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Colorado - Fri. 06/06/25 |
A Free Business Publication from Alpine Bank
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BAE SYSTEMS WINS $1.2 BILLION SPACE FORCE CONTRACT FOR MISSILE-TRACKING SATELLITES
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The U.S. Space Force has chosen a space company with locations in Westminster and Boulder to build 10 missile detection satellites for $1.2 billion. BAE Systems Space and Mission Systems, the London-based defense giant's Colorado-based space division, is contracted to build and then deliver the first batch of missile-warning satellites in 2029. The satellites are meant to identify and track a range of missiles, from intercontinental ballistic missiles to 'hypersonic' missiles that fly several times faster than the speed of sound. The satellites are part of the Epoch 2 program, through which the Space Force plans to scatter a network of small missile-tracking satellites in medium Earth orbit. The satellite constellation uses sensors to detect launched missiles and determine their trajectories, a priority of the defense sector since the proliferation of hypersonic missiles: fast, hard to intercept missiles that can rush through defense networks with blinding speed.
BAE Systems Space and Mission Systems was formerly Ball Aerospace, the space arm of Westminster-based aluminum can giant Ball Corp., until it was bought by BAE Systems in 2024 for $5.6 billion. The BAE space division employs about 5,000 people.
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COLORADO CONSOLIDATES MENTAL HEALTH CRISIS SERVICES UNDER 988 COLORADO
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Starting July 1, calls and texts to the Colorado Crisis Services will be connected to 988 Colorado. With this switch — prompted by the legislature’s passage of Senate Bill 236 this year — 988 will become the state’s primary crisis and mental health line. By calling or texting 988, individuals can receive immediate emotional, mental health or substance use support 24/7. The service is free and confidential to use. The 988 network launched nationwide in 2022 to create a support number that individuals experiencing a mental health crisis could reach, regardless of where they are in the U.S. While a nationwide number, calls made in Colorado are redirected to the local support under 988 Colorado. During high volume, calls and texts may be routed to backup centers in other states.
The Colorado Crisis Services line was created in 2013 in response to the Aurora Theater shooting, evolving to meet the state’s behavioral health needs. The services will now be consolidated under 988 Colorado and will be operated by Solari Crisis and Human Services. To date, 988 Colorado has answered over 364,213 calls, with the majority of calls coming from individuals between the ages of 26 to 39 in connection to suicide factors, wellness concerns and social/interpersonal stress.
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KIMBERLY-CLARK SELLS MAJORITY STAKE IN INTERNATIONAL TISSUE UNIT TO BRAZIL'S SUZANO
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Kimberly-Clark on Thursday struck a deal with Brazilian pulp maker Suzano to sell a majority stake in its international tissue business, valuing the business at about $3.4 billion. The deal will form a new joint venture in which Kimberly-Clark would hold a 49 percent stake, while Suzano will pay about $1.73 billion in cash for the 51 percent stake. Suzano, one of the world’s largest pulp makers, will have the option to purchase Kimberly-Clark’s ownership interest under certain conditions. The deal is expected to close in mid-2026.
Several consumer-facing companies, such as General Mills and PepsiCo, have ramped up strategic deals over the last year in a bid to boost growth and increase global exposure. In September, General Mills divested its North American yogurt segment for $2.1 billion to focus on faster-growing snacks and pet food business. PepsiCo bought tortilla-chip maker Siete Foods for $1.2 billion a month later. Kimberly-Clark has also been simplifying its operations and reorganizing its business to cut costs and focus on more profitable parts, such as personal care and North America tissue segments. In April, the Huggies diaper maker slashed its full-year profit forecast and said it would incur about $300 million tariff-related costs.
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COLORADO SKIER VISITS DOWN SLIGHTLY IN 2024-25 SEASON
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Colorado saw 13.8 million skier visits during the 2024-25 winter season, according to Colorado Ski Country USA. The preliminary data makes the 2024-25 ski season the third highest ever for skier visits. An industry trade association of 21 member resorts throughout Colorado, Colorado Ski Country USA uses publicly available information to project statewide skier visits each year. While skier visits were up slightly season-over-season in the U.S. during the 2024-25 season, Colorado saw a slight decline from last season. Skier visits peaked in both Colorado and the U.S. during the 2022-23 season, with 14.8 million skier visits and 65.4 million skier visits, respectively.
Most years, Colorado accounts for just less than one-quarter of all skier visits in the U.S. That continued during the 2023-24 season, with Colorado accounting for about 22 percent of all skier visits in the country. During the 2024-25 season, the U.S. logged 61.5 million skier visits, the second highest on record, and up slightly from the 2023-24 season, when the country saw an estimated 60.5 million skier visits. But Colorado saw a slight decline in skier visits between those two seasons, losing about 200,000 skier visits during the 2024-25 season compared to the 14 million total skier visits during the 2023-24 season.
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DENVER'S WEST 8TH AVE. BRIDGE TO CLOSE THIS WEEKEND FOR CONSTRUCTION
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Denver drivers should avoid the West Eighth Avenue bridge this weekend as crews work to resurface the area, according to city officials. Eighth Avenue will be closed between Tejon and Mariposa streets from 7 a.m. Friday through the end of the day Monday. The resurfacing is part of an ongoing $1.5 million project to repair and maintain the bridge. During the closure, drivers headed east on Eighth will be rerouted north on Wyandot Street to West 13th Avenue, east toward Mariposa and then south to rejoin Eighth, city officials said in the release. Drivers on Interstate 25 are encouraged to use 6th Avenue or Colfax Avenue as alternate routes.
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CDOT TO HOLD TELEPHONE TOWN HALL TO DISCUSS TRANSIT PROJECTS IN MOUNTAIN COMMUNITIES
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The Colorado Dept. of Transportation will hold a telephone town hall on Monday, June 9 from 6:30 to 7:30 p.m. to collect feedback on projects and proposals in Western Slope communities. CDOT wants to hear from residents in Chaffee, Delta, Eagle, Garfield, Gunnison, Lake, Mesa, Montrose, Ouray, Pitkin and Summit counties. The town hall will be led by CDOT District Seven Commissioner Barbara Bowman, who oversees the area that includes those 11 counties. Residents are encouraged to call in to ask questions about projects and share input on potential transportation needs in their areas. The feedback will be used to help guide CDOT’s 10-year plan for capital projects, which represents hundreds of planned and ongoing infrastructure initiatives throughout the state. You can access the town hall URL by clicking the link below.
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ASPEN AIRPORT OPERATOR DONATES $1 MILLION TO HELP TWO ROARING FORK VALLEY MOBILE HOME PARKS
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Aspen/Pitkin County Airport’s fixed-base operator Atlantic Aviation has pledged $1 million to support the residents of two Roaring Fork Valley mobile home parks, one in Basalt and one in Carbondale, as they race against time to help residents purchase the land beneath their houses and preserve their communities. The donation marks a significant step toward the estimated $20 million or more needed to collectively acquire the parks, which are currently under contract with private buyers. If the residents of the park are unable to purchase their mobile home parks, they risk increasing rents and further development that could essentially price out any current, longtime residents. The donation is directed toward the Aspen-Basalt Mobile Home Park, located in unincorporated Eagle County, and the Mountain Valley Mobile Home Park, situated in unincorporated Garfield County.
Together, the parks are home to more than 450 residents, many of whom have lived there for more than a decade, and most of whom earn less than 80 percent of the area’s median income. The contribution from Atlantic Aviation comes in response to Colorado’s 2020 “Mobile Home Park Act,” which grants residents the right of first refusal when their park is put up for sale. Under this law, homeowners have 120 days to match or exceed any third-party offer. With contracts already on the table, $26.5 million for the 75-unit Aspen-Basalt park and $15.5 million for the 64-unit Carbondale park, the clock is ticking.
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TWO FAMILIES BUY SKA BREWING CO.
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Ska Brewing Co. in Durango was sold to the Ariano and West families last month, company president and co-founder Dave Thibodeau said Thursday. This year marks the company’s 30th anniversary. It was founded in 1995 by Thibodeau, Bill Graham and Matt Vincent. The Ariano family owns A&L Coors Distribution in Durango. Thibodeau said Bob Ariano and Dave West are experienced beer distributors familiar with Ska Brewing and the Durango community. They are also longtime friends. Thibodeau declined to disclose Ska Brewing’s sale price. He said A&L Coors has a distribution warehouse in Alamosa and regularly runs trucks from there to Durango. The plan is to extend distribution to Alamosa and the San Luis Valley. He said the Ariano and West families have a strong distribution network in Colorado and other states, and he sees regional, and possibly national, opportunities in the future. But for now, Ska Brewing’s distribution focus will remain on Southwest Colorado.
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MAIN STREET STEAMBOAT FARMERS MARKET TO KICK OFF SATURDAY
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The Main Street Steamboat Farmers Market is back for the summer, with the first market taking place from 9 a.m. to 2 p.m. Saturday on Yampa Street. Over 150 vendors will offer fresh produce, local meat and handcrafted goods from Yampa Valley artisans. Main Street Steamboat encourages attendees to visit the Western Welcome Center for Nonprofits on Seventh Street, where they can meet local organizations. Steamboat Springs City Council members will have a booth from 9 a.m. to noon at the corner of Seventh Street each Saturday when the market is held to connect with community members. The booth will also welcome special guests like department directors and public safety officers, allowing the community to bring issues, ideas and feedback to city officials. The Steamboat Springs Police Dept. and Steamboat Springs Fire Rescue will also conduct CPR training on the sidewalk during the market. To learn more, visit MainStreetSteamboat.com/farmers-market.
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LAKE DILLON BEER FESTIVAL PLANS TO RETURN FOR 13TH YEAR ON SATURDAY
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Dillon will be hosting its 13th Annual Lake Dillon Beer Festival on Saturday, June 7 from 1 to 4 p.m. at Dillon Amphitheater. The event will feature beer from more than 30 Colorado craft breweries. A portion of the proceeds from the event will support the Colorado Brewers Guild, which aims to protect and propel independent craft breweries. A portion of proceeds will also support The Blue River Watershed Group and its mission to promote, protect and restore a healthy Blue River watershed. More information and tickets can be found at DillonAmp.com.
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BEST NATIONAL PARKS FOR HIKING
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Rocky Mountain National Park is ranked high on a new list of the top 10 best national parks for quality hiking. Three other parks on the list are within a day’s drive of the Front Range. The parks were judged based on three criteria: number of hiking trails, number of visitors (as an indication of popularity) and user trail reviews found on the AllTrails app.
- Rocky Mountain National Park took third place with 220 hiking trails, 4.1 million visitors in 2024 and an average trail rating of 4.5 stars on the AllTrails 1-5 scale.
- Great Smoky Mountains National Park, far and away the busiest U.S. national park with 12.1 million visitors, placed first with 348 trails and an average trail rating of 4.4 stars. It is located in the Blue Ridge Mountains of the Appalachian range.
- Other parks ranked in the top 10 that are located within a day’s drive of the Front Range include Yellowstone, Zion and Grand Teton.
- At No. 2, Yellowstone in northwestern Wyoming came in with 252 trails, 4.7 million visitors and an average trail rating of 4.4.
- Zion, located in southwestern Utah, came in at No. 9 with 93 trails, 4.9 million visitors and a trail rating of 4.4.
- Grand Teton in northwestern Wyoming placed 10th with 3.6 million visitors and a trail rating of 4.6.
- Other parks on the list include Yosemite in California (fourth), Acadia in Maine (fifth), Olympic in Washington state (sixth), Grand Canyon in Arizona (seventh) and Glacier in northern Montana (eighth).
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DISNEY SAYS ITS THEME PARKS GENERATE $67 BILLION IN ANNUAL U.S. ECONOMIC IMPACT
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For decades Disney’s domestic theme parks have been the growth engine for tourism, job creation and tax revenue in Southern California and Central Florida. On Thursday, the company revealed its wider impact on the U.S. — reporting a national economic impact of $67 billion each year. The new report comes from economists at Tourism Economics, an Oxford Economics company, which combined data collected about Disneyland’s impact in California and Walt Disney World Resort’s impact in Florida as well as additional nationwide spending spurred by the company. Disney’s economic impact report arrives on the heels of its announcement of a new theme park development in Abu Dhabi and the opening of rival Universal’s Epic Universe in Florida. It also follows a recent bout of scrutiny over the company’s ticket prices, which some critics say have priced out potential parkgoers.
- Tourism Economics determined that Walt Disney World Resort had a $40 billion economic impact across the state of Florida in fiscal year 2022.
- Disneyland Resort had a $16 billion impact on Southern California in fiscal year 2023.
- The combined parks have a $10 billion annual economic impact on the rest of the country.
- The report also determined that Disney supports more than 400,000 jobs domestically, noting that 1 out of every 20 jobs in Orange County, California, and 1 out of every 8 jobs in Central Florida can be attributed to the company.
Disney has more expansion plans, with $30 billion in domestic capital expenditures expected through 2033. This includes the largest-ever expansion of the Magic Kingdom, including a revamped section of Frontierland and new land themed around Disney’s villains. A new tropical Americas land is coming to Animal Kingdom, featuring attractions based on “Encanto” and the Indiana Jones franchise. And Hollywood Studios is getting a “Monsters Inc.” land. Over in California, Avengers Campus at California Adventure is set to double in size and attractions based on “Coco” and “Avatar” are planned for Disneyland.
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DENVER NWSL FINALIZES OWNERSHIP HEADLINED BY STARS LIKE SHIFFRIN, MANNING
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Mikaela Shiffrin and Peyton Manning are among the high-profile and Colorado-rooted names on the new Denver NWSL franchise’s finalized ownership roster, which was revealed on Thursday. Led by controlling owner Rob Cohen, the full group reflects the club’s emphasis on local identity, with several investors hailing from Colorado or having close ties to the state. The creators of the For Denver FC movement, the grassroots effort which eventually produced the winning bid for the NWSL’s 16th franchise, were added to the ownership group. Denver
NWSL’s full ownership group:
- Rob Cohen: Controlling owner
- Project Level/Mellody Hobson: Subsidiary company of Ariel Investments, led by Hobson, Denver NWSL’s Alternate Governor
- Borgen/Moritz families: Jon-Erik Borgen and Kaia Borgen Moritz, Colorado-based investors through FirstTracks Sports Ventures LLC
- Neelima Joshi and Dhiren Jhaveri: Joshi, a Colorado native and finance professional; Jhaveri, founder and CEO of Kuvare Holdings
- Molly Coors: Colorado native, serves on the Young Guns Committee for the National Western Stock Show
- Mikaela Shiffrin: Colorado native and world-class alpine skier. Has the most World Cup alpine skiing wins (men or women)
- Peyton Manning: Pro Football Hall of Famer, Broncos and NFL Legend. Led Denver to Super Bowl 50 title
- Cordillera Investment Partners: Investment management firm focused on niche, non-correlated assets
- The Soin family led by Vishal Soin: Vishal Soin, president of Varis Holdings
- Brooke Woody: Colorado resident, also holds a minority ownership stake in NWSL club North Carolina Courage
- For Denver FC Capital Partners: Along with Angeli, Hubbard, Dunmore and Glaros, the group of now part-owners includes Stacy Carter, Yoav Lurie, Lana Kimayeva, Jodi Asarch, Sebastian Somen, Thomas and Carrie Hutchinson and others
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MARKET UPDATE - 06/05/2025 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 06/05/2025)
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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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