accessible health information outside the time constraints of a traditional doctor’s visit. The first session, “Living Well as You Age: Practical Tips for Lifelong Vitality,” will be presented at noon Wednesday by Valley View internist Dr. Susan Williams, who will discuss annual screenings along with diet and lifestyle changes that support healthy aging. Additional sessions will cover perimenopause and menopause on Feb. 18 and chest pain and heart failure in women on Feb. 25. All sessions are free and open to the public, with registration available online at vvh.org/events-classes.
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BALLOON FESTIVAL TO RETURN TO DELTA
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The city of Delta has announced the return of the Western Sky Balloon Festival over the Fourth of July weekend, bringing hot air balloons and a slate of community events back to Confluence Park. The festival, now entering its fourth year, will run July 3-5 and is being framed as part of the national America 250 and Colorado 150 celebrations. According to a city press release, 25 hot air balloons piloted by crews from several states are expected to participate, including a handful of special-shape balloons. The multi-day event will feature morning balloon launches, tethered rides, evening balloon glows, a drone show, fireworks, community breakfasts, a craft fair, beer garden, kids’ zone, food trucks, games, competitions and prizes. The festival follows last year’s event, which drew hundreds of early morning spectators to watch nearly 20 balloons lift off over Confluence Lake.
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MAGIC CIRCLE PLAYERS HAVE OPPORTUNITY TO BUY THEATER PROPERTY WITH BENEFIT SHOW
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Magic Circle Players is inviting the community to support its effort to purchase the land beneath its longtime Montrose theater through its annual benefit production, My Funny Valentine: Our Song. The opportunity arose after the theater learned last fall that the property could become available through a land swap between the Volunteers of America and the City of Montrose, allowing the city to sell the parcel to Magic Circle. Leaders say owning the land would secure the future of the community theater, which has operated on a $1 per year lease since the building opened in 1974 and whose current 99-year lease expires in 2072. Founded in 1959, Magic Circle has staged more than 330 productions and continues to serve as a creative home for performers of all ages.
Proceeds from the benefit show will help fund the purchase and preserve the theater for future generations. My Funny Valentine: Our Song opens Thursday, Feb. 5, with four performances through Sunday, Feb. 8. Tickets are available at magiccircleplayers.com or at the box office by calling 970-249-7838.
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AGING VALLECITO RESERVOIR NEEDS A SERIOUS MAKEOVER
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Vallecito Dam, built in the late 1930s, is facing a major repair project as aging infrastructure and erosion have compromised its emergency spillway, a critical safety feature used during extreme runoff or flood events. While the dam remains structurally sound and does not pose an immediate threat, officials with the Pine River Irrigation District say the upper spillway is unsafe to use except in dire emergencies because water has been migrating beneath the concrete, creating underground voids and increasing erosion risks. To reduce danger, reservoir operations have been modified to keep water levels below the spillway gates, but long-term fixes are considered essential.
Preliminary estimates suggest repairs could take two to four years once construction begins and cost hundreds of millions of dollars, potentially exceeding $500 million, with most of the expense expected to be covered by the federal government. The project could temporarily affect water deliveries to irrigators and ranchers who rely on the reservoir, as well as water allocated to the Southern Ute Indian Tribe, which holds rights to one sixth of the reservoir’s storage. Officials say planning is ongoing, with multiple design options under review, and emphasize that timely repairs are critical to protecting downstream communities and the region’s agricultural lifeline.
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STEADMAN PHILIPPON RESEARCH INSTITUTE, VAIL HEALTH RENEW PARTNERSHIP WITH FIVE-YEAR COMMITMENT
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Steadman Philippon Research Institute and Vail Health have renewed their partnership with a new five-year agreement, extending a collaboration that began in 2015 and has driven major advances in regenerative medicine, cancer, orthopaedics and behavioral health research. The original 10-year partnership helped establish key laboratory infrastructure at the research institute, launched its regenerative medicine program and provided seed funding for pilot studies that later grew into multiyear clinical trials supported by the National Institutes of Health and Dept. of Defense. Clinicians and scientists have explored innovative orthopaedic treatments, including anti-fibrotic medications and senolytic supplements used alongside biologic therapies and advanced surgical techniques.
The renewed agreement prioritizes two core research areas already producing results: cancer and behavioral health. At Vail Health’s Shaw Cancer Center, anti-fibrotic orthopaedic research is being applied to breast cancer patients experiencing radiation-induced fibrosis, with early pilot studies showing promise. In behavioral health, Vail Health’s clinical studies on depression — including hot and cold therapy and the therapeutic use of psilocybin — are supported by the research institute through biomarker analysis. Together, the organizations aim to expand collaboration in healthy aging, longevity and improving healthspan, strengthening the Mountain West’s role as a center for world class medical research.
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BRECKENRIDGE FLIPPED MORE THAN 20 PROPERTIES INTO WORKFORCE HOUSING THROUGH TOWN PROGRAMS IN 2025
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Breckenridge converted more than 20 market‑rate properties into workforce housing in 2025 through its Housing Helps and Buy Downs programs, investing just under $3 million to expand attainable housing for local workers. Town Council reviewed the year‑end results Jan. 27, learning that Housing Helps accounted for nearly $2.2 million of the spending and funded 21 homes out of 59 applications, including condos, single‑family homes and townhomes totaling 43 bedrooms. The program paid owners 15 to 25 percent of market value in exchange for deed restrictions, with an average cost of about $104,000 per unit and roughly $50,000 per bedroom — far less than the estimated cost of building accessory dwelling units.
The Buy Downs program used about $807,000 to purchase and resell deed‑restricted homes, adding workforce units to the inventory. Council members praised the programs’ cost‑effectiveness and impact, and the town has budgeted $3.3 million for Housing Helps and $2.5 million for Buy Downs in 2026. Officials said Breckenridge aims to grow its workforce housing stock from 1,665 units to 2,200 by 2030 while also reducing the number of unoccupied homes.
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“WHAT IS COTREX & HOW TO USE IT” PRESENTATION SET FOR FEB. 10 IN CORTEZ
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Mesa Verde Back Country Horsemen will host a public presentation titled “What is COTREX and How To Use It” during its monthly meeting on Tuesday, Feb. 10, offering an introduction to the statewide trail‑mapping and recreation app and outlining how the public can get involved in a new Back Country Horsemen project. The event is open to everyone and will also highlight the organization’s work maintaining trails and keeping them accessible for historic pack and saddle stock through partnerships with land management agencies. The meeting will be held at 2258 East Main St. in Cortez, with a happy half hour beginning at 6:30 p.m. and the presentation starting at 7 p.m.
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DID THE GROUNDHOG SEE HIS SHADOW? HERE’S PUNXSUTAWNEY PHIL’S 2026 FORECAST
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Punxsutawney Phil saw his shadow on Groundhog Day 2026, signaling six more weeks of winter according to tradition. The annual ceremony took place Feb. 2 at Gobbler’s Knob in Punxsutawney, Pennsylvania, where thousands gathered to watch the famed groundhog deliver his forecast — a result that aligns with Phil’s long-standing tendency to predict a longer winter.
- Phil has seen his shadow 110 times since Groundhog Day records began.
- He has predicted an early spring only 21 times in recorded history.
- Phil has forecast a longer winter in four of the past six years: 2021, 2022, 2023 and 2025.
- Groundhog Day is rooted in Candlemas, a Christian feast day tied to early weather forecasting traditions.
- European settlers once relied on bears or badgers for seasonal predictions before German immigrants in Pennsylvania adopted the groundhog.
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COLORADO’S WORKFORCE HAS BEEN SHRINKING SINCE SEPTEMBER — AND THAT COULD SPELL TROUBLE
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Colorado’s labor force has been steadily contracting since September, a rare pattern that historically has appeared only during major economic shocks such as the pandemic, the Great Recession or the 1980s oil and gas bust. State employment data show more than 20,000 workers left the labor force in 2025, raising concerns among economists that demographic shifts and slowing migration — rather than a recession — are driving the decline. While unemployment has fallen, job growth has been weak, and experts warn that a shrinking workforce could limit Colorado’s economic growth in the years ahead.
- Labor force decline: Down 0.6 percent year-over-year in December, matching the pace seen during the Great Recession.
- Workers lost: 20,280 people exited the labor force in 2025, mostly in the fourth quarter.
- Historical context: Similar declines previously occurred only during the COVID-19 pandemic, the Great Recession, and the 1980s oil and gas downturn.
- Migration shift: Colorado lost 12,100 more residents to other states than it gained in the year through June 30, while international migration slowed sharply.
- Unemployment rate: Fell from 4.6 percent to 3.8 percent over the past year, largely because fewer people are working or looking for work.
- Job growth: Nonfarm payrolls rose by 23,000 over the past year, one of the slowest hiring paces outside a recession.
- Participation rate: Labor force participation dropped to 66.9 percent in December, the lowest level since October 2020.
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MARKET UPDATE - 02/02/2026 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 01/29/2026)
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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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