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Colorado - Fri. 03/06/26 |
A Free Business Publication from Alpine Bank
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COLORADO WINTER STORM WARNING ISSUED AS FORECAST STRENGTHENS FOR MOUNTAINS
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A strengthening winter storm is expected to bring significant snowfall and hazardous travel conditions to Colorado’s high country from early Friday through late Friday night, according to a winter weather warning issued by the National Weather Service. Forecasters said between 6 and 14 inches of snow could accumulate near the Continental Divide north of Fairplay, with the highest totals likely in the Medicine Bow Range, Summit County mountains, the Mosquito Range, the Indian Peaks and Rocky Mountain National Park. OpenSnow forecasts call for up to 13 inches at Snowmass, Powderhorn and Echo Mountain, while Winter Park, Beaver Creek, Aspen Mountain, Breckenridge, Eldora, Steamboat and Vail are expected to receive 10 to 11 inches.
Winds could gust up to 40 miles per hour Friday, compounding travel impacts during the morning and evening commutes. The storm arrives after record warmth left Colorado’s snowpack in the zeroth percentile statewide, and officials warned travelers to prepare for difficult conditions and check road updates through CoTrip.org or by calling 5 1 1.
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IKON PASS ADDS CASH-BACK REFUNDS, EXPANDS ACCESS FOR 2026–27
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Alterra Mountain Co. will put 2026–27 Ikon Passes on sale March 12, introducing a full cash-back refund option for the first time as it seeks to reassure skiers after a winter marked by poor snow conditions. The Ikon Pass will start at $1,399 without renewal discounts, a 5.3 percent increase from last year, while the Ikon Base Pass will begin at $949, up 4.4 percent. Pass holders who do not scan their pass by Jan. 15, 2027, will be eligible for a 100 percent refund, while those who scan once by that date can receive 50 percent back. The new season also expands access, granting Ikon Base Pass holders unlimited skiing at Arapahoe Basin and five days at Aspen Snowmass for the first time, while Ikon Pass holders will no longer need reservations at Aspen Snowmass. Alterra is also targeting younger skiers with a new Squad Pack option for ages 23 to 28, offering discounted group pricing on Ikon Base Passes.
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COLORADO’S OUTDOOR ECONOMY GROWTH SLOWS AFTER PANDEMIC BOOM
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Colorado’s outdoor recreation economy continued to grow in 2024 but at a slower pace than in recent years, falling behind national averages after previously outperforming the country, according to new federal data. The industry grew 3.6 percent last year and contributed nearly $18 billion to the state’s economy, but that growth trailed the national average of 4 percent and caused Colorado to slip from 12th to 32nd among states for outdoor economy growth. Employment in the sector also declined 0.1 percent, even as outdoor recreation jobs nationwide increased 1.1 percent.
Despite the slowdown, Colorado remains the 10th largest outdoor economy in the nation and continues to lead by a wide margin in winter recreation, which generated nearly $1.6 billion in 2024. Industry leaders said inflation, higher interest rates, business uncertainty and changing consumer behavior are tightening margins, while the data does not yet reflect 2025 conditions, including record low snowpack that is already raising concerns for ski resorts and mountain communities.
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U.S. STOCKS FALL AS OIL PRICES SURGE ON IRAN CONFLICT
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U.S. stocks fell sharply Thursday as oil prices jumped to their highest levels in more than a year, rattling markets amid escalating conflict involving Iran and growing fears of global economic disruption. The Dow Jones Industrial Average dropped 1.6 percent, or 785 points, while the S&P 500 fell 0.6 percent and the Nasdaq Composite declined 0.3 percent. U.S. crude oil surged 8.5 percent to $81.01 a barrel, its biggest one day gain since 2020, while Brent crude climbed above $85 a barrel. The rally followed the de facto closure of the Strait of Hormuz, which has trapped thousands of ships and forced Gulf producers to cut output, threatening nearly one fifth of global oil and liquefied natural gas supplies. Treasury yields rose for a fourth straight session as higher energy prices clouded expectations for near term interest rate cuts, while shares of chipmakers wavered after reports of potential new U.S. restrictions on AI chip exports.
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TRUMP NOMINATES KEVIN WARSH TO LEAD FED, SETTING UP SENATE FIGHT
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President Donald Trump on Wednesday formally nominated Kevin Warsh to serve as chairman of the Federal Reserve, transmitting the nomination to the Senate more than a month after first announcing his intent. Warsh, a former Fed governor, would replace Jerome Powell for a four year term if confirmed. The nomination faces immediate uncertainty after Sen. Thom Tillis of North Carolina said he would block Senate consideration until a federal criminal investigation of Powell is dropped. Powell disclosed in mid January that he is under investigation related to a $2.5 billion renovation of the Fed’s Washington headquarters and his testimony to Congress and said the threat of charges stems from the Fed’s refusal to meet Trump’s demands for faster interest rate cuts. Trump has previously sought to remove Fed officials who opposed his rate policies, including Gov. Lisa Cook, whose attempted firing remains under Supreme Court review.
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SIX FLAGS TO SELL SEVEN AMUSEMENT PARKS IN $331 MILLION DEAL
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Six Flags Entertainment has agreed to sell seven of its regional amusement parks to EPR Properties for $331 million in cash, a move the company says will simplify its portfolio and strengthen its balance sheet. Chief Executive John Reilly said the divestiture aligns with Six Flags’ strategy to focus capital and leadership on properties with the strongest returns and long-term growth potential. The parks being sold collectively hosted about 4.5 million guests last year and generated roughly $260 million in net revenue, according to the company, which plans to use the proceeds to pay down debt.
The transaction includes Valleyfair in Minnesota; Worlds of Fun in Missouri; Michigan’s Adventure; Schlitterbahn Waterpark Galveston; Six Flags St. Louis; Six Flags Great Escape in New York; and Six Flags La Ronde in Montreal. EPR Properties said it expects the deal to close by early in the second quarter, with U.S. parks operated by Enchanted Parks and the Canadian park leased to La Ronde Operations, while retaining the Six Flags brand through the end of the year.
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PITKIN COUNTY OPENS 2026 BIENNIAL COMMUNITY SURVEY TO GAUGE PUBLIC SENTIMENT
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Pitkin County has opened its 2026 Biennial Community Survey, inviting residents and members of the broader Roaring Fork Valley to share feedback that will help guide county priorities and measure performance against past benchmarks. The survey is being conducted in two phases, beginning with mailed invitations sent to 4,000 randomly selected households that represent a statistically valid sample of county residents. Participants can complete the survey online through a QR code or return a paper version by mail, with responses collected anonymously through a nationally tested survey instrument administered by Polco.
A second phase will open April 7, allowing anyone who lives, works, commutes or visits Pitkin County to participate through an online survey, with those results analyzed separately. County officials said past surveys have directly influenced policy decisions, including public safety resource allocation, transparency improvements and expanded access to meeting records. The survey asks about quality of life, housing affordability, transportation, public safety, environmental quality, recreation, government performance and community engagement, with results to be presented publicly later this year. Residents can learn more and access the open survey later this month at PitkinCounty.com/378/Community Surveys.
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GJ CHAMBER HONORS BUSINESS AND COMMUNITY LEADERS AT ANNUAL BANQUET
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The Grand Junction Area Chamber of Commerce recognized local business and community leaders during its annual banquet last week, themed “Business at Great Depths.” The event brought together business owners, civic leaders and stakeholders from across the Western Slope to celebrate the strength and impact of Mesa County’s business community. Four awards were presented, honoring leadership, economic contribution and community involvement.
- Citizen of the Year Award: Brigitte Sundermann, vice president of CMU Tech
- Large Business of the Year: High Country Beverage
- Small Business of the Year (fewer than 25 employees): Maid2Impress
- Young Professional of the Year: Nick Gumpert
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SKIJORING SET TO TAKE OVER TELLURIDE’S MAIN STREET MARCH 14-15
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Skijoring, a high-speed sport that pairs horseback riders with skiers or snowboarders racing through a timed course, is set to debut on Telluride’s main street the weekend of March 14 15, with organizers confirming the event will move forward despite a low snow winter. Produced by local event organizers Ashley Von Spreecken and Jereb Carter, the free event will run along Colorado Avenue from Willow Street to Pine Street, with additional safety measures in place to protect horses and riders. Crews have stockpiled snow with assistance from the Town of Telluride and Town Park Partners, and a temporary geogrid track layered with sand and snow will be installed to prevent horses from running directly on pavement.
Organizers said the course may be adjusted based on conditions, emphasizing that safety remains the priority. The event is expected to draw visitors and boost local businesses, while celebrating Telluride’s ranching roots alongside its ski culture. Races will take place on March 14 from 11 a.m. to 3 p.m. and March 15 from 10 a.m. to 2 p.m., with a costume contest following Saturday’s races. More information is available at tellurideskijoring.com.
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COLORADO’S OUTDOOR ECONOMY GROWTH SLOWS AFTER PANDEMIC BOOM
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Colorado’s outdoor recreation economy continued to grow in 2024 but at a slower pace, falling behind national averages after several years of outperforming the country, according to new federal data. While the industry remains a major economic driver for the state, the latest figures show softer growth and slight job losses as inflation, higher interest rates and shifting consumer behavior weigh on businesses tied to outdoor recreation.
- Growth rate: Colorado’s outdoor industry grew 3.6 percent in 2024, below the national average of 4 percent, according to the U.S. Bureau of Economic Analysis.
- Economic impact: The sector contributed nearly $18 billion to Colorado’s economy and accounted for about 3.3 percent of the state’s total economic output.
- National ranking: Colorado slipped from 12th to 32nd among states for outdoor economy growth, though it remains the 10th-largest outdoor economy overall.
- Employment: Outdoor recreation jobs in Colorado declined 0.1 percent, while nationwide employment in the sector grew 1.1 percent.
- Winter recreation: Colorado continued to lead the nation in winter activities, generating nearly $1.6 billion in 2024, far ahead of California and Utah.
- Industry pressures: Trade groups cited inflation, interest rates, supply chain challenges and post-pandemic shifts in consumer spending as key headwinds.
- Outlook: The data does not reflect 2025 conditions, including record-low snowpack, though early signs suggest growing concern among outdoor businesses.
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MARKET UPDATE - 03/05/2026 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 03/05/2026)
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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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