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Colorado - Tue. 05/06/25 |
A Free Business Publication from Alpine Bank
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COLORADO BUSINESS FILINGS GREW DURING FIRST QUARTER OF 2025
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Colorado saw nearly 49,000 new business filings in the first quarter of 2025, up 19 percent from the last quarter of 2024. It’s also up nearly 8 percent year-over-year, according to a report by the University of Colorado Boulder and the Colorado Secretary of State’s office. Job growth in the state has remained strong as employment increased by 2,300 jobs in March, or 0.1 percent year-over-year. But the unemployment rate has grown to 4.8 percent, the highest level in nearly three years, and is expected to continue rising this year.
Colorado’s gross domestic product grew 2.4 percent quarter-over-quarter in Q4 2024, the latest data available for the state. But the national GDP contracted in the first quarter of 2025 as imports surged to beat President Trump’s slate of tariffs. New business filings surged in 2022 and 2023 as the state dropped fees to create a Limited Liability Corporation from $50 to $1. After the temporary boom, new business filings dropped in 2024. The number of businesses renewing their standing with the state fell from the previous year by 1.2 percent to about 207,000, but they were up 11.2 percent from the previous quarter.
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SKI TRAIN TO STEAMBOAT LOOKING LIKELY UNDER NEW AGREEMENT
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Passenger rail to the mountains, including a ski train to Steamboat Springs, looks even more likely after state officials announced a 25-year partnership with Union Pacific on Monday. The agreement includes three daily round trips from Denver to the mountains and allows freight trains to continue to pass through the Moffat Tunnel, a 6.2-mile passage through the Rockies that comes out on the westside near Winter Park. Colorado owns the tunnel, and Union Pacific owns the tracks, which pass through Fraser, Granby, Steamboat and Craig. Daily service from Denver to Granby is expected to begin next year. The Amtrak Winter Park Express uses the first part of the route, delivering skiers slopeside about two hours after departing Union Station in downtown Denver. But passenger trains haven’t gone farther than that since 1968.
The new terms say that Union Pacific can use the Moffat Tunnel for 25 years in exchange for allowing Colorado to run three daily roundtrip passenger routes, or up to 506,000 train miles per year. The transportation department received $3 million in state funding in 2023 to create a plan for a 230-mile Mountain Rail corridor. The build-out is expected to happen in three sections, the first going from Winter Park to Granby by the end of 2026. That section of the tracks is already used by Amtrak’s California Zephyr, which then heads west. The next phase is a local train from Oak Creek to Craig, carrying commuters through the Yampa Valley. And the third phase is the route running the entire corridor from Denver to Craig.
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COLORADO'S BALD EAGLE POPULATION HAS BEEN MAKING A COMEBACK
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Colorado’s bald eagle population is thriving. After dwindling to three or four nests in the 1970s, there are now estimated to be over 300 nests across the state. In the last decade, this growth has accelerated with the population more than doubling since 2015. The comeback of bald eagles in Colorado has been the result of both natural recovery and targeted efforts. The bird’s demise in the U.S. began around 40 years ago, driven by habitat destruction, illegal hunting, and most significantly, contamination of its food source and reproductive failure caused by the widespread use of the insecticide DDT following World War II.
In the 1990s, Colorado’s bald eagle populations began to grow as the human population did. This growth of bald eagles in the state mirrors the bird’s nationwide recovery. In 2007, it was delisted from the federal Endangered Species Act after being classified as endangered in 1978 across the lower 48 states. The species has recovered from an estimated 417 nesting pairs in 1963 to over 71,000 in 2019.
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SKECHERS TO GO PRIVATE IN $9.4 BILLION 3G DEAL
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Skechers founder Robert Greenberg has agreed to sell the maker of comfy sneakers in a deal worth about $9.4 billion to 3G Capital, a private-equity firm that has a history in the consumer-goods sector and had a hand in deals with AB InBev and Kraft Heinz. Greenberg, 85, stands to collect a more than $1 billion payout from the stake he controls in the company through trusts. The CEO and other executives, including his son Michael Greenberg, have agreed to stay on to run the business. They will also take a stake in the privately held company. The deal offers shareholders $63 in cash for each share they hold, sending Skechers shares surging 25 percent in Monday morning trading. The shoe company, known for its hands-free slip-in styles, has grabbed the attention of enough people to become the third-largest footwear company in the world by sales. It is on track to net $10 billion in revenue by 2026. Greenberg has run the business since he founded it in 1992.
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AT LEAST 13 PEOPLE DIED ON COLORADO SKI SLOPES DURING THE 2024-25 SEASON
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At least 13 people died after crashes or heart attacks on Colorado’s ski slopes in the 2024-25 season with at least 10 of the deaths occurring on intermediate or beginner runs. That is a decline from annual fatalities in recent seasons. The Colorado Sun surveys 16 county coroners for deaths recorded at the state’s 27 operating ski areas. Of the three women and 10 men who died following an accident or medical event at Colorado ski areas in the 2024-25 season, eight were skiers and five were snowboarders, with ages ranging from 20 to 76. Five of the deaths were recorded days or even weeks after an accident at a ski area. Colorado ski areas do not report deaths.
In the 2023-24 ski season, 35 deaths were recorded, below the 10-year average of 42 deaths. Of those 35 deaths, 28 were skiers and seven were snowboarders and a majority of them were riding intermediate slopes when they suffered fatal injuries. Only five of those 35 killed on U.S. slopes in the 2023-24 season were not wearing helmets. The death rate per million skier visits reached a 10-year low of 0.58 in the 2023-24 season.
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ASPEN PANTRY CLOSED WHILE VENDORS SWITCH OUT
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With Pitkin County’s decision to switch the food pantry provider from LIFT-UP to Harvest for Hunger, patrons will need to visit other pantries for food services for about a month while the new vendor moves into the space. Harvest for Hunger, the Snowmass Village-based food rescue charitable organization, is taking over the pantry space at the county’s Schultz Health and Human Services building but is not expected to open for at least three more weeks. The building has a 1,298 square-foot pantry space that they lease for free to food assistance providers, who can offer whatever services they choose. Valued at $30/square foot, the free lease is an in-kind donation of about $39,000 monthly.
LIFT-UP, the regional food assistance nonprofit, closed its Aspen Pantry service at the pantry on May 1 after three years operating the pantry. LIFT-UP plans to operate a “drive-thru” pantry at the Aspen Chapel at 77 Meadowood Drive from 10 a.m. to 11 a.m. on Wednesday. LIFT-UP’s mobile pantry is currently used in Silt, and it could rotate more regularly through Aspen in the future. In the meantime, patrons can visit the Harvest for Hunger Snowmass Food Pantry in Town Hall at 130 Kearns Road, open Monday through Friday from 8:30 a.m. to 4:30 p.m. Harvest for Hunger also offers free meals through its refrigerators in the Basalt Regional Library and Pitkin County Library.
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YARD WASTE DUMPING PROGRAM AVAILABLE THIS WEEK IN BASALT
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Basalt’s Yard Waste collection started May 2, and continues through May 12. Basalt residents can bring yard waste like brush, plant material, soil, branches, leaves, or anything organic and green from their backyard. Basalt has contracted with EverGreen ZeroWaste, a local public benefit corporation offering composting services to Roaring Fork Valley residents, to handle the yard waste that Basalt residents drop off. If prospective yard waste dumpers find that a dumpster is already filled, wait 24 hours before trying again. The self-serve dumpsters are checked daily to determine whether they are at capacity, and if they are, those dumpsters will be emptied and replaced quickly.
Because yard waste dumping locations are open for 10 days, Basalt is asking that individuals not bring food waste so as not to attract animals. There is no limit on what can be dumped by individuals, but commercial waste is not accepted. Compostable bags, plastic, logs over six inches in diameter are also not accepted.
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11th ANNUAL GOLF FOR THE TROOPS AT COBBLE CREEK, MAY 31
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Enjoy an unforgettable day of golf for a good cause at the 11th Annual Golf for the Troops Tournament, proudly hosted by Welcome Home Alliance for Veterans. This year's event, which includes an awards lunch, takes place Saturday, May 31 at Cobble Creek Golf Course in Montrose. Check in begins at 7:30 a.m., and the shotgun start is at 9 a.m. This event benefits local veterans and their families in Montrose, Delta, Ouray and San Miguel counties. Sponsorships are available. To register or to become a sponsor, e-mail April.heard@whafv.org, call 970-765-2210 or visit the link below.
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SAN MIGUEL COUNTY SPRING CLEAN UP & TRASH BASH, MAY 16-18
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The Towns of Mountain Village, Norwood and Telluride, along with San Miguel County and EcoAction Partners, are teaming up for the 2025 Spring Clean Up and Trash Bash — a countywide effort to help residents responsibly dispose of unwanted items and support a cleaner, more sustainable community. Spring Clean Up waste and disposal events will be held in Telluride and Mountain Village on Friday, May 16 and in Telluride and Norwood on Saturday, May 17. These annual clean up events provide residents with an opportunity to dispose of household waste, electronics, yard debris, scrap metal and other unwanted items in a responsible manner.
The disposal schedule is as follows:
Telluride — Carhenge Parking Lot (700 W. Pacific Avenue)
- Household hazardous waste material: Friday, May 16, 10 a.m. - 2 p.m.
- Electronics recycling: Saturday and Sunday, May 17 and 18, 10 a.m. - 2 p.m.
- Household waste material: Saturday and Sunday, May 17 and 18, 10 a.m. - 2 p.m.
- Used outdoor gear collection with Telluride Mountain Club: Saturday and Sunday, May 17 and 18, 10 a.m. - 2 p.m.
Mountain Village
- Community Clean Up: Wednesday, May 14, 3 - 6 p.m., Village Court Apartments
- Electronics recycling: Friday, May 16, 10 a.m. - 2 p.m., Market Plaza Parking Lot
Norwood — San Miguel County Fairgrounds (1165 Summit St.)
- Household hazardous waste material: 10 a.m. - 2 p.m., Saturday, May 17
- Electronics recycling: 10 a.m. - 2 p.m.
- Household waste material: 9 a.m. - 3 p.m.
For a full list of accepted items and what to avoid, please visit bit.ly/2025springcleanup. The third annual Trash Bash will take place on Sunday, May 18, in Telluride, starting at noon in Elks Park, located on Oak Street, just off Colorado Avenue. Community members of all ages are invited to participate, either individually or in teams, by picking up litter from public spaces around town. All participants will be entered into a raffle after their collected trash is bagged and weighed. Food and drinks will be provided for all participants. For more information, visit ecoactionpartners.org.
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FLC OPENS $6 MILLION SPORTS PERFORMANCE CENTER
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For decades, the Skyhawks’ weight room at Fort Lewis College was way behind its peers and rivals, with local high schools having better spaces and equipment. Some teams couldn’t work out together because of the lack of space. Now, thanks to years of planning by FLC and support from the Durango community, the Skyhawks have flown to the top of Division II and the Rocky Mountain Athletic Conference with the opening of the $6 million CommonSpirit Sports Performance Center. The space, across from Whalen Gymnasium, is 10,000 square feet and has 24 weight racks, six treadmills, three rowing machines, three bikes, two stair steppers, 10 weight machines, a 250-square-foot fuel station and a turf area. The planning and talk about the sports performance center goes back about five years. The ball really got rolling about 2½ years ago when CommonSpirit put forth a generous donation. Alpine Bank and several other local businesses followed with funding.
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FESTIVALS BRING JAZZ TO COLORADO MOUNTAINS THIS SUMMER
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As the ski season winds down, several mountain towns and resorts prepare to stage music festivals, and this summer, there’s an abundance of stellar live jazz to take in.
- The Jazz Aspen Snowmass June Experience takes place at various locales in downtown Aspen, June 26-29. Singers Alicia Olatuja and Jose James will perform with the JAS Academy Big Band under the direction of returning bassist Christian McBride. Also of note is a tribute to the gone-too-soon guitarist Russell Malone, trumpeter Takuya Kuroda and “Remembering Oscar Peterson,” a celebration of the pianist around the 100th anniversary of his birth. jazzaspensnowmass.org
- The Keystone Wine & Jazz Festival is scheduled for July 12-13 at River Run Village, with an emphasis on established Colorado acts like Dotsero and Buckner Funken Jazz, which should serve as an excellent soundtrack for the sensible consumption of fine wines. keystonefestivals.com
- Back for its 42nd year, the Winter Park Jazz Festival has become a preferred spot for a whole lot of smooth jazz and R&B. Taking place at the Rendezvous Event Center July 19-20, internationally recognized performers will include Sheila E., Gerald Albright, The Dazz Band, Kirk Whalum and Mindi Abair. playwinterparhk.com
- The Telluride Jazz Festival is an overall favorite, with life-affirming sounds and the backdrop of one of the most breathtaking places in North America. For this year’s event, Aug. 8-10, organizers have lined up the well-loved spiritual saxophonist Kamasi Washington, New Orleans representative Trombone Shorty & Orleans Ave, and saxman Karl Denson’s Tiny Universe. telluridejazz.org
- Bringing the summer season to a close, the Vail Jazz Festival (Aug. 29-31) takes place at the Manor Vail Lodge. It’s another excellent lineup, including Gerald Clayton, John Clayton, Terell Stafford, Rene Marie, Lewis Nash, Bill Cunliffe, and Wycliffe Gordon. vailjazz.org
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COLORADO BREWERIES WIN 18 AWARDS AT 2025 WORLD BEER CUP
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Nearly two dozen awards at the 2025 World Beer Cup were awarded to Colorado breweries. Sixteen Colorado breweries received a total of 18 awards at the ceremony at the Indiana Convention Center in Indianapolis. The biggest Colorado winner was River North Brewery with three medals, tapping into adjunct beer categories, chocolate, pumpkin and coffee, all of which River North has medaled in twice over the past three years. There were six first-time winners in Colorado's brewing scene: New Terrain Brewing Company, Wibby Brewing, Stodgy Brewing Co., Mythmaker Brewing, Best Day Brewing, and Mash Lab Brewing. Verboten Brewing medaled for a fourth year in a row including a third year in a row for their beer "Grow Old With You," while The Post won for a second year in a row.
Gold medal winners:
- Verboten Brewing: Mountain Man (Old Ale or Strong Ale)
- Mash Lab Brewing: Burnout Brown (English-Style Brown Ale) - first time winner
- New Terrain Brewing Company: Suntrip (Belgian-Style Witbier) - first time winner
- Cellar West Brewery: Gallus (Belgian-Style Ale or French-Style Ale)
- Verboten Brewing: Grow Old with You (Barley Wine-Style Ale)
Silver medal winners:
- River North Brewery: Pumpkin Spice J. Marie (Pumpkin Beer)
- Coopersmith’s Pub & Brewing: Old Fortwaukee (American Light Lager)
- Stodgy Brewing Co.: Gin Golden Sour (Wood and Barrel-Aged Sour Beer) - first time winner
- Ratio Beerworks: Dear You (American-Belgo-Style Ale)
- The Post Brewing Co.: East County Fine Malt Liquor (Other Strong Beer)
- River North Brewery: Squirrels Just Want to Have Fun (Coffee Beer)
- Westbound & Down Brewing Co.: Westbound IPA (American-Style Strong Pale Ale)
Bronze medal winners:
- Elevation Beer Co.: Coconut Oil Man (Field Beer)
- Wibby Brewing: Moondoor Dunkel (Munich-Style Dunkel) - first time winner
- Mythmaker Brewing: Lichtenhainer (Historical Beer) - first time winner
- Westbound & Down Brewing Co.: Scenic Route - (Session India Pale Ale)
- Best Day Brewing: Kolsch (Classical Non-Alcohol Ale or Lager) - first time winner
- River North Brewery: Midnight Hike (Chocolate Beer)
The Brewers Association started the World Beer Cup in 1996 to celebrate the art and science of brewing. World Beer Cup winners were selected by an international panel of 265 beer judges from 37 countries. For the full list of 2025 World Beer Cup award winners, visit WorldBeerCup.org.
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MARKET UPDATE - 05/05/2025 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 05/01/2025)
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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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