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Colorado - Tue. 02/18/25 |
A Free Business Publication from Alpine Bank
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STRIKE AGAINST KING SOOPERS ENDS AS COMPANY & UNION RESUME TALKS
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King Soopers and union leaders agreed Monday to return to the bargaining table, ending a 12-day strike by more than 10,000 union members in metro Denver and Pueblo. Bargaining broke off when the union’s contracts with Kroger-owned King Soopers expired Jan. 17. The union launched a two-week walkout against 77 stores Feb. 6 and looked at scheduling more strike votes in other parts of the state. Pueblo employees went on strike the next day. Under the agreement ending the strike, King Soopers can’t lock out workers or implement any offer for at least 100 days. And the proposal rejected by union negotiators will no longer be considered the company’s “last, best and final offer.” A strike wasn’t called in Colorado Springs. But strike votes could be scheduled in other parts of the state, including at City Market stores in western Colorado. Kroger owns both King Soopers and City Market. UFCW Local 7 is also negotiating a new contract with Albertsons and Safeway.
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POWDERHORN SELLS TO UTAH SKI AREA OPERATOR
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Colorado’s Gart family and the ski industry pioneer Andy Daly have sold a majority interest in Powderhorn ski area on the Grand Mesa to Utah-based Pacific Group Resorts (PRGI). PRGI is chaired by Vern Greco, the former boss at Park City, Steamboat and Purgatory ski areas. The company hosts about 1 million skier visits a year at four resorts it owns in Maryland, Vancouver, Virginia and Vermont and a ski area it operates in New Hampshire. The company also runs golf courses, resort restaurants, recreation amenities and lodges.
A 2022 economic study by professors at Colorado Mesa University showed outdoor recreation businesses and visitors delivering a $321.6 million annual impact to Mesa County. That accounts for about 4.8 percent of the county’s overall economy, which is larger than the state’s outdoor recreation impact of 3.1 percent. Businesses catering to Mesa County’s outdoor recreation visitors employ about 6,500 people who earn $190.1 million a year.
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27,000 SANDHILL CRANES WILL MIGRATE THROUGH COLORADO THIS SPRING
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Upward of 27,000 greater and lesser sandhill cranes migrate through south-central Colorado between mid-February and mid-April, and they’ve been taking their spring break in the San Luis Valley for thousands of years — an extended layover of sorts, between their wintering grounds in New Mexico and cooler, northern locales. “They’re big, they’re beautiful, and they sound magnificent,” says award-winning author and Pulitzer Prize finalist Scott Weidensaul, who’s giving the keynote at this year’s 42nd annual Monte Vista Crane Festival, Friday, March 7 through Sunday, March 9. Sandhills congregate in large numbers on the Monte Vista National Wildlife Refuge. With a $30 general admission ticket, guests can view sandhills up close with local guides and attend a “Crane Basics” talk given by experts at the Ski Hi Event Center.
The crane festival coincides with another annual event, the Monte Vista Chamber of Commerce’s Crane Craft and Nature Fair, March 7-9, at the Outcalt Event and Conference Center inside the Ski Hi Complex. You’ll also catch cranes in Mosca, inside San Luis Lakes State Wildlife Area, and at the Great Sand Dunes National Park.
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WHEELER OPERA HOUSE OFFERS DIVERSE WINTER LINEUP
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The Wheeler Opera House is offering a diverse winter lineup featuring music, comedy, dance and mind-bending illusion. This week, the historic venue hosts a series of performances that promise to captivate audiences, from a genre-blending piano and dance collaboration to stand-up from a comedy legend, mesmerizing mentalism, and the irresistible rhythms of a Cuban son.
- Counterpoint: Conrad Tao & Caleb Teicher | Feb. 18 | 7 p.m.: Pianist Conrad Tao, an Aspen Music Festival & School alumnus, joins forces with acclaimed dancer-choreographer Caleb Teicher for Counterpoint, a genre-defying performance that seamlessly weaves together classical, jazz, and improvisational dance.
- Paul Reiser | Feb. 20 | 7 p.m.: Emmy-winning actor and comedian Paul Reiser brings his signature storytelling and razor-sharp wit to the Wheeler for one night only. Known for his roles in Mad About You, Stranger Things, The Kominsky Method, and Beverly Hills Cop: Axel F, Reiser has been named one of Comedy Central’s Top 100 Comedians of All Time.
- Colin Cloud: Mastermind | Feb. 21 | 7 p.m.: Mentalist Colin Cloud, dubbed the “Real-Life Sherlock Holmes,” delivers a mind-bending performance that blurs the line between illusion and reality. Cloud’s uncanny ability to read minds, predict choices, and manipulate outcomes has astonished audiences from Broadway to Las Vegas.
- Adonis Puentes & The Voice of Cuba Orchestra | Feb. 23 | 7:30 p.m.: The Wheeler transforms into a Havana-inspired dancehall as Adonis Puentes & The Voice of Cuba Orchestra take the stage. A celebrated sonero, Puentes is known for his rich vocals and modern take on traditional Cuban music, having performed at Lincoln Center and the Montreal Jazz Festival.
Tickets are available at the Wheeler box office, which also can be accessed by calling 970-920-5770 or visiting aspenshowtix.com. The box office, located at 320 E. Hyman Ave., is open Tuesday through Saturday from noon to 5 p.m. For more details on upcoming performances, visit wheeleroperahouse.com.
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VAIL PASS TO CLOSE TUESDAY FOR AVALANCHE MITIGATION
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Interstate 70 over Vail Pass will be closed to travelers starting at 9 a.m. Tuesday for winter maintenance operations, according to the Colorado Dept. of Transportation. The closure, from Exit 180 near Vail to Exit 195 near Copper Mountain, is expected to last three to five hours depending on weather conditions. Motorists are urged to plan for extra travel time or drive through the closure points before the designated closure time of 9 a.m. I-70 travelers are also being notified about continued severe weather and treacherous driving conditions. Motorists can expect icy and snow-packed roads, as well as heavy snow, strong winds, and low visibility and potential whiteout conditions at times. Natural avalanches have already been visible in the mountains — including one near Ten Mile Canyon Monday morning that did not reach the roadway.
Berthoud Pass underwent avalanche mitigation work Monday morning that caused debris to reach the roadway. Another avalanche swept over Loveland Pass over the weekend, trapping one vehicle on the evening of Feb. 14. The avalanche caused Hwy. 6 to close in both directions while crews cleared the scene and inspected the risk of additional slides. Hwy. 6 was reopened to traffic on Sunday. The weather conditions have already caused numerous closures, according to CDOT. Travelers should keep extra food, water, and warm clothing readily available and be prepared for lengthy delays in severe weather conditions. Visit CoTrip.org for the latest information on road closures and conditions. Visit the Colorado Avalanche Information Center’s website, Colorado.gov/avalanche, for avalanche forecasts.
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STATE OF THE RIVER MEETINGS RETURN THIS SPRING
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An April 22 State of the River meeting in Grand Junction is one of 11 that the Colorado River District is planning this spring. Each year the district holds State of the River meetings to discuss the most pressing water issues facing the region. The events are free and open to the public. They will cover topics such as river flow forecasts, local water projects and priorities, challenges impacting West Slope water users, and efforts to preserve the historic Shoshone hydroelectric power plant water rights on the Colorado River. Water experts will speak at each meeting and question-and-answer sessions also are planned. A free light dinner will be provided at each event. Registration is required.
The meetings will start at 6 p.m. with dinner and end around 8 p.m. The Grand Junction meeting will be held at the Meyer Ballroom at Colorado Mesa University, in partnership with CMU’s Ruth Powell Hutchins Water Center. Among other events in the region, a Lower Gunnison River meeting will be held in Montrose on March 17 and a White River meeting will be held April 2 in Rangely. To learn more about the meetings and to register, go to coloradoriverdistrict.org/state-of-the-river-meetings-2025.
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WESTERN COLORADO UNIVERSITY BRINGS OVER $150M TO GUNNISON COUNTY
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Western Colorado University, in the heart of Gunnison, is a public university that brings thousands of students into the valley each year. Western also employs hundreds of staff, administrators and professors, most of whom live, and spend their money, in the Gunnison Valley. In October 2024, researchers at the Leeds School of Business at University of Colorado Boulder released an economic impact study on the university’s financial contribution to Gunnison County between Western’s fiscal years of 2021 and 2023. Researchers also calculated the impact on the Gunnison region, which includes eight adjacent counties, and the state.
The study found that during those years, Western generated between $129 million to over $153 million within Gunnison County. Western supported an average of over 1,200 jobs per year in Colorado. Wages paid to employees generate tens of millions of dollars; in 2023, Western spent over $35 million. The same goes for capital projects and operating expenses. In 2023, Western spent over $28 million on operating expenses, up almost 20 percent from 2022. Capital expenses that year were much lower, at $4.9 million. In 2023, the university estimated that over 22,000 people visited campus, up nearly 5 percent from 2021. These visitors spent $2.4 million in 2023. But lodging also brought in millions. In 2023, visitors booked over 13,000 nights related to Western events, which translates to nearly $2.5 million in lodging revenue.
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STEAMBOAT'S 2024 SALES TAX REVENUE RISES ABOUT 2% FROM PREVIOUS YEAR
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The City of Steamboat Springs’ finalized December sales tax report showed a 2.74 percent revenue increase compared to the same month in 2023, with year-to-date collections through the last month of 2024 increasing by 1.98 percent compared to the year prior. Notable sales tax collection changes recorded in the finalized December report included an 11.63 percent increase in the city’s lodging category, a 3.44 percent increase in restaurants and a 3.13 percent increase in sales tax collections at grocery stores. December collections in the accommodations tax category were 11.8 percent higher compared to December 2023, with year-to-date collections through the end of December increasing 6.72 percent compared to the previous year.
Year-to-date short-term rental collections through December 2024 rose 68.86 percent compared to 2023. The sizable increase is related to the exemption during the fiscal 2023 year, where reservations booked on or prior to Dec. 31, 2022, for stays occurring between Jan. 1-April 15, 2023, were not subject to the STR tax. December 2024 building use tax collections rose 28.21 percent compared to December 2023, increasing by $36,191. Through the end of 2024, the city’s building use tax revenue increased 89.89 percent, or by roughly $3.6 million, compared to 2023. To learn more about city tax information, visit the Municipal Tax page at SteamboatSprings.net.
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COLORADO HAS "VERY HIGH" FLU ACTIVITY BUT NOT AS BAD AS THE REST OF THE COUNTRY
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The flu is widespread in Colorado, but the virus hasn’t hit the state nearly as hard as some others. Nationwide, confirmed flu hospitalizations and outpatient visits for flu-like illnesses both hit their highest levels since at least 2009. In California, hospitals have struggled with an influx of severely ill flu patients, and some parts of the country have reported seeing unusual complications, particularly in children. Colorado hospitals admitted 425 people for flu in the week ending Feb. 1, which was the busiest week for flu hospitalizations since at least fall 2019. Still, it isn’t as bad as the 2017-2018 flu season, state epidemiologist Dr. Rachel Herlihy said.
Flu hospitalizations appear to be rising, so Colorado may face more in the coming weeks, said Dr. Bob Belknap, executive director of the Public Health Institute at Denver Health. But nothing so far suggests hospital capacity will be a problem, he said. The Centers for Disease Control and Prevention estimated that about 29 million Americans have had the flu so far this season; 370,000 were sick enough to need hospital care; and 16,000 have died. The death total includes 68 children. One child in Colorado has died from flu since the season started in October. The state doesn’t track adult flu deaths.
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FORT LEWIS COLLEGE RECOGNIZED WITH CARNEGIE DESIGNATION AS RESEARCH INSTITUTE
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Fort Lewis College recently received a Research Colleges and Universities designation from the 2025 Carnegie Classifications of Institutes of Higher Education that recognized the school's growing investment in undergraduate research. The CCIHE is a framework used to describe and categorize institutions of higher education across the U.S. Classification is determined through levels of research activity, degree offerings and institutional missions. Prior to 2025, there were only two classifications for research universities, disqualifying schools without doctoral programs. The new category, “Research Colleges and Universities,” is awarded to institutions that spend at least $2.5 million a year on research and development, regardless of whether they offer doctoral programs.
In recent years, Fort Lewis has massively expanded its research portfolio. As of December 2024, the college had invested nearly $50 million in research, a 36 percent increase over 18 months. Research at Fort Lewis spans a wide range of topics, with more than 100 projects. For instance, the Thermal Hydraulics Lab, led by Billy Nollet, associate professor of Physics & Engineering. With the help of undergraduate students, Nollet’s lab develops instruments, pumps, filters and mechanical systems for liquid sodium cooling systems. FLC is one of only five universities engaged in this type of sodium research. Fort Lewis students have installed solar panels on the Navajo Nation, analyzed downtown transportation for Durango Transit, and investigated previously undocumented behaviors of regional plant and animal species.
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EXTENDED CLOSURE OF I-70 MONDAY MORNING CAUSED BY 11-VEHICLE CRASH INVOLVING FUEL SPILL, LIVESTOCK
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A crash involving 11 vehicles resulted in a hazmat response, Monday, Feb. 17, and led to an extended closure on Interstate 70 westbound near Idaho Springs, according to Colorado State Patrol. State troopers responded around 10:15 a.m. Monday to a report of a multiple-vehicle crash near Mile Post 231 in Clear Creek County. When troopers arrived, they found a total of 11 vehicles were involved in the crash, including two semi-trailers and a Ford F-350 hauling a livestock trailer.
The F-350 lost diesel fuel from an auxiliary tank in the crash, resulting in a hazmat response to clean up the estimated 80 gallons of fuel that was spilled. The driver of the F-350 was cited for careless driving as a result of driving too fast for conditions. First responders transported two people involved in the crash to local hospitals. The crash closed I-70 for several hours as the fuel and debris from the crash was cleaned up. No animals were injured.
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COLORADO SNOWPACK JUMPS 11% OVER PRESIDENTS' DAY WEEKEND
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After the long snowy weekend, Colorado snowfall totals ranged from just a few inches east of the Continental Divide to four feet in the West Elks and Elk mountains near Aspen/Snowmass and Crested Butte. More snow is on the way from Monday through Friday as the atmospheric river finally winds down at the end of the week, with the last week of February forecast to be mostly dry and sunny. Last Thursday, the state's snowpack was 82 percent of median average. That number jumped 11 percentage points in four days to 93 percent of median average. The snow water equivalent is at 10.5 inches, which is 0.8 inches below the median average of 11.3 inches for Feb. 17. Colorado's median snowpack is at 93 percent of average on Feb. 17, 2025.
Grand totals from Valentine's Day/Presidents' Day weekend storm (Fri., Sat., Sun., Mon.):
- Arapahoe Basin - (2, 10, 4, 7) = 23
- Aspen Highlands - (9, 11, 13, 4) = 37
- Aspen Mountain - (3, 8, 5, 2) = 18
- Beaver Creek - (3, 11, 8, 5) = 27
- Breckenridge - (0, 8, 9, 9) = 26
- Buttermilk - (3, 7, 5, 2) = 17
- Cooper - (3, 6, 7, 5) = 21
- Copper Mountain - (1, 8, 11, 9) = 29
- Crested Butte - (12, 16, 6, 3) = 37
- Echo Mountain - (0, 0, 1, 1) = 2
- Eldora Mountain - (0, 2, 3, 7) = 12
- Granby Ranch - (1, 0, 1, 4) = 6
- Howelsen Hill - (0, 4, 5, 7) = 16
- Kendall Mountain - (8, 6, 2, 1) = 17
- Keystone - (0, 9, 2, 8) = 19
- Loveland - (2, 8, 5, 12) = 27
- Monarch - (1, 6, 4, 4) = 15
- Powderhorn - (4, 5, 4, 0) = 13
- Purgatory - (15, 12, 6, 0) = 33
- Silverton - (14, 12, 9, 0) = 35
- Snowmass - (5, 9, 7, 2) = 23
- Steamboat - (8, 6, 6, 9) = 29
- Sunlight - (11, 5, 3, 5) = 24
- Telluride - (10, 8, 9, 0) = 27
- Vail - (4, 16, 11, 8) = 39
- Winter Park - (1, 6, 4, 9) = 20
- Wolf Creek - (6, 11, 1, 1) = 19
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MARKET UPDATE - 02/14/2025 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 02/13/2025)
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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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