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Colorado - Wed. 04/30/25 |
A Free Business Publication from Alpine Bank
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TWO SKI-TOWN BREWERIES & A DISTILLERY TAKING FORMER GOVNR'S PARK SPACE
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Two mountain town breweries and a distillery will join forces for a new taproom taking over the former Govnr’s Park space next to the Carboy Winery taproom, just off East 7th Ave. in Denver. When it opens on May 12, Après at Govnr’s Park will feature beers from Summit County’s Broken Compass Brewing and Steamboat’s Storm Peak Brewing, as well as spirits from Breckenridge Distillery and Carboy. Après will have 12 big-screen TVs for Broncos, Nuggets and Avs games. Once Après opens, Carboy’s existing concept, a Mexican restaurant called Pancho Poncho, will close.
The biggest focus will be on a “value-driven” menu, including a $13 burger, rare in the city these days. One of the goals is to give people who live in the neighborhood a place with a similar feel to Govnr’s Park, the legendary bar and restaurant that ruled the corner of 7th and Logan Street for four decades before closing in 2018 and becoming Logan Street Restaurant & Bar and later Pancho Poncho. Après at Govnr’s Park will host a grand opening party on June 7.
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COLORADO TRAFFIC FATALITIES DOWN AS NEW DRIVING LAWS TAKE EFFECT
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Colorado traffic fatalities have decreased by 21 percent compared to last year as new laws intended to promote safer driving have taken effect. As of mid-April, Colorado has seen 130 people die from traffic-related incidents, down from 164 at this time last year. The decline comes on the heels of a 5 percent decrease in traffic fatalities from 2023 to 2024. The state introduced several new laws this year aimed at promoting safer travel, including those prohibiting drivers from using handheld phones while driving and making seat belts mandatory for drivers under the age of 18.
Law enforcement and CDOT also increased their attention on drivers weaving in and out of express lanes, which now results in a fine of at least $75. There has also been a 22 percent decrease in deaths involving distracted drivers and a 26 percent decrease in fatal crashes involving speeding drivers. El Paso, Adams, Weld, Pueblo, Arapahoe, Jefferson, Larimer and Boulder counties have all seen significant decreases in driving deaths since this time last year. Denver County currently has 15 traffic-related fatalities this year, the same amount it had at this time last year.
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UPS TO CUT 20,000 JOBS AFTER AMAZON BREAKUP
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United Parcel Service is cutting 20,000 operational positions this year, moving to slash expenses after parting ways with Amazon.com, its biggest customer. UPS, which has nearly 490,000 employees, has been looking to shrink its operations after deciding in January to reduce the number of packages it delivers for Amazon. The e-commerce giant accounted for about 12 percent of UPS’s revenue. UPS also expects to close 73 leased and owned buildings this year. Last year, it closed 11 buildings and cut 12,000 jobs, mainly managerial roles.
Executives at the delivery company said it is going to be less dependent on labor, which includes adding automation to its facilities including label application, as well as loading and unloading trailers. The company said it expects to record between $400 million and $600 million in restructuring expenses during 2025. For the first quarter, UPS recorded net income of $1.19 billion on revenue of $21.5 billion, results that were better than Wall Street’s expectations.
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NEW ENGLISH IN ACTION BUILDING TO OPEN THIS SUMMER
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As English in Action gets closer to move-in day on its new, expanded facility in El Jebel, officials are looking forward to a 200 percent anticipated increase in programming. The new center will be a 6,000 square foot, all-electric, one-story building with multiple study and meeting rooms, offices and a family space, nearly triple the size of their former 1,800 square foot modular building. English in Action is an Eagle County-based nonprofit that teaches adult English learners language and digital skills. It became an independent nonprofit in 2008, but its roots trace back to a 1994 Basalt Regional Library program that paired English-speakers with immigrants looking to improve their communication skills. EIA offers a six-month individual tutoring program, open hours, small group tutoring, digital equity and literacy programs and more.
In 2024, EIA served 400 learners from 23 countries with the help of 291 tutors. Since 1994, EIA has worked with around 2,750 learners. Development Director Heather Hicks Stumpf said they anticipate moving into the new center in mid-July. EIA engaged in a three-year capital fundraising campaign for the project, which they met in January with $5 million raised and $500,000 in in-kind donations. Hicks Stumpf said they had 430 individual donors, 52 percent of whom had a past or current role as a tutor or learner. Crawford Properties donated a 50-year free land lease to EIA for the 1-acre parcel on which the building sits. Landscape Workshop donated landscaping services, the nearby Eagle Crest Nursery donated plants and Alpine Valley Services donated cleaning services.
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COLORADO CREATIVE INDUSTRIES SUMMIT IN GJ, MAY 1-2
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The Colorado Creative Industries Summit will take place at the Grand Junction Convention Center on Thursday and Friday, May 1-2, recognizing cultural workers, creatives, artists and industry leaders statewide. The two-day event includes exhibits, performances, networking opportunities, speakers, classes and workshops. The Friday luncheon will be an awards luncheon for the Governor’s Creative Leadership winners.
Among the winners are Cindy and David Starr of Cedaredge, who will receive the Arts and Creative Placemaking Award for artists who envision new futures through activities like activating a public space, animating a community or sparking redevelopment. Cindy created the Grand Mesa Arts and Events Center (GMAEC), which opened in June 2018. The GMAEC has grown into a campus after renovating a nearby auto repair garage into art and pottery studios. David is a professional musician and guitar store owner. He created an outdoor music venue in 2020 with a capacity of 400 people that hosts concerts every Friday night in the summer. A full schedule can be found at oedit.colorado.gov/colorado-creative-industries-summit.
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CPW TAKING ACTION, PREPS FOR SUMMER BOATING SEASON
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Colorado Parks and Wildlife is set to utilize new gear and watercraft cleaning stations as it continues its ongoing battle to keep invasive species from spreading in the state’s lakes and reservoirs. There will be 21 cleaning stations around the state including three in Mesa County: Mack Mesa Lake in Highland State Park, Corn Lake and the Loma Boat Launch on the Colorado River. Aquatic Nuisance Species (ANS) kept the agency and its staff and inspectors busy in 2024 conducting 463,710 inspections and decontaminating 32,584 boats suspected of carrying mussels, other aquatic invasive species or standing water. CPW also intercepted 110 boats carrying invasive mussels last year as they were set to enter state-managed waters.
CPW is currently promoting its “Be a Pain in the ANS!” program to raise awareness to the ANS issue and the potential impact of invasive species in Colorado’s water. Mussels are destructive to aquatic habitat, can seriously damage reservoir infrastructure and cause problems on boats. Contaminated boats usually come into Colorado from neighboring states, especially Utah and Arizona because of the proximity to Lake Powell, which has been mussel-infested for years. Neighboring states with mussel infestations include Kansas, Nebraska, Oklahoma, Texas and South Dakota. To make the fight against ANS easier, CPW has been adding new gear and watercraft cleaning stations in key locations around the state. The public is encouraged to use these stations to decontaminate their gear and protect Colorado’s waters.
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BLM RESTORES SIGNIFICANT WATER RIGHT NORTH OF SILVERTON
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The Bureau of Land Management is restoring up to 11 cubic feet per second of water previously diverted to the Uncompahgre River Basin back to the headwaters of the Animas River north of Silverton. That’s a win for fish, other aquatic wildlife and mining remediation, said Trout Unlimited’s Mining Coordinator Ty Churchwell, because the water will dilute heavy metals to less toxic concentrations. Both the national organization of Trout Unlimited and the local Five Rivers chapter provided financial assistance with the acquisition. The 11-cubic-foot diversion is about 10 percent of the river’s total current flows in Silverton before the confluence with Cement Creek. The previous owner held the rights to divert the water through the Mineral Point Ditch – before it entered Burrows Creek – over into the Uncompahgre Basin for agricultural use. This resulted in a 100 percent depletion of that water from the Animas River.
The BLM paid $297,000, fair market value, to buy the water right from a willing seller, using funding from the Land and Water Conservation Fund and the agency’s Abandoned Mine Lands program to acquire the right. Although the BLM is not required to keep the water in-stream in perpetuity, the agency is prohibited from selling the right to other parties. The Colorado Water Conservation Board has indicated it will accept an offer from the BLM to lease the water right in perpetuity to the state for in-stream flow purposes.
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MALACINSKI FILM SCREENING IN STEAMBOAT MAY 4
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Nordic Combined USA and Glimpse Films have announced the release of “Annika — Where She Lands.” The short film is set to be shown from 5 to 6 p.m. on Sunday, May 4 at Wildhorse Cinema in Steamboat Springs. The film follows Steamboat Springs Nordic combined skier Annika Malacinski and her ability to compete at the elite level while fighting for gender equality in the sport. In 2022, the International Olympic Committee announced it would exclude women’s Nordic combined from the 2026 Winter Olympic Games in Milano-Cortina, Italy. Malacinski was boarding a flight when she first learned that Nordic combined would be the only Winter Olympic sport to exclude female athletes.
Not only are women not participating in Nordic combined in 2026, but the men’s sport is on the chopping block for 2030 as well. The IOC issued a number of checkboxes last year where checkmarks are needed to keep the sport’s Olympic standing afloat. The needed improvements include higher TV viewership and improved results across all participating nations. Despite the bumps in the road, Malacinski has represented Steamboat Springs well on the Nordic combined World Cup circuit. She ended this World Cup season ranked 15th in the world, continuing a local legacy started by Carl Howelsen 100-plus years ago. The community screening will be followed by a discussion led by Nordic combined athletes and leadership from Nordic Combined USA. To RSVP for the free event, go to: Tinyurl.com/sdchjsbk
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COLORADO PUC INVITES PUBLIC COMMENT ON ENERGY TRANSITION PLAN
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The Colorado Public Utilities Commission is inviting community members to comment on the Xcel Energy “Just Transition Plan” at a public comment hearing at 4 p.m. Thursday in the Hayden Community Center in person and virtually. The Just Transition Plan is Xcel Energy’s next electric resource plan to address the acquisition of new utility resources to meet future electricity needs. Primary objectives of the Just Transition Plan include ensuring resource adequacy and providing reliable service, continuing progress on emissions reductions and delivering a just transition in communities where generation assets are retiring. The coal-fired power plants in Craig and Hayden are set to retire in 2027 and 2028. To learn more, visit TinyUrl.com/yeymejff.
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THE HOME SALE CAPITAL GAIN TAX EXCLUSION
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If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from the sale. To claim the exclusion, you must pass IRS ownership and use tests. During a five-year period ending on the date of sale, you must have owned the home and lived in it for at least two years. If qualified, you may be able to exclude a capital gain of up to $250,000 from your income ($500,000 for married joint filers). Be aware that the exclusion is available only for your main home (not a second home). If you realized a loss on the sale, it’s not deductible. For more information from the IRS: https://bit.ly/3GCMQqz
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COLORADO JOB VACANCIES JUMP IN THE FIRST QUARTER OF 2025
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Colorado’s job postings surged by nearly double the national rate during the first quarter of 2025, pointing to a strong start to the year, but experts can’t say the same for their predictions going into quarter two. Colorado’s labor market saw a 12.8 percent growth in job postings from January through April, ranking third highest nationwide and notably outpacing the national growth rate of 7.7 percent. There were approximately 113,000 job vacancies around Colorado during the first week of January. As of March 31, the report data shows just over 127,000 vacancies. This means that an average of 14,000 new vacancies were added each week during the first quarter of 2025. Colorado ranks 15th in the country for total job vacancies per capita. This marks a significant change of pace from the decline in job vacancies during the last quarter of 2024, when job openings in Colorado decreased by 3 percent.
- Though most regions across Colorado reported higher job vacancies during the first quarter, the greatest growth came from the town of Rifle at 33 percent more job postings, or 701 new postings.
- Steamboat Springs and Pueblo followed with an increase in vacancies of 19 percent and 16 percent, respectively.
- The industries experiencing the largest growth by percentage in quarter one were agriculture and education, with new job posting rates of 167 percent and 51 percent respectively.
- Education topped the list for greatest increase in vacancies with 2,350 new jobs reported in the state, followed closely by nursing at 2,246.
- In tandem with rising vacancies, the state’s median annual salary for full-time job postings also saw a 4 percent boost since the previous quarter, reaching $62,410.
- Part-time roles saw a much smaller improvement, inching up 0.4 percent to reach a median hourly rate of $19.
- Colorado ranks 12th in the country in terms of the highest median wage for full-time employees.
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NEW COLORADO REPORT: HOMELESSNESS MORE WIDESPREAD THAN PREVIOUSLY THOUGHT
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Nearly 53,000 Coloradans sought housing help last year, a much higher number than official homeless counts that advocates say provides a better understanding of housing instability across the state, according to a first-of-its-kind report released this week. The report’s data is sourced from the Colorado Homeless Management Information System, the state’s Dept. of Education and point-in-time counts of people experiencing homelessness. The Homeless Management Information System tracks individuals who have accessed housing and related services at government agencies and other providers. It keeps a tab on people experiencing homelessness, as well as those at risk.
- The newly reported number for Colorado, that 52,806 people “sought housing and services related to homelessness” through partner agencies, is higher than figures reported by the U.S. Dept. of Housing and Urban Development in its 2024 Annual Homelessness Assessment Report to Congress.
- That report, which drew from the point-in-time counts, put the number of people experiencing homelessness statewide in 2024 at 18,715.
- A majority of people experiencing some kind of homelessness, over 28,000, had disabilities.
- Close to 16,000 people, or 30 percent, experienced long-term homelessness, while nearly 8,500 people were considered newly homeless.
- More than 3,000 people, or 6 percent, were military veterans. Veteran homelessness fell statewide by 7 percent since 2023.
- More than 45,000 households were in search of housing and other services in 2024, with the majority, 82 percent, made up of single adults who are 25 or older. More than 4,000 households, or 9 percent, consisted of families with at least one adult and one child. And almost 4,000 households, or 8 percent, were classified as youth, meaning those with members who are 24 or younger, including minors under the age of 18.
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IS YOUR WALMART GETTING A FACE-LIFT?
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Walmart has announced plans to remodel 25 of its Colorado stores this year. Among the stores are locations in Arvada, Denver, Aurora and Colorado Springs. The retail giant aims to remodel more than 650 stores nationwide as part of its broader brand refresh. The planned updates will feature new bold signage and displays to better highlight merchandise, departments offering new products and an expansion of their online pickup and delivery services to fulfill the growing number of online customer orders. The pharmacy areas will also be redesigned with wider aisles, a private screening room and checkout zones that offer more privacy for customers. Over the past few years, Walmart has invested over $310 million to upgrade stores across the state.
The following Walmart locations in Colorado have been selected for remodeling:
- 5990 Dahlia St., Commerce City
- 4200 Dillon Dr., Pueblo
- 60 W Bromley Ln., Brighton
- 952 Swede Gulch Rd., Evergreen
- 6 Conley Rd., La Junta
- 1725 N. Union Blvd., Colorado Springs
- 6101 S Aurora Pkwy., Aurora
- 19600 E. U.S. 24, Woodland Park
- 21475 E. Quincy Ave., Aurora
- 4625 S. Mason St., Fort Collins
- 850 E. 88th Ave., Thornton
- 2000 W. Victory Way, Craig
- 4080 W. Northern Ave., Pueblo
- 3201 E. Platte Ave., Colorado Springs
- 6310 S. U.S. 85-87, Fountain
- 2881 North Ave., Grand Junction
- 9901 Grant St., Thornton
- 840 Summit Blvd., Frisco
- 200 W. 136th Ave., Westminster
- 2100 Legacy Circle, Elizabeth
- 10755 Washington St., Northglenn
- 1325 Denver Ave., Loveland
- 9499 Sheridan Blvd., Westminster
- 9400 Ralston Rd., Arvada
- 1442 S. Parker Rd., Denver
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MARKET UPDATE - 04/29/2025 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 04/24/2025)
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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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