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Colorado - Tue. 10/15/24 |
A Free Business Publication from Alpine Bank
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COLORADO OWES TAXPAYERS $1.7 BILLION IN TABOR REFUNDS
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The Colorado state government owes taxpayers a total of $1.7 billion in refunds mandated under the Taxpayer's Bill of Rights. The state collected about $1.4 billion more in revenue during the 2024 Fiscal Year than allowed under TABOR. The state already has roughly $290 million in outstanding TABOR refund liability at the beginning of the fiscal year, bringing the total refund amount to about $1.66 billion. Passed by voters in 1992, TABOR limits the annual growth in revenue to the inflation rate, plus population change. Any amount raised above the limit must be returned to taxpayers. Colorado has three refund mechanisms — a property tax exemption reimbursement through the local government, a temporary reduction in the income tax rate, and a six-tier sales tax refund that distributes money based on people's adjusted gross income.
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COLORADO'S LOW INFLATION RATE UNCHANGED, LOWER THAN THE REST OF THE U.S.
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Prices in Colorado were mostly flat last month as the state’s inflation continues to run lower than in the rest of the U.S. Prices in the Denver metro area, encompassing Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties, were unchanged in August and September. Inflation in the region was 2 percent annually, compared to U.S. inflation of 3.3 percent. Nationwide inflation started cooling more than two years ago.
For shoppers, prices remain far higher than they were four years ago, putting people in a dour mood about the economy. Although, some things are getting cheaper, prices keep climbing in other areas. For instance, the price of gas is down 12 percent for Coloradans from a year ago. A used car will cost about 4 percent less. But going out to eat is nearly 6 percent more costly than at this time last year, while rent is up 2.7 percent.
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APPLICATION FEES WAIVED AT COLORADO COLLEGES THIS WEEK
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It will be free to apply to the 32 public colleges and universities in Colorado Oct. 15-17. It is the seventh Free Application Days campaign to increase the college-going rate for Colorado students. Last year, students turned in nearly 65,000 applications, with 44 percent coming from students of color and over one-third coming from first-generation college students. According to the 2023 Colorado Talent Pipeline report, 94.7 percent of Tier 1 top jobs and 64.7 percent of Tier 2 top jobs required some type of postsecondary education. The report defines Tier 1 jobs as having a salary of about $77,000. Tier 2 jobs have a salary of about $40,000. Application fees vary. The University of Colorado Boulder application costs $65 for domestic students and $70 for international students. Applications to Colorado College, however, are free year-round, as at community colleges. More information is available at cdhe.colorado.gov/2024-colorado-free-application-days-instructions.
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SALT LAKE CITY FLIGHT RETURNING TO GRAND JUNCTION
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A flight to Salt Lake City is returning to Grand Junction Regional Airport courtesy of SkyWest Airlines, which will operate the flight for Delta Airlines. Flights to Salt Lake City will resume Dec. 3. "The connectivity between western Colorado and Salt Lake is really significant," Grand Junction Mayor Abe Herman said. "And the importance of that connectivity is growing." Herman noted Grand Junction's two major hospitals have business ties to Salt Lake City, and much of Grand Junction's manufacturing economy has ties to that area as well. Salt Lake City is a Delta hub and includes direct flights to Amsterdam and London. The flights to and from Salt Lake City will have early morning departures and late evening arrivals. The Grand Junction Airport is now the only airport in Western Colorado with nonstop travel to Salt Lake City.
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BLUE MESA BRIDGE TO OPEN 24 HOURS A DAY
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The U.S. 50 Middle Bridge at Blue Mesa Reservoir will be open 24 hours a day, to all legal loads, starting Wednesday. The travel pattern remains single lane, alternating, led by a pilot vehicle. Motorists should still plan on a delay as they queue for their turn, the Colorado Dept. of Transportation said. Final construction activities will continue during overnight hours, 11:30 p.m. to 6 a.m., and late-night travelers can expect longer wait times. The remaining construction activity will prepare the bridge for normal, two-way traffic, with both lanes open, ahead of winter. CDOT and Kiewit will host a virtual public meeting to answer questions today from 6:30 to 7:15 p.m. Spanish interpretation will be available. Zoom link: us06web.zoom.us/j/85486998008.
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WSVC HOSTS SECOND ANNUAL STAND DOWN DAY IN SUPPORT OF VETERANS
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The Western Slope Veterans Coalition will be hosting its second annual Stand Down Day from 10 a.m. to 6 p.m. on Friday, Oct. 18 at the Rifle Moose Lodge (133 E. 3rd St., Rifle). These events are designed to help veterans, especially those experiencing health challenges or lack of permanent housing, to overcome feelings of isolation by providing a safe space to connect with others who have shared experiences. Veterans Affairs representatives will be available for consultation, as well as representatives from VA Outreach, VET Center, Veteran Readiness and Employment, My HealtheVet, Peer Support, Suicide Prevention, the Veterans Benefits Administration, Women Veteran Program, Western Region One Source, and several charitable groups. The Veterans Coalition is accepting donated items such as clothing, hygiene items and coats for distribution. Refreshments will be provided. Those in need of transportation assistance can call 970-233-8735.
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VALLEY FOOD PARTNERSHIP CELEBRATES FARMERS MARKET WITH 'STONE SOUP' LUNCH
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Valley Food Partnership celebrates the ways food builds community on Saturday, Oct. 19, at its annual Stone Soup Community Lunch, which honors the many vendors of the Farmers Market, customers, and partners. From 11 a.m. to 1 p.m., at the Montrose Police Dept. Community Room, come share a bowl of delicious homemade soup made from locally sourced ingredients. There will be both a meat and a vegan soup option, salad, and bread. It is the partnership's way of saying “thank you” to the people who help make the Montrose Farmers Market a true community hub and comes through the sponsorship of Hilltop Family Resource Center and Montrose Community Foundation. The partnership thanked the sponsors whose financial and in-kind contributions keep the market thriving with special events, food access programs such as SNAP and Double Up Food Bucks, and live music throughout the summer. The VFP especially thanked its top sponsors: Alpine Bank, Montrose DART, and Atlasta Solar.
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CORE TRANSIT PLANS FOR MORE SERVICE ACROSS EAGLE COUNTY THIS WINTER
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The Core Transit board meeting on Oct. 9 at Avon Town Hall included a reflection on the transit organization’s third quarter and a peek into its winter plans. Core Transit encompasses ECO Transit and the Eagle Valley Transportation Authority and provides transit service for those traveling from Dotsero, Vail, Leadville and everywhere in between. In his quarterly update, Dave Snyder, the new director of transportation, reviewed the third quarter of ridership, which saw more riders, and fewer accidents, than the same time last year.
- Core Transit vehicles were in five accidents from July to September of 2024, compared to 13 during the same time in 2023. Drivers that were in accidents were provided with counseling and further training.
- Meanwhile, there were far more riders from July to September of 2024 compared to 2023.
- Ridership increased by 60 percent, or nearly 150,000 riders, nearing 400,000 total riders on the system.
- Core Transit adjusted to the increased ridership by running more frequently this summer (40 percent more in summer 2024 over 2023), a service improvement that will continue into the winter, with all routes maintaining or increasing operations.
- Core Transit’s winter schedule will run from Dec. 1 through Apr. 13.
- All routes that are already fare-free will remain fare-free, and paid routes will remain the same price.
- The full Core Transit winter 2024-25 schedule is due to be released this week.
- Core Transit needs 63 operators (bus drivers) to run the elevated winter schedule. Currently, the organization has 44 full-time, seven seasonal and some part-time operators, totaling 53 operators.
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COLORADO PARKS & WILDLIFE ADDS TWO EV CHARGING STATIONS AT STEAMBOAT LAKE
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Colorado Parks and Wildlife has added two more Rivian Waypoints Level 2 electric vehicle charging stations at Steamboat Lake State Park. The two new stations are at the Steamboat Lake State Park Visitor Center and open to any make or model of electric vehicle. The charging stations are part of CPW’s partnership with Rivian to install charging stations at state parks across Colorado. Making them more accessible to those who drive electric vehicles but wish to visit State Parks in more remote locations. The Level 2 chargers provide up to 11.5 kW — enough to add up to 25 miles of charge per hour to a Rivian R1T or R1S. All Rivian Waypoints are powered by 100 percent renewable energy. The use of the CPW chargers is free of charge to the public for a limited time. To learn more about Steamboat Lake State Park or to see a list of parks with EV charging stations, go to CPW.state.co.us/state-parks.
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COLORADO CLAIMS TWO OF THE MOST DOG-FRIENDLY SKI RESORTS IN THE COUNTRY
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“Traveling with your dog, or dogs, is easier and more accessible than ever,” writes On The Snow, the popular winter sports magazine, which rounded up a list of eight resorts across the country — from coast to coast — that have pup-friendly amenities or accommodations. Colorado unsurprisingly nabbed two of those spots in the recent roundup. Here is what On the Snow had to say about Aspen and Telluride.
- Aspen: For a five-star experience, The Little Nell is hard to beat. Dogs are greeted with homemade treats, a doggie bed prepped for arrival, and a Puppy Jet Lag Kit. There is even a special Epicurean pet menu with tempting meals like Wagyu beef and grilled salmon. Other hotels cater to pets as well, and they are even allowed on some gondolas.
- Telluride: This southern Colorado mountain mecca is also dog-friendly, boasting multiple lodging options for your canine friends. Even the free public bus, the Galloping Goose, allows dogs to ride if they are leashed. “While dogs aren’t allowed on trails or ski lifts during operating hours in the winter, dogs may ride in approved pet cabins on the Chondola." “Well-behaved dogs” are also allowed to join their owners “after operating hours if they follow “uphill policies.”
- On The Snow also provides details on Park City, Utah; Stowe, Vermont; and Mammoth Lakes, California, among other dog-friendly destinations.
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RARE COMET SPOTTED IN COLORADO, WON'T BE BACK FOR 80,000 YEARS
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On Sunday night, people across Colorado spotted a rare comet that only comes every 80,000 years. Luckily, there’s still time to see it. According to NASA, the comet was discovered in 2023 at China’s Tsuchinshan Observatory and on an ATLAS telescope in South Africa, eventually getting the name Comet Tsuchinshan-ATLAS. While the comet was first documented last year, it is believed to be incredibly old. NASA said it came from the Oort Cloud, which lies beyond Pluto. After the comet travels within 44 million miles of Earth, it will not return for another 80,000 years — and that is assuming it survives the trip. The comet was projected to come into view in mid-October, and already, viewers across Colorado have spotted the rare sight. Some viewers in Loveland, Steamboat and South Park photographed the comet on Sunday. While the comet was already spotted in Colorado, there’s still time to see it:
- NASA said the comet can be seen with the naked eye from mid-October through the end of the month.
- According to the Pinpoint Weather team, nights this week will be clear enough to see the comet across the Front Range, although the mountains may block the view.
- The best time to view the comet is just after sunset. However, the comet is on the western horizon, which may make it harder to see because of the mountains.
- The comet will get higher as the days progress, but it will also get dimmer as it heads further and further from Earth.
- Peak viewing is on Saturday evening, but the nightly forecast over the weekend might make it hard to see. There will be clouds around on Friday and into Saturday, but they might clear up later Saturday.
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COLORADO BREWERIES WON DOZENS OF MEDALS AT THE GREAT AMERICAN BEER FESTIVAL
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A total of 35 Colorado brewers and cider-makers took home 41 medals at the Great American Beer Festival competition held in Denver this weekend. The nation’s largest beer festival drew thousands of people to the Colorado Convention Center in downtown over three days and nights where they could sample beers and ciders and discover which brewmasters took home awards. Beer and cider companies in Colorado won 15 gold medals, 12 silver medals and 14 bronze medals in the competition. The total topped recent years’ medal counts by local brewers and cider companies. Five breweries in the Denver area won multiple medals:
- The Bull & Bush Brewery, in Denver, took the top two medals in the wood-and-barrel-aged beer category, collecting gold and silver for the company’s “Temporary Paradise” and “Ghoul-Fuel” beverages.
- Downtown’s Denver Beer Co. won two gold medals, the only Colorado company to win multiple golds, for its “Fennel Rye Ale” in the field beer category and its “Coppermind” beer in the Irish-style red ale beer category.
- The River North Brewery, in Denver, landed gold and silver medals for its “Squirrels Just Want to Have Fun” coffee beer and its “Pumpkin Spice J. Marie” pumpkin beer.
- Golden’s Cannonball Creek Brewing Co.’s “More than a Zealand” beer won gold in the New Zealand-style India pale ale category while the brewery’s “Feather Weight Pale Ale” won a silver medal among American-style pale ales.
- Westbound and Down’s location in Lafayette earned gold and silver honors for the brewery’s “Infinity Pils” hoppy lager-style beer and “Don’t Hassle the Hef” South German Hefeweizen-style beer. The Westbound and Down brewery in Idaho Springs, west of the metro area, also took home a gold medal.
- Among the competition’s cideries, Western Colorado’s Snow Capped Cider, in Cedaredge, took home gold and silver medals in the no- or low-tannin cider category.
- The festival awarded 326 medals to top beers and ciders made by 273 companies that entered the competition. Entries came from every U.S. state and Washington, D.C. this year.
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MARKET UPDATE - 10/14/2024 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 10/10/2024)
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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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