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Colorado - Tue. 07/07/26 |
A Free Business Publication from Alpine Bank
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SHOWERS & THUNDERSTORMS FORECAST FOR COLORADO'S HIGH COUNTRY
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Following several days of hot, dry weather, Colorado’s Western Slope is poised to see a period of rainy skies with possible thunderstorms ahead of what meteorologists expect to be an active monsoon season arriving later this summer. Beginning Tuesday, a wave of energy is expected to track across the Northern and Central Rockies, leading to a significant uptick in thunderstorm activity statewide, according to a July 6 report from OpenSnow Meteorologist Alan Smith. The forecast shows a moderate-to-high chance of showers and thunderstorms across the High Country beginning Tuesday afternoon, with patchy smoke lingering from the morning through the early afternoon due to active fires located across Southeast Utah and Southern Colorado.
Wednesday is expected to bring more of the same, with up to a 40 percent chance of showers and thunderstorms and possible wind gusts up to 25 miles per hour across the northern and central mountains, according to the National Weather Service. Thunderstorms could become more scattered with limited moisture on Thursday, followed by a return to clear skies by Friday. While stronger storms throughout the week could produce locally heavy rain in some of the mountains, drier air at lower elevations could lead to a “dry thunderstorm” setup when paired with gusty winds and limited rainfall, especially on Thursday, Smith wrote in the report. The possibility of dry thunderstorms — bringing lightning strikes on dry vegetation with no rain to extinguish the resulting sparks — could heighten wildfire risk in drought-stricken regions of the state.
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A CHIC BOUTIQUE HOTEL THAT STARTED IN ASPEN IS GOING GLOBAL
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The owner of Aspen’s Little Nell hotel is launching a new luxury hospitality brand, aiming to cash in on the booming high-end travel market. The hotel has been a popular destination for the jet-set ski crowd since opening in 1989, with room rates averaging $2,300 a night during the busy winter season for its 92 rooms. The new brand will be called Nell Hotels, owner Aspen One said. Like its original location, which gives guests direct access to Aspen Mountain’s ski slopes, future Nell Hotels will offer exclusive access to the cultural landmarks or other attractions of its locales as well as the Little Nell’s curated wine programs, high-end dining and spa amenities.
Nell Hotels’ second location, the Nell New York, is poised to break new ground as the first hotel in Rockefeller Center when it opens next year. The new hotel brand, which will also include high-end residences in Aspen, aims for an eventual expansion to add a limited number of locations. Future properties will depend on finding prime real estate in places where Nell Hotels’ existing customers already travel including the possibility of opening hotels in South Florida or Courchevel in the French Alps. The number of boutique hotels in the U.S. has increased about 35 percent over the past 10 years, reaching 3,025 as of May 2026.
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BOULDER, FORT COLLINS RANKED HIGH FOR TECH, QUALITY OF LIFE
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Boulder and Fort Collins scored high for offering the best conditions for the technology industry and the workers on which it depends, according to a new report from Commercial Cafe. The company’s researchers evaluated more than 70 metropolitan areas in the western U.S. with a population of more than 200,000 and awarded points across metrics covering the density and growth of tech establishments; the density and growth of tech employment; median tech earnings and their growth; a composite life-quality index; and five-year patent output. Two Colorado cities, San Jose and San Francisco, led the overall ratings, but Boulder came in third as what researchers called the West’s standout metro for educational attainment, with 66.5 percent of adults holding a bachelor’s degree or higher. Educational attainment was one of three metrics in Cafe Connect’s life-quality index, and Boulder scored highest of any metro in the study with Fort Collins second.
On a per-capita basis, Boulder ranks second on tech-company density with nearly 60 tech firms per 1,000 companies and third on tech workforce density with 87.8 of every 1,000 jobs in tech roles. Denver ranked seventh on the overall list, Colorado Springs came in 11th and Fort Collins 15th. Commercial Cafe’s composite life-quality index scored each metro on educational attainment, unemployment rate and regional price parity. The maximum number of points for this indicator was 15, and Boulder led the West at 11.4 points out of 15 for the highest educational attainment in the study because 66.5 percent of adults hold a bachelor’s degree or higher and the unemployment rate is 4.3 percent. Fort Collins at 11.3 was close behind with the third-highest education rate at 55.5 percent and the lowest unemployment among Colorado’s four top-20 entries at 4.2 percent.
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ABOUT ONE-THIRD OF COLORADANS USE AI, MICROSOFT REPORT FINDS
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About one-third of Colorado residents are using artificial intelligence tools, placing the state slightly above the national average, according to a Microsoft report released in May. The report, Measuring AI Diffusion Across U.S. Geographies, found Colorado ranked 15th nationally for AI adoption for working-age users in the first quarter of 2026. The state’s AI user share was 32.3 percent, compared with the national average of 31.3 percent. The study used Microsoft’s data from working-age users who actively used major AI tools, including ChatGPT, Google Gemini, Claude and Microsoft Copilot, during the first quarter of 2026 to estimate AI adoption rates across U.S. counties, states and metropolitan areas. Microsoft researchers found that AI adoption is uneven across the country and is strongest in metropolitan areas, college communities and regions with knowledge-based economies. Colorado’s data reflects that pattern.
- Metropolitan counties in the state reported an average AI user share of 33.7 percent
- Micropolitan counties averaged 22.6 percent
- Rural counties lagged significantly behind at 17.1 percent
Boulder County led Colorado counties with an AI user share of 43.7 percent, followed by:
- Broomfield County at 38.8 percent
- Larimer County at 35.9 percent
- Douglas County at 34.6 percent
- Denver County at 34.4 percent
- Gunnison County at 34.3 percent
- El Paso County at 34.2 percent
At the other end of the spectrum:
- Custer County recorded the state’s lowest AI user share at 9.3 percent
- Jackson County at 9.7 percent
- Kiowa County at 10.0 percent
- Hinsdale County at 10.1 percent
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STARTUPS MOVE TO COLORADO AMID CONCERNS STATE LOSING ITS LUSTER FOR TECH COMPANIES
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Charlie Childs, the CEO of a biotechnology startup, moved the company to Colorado for the lifestyle and because she believes the state is an up-and-coming hub for the industry. The same for Blake Herren, head of the startup Raven Space Systems, on Colorado’s quality of life. And outreach by the state and the business community made an impression as he was considering moving from Kansas City. Their moves to Colorado come as a business coalition has raised concerns that the state’s status as a draw for tech and innovation companies is in danger. More than 230 business, technology and civic leaders sent a letter in April to elected leaders, saying that Colorado is losing companies and jobs to other states. The coalition’s letter warned that other states are luring away companies and beating out Colorado for investment and entrepreneurs “by offering clearer policy signals, faster regulatory pathways, and stronger alignment between government and growth.”
Gov. Polis and Eve Lieberman, executive director of the Colorado Office of Economic Development and International Trade, met with about 70 business leaders last month. The session was the first in a series planned across the state to focus on the business community, innovation, supporting good paying jobs and Colorado’s economy. The state’s Opportunity Now Colorado program aims to grow existing companies, attract new ones and “train up” workers for new positions. The program focuses on the state’s strategic priorities, such as promoting advanced industries, and helps fill training gaps where there are workforce shortages. The Opportunity Now program is in its second year and the tax credits that companies can apply for will build on the $90 million in grants that have been awarded. The grants are projected to serve 20,000 Coloradans across almost every county in the state.
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I-70 SAW MORE THAN 160,000 DRIVERS OVER THE FOURTH OF JULY HOLIDAY WEEKEND
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The Interstate 70 mountain corridor was busy over the Fourth of July weekend but did not see record-breaking traffic. About 163,500 vehicles passed through the Eisenhower-Johnson Memorial Tunnels from Thursday, July 2, through Sunday, July 5, according to the Colorado Dept. of Transportation. That’s about 4 percent fewer vehicles than during the Fourth of July holiday period last year and about 10 percent fewer vehicles than during 2020, which was the last time that the holiday fell on a weekend.
Sunday was the busiest day on I-70 over the holiday weekend, with about 46,450 drivers on the road, with nearly two-thirds headed eastbound toward Denver. On Thursday, about 44,500 drivers passed through the tunnels. On Friday, more than 42,000 passed through the tunnels, the majority of them heading westbound to the mountains ahead of the holiday. The transportation department reported that there were no major issues or closures on the I-70 mountain corridor over the weekend, despite concerns about the high fire danger ahead of the holiday.
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RAFTING COMMUNITY SEEING SOME IMPACTS FROM THE LOW RIVER FLOWS THIS SEASON
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River rats in the Grand Valley are having to adapt to low snowpack and extreme drought conditions this season. Water-based outdoor recreation activities such as whitewater rafting are a major draw for tourists to the Grand Valley in the summer months. Normally, there are world-class rapids just an hour away down Westwater Canyon or approachable overnight fun just up-river in Ruby Horsethief Canyon. One of the most accessible sections of the Colorado River runs right through the heart of Grand Junction. However, low water levels could mean smaller crafts and shorter trips. Flows for this undammed river start near Steamboat Springs and it links up with the Green River near Dinosaur National Monument in northwest Colorado. Centennial Canoe river guide Claire Strickland said that the lower flows put extra stress on guides because there are more obstacles like rocks to navigate around.
At a gathering of local water organization leaders back in May, the attendees characterized the conditions as “bleak.” In 2024, the boating and fishing industry accounted for approximately $736 million in the state of Colorado. A study, published by three professors at CMU in 2022, found that in Mesa County, the outdoor recreation industry accounted for about 7.2 percent of the county’s gross domestic product (GDP) and 11 percent of the labor force. They also found that about 18.2 percent of that industry is related to “water-based” business activities.
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CITY OF STEAMBOAT SPRINGS REPORTS 3.4% DIP IN SALES TAX REVENUE IN MAY
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The city of Steamboat Springs reported a dip in tax revenue in its preliminary sales tax report for May, with overall collections from sales, use, accommodation and short-term rental taxes falling about 3.4 percent, or roughly $79,500, compared with the same month last year. Year-to-date totals are down more than $1 million from 2025 levels. City officials had projected sales tax revenue for 2026 to match last year, but collections through May came in about 5.3 percent below budget.
- Grocery store tax revenue dropped 22 percent year over year
- Utilities fell nearly 7.7 percent
- Collections from liquor and marijuana sales also declined, down about 8 percent
Not all categories saw decreases.
- Accommodation tax revenue, which helps fund parks, open space, environmental initiatives and community amenities, rose 3.5 percent from May 2025, an increase of about $1,600
- Short-term rental tax collections also climbed, increasing nearly 4.7 percent year over year, or about $11,900
- Building use tax revenue rose more than 400 percent compared with May 2025, totaling an increase of roughly $845,000
To view the full preliminary report, visit tinyurl.com/mswtsm3p.
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ALPINE BANK OPENS BENEFIT ACCOUNT FOR FIVE SNYDER FIRE FIREFIGHTERS
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Alpine Bank has established a dedicated benefit account to support the families of five firefighters impacted by the Snyder Fire, which remains active along the Colorado-Utah border in Mesa County. Three of the firefighters tragically lost their lives in the line of duty and two were critically injured and are in stable condition at this time. Alpine Bank is launching the effort with an initial $25,000 donation, to be split equally among the five families. The bank has a longstanding commitment to supporting the communities it serves, especially in moments of hardship.
“This hits close to home for all of us,” said Alpine Bank Regional President Tyler Dahl. “When something like this happens, you don’t hesitate. You show up. 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 account is 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 alpinebank.com/snyderfire.
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CSU EXPERT SHARES AIR AWARENESS STRATEGIES AMID RISING SMOKE, OZONE RISKS
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Wildfire smoke is blanketing parts of Colorado this summer following a dry winter, with large fires such as the Aspen Acres fire burning tens of thousands of acres and sending plumes across the state. Combined with frequent high-ozone days on the Front Range, poor air quality is threatening public health. Colorado State University public health researcher Sheryl Magzamen tracks the impacts of smoke and urges residents to stay air aware. Her work includes studies on cardiopulmonary effects from local and transported wildfire smoke in the Front Range. Magzamen leads a NASA-funded project with the U.S. Dept. of Veterans Affairs examining how smoke affects veterans with chronic obstructive pulmonary disease and explores long-term and chronic exposure risks. She and colleagues call smoke a “silent epidemic.” Particles from distant fires can travel far and infiltrate indoors.
Magzamen recommends these steps:
- Prepare an evacuation plan for fires, including pets and livestock, when authorities issue orders.
- Monitor air quality at Airnow.gov or CDPHE resources. The Air Quality Index ranges from 0 to 500. Readings above 100 are unhealthy for sensitive groups. Readings above 150 are unhealthy for everyone. On Monday, Denver’s Current Air Quality stood at 129, according to Airnow.gov
- Protect vulnerable populations. Smoke and ozone hit hardest among the elderly, young children, pregnant women and those with asthma, COPD, heart disease or diabetes. Avoid intense outdoor activity on high AQI days.
- Maintain indoor systems. Change air filters every six months. Swamp coolers do not filter air and can pull smoke inside.
- Check on neighbors. Offer help to those without cooling or in at-risk groups. Public spaces such as recreation centers or libraries provide relief.
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MARKET UPDATE - 07/06/2026 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 07/02/2026)
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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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