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Colorado - Wed. 06/17/26 |
A Free Business Publication from Alpine Bank
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COLORADO HAS A PLAN TO ENSURE A MORE ACCURATE CENSUS COUNT IN 2030
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Colorado has a census problem, and it’s costing the state millions of dollars in federal funding and adequate political representation. The state is partnering with nonprofits to find a solution before the 2030 census. In May, the Colorado State Demography Office released its 2030 Census Strategic Action Plan. The document outlines the state’s approach and challenges encountered during the 2020 census, using those lessons to develop recommendations for a more accurate count in 2030. The aim is to achieve more participation from undercounted communities that oftentimes face unique barriers to participating in the census collection. Communities Lead Communities Thrive is a statewide coalition of nonprofits working to break down barriers to state grant funding for organizations serving historically underrepresented communities, including those in rural and Western Colorado.
The State Demography Office estimates that federal funding tied to census data totaled $2,300 per resident in 2016. That means that even if 1,000 Colorado residents were to be undercounted in a census year, that would be a loss of roughly $2 million for a state that has already faced annual budget shortfalls for two consecutive years. Communities Lead Communities Thrive is launching “Roadmap to 2030: Census Listening Sessions” this summer to bring together nonprofit leaders and community organizations from across the state to share insights on how to improve census outreach and participation, particularly among historically undercounted and hard-to-count communities. The findings from the sessions will be included in Communities Lead Communities Thrive’s fall report, which will provide a “landscape analysis” for the state’s readiness heading into the 2030 Census.
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BOULDER TECH COMPANY RAISES $100 MILLION
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Atom Computing, a Boulder technology company, has raised $100 million in Series C funding, which it will use to scale its technology and expand its offices and staff. The company, which has about 130 employees, is expanding each of its teams using the fundraising round. It’s also expanding its leased space in Boulder and opening up more labs. Atom Computing is one of several companies in the area in the race to scale quantum computing, which promises to exponentially increase computing power by using a physics process different from the ones and zeros of binary computing. Atom Computing uses neutral atoms to solve complicated problems via qubits, a unit of quantum information. Atom currently occupies a 40,000-square-foot facility in Boulder with over 85 employees based there. It plans to use the fundraising round to expand its total employee count by 50 percent — about 62 employees — and more than double its physical U.S. footprint.
Last July, it announced it sold one of its computing systems — part of a partnership with Microsoft and billed as the world’s most powerful quantum computer — to a public-private partnership between the Danish Sovereign Wealth Fund and the Novo Nordisk Foundation called QuNorth for an undisclosed price. That meant Atom set up an office in Copenhagen to deliver the product and establish a foothold in Europe. The Denver area, one of the nation’s regional hubs for quantum development, has seen considerable activity this year. Atom Computing, Quantinuum and Louisville-based Infleqtion each received letters of intent from the U.S. Dept. of Commerce signaling an interest in investing $100 million each in exchange for a minority, non-controlling equity stake in the companies.
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SPACEX'S $60 BILLION DEAL TO BUY CURSOR GIVES IT MORE AI CODING POWER
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SpaceX said it would buy Cursor parent Anysphere for $60 billion, striking a massive deal for an autonomous coding agent that could help the company catch up with its AI rivals after its blockbuster IPO. Cursor will receive $60 billion worth of SpaceX stock under the agreement, according to a filing released Tuesday. The deal comes days after SpaceX’s historic public offering Friday. SpaceX’s market value is around $2.66 trillion after its shares rose 19 percent in their first day of trading, 20 percent on Monday and around 5 percent on Tuesday. The stock’s pop vaulted SpaceX’s market value over Amazon’s on Tuesday, putting it in the top five most valuable U.S. public companies. Cursor Chief Executive Michael Truell said the deal with SpaceX would help it advance its frontier AI capabilities “with the goal of building the world’s most useful AI models.”
Cursor kicked off the “vibe-coding” era and already brings in billions of dollars in annualized revenue. It was started by four MIT graduates in 2023 as an encrypted-messaging startup but has expanded into AI coding tools. Cursor makes a tool that allows developers to toggle between different AI models, from OpenAI and Anthropic to xAI and Google and others. The company competes with Anthropic’s Claude Code and OpenAI’s Codex, which can write code, debug software and automate tasks. SpaceX’s deal for Cursor is expected to close in the third quarter of 2026.
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LONGRANGE CAPITAL WILL BUY PIZZA HUT'S OPERATIONS OUTSIDE MAINLAND CHINA FOR ABOUT $1.5 BILLION
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Yum Brands on Tuesday said it struck a $1.5 billion deal to sell the bulk of the pizza chain’s global operations to private-equity firm LongRange Capital. Yum China Holdings agreed in a separate deal to acquire Pizza Hut’s mainland China business for $1.2 billion. Yum, which has operated the 68-year-old Pizza Hut brand since the late 1990s, said it would focus on its better-growing Taco Bell and KFC brands. Pizza chains’ sales growth has run behind the larger fast-food industry for several years, and pricing battles have cut into profit margins. Beyond Pizza Hut, Papa John’s and the parent of Papa Murphy’s have also been considering sales or other strategic options. In the U.S., Pizza Hut is the second-largest pizza-restaurant operator behind Domino’s, with about 6,300 stores and $5.1 billion in domestic sales last year. Pizza Hut’s U.S. sales have fallen for roughly two years, and Yum has said it would close around 250 underperforming U.S. units this year.
Pizza Hut traces its roots to 1958, when Frank and Dan Carney borrowed $600 from their mother to open the first location in Wichita, Kan., naming it in honor of their boxy building. Pizza Hut’s business has fared better in China, where Yum said it is the largest casual dining brand in the country, with $2.3 billion in sales last year. The chain operates 4,375 restaurants in China and offers a novel range of pizzas, along with steak and pasta. But competition for food delivery is cutthroat in the country, contributing to costs. Yum China, which operates as a separate company, said acquiring Pizza Hut’s China business will help the company develop its menu, stores and operations. Yum said the deals are expected to close in the third quarter.
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HOUSING INVENTORY HIGH: LATEST BRAY REPORT
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Mesa County’s housing market saw more property for sale last month than in any May since 2017, according to the latest market report from Bray & Co. Real Estate.
- The trend is driven by a few factors, one of which is slumping sales: the area saw 249 residential closings last month, per the report, a decrease of 15.3 percent compared to the 294 properties sold in May of 2025, and an increase of just 0.4 percent — a single sale — compared to April of 2026.
- This year’s May closings also followed longer waits on the market: a median of 63 days this year compared to 54 last year. Again, the number was close to the month prior in 2026, with April seeing a median market time of 64 days.
- Active listings also continue to rise. A total of 832 residential properties were on the market, as of June 12, 2026. It’s the highest number recorded in May since 2017, when 891 residences were up for grabs.
- Construction appears to be slowing, however, with only 52 single-family permits issued by Mesa County in May of this year, compared to 71 last year.
- Year-to-date, the market continues to lag behind 2025 numbers. The business’ report at this time in 2025 showed 1,174 sales to date, while 2026’s latest update logged a total of just 1,054 closings, a 10.2 percent decrease.
- Year-to-date sale volumes are also lower, falling from $538.8 million last year to $487.1 million this year. That’s not to say home prices fell — the opposite is true, in fact. The median value of closings in May of 2026 was $423,500. The number represents fairly steady growth, compared to $421,250 in May of 2025 and $410,500 in April of 2026.
- The trends don’t hold true at every price point, however. Homes in the $200,000 to $399,999 price range sold fast last month, with roughly 2 months of inventory available by the end of May. Compare that to the $500,000-$749,000 range, where the current inventory sat around 4.5 months, or to luxury properties worth more than $1.25 million, with about a year’s worth of inventory available.
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ROCKY MOUNTAIN CHOCOLATE FACTORY SHAREHOLDER SELLS PORTION OF STOCK AMID DECLINING NUMBERS
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Despite Rocky Mountain Chocolate Factory reporting notable losses in revenue, one of the company’s largest shareholders said he still has faith in its long-term success – even as he offloads some of his own shares. RMCF’s fiscal Q4 earnings report reflected a loss of $3.4 million overall, a loss of 38 cents per share and a 23.6 percent year-over-year revenue decline. Meanwhile, Al Harper and American Heritage Railways – two of the company’s interconnected, reigning shareholders – sold nearly 190,000 shares over about three months, reducing the investor group’s stake from 13 percent in 2024 to around 8.7 percent by May.
According to a recent schedule 13D filed by American Heritage Railways, Harper has sole control over 1,911 personal shares in addition to shared control over 810,459 shares owned by American Heritage Railways, meaning even after the sales, the investor group still acts as a significant shareholder with more than 800,000 shares owned. Most stocks sold between February and May went for around $2.60 per share. According to the filing, the sales were made for portfolio management and investment reasons.
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RIDERS FROM AROUND THE WORLD TO COMPETE IN SBT GRVL JUNE 28
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Steamboat Springs’ renowned annual gravel cycling race, SBT GRVL, is fast approaching. The weekend of activities, culminating with SBT GRVL on Sunday, June 28, celebrates gravel cycling, community and summertime. “What makes SBT GRVL special is that it’s much more than a bike race,” said Amy Charity, CEO and founder of SBT GRVL. “Every year riders travel from around the world to experience the roads, scenery, hospitality and energy that make Steamboat Springs one of the most iconic destinations in gravel cycling.” Activities kick off Friday, June 26, when 80 vendors, bands, sponsors and programs will line Yampa Street. Races kick off that evening at Steamboat Resort with the Friday Night MTN CLMB where riders will compete in head-to-head prologue sprints for a $1,000 prize.
Festivities continue Saturday with yoga, an art and agricultural event, a toddler bike race and petting zoo. In addition, the inaugural SBT TRL running race will feature a 5K and 10K, with proceeds benefiting the Steamboat Running Series. Registration is full for Sunday’s SBT GRVL race. The elite men, women and open divisions will start at 6 a.m. on the Black Course, followed by starts on the amateur black, blue, red and green courses. The rides will have aid and support stations and will finish on Yampa Street. A schedule for the entire weekend is at sbtgrvl.com/weekend-activities-2026.
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ROUTT COUNTY COMMISSIONERS APPROVE ORDINANCE RESTRICTING OPEN FIRES DURING HIGH FIRE DANGER
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Routt County commissioners have approved a new ordinance that will prohibit open fires in unincorporated parts of the county during periods of high fire danger, effective Thursday, June 18. Officials say the measure is aimed at reducing wildfire risk as dry, windy conditions persist throughout the valley. The rule applies when the National Weather Service issues red flag warnings, fire weather watches, high wind watches or high wind warnings. The Routt County sheriff has the authority to declare a temporary fire ban immediately, without waiting for commissioner approval. If that happens, Stage 2 fire restrictions will automatically go into effect for the duration of the weather alert and end when the warning expires.
County officials said the change comes as Routt County faces Extreme to Exceptional drought conditions, which can make it easier for fires to start and spread quickly. Under the ordinance, residents are responsible for checking whether restrictions are in place before lighting any open fire. To confirm current conditions, call Routt County Communications at 970-879-1110, visit online at co.routt.co.us/158/Wildfire, or sign up for weather alerts through RouttCountyAlerts.com. All open burns, including agricultural burns, still require advance notice to Routt County Communications. Officials urge members of the public to remain vigilant and take proper precautions to mitigate wildfire risk during such drought conditions.
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SKYLINE CINEMA MANAGER CONFIRMS PLAN TO SELL THEATER
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A development company announced plans in March to build a housing development on the current site of the Skyline Cinema in Dillon, and the manager of the theater confirmed that the cinema plans to sell and close. Manager David Blake said the sale and closure are not guaranteed, as the development plan is still in its early stages. He added that, if the development does proceed, the theater would like to continue operating as long as possible. “We’re hoping that they’ll let us keep running until they’re actually ready to do something with the property, so it’s not going to be another, like, Arapahoe Cafe, where it’s just gonna be an empty building sitting there,” Blake said.
The Arapahoe Cafe & Pub operated out of a small building on the Best Western Ptarmigan Lodge lot in Dillon until 2023, when it closed due to uncertainty of what would happen to the lot. Developer Jake Porritt had proposed a redevelopment of that lot and several others in Dillon, and the cafe’s owners wrote in a Facebook statement announcing the closure that they had not received answers to their questions and did not want to be “blindsided” by the development process.
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ALPINE BANK WEALTH MANAGEMENT’S BROOKE SANFILIPPO AWARDED PRESTIGIOUS CFA ACHIEVEMENT
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Alpine Bank Wealth Management Assistant Vice President Brooke Sanfilippo has officially earned the prestigious Chartered Financial Analyst (CFA) designation, one of the most respected and globally recognized credentials in the investment management profession. The CFA designation is awarded by the CFA Institute and requires candidates to pass a rigorous series of three exams. Candidates must demonstrate extensive knowledge in areas such as investment analysis, portfolio management, ethics, and financial reporting, and complete several years of qualified professional experience. Fewer than 20 percent of candidates who begin the program ultimately earn the charter, underscoring the significance of this achievement.
As a CFA charterholder, Sanfilippo joins a global community of investment professionals committed to the highest standards of ethics and professional excellence. This accomplishment enhances her ability to serve clients, support strategic decision‑making, and contribute to the continued growth of Alpine Bank Wealth Management. The team of professionals at Alpine Bank Wealth Management represents over 300 years of combined experience in banking, tax accounting, trust and investment management services. Their expertise, longevity and personalized approach ensure that your assets are well-protected and have room to grow. To learn more about Sanfilippo and Alpine Bank Wealth Management, visit the link below.
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SNOWBOARDING PIONEERS FILL COLORADO SNOWSPORTS HALL OF FAME'S 2026 CLASS
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With its recently announced class of 2026, Colorado Snowsports Hall of Fame is celebrating the history and evolution of snowboarding. The induction ceremony is set for Oct. 10 at Beaver Creek’s Vilar Performing Arts Center. Most of the six inductees helped shape the sport along with the very boards that remain industry standards.
- Never Summer Snowboards, which manufactures in Denver more than 40 years after brothers Tim and Tracey Canaday tested homemade boards around Berthoud Pass. They are two of the new Hall of Fame members whose legacies stretch back to the 1980s.
- Also back then, Jeffrey Grell “helped transform the sport of snowboarding from a fringe activity into a widely adopted discipline,” reads the Hall of Fame announcement. His “Hyback” invention ー a high-back binding made from modified ski boot cuffs ー was proven in Aspen, where Grell served as the resort’s first director of snowboarding, wrote industry-wide instructions and organized early competitions.
- Along that early competitive circuit, Chris Pappas grew his legend. Colorado Snowsports Hall of Fame calls him “a pioneer” who “helped define and break boundaries.” He is also regarded as “an evangelist of early Colorado snowboarding, working with ski areas to open their minds and lifts.” Pappas would go on to coach “and 50 years later, is still moving snowboarding forward,” the Hall of Fame announcement adds. “There is no person in Colorado, and maybe the world, who has personally affected as many riders as possible, or has been a greater advocate of the possibilities and joy of snowboarding than Chris.”
- Trent Bush, too, is credited for spreading that joy over a career spanning four decades. “As a teenager, he drove the sport’s early growth through Wave Rave Boulder, organizing landmark snowboarding events,” according to the Hall of Fame. He’d go on to oversee product design “at the highest levels of performance” with various roles at Mountain Hardware, Black Diamond and Spyder, among other top brands.
- Alan Henceroth rounds out this year’s Hall of Fame class. Since 2005, he’s been chief operating officer at Arapahoe Basin Ski Area, where he started as ski patrol director in 1988. The Hall of Fame announcement notes “his strengths in financial management, planning and team leadership” and praised him for “creating a culture of a rad work environment that is the envy of the industry.”
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MARKET UPDATE - 06/16/2026 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 06/11/2026)
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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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