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Colorado - Fri. 12/06/24 |
A Free Business Publication from Alpine Bank
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COLORADO MOVES TO TOP SPOT IN NEW EV SALES
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Electric vehicles made up 25.3 percent of new vehicles sold in Colorado in the third quarter, according to a recent report by the Northeast States for Coordinated Air Use Management. California was second with electric vehicles accounting for 24.3 percent of new car sales in the state. In Colorado, 82 percent of EVs sold were full electric vehicles and 18 percent were plug-in hybrid electric vehicles. The state’s plan for cutting greenhouse gas emissions and addressing the effects of climate change set a goal of having at least 940,000 electric vehicles on the roads by 2030. There were nearly 73,000 EVs on the road in Colorado in January 2023, or about 7.86 percent of all the vehicles. A report released in October by the Colorado Automobile Dealers Association, said Colorado was second nationwide in EV sales for the first nine months of this year.
- Coloradans are eligible for a $5,000 state tax credit for a new EV — battery electric and plug-in hybrid electric — with a manufacturer’s suggested retail price under $80,000, and an additional $2,500 for EVs with a suggested retail price under $35,000. The $5,000 state tax credit is available through the end of this year. It drops to $3,500 starting in 2025.
- Income-qualified Coloradans exchanging an eligible old or high-emitting vehicle can also take advantage of a $6,000 rebate through the Vehicle Exchange Colorado program for a new EV purchase or lease and a $4,000 rebate for a used EV purchase or lease.
- Coloradans might also be eligible for a $7,500 federal tax credit for a new EV lease, and for the purchase of certain EV models that meet specific manufacturing requirements. A $4,000 federal tax credit is available for used EV purchases and leases.
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PARADE OF LIGHTS RETURNS FOR 50TH YEAR IN DOWNTOWN DENVER
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The 9NEWS Parade of Lights will celebrate its 50th anniversary on Saturday in downtown Denver at 6 p.m. The Colorado holiday tradition dates back to 1975 and has grown into the largest and most-watched parade in the Rocky Mountain region. The holiday parade, which is free to attend, will have more than 40 illuminated floats, helium-filled character balloons, marching bands, equestrian units, cultural entries and a special appearance from Santa Claus.
The parade will begin in front of the Denver City and County Building before traveling through downtown Denver on a two-mile parade route. The parade then travels up Tremont Street to 17th Street where it then goes northwest for several blocks before turning onto Arapahoe Street. Finally, the parade loops back on 15th Street to Glenarm. A limited number of grandstand tickets can be found on the Parade of Lights website. The 9NEWS Parade of Lights will air Saturday, Dec. 7, at 6 p.m. live on 9NEWS, the 9NEWS+ streaming app — for Fire TV, Roku and Apple TV — as well as on 9NEWS.com and the 9NEWS mobile app.
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DENVER CEO & EX-PRO ATHLETE TAPPED TO LEAD X GAMES
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Jeremy Bloom, a CEO, Olympic freestyle skier, former University of Colorado football player and NFL wide receiver, will lead the Denver-based action sports company X Games as it prepares to host its Winter Games at Aspen-Snowmass Jan. 23-25. The X Games aims to strengthen athlete engagement, global expansion, fan experience and community outreach as it creates a league structure under Bloom’s leadership, the company said. In 2022, MSP Sports Capital acquired majority ownership of X Games and introduced a new team-based format that is slated to start in 2026.
The X-Games League will transition the sporting competitions to a league structure with year-round, international competitions and teams composed of athletes competing individually and on teams to earn prize money. The change will allow athletes to earn compensation “well beyond” the $2.4 million awarded through existing prize purses. The X Games has had a 113 percent increase in streaming audiences and added 2.4 million social media followers since MSP acquired the action sports company.
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SKI COOPER SET TO OPEN WITH $45 LIFT TICKETS
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Ski Cooper, near Leadville, kicks off its season Dec. 11 on what will be the first day of a new deal: $45 lift tickets Mondays through Thursdays, whether one buys online in advance or at the window. That'll be the weekday price for adults ages 22-74. The ticket is $40 for skiers and riders ages 15-21, and $35 for those 6-14. The deal excludes holidays and spring break. No longer will visitors be able to score the $30 Thursday special Cooper has offered over the years. "But this offer is four days a week instead of one," said Dana Johnson, the ski area's director of marketing and sales. "So instead of Thursdays when Thursdays are packed, we're hoping this will spread people out Monday through Thursday." Of course, operators are hoping a family might pick every day in a week-long outing. Four days of skiing is now $180, down from closer to $380 previously. The price aims to entice both newcomers and regulars, whether they plan ahead or head out on a whim.
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TOURS OF THE GOVERNOR'S RESIDENCE IN DENVER THIS WEEKEND
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Those wanting to see the 116-year-old Governor's Residence in Denver and its collection of holiday inspired decorations will be able to do so this weekend as Gov. Polis opens the residence up for its annual holiday tours. Free tours will be provided of the Boettcher Mansion, at 400 E. 8th Ave., from 10 a.m. to noon Friday and from 10 a.m. to 2 p.m. Saturday. While Gov. Polis doesn't actually reside at the residence, the mansion has been provided to the elected governor since 1960. Gov. Stephen McNichols was the first to live in the mansion in 1961. Initially, the mansion was built in 1908 by Walter Cheesman. It was then sold to Claude K. Boettcher in 1923. After Boettcher's death in 1957, the 27-room home was offered to the State of Colorado as a governor’s residence. Despite no longer acting as the actual home of the governor, it remains a location for historical tours and during the holiday season, it is dressed up with grandeur decorations and lights.
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STUDENTS & YOUNG ADULTS CAN BOOK $25 HOLIDAY FLIGHTS WITH AMAZON PRIME
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As college students prepare for end-of-semester exams, many are also packing their bags to spend the winter holidays with their families. Flights aren’t cheap, especially when squeezed into a student’s tight budget. Airline fares were up 4.1 percent in October 2024 compared to the same month in 2023. If you plan on flying home for the holidays and haven’t booked your ticket yet, you may be in luck:
- Amazon has partnered with StudentUniverse, an online travel agency specializing in discount student and young adult travel, to offer Prime Young Adult members a limited number of $25 flights to and from home this holiday season.
- With this promotion, Prime Young Adult members will have the opportunity to book one round trip or one-way domestic ticket through StudentUniverse for just $25.
- This promotion will run from Dec. 9, through Dec. 13, 2024, with a total of 5,000 $25 flight tickets up for grabs across the five days.
- Bookings and full terms and conditions are available via the Prime Young Adult x StudentUniverse page.
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OUTDOOR APPAREL RETAILER HALFDAYS OPENS FLAGSHIP STORE IN DENVER
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Olympian-founded and woman-owned outdoor apparel retailer Halfdays opened its first brick-and-mortar store in Denver’s RiNo neighborhood on Wednesday. The store, at 2609 Walnut St., will offer an extensive selection of outdoor apparel, including its new Winter 2024 collection, which features snow jackets, insulated ski sets, wool and bamboo base layers, as well as accessories like beanies, socks and neck warmers.
“We started Halfdays with the mission to introduce more women to the outdoors, and our hope is that our retail space creates a welcoming environment where customers can have fun while finding the perfect fit,” said Halfdays co-founder and former Olympic Skier Kiley McKinnon. Until the store opening, Halfdays had been selling its products online and in stores such as Nordstrom, REI and Bloomingdale’s. Founded in the fall of 2020, the Colorado-based retailer was created to offer women a better option for ski apparel after McKinnon competed in men’s ski wear at the 2018 Winter Olympics.
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GJ CITY COUNCIL PASSES $359.1 MILLION 2025 BUDGET
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Grand Junction City Council approved a $359.1 million 2025 budget Wednesday, in a 6-1 vote. According to Interim City Manager Andrea Phillips, the budget includes $185 million for operations, $158.4 million in capital projects and $15.3 million in debt service. That figure represents a $36.6 increase over the 2024 budget, with $16.9 million more in capital, $13.2 million more in operations and $6.5 million more in debt service. The capital budget is largely taken up by the construction of the recreation center at Matchett Park and expansion of the Persigo Wastewater Treatment Plant. The budget includes 880 full-time equivalent employees, the bulk of which are in the fire and police departments. Phillips said the projected surplus in the general fund has been raised from $80,000 or $90,000 to $114,000 at council direction by stopping paying dues to some organizations of which the city had been a member.
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ENSTROM CANDIES WINS ICE CREAM AWARDS
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Grand Junction candymaker Enstrom Candies recently received two awards from the North American Ice Cream Association (NAICA). Enstrom Candies won awards for its dark chocolate and fresh strawberry ice creams. “We are incredibly proud of our team at Enstrom Candies,” said Doug Simons, president of Enstrom Candies. Since 2018, Enstrom Candies has been a regular attendee at NAICA events. This year’s convention was held in Savannah, Georgia. For a candy company known for its famous almond toffee, the move into quality ice cream has paid off. “Our team works hard to create flavors that are not just tasty but unforgettable. Receiving multiple awards from the North American Ice Cream Association is a great honor,” said Trisha Russell, Ice Cream Department Lead. “These awards inspire us to keep pushing the limits of what ice cream can be, driving our passion to make the best ice cream in the industry.”
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DURANGO-AREA PUBLIC LAND CLOSURES TO PROTECT WILDLIFE
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Colorado Parks and Wildlife has closed two state wildlife areas near Durango to protect the wildlife that inhabit the areas during the calorie-lean winter months. The Bodo State Wildlife Area and Perins Peak State Wildlife Area both closed Dec. 1 and will remain closed through April 30. Areas east of County Road 208 remain closed through July 31. Contrary to what some believe, the closures are not in place to protect muddy trails from damage – a notion that can lead people to ignore the closures during dry stretches. The agency uses both wildlife officers and cameras to enforce the closures. People who are caught entering closed zones are subject to a fine of $139.50. In addition to the CPW closures, the Bureau of Land Management has similar regulations in place on lands near Durango. An interactive map of all closures can be viewed at bit.ly/3Bbj3mJ.
BLM closures include:
- Big Canyon and Sale Barn trailheads off U.S. Hwy. 160 are closed to all public use
- South Rim trail, including portions of Sidewinder and Cowboy trails on BLM property accessed from Carbon Junction trail or Crites Connection
- Grandview BLM trails accessed from Three Springs
- Animas City Mountain upper loop trails
- The city of Durango has also closed all upper trails as marked in the Twin Buttes open-space area and Durango Mesa Park Downhill Trails to minimize damage to the trails
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VAIL MTN. OPENS SUN UP, SUN DOWN BOWLS
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Vail Mountain began running Chairs 5 and 17 on Thursday, offering access to Sun Up and Sun Down Bowls in their earliest opening since the 2018-19 season. Vail Mountain now offers more than 2,000 acres of skiing and snowboarding, boasting a 35-inch base with 84 inches of cumulative snowfall this season. Mountain officials said more terrain openings are expected to occur soon as crews are currently assessing terrain across the resort’s five other Back Bowls - Tea Cup, China, Siberia, and Inner and Outer Mongolia Bowls. Vail Resorts officials also confirmed that access to Beaver Creek’s Birds of Prey race venue will be available for the men’s World Cup races that are set to begin on Friday. Skiers and snowboarders can take the Red Tail and Dally runs to access the venue and will be able to use Chair 9 to exit. The lift will be running from 10 a.m. to 3 p.m. during the Birds of Prey race weekend, which runs through Sunday.
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WANT TO AVOID AVALANCHE TERRAIN IN COLORADO'S MOUNTAINS THIS WINTER? THERE'S AN APP FOR THAT
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Every year avalanches take the lives of people exploring Colorado’s backcountry. That’s why Colorado Parks and Wildlife and the Colorado Avalanche Information Center have teamed up to help spread avalanche awareness to those exploring the state’s popular trails and backcountry areas using the Colorado Trail Explorer, or COTREX, mobile app offering avalanche forecasts and warnings to those using the app to explore the state’s trails. Many of those who are caught in avalanches are skiers, snowboarders and snowmobilers who know that slides are an inherent risk in the backcountry and have sought avalanche training to learn to manage that risk. But there are also cases where hikers, snowshoers and other recreationalists have unknowingly wandered into avalanche terrain without the proper gear or training.
- On average, 28 people die each year in the U.S. from suffocation, trauma or hypothermia caused by an avalanche.
- A Colorado Avalanche Information Center study found that Colorado has had twice as many avalanche deaths compared to any other state since 1950.
- During the 2023-24 season, the Colorado Avalanche Information Center recorded over 5,600 avalanches that resulted in 148 people being caught, 59 being buried, 13 being injured and two being killed.
The COTREX app now puts the Colorado Avalanche Information Center’s forecasts and warnings front and center for users who are trying to find a trail to explore by displaying the forecast when a trailhead is clicked on. Still, COTREX is not a standalone source of information for backcountry travel and avalanche information, according to the news release. Anyone heading out to hike, snowshoe or tour on Colorado trails this winter should check the avalanche forecast at Colorado.gov/avalanche and ensure they have the proper training and gear for the task at hand.
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ESSENTIALS FOR TRAVELING IN COLORADO'S BACKCOUNTRY
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Backcountry experts recommend that anyone traveling in the Colorado backcountry carry the following items:
- Navigation — Map (for your area) and compass, GPS and extra batteries or charger
- Signaling — Whistle, mirror, cell phone, surveyor tape
- Light source (two) — Headlamp, flashlight, extra batteries for both
- Nourishment — Water and high-energy food for 24-48 hours
- Shelter — Waterproof tarp, bivy sack, parachute cord
- Fire building — Waterproof matches or lighter, heat tabs, knife
- Personal aid — First-aid kit with medications, sunscreen, dark glasses, bug repellant
- Weather protection — Extra socks, warm gloves, rain gear, hat, bug net
- Winter extras — Avalanche transceiver, probe, shovel with metal blade
- Rules to follow — Always leave a schedule and trip plan with someone at home, stay on the trail, wait for search and rescue if you become lost
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10 U.S. CITIES WHERE SALARIES ARE GROWING THE FASTEST
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Nationwide, the median household income grew just 4 percent between 2022 and 2023, according to the latest U.S. Census Bureau estimates. While that’s a relatively big jump compared with the last several years, some areas of the country saw much larger increases. In Pine Hills, Florida, a suburb of Orlando, the median household income grew a whopping 65 percent between 2022 and 2023, according to a SmartAsset analysis of Census Bureau data. That’s the biggest growth rate in median income across U.S. cities with populations of at least 65,000. SmartAsset analyzed data for 636 cities to determine where earnings grew the most. Here are the 10 cities that saw the fastest income growth between 2022 and 2023:
- Pine Hills, Florida: +65.1 percent
- Apple Valley town, California: +37.3 percent
- Kissimmee, Florida: +33.1 percent
- Davis, California: +32.7 percent
- Tulare, California: +32.7 percent
- Clearwater, Florida: +29.6 percent
- Avondale, Arizona: +29.4 percent
- East Orange, New Jersey: +29.3 percent
- Davenport, Iowa: +27.4 percent
- Walnut Creek, California: +27.0 percent
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MARKET UPDATE - 12/05/2024 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 12/05/2024)
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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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