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Colorado - Tue. 11/18/25 |
A Free Business Publication from Alpine Bank
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U.S. CONSTRUCTION SPENDING RISES 0.2% IN AUGUST
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The Commerce Dept. reported Nov. 17 that U.S. construction spending unexpectedly increased 0.2 percent in August, following a revised 0.2 percent gain in July. Economists had forecast a slight decline, but renovations lifted residential investment even as new single-family housing projects fell 0.4 percent. Multifamily construction rose 0.2 percent, while private nonresidential spending slipped 0.3 percent. Public construction outlays were unchanged, with federal projects down 0.8 percent. Overall spending was 1.6 percent lower year over year. The report was delayed by the 43-day government shutdown and is the first of several postponed releases. Mortgage rates eased in August as the Federal Reserve resumed cuts, potentially supporting September activity, though rates have since stabilized. Elevated housing inventory and a tepid labor market continue to weigh on builders.
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FAA LIFTS FLIGHT RESTRICTIONS AT 40 MAJOR AIRPORTS
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The Federal Aviation Administration announced Nov. 16 that all commercial flight restrictions imposed during the government shutdown will be lifted at 6 a.m. ET on Nov. 17, restoring normal operations at 40 major U.S. airports. The emergency order, which also limited space launches and general aviation at 12 airports, was rescinded after safety reviews showed a steady decline in staffing-trigger events. Transportation Secretary Sean Duffy praised the FAA’s safety team and emphasized plans to accelerate controller hiring and modernize air traffic systems. During the shutdown, 13,000 controllers worked without pay, leading to tens of thousands of delays and cancellations. Cirium reported Nov. 16 disruptions were minimal, with a 0.25 percent cancellation rate and 91 percent on-time departures. FAA data showed staffing triggers dropped from a record 81 on Nov. 8 to just one on Nov. 16, aligning with pre-shutdown conditions.
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DENVER SUMMIT FC THREATENS TO SEEK NEW STADIUM SITE
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Denver Summit FC, the new National Women’s Soccer League franchise, warned it may relocate if the City Council does not approve its stadium plan and $50 million city contribution soon. The team, led by majority owner Rob Cohen, had chosen Santa Fe Yards in the Baker neighborhood for a 14,500-seat venue, but council delays have stalled progress. Officials say the stadium must be ready by March 2028, and the team has already secured 15,000 season ticket deposits for its 2026 debut. Council members cite incomplete financial terms and community benefits agreements as reasons for postponement. The city has pledged up to $70 million, including land purchase and infrastructure improvements, but trust between Mayor Mike Johnston’s office and council has frayed. Summit FC will play temporarily in Centennial while continuing negotiations and has hinted at exploring sites outside Denver if approvals are not finalized.
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FINNISH AMBASSADOR VISITS COLORADO’S QUANTUM INDUSTRY
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Finland’s ambassador to the U.S., Leena-Kaisa Mikkola, visited Boulder on Nov. 13, 2025, to strengthen ties with Colorado’s growing quantum technology sector. She joined the SPIE Quantum Catalyst event and toured companies and universities developing quantum computing tools and workforce training. Finland has invested heavily in commercialization, with Helsinki-based Bluefors producing 200 dilution refrigerators annually and Espoo’s IQM unveiling Europe’s first 50-qubit quantum computer. Colorado’s Elevate Quantum Tech Hub has also signed agreements with the UK and hosted delegations from Australia and Denmark. Local leaders emphasized that no single country can own the entire supply chain, making international partnerships critical. Mikkola noted similarities between Finland and Colorado in population size and openness to innovation, highlighting shared opportunities in entrepreneurship, investment and quantum research.
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COLORADO DECLARES COLORADO RIVER INFESTED WITH ZEBRA MUSSELS
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Colorado Parks and Wildlife confirmed new detections of zebra mussels in the Colorado River, declaring the river “infested” from the Eagle River confluence to the Utah border. The invasive species, first detected in 2022, reproduce rapidly — a single mussel can produce up to one million veligers annually — and threaten ecosystems and infrastructure. A late-October sampling effort covered 200 miles and 200 sites, finding adult mussels near Rifle and Glenwood Canyon. Officials say complete removal is unlikely, shifting focus to management and prevention. Four other Colorado lakes already carry infestation designations. A private Eagle County lake, identified as a major source, remains under investigation. Parks and Wildlife urges boaters and anglers to clean, drain and dry equipment to slow spread. The same survey also found New Zealand mudsnails in the Roaring Fork River for the first time, adding another invasive challenge.
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ASPEN HALL OF FAME TO INDUCT THREE IN APRIL
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Three longtime contributors to Aspen will be honored at the 2026 Aspen Hall of Fame banquet on April 12 at the Hotel Jerome. Mark Harvey, Gail Schwartz and David “Wabs” Walbert were selected for their decades of service in ranching, education, housing, hospitality and firefighting. Harvey, a former ski racer, continues to run his family’s Old Snowmass ranch and has written, filmed and served on nonprofit boards. Schwartz, active since 1973, helped create more than 700 affordable housing units, served in the Colorado Legislature and recently retired as CEO of Habitat for Humanity RFV. Walbert, in Aspen since 1976, owned Pablo’s and the Red Onion, volunteered as a firefighter for 30 years and mentors students while preserving mining history. Video profiles will premiere at the banquet and be archived locally. Founded in 1986–87, the Hall has honored more than 100 members.
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ROARING FORK VALLEY LAUNCHES FIRST-OF-ITS-KIND CONSERVATION PARTNERSHIP
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Aspen Valley Land Trust and The AES Corporation have formed a unique partnership to conserve critical wildlife habitat across the Roaring Fork and Colorado River valleys, supported by Colorado Parks and Wildlife. The collaboration links renewable energy development with land conservation, enabling rapid action on high-impact projects. Eagle County recently completed one of the valley’s largest conservation efforts, protecting Three Meadows Ranch’s 4,251 acres of intact habitat and historic ranchland. Additional projects in Garfield and Pitkin counties include stream restoration, agricultural land protection, and wildlife migration corridors. AES also contributed $400 per acre from its High Mesa Solar project to Colorado’s first voluntary Solar Mitigation Fund, with $26,000 directed to AVLT’s Three Meadows transaction. Officials say the model shows how energy development can reinforce conservation goals, ensuring resilient landscapes for communities and wildlife.
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POWDERHORN OPTIMISTIC FOR FRIDAY OPENING AFTER STORM
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Powderhorn Mountain Resort reported 2 to 4 inches of natural snow from a Nov. 16 storm and expects cooler temperatures this week to support snowmaking, raising hopes of opening for the season on Friday. Assistant GM Ryan Robinson said top-to-bottom snowmaking on Bill’s Run and coverage on lower mountain trails will allow limited terrain if conditions hold. The resort has faced lingering warm weather in recent weeks, but forecasts now show seasonal or below-normal temperatures as another system moves through mid-week. National Weather Service meteorologist Kate Abbott noted Grand Junction received 0.29 inches of rain from the same system, leaving the valley slightly above average for fall precipitation though still 1.5 inches below average for the year. Powderhorn will host its annual Passholder Appreciation Movie Night Nov. 18 at Colorado Mesa University, featuring a Teton Gravity Research film.
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VAIL VOTERS REJECT SHORT-TERM RENTAL TAX FOR HOUSING
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Vail voters narrowly defeated Ballot Issue 2A, which proposed a 6 percent excise tax on income from the town’s 2,600 short-term rental properties to fund workforce housing. Final results on Nov. 17 showed 916 “no” votes to 881 “yes,” a margin of 35. The measure would have raised the lodging tax on short-term rentals from 10.8 percent to 16.8 percent, generating an estimated $7.2 million annually for attainable housing projects. The proposal was supported by the town council and housing advocates but opposed by managers of condotels, who argued the tax unfairly targeted short-term rentals while exempting traditional hotels. Early returns had already indicated resistance to the plan, and the close outcome underscores divisions over how to address Vail’s housing shortage.
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STEAMBOAT SPRINGS TO HOST FREE COMMUNITY THANKSGIVING DINNER
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United Way of the Yampa Valley will host its annual free community Thanksgiving Dinner on Nov. 27, 2025, from 12:30 to 4:30 p.m. at the Steamboat Springs Community Center, 1605 Lincoln Ave. The event is open to all and relies on hundreds of volunteers and food donations. Residents can sign up online to provide dishes ranging from green bean casserole and dinner rolls to whipped cream, with drop-off scheduled 9 to 11 a.m. the morning of the meal. Last year, 500 attendees were served 700 meals, including to-go portions for those unable to attend in person, supported by 284 volunteers. Organizers emphasize the importance of community generosity to sustain the tradition. More details, including volunteer registration and donation sign-ups, are available at UnitedWayoftheYampaValley.org.
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BRECKENRIDGE SUMMER GUEST NIGHTS DROP NEARLY 12%
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Breckenridge lodging saw a decline in summer 2025, with guest nights down 11.7 percent compared to 2024, according to KeyData, while DestiMetrics reported a steeper 17.7 percent drop. KeyData counted about 138,000 guest nights with an average daily rate of $238, while DestiMetrics reported 105,000 nights at $213. Tourism officials explained the discrepancy as differences in the number of properties tracked, with KeyData covering 3,150 units and DestiMetrics 1,570. July was the hardest hit month, down 16 percent year-over-year, coinciding with a 6.23 percent decline in taxable sales. September guest nights also fell 17 percent. Officials noted most of the decline came from Colorado visitors, while out-of-state markets fared slightly better.
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THANKSGIVING TRAVEL TO REACH RECORD 81.8 MILLION AMERICANS
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AAA projects 81.8 million people will travel at least 50 miles from home between Nov. 25 and Dec. 1, 2025, marking the busiest Thanksgiving travel period on record. Nearly 90 percent of travelers will drive, while 6 million are expected to fly and 2.5 million will use buses, trains or cruises. Florida tops domestic destinations, while Europe, the Caribbean and Australia lead international bookings. INRIX forecasts heavy congestion Tuesday and Wednesday before Thanksgiving, with Sunday the busiest return day.
- By Car: 73 million travelers; rentals 15 percent cheaper; Orlando, Atlanta, Las Vegas, Los Angeles and Newark top rental markets.
- By Air: 6 million travelers; average roundtrip $700; cheaper to fly on Thanksgiving Day.
- Other Modes: 2.5 million travelers; cruising continues record growth with 20.7 million U.S. passengers in 2025.
- Top Domestic Destinations: Orlando, Fort Lauderdale, Miami, Los Angeles, Tampa, New York, San Francisco, Honolulu, Las Vegas, Atlanta.
- Top International Destinations: Paris, Amsterdam, Vienna, Cancun, Punta Cana, Basel, Sydney, Barcelona, Budapest, Aruba.
- Traffic Forecast: Worst congestion Tuesday and Wednesday afternoons; Sunday heavy all day; best times to drive are mornings.
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WHITE RIVER NATIONAL FOREST TO BEGIN PILE BURNING
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The White River National Forest announced plans to conduct pile burning operations this fall, winter and into spring 2026 when snow coverage and weather conditions are favorable. Forest managers use pile burns to reduce hazardous fuels, overgrown vegetation and wildfire risk, protecting communities, infrastructure and natural resources. Operations will be canceled if conditions are unsafe, and residents may see smoke near prescribed fire areas.
- Summit County: Keystone Gulch (86 acres), Ruby Ranch (86 acres), Peak 7 (22 acres), Barton Gulch (66 acres), Ophir Mountain (229 acres), Blue River West (110 acres)
- Eagle County: Trappers Run (20 acres), Booth Creek (5 acres), Piney (100 acres).
- Garfield County: Sunlight (100 acres), Red Dog (19 acres).
- Safety Guidance: Watch for warning signs, slow down if driving in smoke, use headlights.
- Health Precautions: Check air quality, stay indoors if poor, use N95 respirators outdoors, close windows and vents in vehicles, take extra care at night.
- Notifications: Updates will be posted on the forest website, Facebook, and through county emergency management.
If you’re near a prescribed burn:
- Check the air quality before going outdoors.
- Stay indoors if the air quality is bad. Close windows and doors. This is especially important for children and other higher risk groups.
- Limit activity outdoors in heavy smoke.
- During periods of heavy smoke, use an N95 respirator outdoors.
- Other kinds of masks, such as cloth, surgical, or paint masks, do not prevent breathing in smoke.
- People with heart or lung conditions should check with a doctor before wearing a respirator.
- Reduce smoke in your vehicle. Close the windows and vents. Run your car’s air conditioner in recirculate mode to reduce air intake from outside.
- Smoke can be worse at night. Take extra precautions if you need to go out and close the windows when you are indoors.
- Monitor prescribed burns in Colorado.
- Consider temporarily locating to another area if it is safe to do so. Seek out locations where air is filtered such as malls, movie theaters or recreation centers.
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MARKET UPDATE - 11/17/2025 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 11/13/2025)
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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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