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Colorado - Thu. 01/22/26 |
A Free Business Publication from Alpine Bank
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WHY ARE COLORADO HOME PRICES SO HIGH? LOOK DOWN
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Colorado’s high home prices are driven in large part by soaring land values, which rose 174 percent between 2012 and 2022, far outpacing overall inflation and ranking the state seventh nationally for residential land costs, according to a study by Cinch Home Services. Residential land in Colorado averaged $942,200 per acre in 2022, up from $343,800 a decade earlier, reflecting intense competition, limited supply and concentrated investment. Boulder was the most expensive market studied at $1.69 million per acre, followed by Edwards at $1.6 million and Denver at $1.2 million, while Montrose and Pueblo ranked among the least expensive.
The analysis, based on Federal Housing Finance Agency data for metro areas with at least 10,000 residents, excluded ultra‑high‑end enclaves such as Aspen and Vail. Although the estimates are somewhat dated, most Colorado housing markets have remained stable since 2022. Over the same period, consumer prices in metro Denver rose 27.4 percent, meaning residential land inflation ran about 6.3 times faster. Land also accounted for a growing share of property values statewide, increasing from about 35 percent in 2012 to nearly 40 percent in 2022.
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CHINESE EVS BLOW PAST TESLA & TARIFFS EN ROUTE TO GLOBAL REIGN
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Chinese electric‑vehicle makers led by BYD are rapidly expanding overseas, overtaking Tesla as the world’s largest EV seller and gaining ground despite tariffs and political resistance. BYD delivered more than one million vehicles outside China in 2025, more than double the prior year, as China shipped 7.1 million vehicles globally and cemented its position as the world’s top auto exporter. Chinese brands now hold roughly 7 percent of Western Europe’s auto market, selling more than 500,000 vehicles in the first three quarters of 2025, pressuring incumbents such as Volkswagen on their home turf. Governments in the U.S., European Union and Mexico have imposed tariffs or restrictions, but demand continues to grow, driven by competitive pricing, advanced technology and expanding dealer networks.
BYD plans to have 2,000 European dealers by the end of 2026, up from 284 at the end of 2024, and is building factories in countries including Hungary, Turkey and Indonesia to sidestep trade barriers. Overseas growth has helped offset intense competition and overcapacity at home, though BYD reported two consecutive quarters of falling profit as it sold 4.6 million vehicles globally last year, short of its target.
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IF YOU WERE INSPIRED BY THE NORTHERN LIGHTS, YOU’RE NOT ALONE
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A powerful solar radiation storm this week sent vivid displays of the aurora borealis across North America and Northern Europe, renewing fascination with a phenomenon that has inspired humans for thousands of years. Scholars have traced depictions of the northern lights to prehistoric cave art, ancient religious texts and myths across cultures. Inuit traditions described the lights as torches lit by spirits guiding the dead, while some Indigenous Siberian cultures viewed them as signs of childbirth. Ancient Chinese records from 2,600 B.C. linked the lights to conception, and Greek and Roman writers, including Plutarch and Seneca, marveled at their movement and shifting colors. Galileo named the aurora borealis in the 17th century after the Roman goddess of dawn, and Edmond Halley later connected the phenomenon to Earth’s magnetic field, a theory confirmed by modern science.
Artists and writers have long drawn inspiration from the lights, including Frederic Edwin Church’s 1865 painting “Aurora Borealis” and Herman Melville’s poem of the same name, written as the Civil War ended. In more recent decades, musicians and architects have also celebrated the aurora, from popular songs to Norway’s Northern Lights Cathedral, designed to echo the swirling shapes of the sky’s luminous display.
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COLORADO CONFIRMS NO WOLF RELEASES THIS WINTER AFTER FEDERAL BLOCK
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Colorado will not release additional gray wolves this winter after federal officials halted a planned relocation from Canada, a move that could delay the state’s goal of establishing a self‑sustaining wolf population. Colorado Parks and Wildlife said it has no plans for releases this season and is instead exploring options for next winter after the U.S. Fish and Wildlife Service under the Trump administration said importing wolves from Canada would violate a legal agreement with the state, reversing previous federal approval. CPW had planned to capture up to 15 wolves from British Columbia this winter, after releasing 15 Canadian wolves last year. Federal officials later demanded documents related to the program and threatened to revoke the state’s management authority if information was not provided.
The pause comes as wolf deaths continue: 11 of the 25 wolves released so far have died, including a female found dead last week in northwest Colorado. Nineteen collared wolves remain in the state, along with at least 10 pups born last summer. CPW officials and wildlife advocates warned that skipping a year of releases could increase the risk of failing to build a self‑sustaining population.
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SOUTHWEST COLORADO YAKS OFFER HEALTHY, ECO‑FRIENDLY BEEF ALTERNATIVE
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Yak ranching is gaining popularity in Southwest Colorado and across North America as producers and chefs point to the animals’ low‑fat meat, environmental benefits and cultural roots. At Wilderness Farms west of Breen, Ryan and Elise Heck raise a herd of 27 yaks after becoming interested in the animals in 2023, selling meat online and at the Bayfield farmers market. Yaks, which evolved on the Tibetan Steppe and were introduced to North America in the late 1800s and early 1900s, are well suited to cold, high‑elevation environments and retain half‑wild traits that help protect calves from predators. Ranchers say yaks prefer cold weather, calve in winter and require lower‑stress management than cattle.
Yak meat is described as darker, sweeter and leaner than beef, with less fat and cholesterol, and is featured at Durango’s Himalayan Kitchen, where owner Karma Bhotia sources meat from local ranchers and highlights its cultural importance in Tibetan and Himalayan communities. The Hecks say yaks produce less methane than cattle, compact soil less because of their lighter weight and fit well into rotational grazing systems, making them a more environmentally friendly beef alternative.
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COLORADO‑BASED ENERGY FUELS ACQUIRING AUSTRALIAN RARE‑EARTH PRODUCER FOR $299 MILLION
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Energy Fuels Inc. announced it will acquire Australian Strategic Materials in a $299 million deal aimed at building one of the largest fully integrated rare‑earth supply chains outside China. The Lakewood‑based company said the acquisition would combine its rare‑earth oxide production at the White Mesa Mill in Utah with ASM’s Korean Metals Plant and planned American Metals Plant, creating a “mine‑to‑metal and alloy” operation serving automotive, energy, robotics and defense markets. The transaction, which requires approval from ASM shareholders and Australian regulators, is intended to reduce reliance on China, which controls roughly 70 percent of global rare‑earth mining and more than 90 percent of processing.
Energy Fuels said the deal would strengthen non‑Chinese supply chains for magnets and advanced technologies while expanding downstream metal and alloy manufacturing capacity. The White Mesa Mill, the only fully licensed conventional uranium mill operating in the U.S., has been repositioned in recent years to process rare‑earth materials alongside uranium and vanadium. The acquisition also includes ASM’s Dubbo Rare Earth Project in Australia, supporting future feedstock supply. Energy Fuels expects the transaction to close in late June 2026, pending approvals.
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ASPEN SALES TAX INCREASE GOES INTO EFFECT
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Aspen’s total sales tax increased to 10.35 percent on Jan. 1, up from 9.3 percent, following voter approval of three separate ballot measures in the November 2025 election supporting wildfire mitigation, public education and early childhood education. The 1.05 percent increase means a $100 purchase now carries $10.35 in sales tax. The largest share came from ballot issue 6A, a 0.5 percent tax approved by 75 percent of voters to fund the Aspen Fire Protection District’s wildfire mitigation and response efforts, including staffing, equipment and early detection technology.
Voters also approved issue 2A, which doubled Aspen’s sales tax contribution to the Aspen School District from 0.3 percent to 0.6 percent, generating an estimated $4.75 million in 2026 and addressing funding challenges tied to changes in the state’s school finance formula. The third measure, issue 7A, added a regional 0.25 percent tax across Pitkin and Garfield counties and part of Eagle County to support early childhood education, with essential goods exempt. Of Aspen’s total sales tax, 2.7 percent comes from city taxes, with the remainder split among Pitkin County, the state, the fire district, the Roaring Fork Transit Authority and the regional early childhood district.
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PALISADE BLUEGRASS & ROOTS FESTIVAL ANNOUNCES 2026 LINEUP
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The Palisade Bluegrass and Roots Festival has unveiled its 2026 lineup, bringing three days of national touring acts, Colorado favorites and genre‑bending performers to Riverbend Park along the Colorado River from June 5-7. The long‑running festival, founded in 2009, will feature Daniel Donato’s Cosmic Country headlining Friday, Andy Frasco & The U.N. on Saturday and Austin‑based roots supergroup Shinyribs closing the weekend Sunday. Additional performers include the Queen Bees Band, Stillhouse String Band, the Slocan Ramblers, RapidGrass, Chaparelle, Southern Avenue and more. Organizers continue to emphasize musicianship over strict genre boundaries, blending bluegrass, roots, jam, soul and Americana influences.
The scenic riverside venue offers views of mesas, orchards and vineyards, with camping permitted only during the festival weekend. Musicians and fans alike praise the event for its intimate setting and early‑summer atmosphere, which has helped make it a staple of Colorado’s festival calendar. For more information, visit palisademusic.com.
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RETAILERS & BANKERS IN COLORADO’S MOUNTAIN TOWNS ADJUST TO LIFE WITHOUT NEW PENNIES
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Two months after the U.S. Mint suspended production of new pennies, banks and businesses across Colorado’s mountain communities say the change has had little immediate impact, largely because cash transactions continue to decline. The Mint ended penny production in November, citing rising costs that reached 3.69 cents per coin and projected annual savings of about $56 million. While pennies remain legal tender and roughly 114 billion are still in circulation, some banks are limiting bulk penny requests and conserving existing supplies amid limited federal guidance.
Businesses are responding in different ways, including asking customers for exact change or rounding cash transactions to the nearest five cents under practices outlined in the proposed Common Cents Act. Many retailers say digital payments dominate, minimizing disruption, while some cash‑heavy operations such as food trucks, cannabis dispensaries and laundromats had already adopted rounding or tax‑included pricing. For now, bankers and business owners describe the penny shortage as more a topic of curiosity than a crisis, with larger operational changes likely dependent on future consumer behavior and federal direction.
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SILVERTHORNE ACCEPTING APPLICATIONS FOR 2026 BUSINESS GRANT PROGRAM
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The town of Silverthorne has opened applications for its 2026 Business Improvement Grant Program, setting aside $40,000 to support local businesses through competitive grants of up to $10,000 each. Established in 2012, the program has awarded funding to more than 80 Silverthorne businesses and is designed to support site enhancements or capital projects that create jobs or provide other economic development benefits. Grant requests that include matching funds from the applicant business are generally given preference. Applications are due by 4 p.m. on Friday, Feb. 27, 2026, and awards will be made under the direction of the Silverthorne Town Council. More information and the application can be found at Silverthorne.org/businessgrant.
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YELP’S TOP 100 RESTAURANT LIST HAS LITTLE COLORADO RECOGNITION
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Colorado earned just three spots on Yelp’s annual list of the 100 best places to eat in the United States, underscoring the state’s limited presence on the review site’s 13th‑year ranking. Yelp weighs both review volume and overall customer ratings when assembling the list. The top restaurant nationwide for 2026 was Ci Siamo, a modern Italian restaurant in New York City. The list, released Wednesday and compiled by Yelp’s editorial staff using aggregated reviews, ratings and other data, included the following Colorado restaurants:
- Leven Deli (123 W. 12th Ave., Denver), ranked No. 13: Leven Deli has previously been named Denver’s best‑reviewed restaurant by Yelp’s elite users.
- Alma Fonda Fina (2556 15th St., Denver), ranked No. 40: Alma Fonda Fina is led by chef Johnny Curiel, who is expanding his Denver footprint with new concepts this year.
- Golden Banh Mi (2648 S. Parker Rd. #1, Aurora), ranked No. 99: Golden Banh Mi has been praised by Denver Post editors for its hearty, affordable sandwiches, including its popular Kim‑Cheese steak.
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COLORADO HAS 17 JAMES BEARD SEMIFINALIST NOMINATIONS
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The James Beard Foundation released the list of chefs and restaurateurs who are semifinalists in the annual James Beard Awards, which celebrate the best restaurants, bakeries and bars in America. About a dozen semifinalists hail from Colorado, including Tommy Lee, chef and owner of Denver’s Uncle ramen restaurants, Chinese restaurant Hop Alley and Aurora’s Molino Chido. Lee is up for outstanding restaurateur.
The other names and locations up for national awards are:
- Josh Niernberg of Bin 707 Foodbar, Grand Junction (Outstanding Chef)
- Kizaki, Denver (Best New Restaurant)
- Poulette Bakeshop, Parker (Outstanding Bakery)
- Emily Thompson of The Wolf’s Tailor, Denver (Outstanding Pastry Chef or Baker)
- Restaurant Olivia, Denver (Outstanding Hospitality)
- Lady Jane, Denver (Outstanding Bar)
- Van Atta, Telluride (Best New Bar)
- Ryan Fletter of Barolo Grill, Denver (Outstanding Professional in Beverage Service)
- McLain Hedges and Mary Allison Wright of Yacht Club, Denver (Outstanding Professionals in Cocktail Service)
The following Colorado chefs are up for best chef in the mountain region, which includes picks from Idaho, Montana, Utah and Wyoming:
- Theo Adley of Marigold, Lyons
- Johnny Curiel of Alma Fonda Fina, Denver
- Dave Grant and Rocky Hunter of Gladys, Edgewater
- Miles Odell of Odell’s Bagels, Denver
- Bo Porytko of Molotov Kitschen + Cocktails, Denver
- Kenneth Wan of MAKfam, Denver
- Penelope Wong of Yuan Wonton, Denver
Last year, Boulder’s Frasca Food and Wine won the foundation’s top honor for Outstanding Restaurant, the only prize awarded to Colorado’s nominees. The final nominees for awards will be whittled down and shared on Tuesday, March 31. The James Beard Foundation will announce award winners Monday, June 15 at the Lyric Opera of Chicago. See the full list of semifinalists at jamesbeard.org.
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MARKET UPDATE - 01/21/2026 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 01/15/2026)
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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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