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Colorado - Tue. 12/09/25 |
A Free Business Publication from Alpine Bank
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COLORADO GIVES FOUNDATION TURNS 50 DURING GIVING SEASON
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Colorado Gives Day is today, Dec. 9, and the Colorado Gives Foundation is celebrating its 50th anniversary. Colorado Gives Day encourages people to give to nonprofit organizations. The Colorado Gives Foundation started with small, local roots in Jefferson County, acting as the fundraising organization for a hospital. Its focus remains Jefferson County, but the organization has grown to support nonprofits across the state. Over the last four years, it invested $30 million in Jefferson County nonprofits. Its statewide reach began in 2007 with the creation of ColoradoGives.org. Since 2010, people have donated $524.6 million through the ColoradoGives.org platform.
In 2024 alone, 134,000 donors gave $77 million to 4,500 nonprofits across the state. Nonprofits can join for free and those looking to donate can search the website for nonprofits they want to give to. All of the nonprofits on the website are vetted through the foundation to ensure donors are not being scammed. People can donate year-round at ColoradoGives.org, but the foundation encourages it during the “giving season,” which runs from Nov. 1 to Dec. 9.
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$12 BILLION AID PACKAGE FOR FARMERS
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President Donald Trump announced a $12 billion aid package for farmers, offering much-needed financial assistance to a core constituency hit hard by the administration’s tariff policy. Up to $11 billion of the aid package will be allotted to an assistance program for farmers producing row crops, such as corn, wheat and soybeans, through a Farmer Bridge Assistance program. Those funds will move by Feb. 28, 2026, but farmers will be informed how much they will receive earlier. The other $1 billion will be reserved for farmers of other specialty crops like fruits and vegetables. Earlier this year, soybean farmers bore the brunt of Trump’s tariff policy when China abruptly slashed their U.S. soybean purchases to zero as the two countries struggled to resolve a trade dispute over rare earth minerals. China was previously the largest single purchaser of American soybeans and purchased about half of the U.S.’ $24.5 billion soybean crop in 2024.
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PARAMOUNT MAKES $77.9 BILLION HOSTILE BID FOR WARNER AFTER NETFLIX STRUCK DEAL
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Paramount launched a $77.9 billion hostile takeover offer for Warner Bros. Discovery Monday, taking its case for acquiring the storied entertainment company directly to shareholders just days after Warner agreed to a deal with Netflix. Paramount, run by David Ellison, is arguing that its all-cash $30-a-share offer for all of Warner, owner of networks such as CNN, TBS and HGTV as well as the HBO Max streaming service, is a better deal for shareholders and more likely to pass regulatory muster. Netflix agreed to pay $72 billion, or $27.75 a share, for Warner’s studio and HBO Max streaming business after the entertainment company splits itself in two, in a cash-and-stock deal the companies announced Friday.
Paramount’s decision to take its offer directly to Warner’s shareholders could set up a messy, public battle for the future of Warner’s coveted assets like HBO, Harry Potter and DC Comics. Paramount said its offer is backstopped by the Ellison family and RedBird Capital, along with $54 billion of debt commitments from Bank of America, Citi and Apollo Global Management. Paramount also said it has equity commitments from the sovereign-wealth funds of Saudi Arabia, Abu Dhabi and Qatar, as well as Affinity Partners, the private-equity firm of Jared Kushner, President Trump’s son-in-law.
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SKI RESORT SNOW DEPTHS STILL LAGGING DESPITE STORM
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Six Colorado ski resorts received 20 inches or more of fresh snow in recent days, and a dozen more saw double-digit totals, but base depths remain well below normal across the state. Vail led the way with 27 inches from the most recent storm system, with Copper Mountain (24) and Steamboat (21) not far behind. Arapahoe Basin, Breckenridge and Eldora picked up 20. Areas receiving 15-19 inches included Winter Park, Snowmass, Keystone, Aspen, Loveland and Monarch. Every ski area except Purgatory, Monarch and Crested Butte has a base depth that is less than 80 percent of normal. That’s not likely to change anytime soon, according to the OpenSnow forecasting and reporting service. There is a chance of snow around Dec. 17, Gratz wrote, “but the odds of significant snow are low, as most of the storminess will remain to the north of Colorado.”
Eighteen ski areas have base depths that are 60 percent to 75 percent of normal, including Vail, Keystone, Arapahoe Basin, Loveland, Eldora, Copper Mountain and Breckenridge. Beaver Creek is at 54 percent. The forecast isn’t great for Utah, either. “A ridge of high pressure is going to keep Utah mostly dry and mild for at least the next week,” wrote OpenSnow Utah forecaster Evan Thayer, “likely longer. It could be worse. The Jackson Hole-Targhee area in Wyoming is expecting rain this week.
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TWO COLORADO CLOTHING STORES RANKED AMONG BEST IN COUNTRY BY NYT
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Two clothing stores in Colorado are making national names for themselves after catching the eye of the New York Times and snagging spots on its list of the 50 best clothing stores in America. Most of the stores on the list are independent small businesses, ranging from a skate shop in Arizona to a Milanese tailoring business in Georgia. Within the 50-item list, two Colorado stores received a shoutout: Montbell in Boulder, the Japanese cousin of Patagonia founded by Isamu Tatsuno, and Gorsuch’s flagship store in Vail, featuring European skiwear. Montbell’s Boulder location is the brand’s only store in the U.S. Roughly 100 miles away, in Vail, Gorsuch’s ski town inventory includes everything from sweaters and winter jackets to baseball caps. The family-run business also rents skis at its locations across Colorado and Utah.
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CO 150 ORGANIZER HOPES FOR 'NEW WAYS OF DISCUSSING OUR COMMUNITIES'
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Colorado will mark its 150th year of statehood in 2026, alongside the U.S. celebrating its 250th anniversary of independence. Local Colorado 150 Organizing Committee Member Zebulon Miracle said there were countless efforts in the works to mark the occasion. They range from local events to historic register additions to drone shows to statewide initiatives. And while state and national birthdays on Aug. 1 and July 4 will have their share of fanfare, the committee hopes to keep memorable happenings in motion all year long. “This isn’t just a one-off event,” Miracle said. “What we want this to be is a year-long celebration. We want this to create new ways of discussing our communities, discussing our past. We don’t want this to be something people get excited about, celebrate, and then drop and forget. We want this to propel communities and our state forward.”
With just a few weeks left in 2025, there’s still time for locals to qualify for grant funding, or to get their celebrations onto a statewide calendar of Colorado 150 events. Miracle said he urged anyone interested to reach out to the committee by contacting him at mesacounty250150@gmail.com.
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PEACH TREES SHOULD BE SAFE FROM FROST DAMAGE IN RECENT COLD SNAP
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Despite the wintry weather this week, peach trees in the Grand Valley should be relatively safe from freezing damage to the woody tissues of the trees, according to CSU Research Scientist David Sterle. Sterle said he had received questions from growers about the risk of frost damage to the woody parts of the peach trees during the recent cold snap, similar to what the valley saw in an October freeze in 2020. Unlike the 2020 event, Sterle said this year has seen more days of cold and below-freezing temperatures, which should have allowed the peach trees to acclimate to the lower temperatures. It has also been generally cooler in the run-up to this week’s drop in temperature compared to 2020. The lack of green foliage on the trees also makes a difference. In 2020 many trees still had green leaves, which were bringing moisture up from the roots. That isn’t the case this year. The lower moisture content in the wood should help protect the trees from frost damage.
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HOLIDAY CAROL SING IN ASPEN WITH ALAN FLETCHER
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The Aspen Community Church, in partnership with the Aspen Music Festival and School, presents the 2025 Carol Sing featuring Alan Fletcher, the Munroe President and CEO of the Aspen Music Festival and School on Wednesday, Dec. 17 at 5:30 p.m. at the Aspen Community Church, 200 E. Bleeker Street. Mr. Fletcher will also share the history behind the holiday carols, Hanukkah songs, and Christmas hymns featured on the program. This event is free and open to all.
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MINTURN'S NEW 'HIGHLANDS' PARCELS TO BE LISTED AT $12 MILLION
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The town of Minturn is preparing to place on the open market one of the crown jewels of its 2024 settlement with a development group that conveyed a large amount of land to the town. Among the parcels obtained in that settlement is a 55-acre site known as the Highlands, west of Hwy. 24, south of the Vail Ski and Snowboard Academy and north of Tigiwon Road/Forest Service Road 707. The site is in the process of being platted into two separate parcels. The town recently approved a listing agreement with Slifer, Smith and Frampton Real Estate to market the parcels. On Wednesday, town attorney Mike Sawyer revealed to the council the details of that listing, saying the total price for the parcels will be $12 million. “They have recommended a breakout between the two parcels — for parcel one, which is the smaller of the two parcels, for $4.8 million and for parcel two, the larger parcel, at $7.2 million,” Sawyer said.
The $12 million figure also happens to be the estimated price tag on a water treatment plant that the town has been in desperate need of since learning that the Battle Mountain developers, which settled with the town for the Highlands parcel and other properties, have no plans to construct the plant for the town. The Battle Mountain entities’ decision not to build the new plant, along with numerous other complaints, formed the basis of the town’s lawsuit against the developer, which began in 2022 and was resolved in 2024. The Town Council is now hoping the sale of the Highlands parcel will offset the cost of the water treatment plant.
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COLORADO'S BIGGEST-EVER ENERGY REBATES HAVE LAUNCHED
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Colorado has just launched the new Home Electrification and Appliance Rebates program, unlocking the biggest rebates that have ever been available for energy-efficiency and electrification upgrades. Rebates are determined by household income relative to your county’s Area Median Income, and the income limits are often higher than you might think. For households below 80 percent AMI, the program covers 100 percent of the qualified project cost up to the maximum. For those between 80 percent and 150 percent AMI, it covers 50 percent up to the maximum.
These upgrades are eligible:
- Cold climate heat pump (heating and cooling): Up to $8,000.
- Heat pump water heater: Up to $1,750.
- Electric stove, cooktop, range or oven: Up to $840.
- Insulation, air sealing and ventilation: Up to $1,600.
- Electrical panel upgrades: Up to $4,000.
- Electric wiring: Up to $2,500.
- Total maximum HEAR rebate: Up to $14,000 per household.
Any qualifying household is also eligible for an additional $4,000 in rebates through Energy Smart Colorado. Combined, these make clean, comfortable, efficient homes far more accessible. Search “AMI” with your county name to see if you qualify. If you do, begin verification on the Colorado Energy Office HEAR Program page (tinyurl.com/2jf9dwd4). Find the list of contractors on that same page. Have an approved contractor complete the work. One of the best parts about this program is that your rebates are deducted directly from your invoice, so you receive the discount at the time of service – not months later. The Home Efficiency Rebates program will launch in early 2026 for whole home energy efficiency improvements in mobile and manufactured homes as well as large multifamily buildings. Erika Brown is regional energy coach for 4CORE. Reach her at erika@fourcore.org.
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GAS PRICES HOLD STEADY IN ASPEN; DROPS SLIGHTLY ELSEWHERE
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Average gasoline prices in Colorado have fallen 9.4 cents per gallon in the last week, averaging $2.39/g today, according to GasBuddy’s survey of 2,158 stations in Colorado. Prices in Colorado are 27.7 cents per gallon lower than a month ago and stand 38.7 cents per gallon lower than a year ago. The national average price of diesel has decreased 5.1 cents compared to a week ago and stands at $3.671 per gallon. The cheapest station in Colorado was priced at $1.69/g Monday while the most expensive was $3.89/g, a difference of $2.20/g. In the Aspen area, regular gas was listed at $4.60 at the Main Street station, $4.16 at the Aspen Business Center, $4.60 at Snowmass, and $3.62 at Woody Creek.
The national average price of gasoline has fallen 5.0 cents per gallon in the last week, averaging $2.90/g today. The national average is down 17.6 cents per gallon from a month ago and stands 7.3 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Historical gasoline prices in Colorado and the national average going back 10 years:
- Dec. 8, 2024: $2.78/g (U.S. Average: $2.97/g)
- Dec. 8, 2023: $2.80/g (U.S. Average: $3.15/g)
- Dec. 8, 2022: $2.99/g (U.S. Average: $3.28/g)
- Dec. 8, 2021: $3.36/g (U.S. Average: $3.35/g)
- Dec. 8, 2020: $2.24/g (U.S. Average: $2.16/g)
- Dec. 8, 2019: $2.85/g (U.S. Average: $2.57/g)
- Dec. 8, 2018: $2.59/g (U.S. Average: $2.42/g)
- Dec. 8, 2017: $2.56/g (U.S. Average: $2.47/g)
- Dec. 8, 2016: $2.02/g (U.S. Average: $2.19/g)
- Dec. 8, 2015: $1.88/g (U.S. Average: $2.02/g)
Neighboring areas and their current gas prices:
- Fort Collins — $2.38/g, down 9.5 cents per gallon from last week’s $2.48/g.
- Colorado Springs — $2.26/g, down 7.7 cents per gallon from last week’s $2.34/g.
- Denver — $2.23/g, down 11.5 cents per gallon from last week’s $2.34/g.
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THE 2026 COLORADO BUSINESS ECONOMIC OUTLOOK
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Colorado’s economy will continue to crawl along next year, with GDP growth strengthening but job gains remaining sluggish as some of the state’s highest-paying sectors shed jobs, according to the 2026 Colorado Business Economic Outlook from the University of Colorado. Adjusting for inflation, Colorado’s economy grew 2 percent last year and an estimated 2.1 percent this year. It is expected to reach a 2.9 percent pace next year. At that pace, state GDP would be close to the historical average of 3 percent a year since 1990. But that stronger growth won’t generate the same number of new jobs as it used to.
- Employment growth in the state was 1.1 percent in 2024, an estimated 0.4 percent this year and the forecast calls for a 0.6 percent gain or 17,500 net new jobs.
- Professional and business services are expected to shed jobs for the third year in a row after peaking at 499,200 jobs in 2023. That sector, the state’s second largest, pays well, with an average annual wage of $137,574.
- Information, which includes many types of tech jobs, has been on a downward trajectory since 2022, going from 79,400 jobs to 71,900 this year and a forecast of 71,700 next year. The sector pays even more than professional and business services, with an average annual wage of $157,434, but it is also highly susceptible to AI taking over tasks.
- Going back to 1990, Colorado’s population gains averaged 75,000 people a year or a 1.5 percent growth rate, with most of that growth coming from people relocating to Colorado from other states — domestic net migration. Since the pandemic, Colorado’s domestic migration has evaporated. As more time passes, it looks like a new normal rather than an aberration.
- Last year, domestic net migration was around 5,400 after averaging around 35,000 in the prior three decades. In 2023 and 2024, strong international migration covered the gap, enough to bring the state back to pre-pandemic levels of population growth. But immigration policies have become much more restrictive, even for highly skilled tech workers.
- Colorado’s population is expected to grow by 33,200 this year and 35,100 next year. If more people start to self-deport, something the Trump administration is actively encouraging, then it is possible that population gains could come down to the “natural” rate of increase, births minus deaths, which is just under 20,000 people a year.
- Fewer available workers will tighten the job market despite weak job gains. The Outlook calls for the state’s unemployment rate to fall from 4.5 percent this year to 4.1 percent next.
- International visits are expected to drop 5 percent this year and to remain soft in 2026, which will hit the state’s leisure and hospitality sector. Weaker tourism and tighter household budgets could end a five-year streak of annual job gains in that sector in 2026.
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MARKET UPDATE - 12/08/2025 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 12/4/2025)
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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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