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Colorado - Mon. 12/30/19 |
A Free Business Publication from Alpine Bank
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MINIMUM WAGE GOES UP IN COLORADO, 21 OTHER STATES, JAN. 1
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In Colorado, the minimum wage will increase from $11.10 on Jan. 1. There are 21 other states that will enact an increase in the minimum wage on Jan. 1. The Colorado Legislature passed HB 1210, which allowed local governments in the state to set their own minimum wage levels. In November, Denver increased the city's minimum wage to $12.85, with a second increase to $14.77 going into effect Jan. 1 and a third to $15.87 in 2022. In New York City, the minimum wage will increase to $15 an hour next week. In California, the minimum wage will increase $1 to $13 an hour on Jan. 1.
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JUDGE: BOULDER COUNTY HAS RIGHT TO REVIEW RESERVOIR EXPANSION
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On Friday, Boulder District Judge Andrew Macdonald ruled that Boulder County has the right to review the proposed expansion of Gross Reservoir by Denver Water, which would be the largest construction project in county history. The judge ruled that the county retained the right of review as provided in House Bill 1041, passed in 1974, which allows local governments to review and regulate matters of statewide interest through a local permitting process. Denver Water asserted it was excused from county review, claiming it had a "zoned law exemption."
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"RISE OF SKYWALKER" TOPS BOX OFFICE IN ITS SECOND WEEK
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Walt Disney Co.’s “Star Wars: The Rise of Skywalker” held the top position at the box office for the second consecutive weekend, with an estimated $72 million in the U.S. and Canada. On Christmas Day, "The Rise of Skywalker" recorded a take of $32.2 million, the second-best Christmas Day showing of all time at the domestic box office. “Star Wars: The Force Awakens” holds the record after grossing $49.3 million in 2015. Since its opening, "The Rise of Skywalker" has taken in an estimated $361.8 million in North America, and $724.8 million worldwide.
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ASPEN NATIVE WHITNEY WICKES ON FORBES "30 UNDER 30" LIST
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Whitney Wickes was born and raised in Aspen, was an outstanding skier and equestrian, graduated from the University of Colorado Boulder and this December, was recognized as one of Forbes magazine's 30 under 30 top entrepreneurs for 2020 in the energy sector. Wickes is the co-founder and head of Rocking WW Minerals, headquartered in Sheridan, Wyoming. She is self-educated about oil and gas, has taken a company through bankruptcy, and was the youngest female executive at a public oil and gas company in the U.S. at 26.
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NEW YEAR'S EVE FULL OF FIREWORKS, MUSIC, FUN
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New Year's Eve in Aspen will have two fireworks shows, one at 8 p.m. and one at midnight. New in Aspen this year, is a "let it go" celebration. There will be drop boxes around town where people can write down old resolutions, or anything in need of release and city officials will throw them into the bonfire at Wagner Park. At Snowmass, there will be a torchlight parade on Fanny Hill, followed by fireworks at 10 p.m. In Glenwood Springs, the Grand New Year's Celebration on Seventh Street will feature live music performances.
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CONNECTING THE "BRIDGE TO NOWHERE" TO START NEXT YEAR
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The Colorado Department of Transportation announced last week that the $98.6 million project to design and build the 1.7-mile realignment of U.S. Highway 550 will begin in the spring. The project will connect the "Bridge to Nowhere" to U.S. Highway 550 atop Farmington Hill. The connection will reroute traffic to bypass the steep Farmington Hill. The project has been in the works for more than 10 years, involving land negotiations and the discovery of seven archaeological sites in the path of the rerouted highway.
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LA PLATA RECEIVES GRANT TO UPGRADE LAND RECORD SYSTEMS
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The Colorado State Department's Electronic Recording Technology Board has granted $350,000 to La Plata County to upgrade and improve its recording technology at the Clerk & Recorder's Office. With the upgrades, the county can replace handwritten ledger books with digital data, making it easier to access and search for land records, dating back to 1874. The upgrades will make it possible to access the records online.
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DID YOU KNOW COLORADO IS A NATIONAL TRANSIT LEADER?
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Colorado leads the nation in rural public transportation. Local agencies in the state serve more riders in areas with fewer than 50,000 residents than any other state. Colorado’s dozens of local rural systems reported 16.7 million boardings in 2017...more than twice the totals for rural systems in second-place Michigan and third-place California. Moreover, the Colorado total does not include the Vail town bus system, which does not report 3.2 million boardings to FTA because it does not receive any federal funding. The leader in the state is the Roaring Fork Transportation Authority, which is the highest-ridership rural agency in the U.S., with more than 5 million boardings. More than 60 percent of Colorado's fixed-route transit systems are in rural areas, and the numbers in many of the rural areas are based on workers commuting to high-cost resort areas. Those numbers also spike during ski season as visitors flood resorts and nearby towns.
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WHERE IT COSTS THE MOST FOR A COLORADO SKI VACATION
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Vacation rental search engine HomeToGo developed its Colorado Ski Price Index, which estimated the cost of a vacation for 4 at 14 Colorado resorts. The price, per person-per day, was based on one night of accommodation, a single-day lift ticket, ski rentals and a cheeseburger and fries on the hill:
Costliest:
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Beaver Creek, $632.02
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Aspen, $548.57
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Vail, $518.22
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Average price, $389
Lowest price:
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Monarch Mountain, $229.19
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Purgatory Resort, $279.47
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Arapahoe Basin, $282.32
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SOME WILD WEATHER ACROSS COLORADO IN 2019
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It was a wild weather year in Colorado: an epic winter snowfall; the largest hailstone; hottest overall temperature; lowest barometric pressure reading ever. Here is a sample, in no particular order:
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Avalanches: At least 2,000 avalanches last winter; 8 fatalities from avalanches
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Hottest temperature: On July 20, the temperature hit 120 degrees at the John Martin Dam near Lamar, the highest temperature on record, topping 114 degrees recorded in 1933 and 1954
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Latest 100-degree temperature recorded in Denver: Labor Day, Sept. 2, the temperature reached 100 in Denver, the latest 100-degree reading on record
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Largest hailstone: a 4.83-inch diameter hailstone measured in Bethune on Aug. 13 was the largest hailstone ever recorded in Colorado
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Bomb Cyclone: In March, a storm blew across Colorado, bringing the state's lowest barometric reading on record, 970-millibars in Lamar, causing winds of 80 mph closing Denver International Airport for just the fourth time in history and the highest wind recorded in Colorado Springs, 96 mph
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MARKET UPDATE - 12/27/2019 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 12/26/2019)
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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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