|
Colorado - Fri. 11/08/24 |
A Free Business Publication from Alpine Bank
|
|
View in Browser
|
|
|
| |
REMINDER OF HOLIDAY CLOSURE: VETERANS DAY
|
| |
|
|
| |
|
All Alpine Bank branches will be closed in observance of Veterans Day on Monday, Nov. 11. We invite you to use Alpine Online or the Alpine Mobile app for 24/7 banking access, even when we are closed. Learn more at the link below.
|
| |
|
|
|
| |
POLIS DECLARES DISASTER EMERGENCY AS WINTER STORM BRINGS HEAVY SNOW
|
| |
|
|
| |
Gov. Jared Polis declared a weather-related disaster Thursday evening, authorizing the Colorado National Guard to step in and help residents impacted by the latest winter storm. More than two feet of snow could fall across the Front Range between Friday morning and Saturday, making travel dangerous, according to the National Weather Service. “The storm is expected to develop throughout the day, and this declaration is necessary to have resources in place to support rescue efforts around the state as the storm worsens into the evening,” a news release from the governor’s office states.
- Denver could see 3 to 7 inches of snowfall Friday, plus another 3 to 7 inches overnight, before the weather starts to warm Saturday.
- Metro Denver and the southern foothills will see 7 to 14 inches of snow starting Friday morning and continuing into Saturday, with the heaviest snowfall along Interstate 70 and to the south.
- “Travel will be impossible east and southeast of Denver,” National Weather Service forecasters said in a winter storm warning Thursday. “Do not travel or expect to travel in those locations through at least Saturday as heavy snow impacts will last long past this storm.”
- People living in rural areas of eastern Douglas, Elbert, Lincoln and southern Washington counties should prepare to be stranded for several days, NWS forecasters said. Historic snow accumulation is expected in Elbert and Lincoln counties, with snow reaching nearly 3 feet in some areas.
- Colorado Dept. of Transportation officials urged drivers to avoid traveling east of Interstate 25 and south of Interstate 76 to the New Mexico and Kansas state lines because of “treacherous, sustained adverse winter conditions.”
- CDOT officials expect “moderate to extreme impacts” throughout the eastern half of the state, with the most severe weather hitting the Eastern Plains and southern Colorado.
|
| |
|
|
|
| |
SWISS DRUG GIANT TO INVEST $500M IN LOCAL EXPANSION
|
| |
|
|
| |
|
The rising popularity of weight loss drugs is driving a record investment by a Swiss pharmaceutical company that plans to invest $500 million in an expansion of its Boulder facility. Switzerland-based CordenPharma earlier this year announced a "record investment" of $980 million will go toward its peptide platform production at facilities in the U.S. and in Europe. More than half of that, about $500 million, will be spent in Boulder. The expansion entails two main projects to bolster the company's manufacturing capabilities for making GLP-1 peptides, which go into medications that help to treat obesity and diabetes. The GLP-1 drug that has garnered most headlines this year is Ozempic. At full build-out, CordenPharma will have added 170 new jobs to its current local force of 630. The company has 11 manufacturing facilities and 3,000 employees across Europe and North America.
|
| |
|
|
|
| |
COSTCO NOT COMING TO GJ
|
| |
|
|
| |
|
Wholesale retailer Costco is no longer planning to build a store in Grand Junction. Costco had been slated as the anchor tenant on a development at the northeast corner of I-70 and 24 Road. “Costco on Tuesday decided that they can’t move forward with the project at this time,” City Council Member Anna Stout said. The City of Grand Junction had planned to forego $12.3 million in sales tax generated by the store after opening in order for the developer to build the infrastructure on the site. Stout said the developer, Goldberg Properties, told the city that changing financial conditions have made the project no longer viable at this time. Stout said Costco still likes Grand Junction as a market, so the chain could potentially switch gears and again make plans to come to Grand Junction in the future. But any future deal is on hold for now. Stout said there is another large retailer interested in the site, but she has not been told the identity of that retailer.
|
| |
|
|
|
| |
UTE MOUNTAIN UTE TRIBE AWARDED $9.6 MILLION GRANT FOR LAND MANAGEMENT IMPROVEMENTS
|
| |
|
|
| |
|
The Ute Mountain Ute Tribe was awarded a $9.6 million grant from the Natural Resource Conservation Service to fund projects that aid in efforts to deal with “prolonged drought conditions and severely limited water supply.” The grant will help modernize the tribe’s irrigation systems, improve water usage and efficiency while aiding in the process of creating strategies to promote drought resiliency. “When completed, the system improvements funded by the grant will enhance irrigation efficiency by a projected 32 percent, increase access to water and support UMUT farming and ranching operations,” a press release stated. The strategies and practices implemented with the help of this grant will also improve the lives of tribal members, the grant continued and ensure a water supply that is reliable and able to “sustain the economic viability of the Farm and Ranch Enterprise’s Tribal ranches.”
|
| |
|
|
|
| |
EAGLE COUNTY REAL ESTATE MARKET IS POINTED TO HIT THE $3 BILLION MARK IN SALES IN 2024
|
| |
|
|
| |
While Eagle County’s real estate market has slowed from the land-rush days of 2021 and 2022, the market is still headed toward its third consecutive year of more than $3 billion in sales. This year’s sales and dollar volume through the end of September are on a similar track to numbers posted in 2023, which marked a slowdown from the fast-paced markets of 2021 and 2022. By the numbers from Land Title Guarantee Co.:
- 1,118: Eagle County real estate transactions through Sept. 30
- $2.279 billion: Dollar value of those transactions
- 17: Transactions through Sept. 30 priced under $500,000
- 74: Transactions through Sept. 30 priced over $5 million
The current inventory in the county’s Multiple Listing Service is in the high 300s to low 400s, representing just more than four months of inventory. Conventional wisdom holds that six months of inventory is “balanced” between a buyer’s and seller’s market.
|
| |
|
|
|
| |
AVALANCHE DANGER MOVES TO MODERATE THROUGHOUT MOST OF COLORADO
|
| |
|
|
| |
|
Amid a snowy start to November, avalanche danger throughout most of Colorado has risen to moderate. The Colorado Avalanche Information Center wrote in its forecast for the northern mountain region this week that wind slab avalanches are the driving danger. There are subtle differences throughout the region, which includes the Steamboat Springs area, Rocky Mountain National Park, the Front Range and Summit and Eagle counties. Backcountry travelers should keep an eye out for areas of deeper snow with bare patches close by or corniced ridges indicating where wind has loaded snow. On safe slopes, it is suggested backcountry travelers probe into the snow to feel for the firm snow over weaker snow. In the Tenmile Range in Summit County, as much as 20 inches of snow fell Sunday night. The forecast states that the distribution of avalanches is also expected to become more widespread with the added snow. For the full avalanche forecast, visit Avalanche.State.co.us.
|
| |
|
|
|
| |
CLEAN-CAR SALES JUMP 10% IN COLORADO
|
| |
|
|
| |
Clean-car sales made up 38 percent of all Colorado passenger and light truck registrations in the third quarter of 2024, a big jump from previous levels. Fully electric vehicle sales jumped to 21.9 percent of total sales in the third quarter, up from 16.1 percent in the spring quarter. In the first nine months this year, the three cleaner-vehicle categories made up 33.4 percent of total sales, up from 23.7 percent in the first nine months of 2023. State officials say new EV buyers who qualify by income for all the incentives at once can lop $26,500 off the sale at the point of purchase. Many models are also eligible for a $7,500 federal tax credit, and $4,000 for used vehicles.
Colorado has a cash-for-clunkers program for income-qualified buyers, with another $6,000 off a new EV if they turn in a vehicle that is at least 12 years old or has failed an emissions test. Xcel offers an income-qualified $5,500 rebate on new EVs, and $3,000 for used. The deals have pushed up clean-vehicle market share in Colorado for Nissan, Hyundai and Kia. Nissan sold or leased 5,666 EVs in the first nine months of 2024, up from 882 the year before. Tesla, with a big head start on the EV field, remains the leading nameplate in Colorado and most states, with registrations of 8,545 cars so far in 2024.
|
| |
|
|
|
| |
HUGE HOLIDAY DRONE SHOWS WILL FILL DENVER SKY FOR 40 NIGHTS
|
| |
|
|
| |
Starting Nov. 22, a sprawling drone show will light up Denver skies each night with holiday- and sports-themed animations that can be seen throughout most of downtown. The 40 nights of free shows will take place at 7 p.m., with special shows on Monday, Dec. 2, prior to the Denver Broncos Monday Night Football game; on Wednesday, Dec. 25, prior to the Denver Nuggets Christmas Day game; and on Tuesday, Dec. 31, before the Colorado Avalanche New Year’s Eve match. The free shows are massive, with 400 drones in the air at a height of 400 feet, and a width of 500 feet. They’ll be hovering over the sports fields at Metropolitan State University of Denver — just in case one of them decides to stop working. Visit Denver recommended several spots to watch the 15-minute shows, including:
- Sculpture Park at the Denver Performing Arts Complex
- The Ball Arena parking lot (you can also see the show before Denver Nuggets and Colorado Avalanche games)
- The 54thirty Rooftop at the Le Méridien Denver Downtown
- Peaks Lounge at Hyatt Regency Denver at Colorado Convention Center
- The terrace at Denver Art Museum’s Lanny & Sharon Martin Building
|
| |
|
|
|
| |
10 ICONIC PLACES IN COLORADO TO HAVE A DRINK
|
| |
|
|
| |
From the rowdy saloons of the 1850s to the roaring post-Prohibition days in the 1930s and ’40s to the craft brews and $25 cocktails of the moment, Colorado history has paired up with drinking culture in the same way that gin goes with tonic or beer goes with a burger. But not all watering holes are created equal. A few of the most legendary spots in Colorado to have a drink:
- The Columbine Cafe, in Golden, has been serving Coors beers since 1934. Today, it is run by Chris Artemis, the third generation of the family-owned watering hole. 15630 S. Golden Road; facebook.com/ColumbineCafe
- The Cruise Room, in Denver, opened the day after Prohibition was repealed in 1933. The Art Deco bar is in the historic Oxford Hotel, and it features a long and narrow layout with slick booths on one side and a gleaming, neon-lit bar on the other. 1600 17th St., Denver; theoxfordhotel.com/eat-drink/the-cruise-room
- Flagstaff House, in Boulder, has a patio that feels as if it’s on the roof of the world. Perched on Flagstaff Mountain, just to the west of Boulder, Flagstaff House, owned and run by the Monette family since 1971, is a fine-dining destination known for elevated food, an award-winning wine list and breathtaking views. 1138 Flagstaff Road, Boulder; flagstaffhouse.com
- Gray’s Coors Tavern, in Pueblo, has walls covered in Denver Broncos memorabilia from at least seven different decades and photos of Gray’s beginnings in 1934. You’ll find the perfect pairing for your Coors beer: an open-faced, double cheeseburger smothered in green chile, known affectionately as a Slopper. 515 W. 4th St., Pueblo; facebook.com/grayscoorstavern
- Minturn Saloon is holed up alongside the Eagle River, and with its predecessor bars at the same address, has been serving drinks in the Vail Valley since 1901. The beautiful backbar itself was built in the 1830s and spent time in Leadville before being hauled down the mountain. 146 Main St., Minturn; minturnsaloon.com
- My Brother’s Bar, in Denver, has been around for 150 years. A watering hole since the 1870s, the building has been home to My Brother’s Bar since 1970, when the Karagas brothers moved to town and took it over. It’s now owned by local preservationist Danny Newman, who has kept the legacy alive. The bar is also one of several where Beat Generation writer Neal Cassady spent time while he lived in Denver. 2375 15th St., Denver; mybrothersbar.com
- Oskar Blues Grill & Brew, in Lyons, was a raucous Cajun restaurant founded in 1997 by a homebrew-loving Alabaman. But Dale Katechis was also bold, and in 2002, he did something no one could believe: he started canning craft beer and built his business into one of the 10 largest craft breweries in the country. Katechis eventually sold the brewery, but he kept the restaurants. 303 Main St., Lyons; oskarbluesfooderies.com
- Silver Dollar Saloon in Leadville, is 10,120 feet above sea level, and resides in a building with a 150-year history (it has been a bar for nearly that long.) Many guests, like the 10th Mountain Division soldiers (who trained just down the road at Camp Hale), gunslinger Doc Holliday, and the miners, prospectors and Prohibition-era lawbreakers enjoyed a drink here. 315 Harrison Ave., Leadville; legendarysilverdollarsaloon.com
- Woody Creek Tavern, just outside of Aspen, is where author Hunter S. Thompson hung out. Stop in to peruse the celebrity photos and memorabilia on the walls, drink a bloody Mary and offer up a toast to Raoul Duke and Dr. Gonzo. 2858 Upper River Road, Woody Creek; woodycreektavern.com
- Wynkoop Brewing opened in Denver in 1988, across from Union Station and down the street from Coors Field. The Wynkoop is now a courtly grandfather among rowdy teenagers, but it’s also the only place you can find a beer made from Rocky Mountain oysters. 1634 18th St, Denver; wynkoop.com
|
| |
|
|
|
|
|
| |
|
MARKET UPDATE - 11/07/2024 Close
|
| |
|
(Courtesy of Alpine Bank Wealth Management*)
|
| |
|
Canadian dollar (per U.S. dollar)
|
| |
|
|
|
|
Mexican peso (per U.S. dollar)
|
| |
|
|
|
|
30-year fixed mortgage rate (Freddie Mac 11/07/2024)
|
| |
|
|
|
|
|
*Not FDIC insured. May lose value. Not guaranteed by the bank.
|
| |
|
| |
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.
|
| |
|
|
| |
| Make changes to your subscription or unsubscribe here. |
| © 2025 Alpine Bank. |
| |
|
|
