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Colorado - Tue. 07/28/26 |
A Free Business Publication from Alpine Bank
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BRONCOS TO PUT HALF-PRICE TICKETS ON SALE TUESDAY
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The Broncos are putting half-price tickets on sale. The team said Monday a “limited inventory” of such tickets for the 2026 season will be available at 10 a.m. Tuesday. It was not revealed how many will be put on sale. Half-price tickets start at $23, and there will be a limit of four per household, with no multiple-game purchases being allowed. Tickets will be delivered to the buyer’s mobile device on the day of the game. Half-price tickets will be ineligible to be re-sold or transferred. For more information, go to denverbroncos.com/tickets.com or contact the Broncos’ ticket office at 720-258-3333.
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COLORADO BANKRUPTCIES JUMP 23% IN JUNE
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Colorado bankruptcy filings increased 23 percent in June compared with the prior year, with a decrease in Larimer County and increases in Boulder, Broomfield and Weld counties. That’s according to a BizWest analysis of U.S. Bankruptcy Court data. Numbers cited include all new filings, including open, closed and dismissed cases. Colorado recorded 890 filings in June, compared with 723 for the same period a year ago. Individual filings totaled 873 in June, up from 715 a year ago. Business filings increased from eight in June 2025 to 17 this year. Year-to-date filings total 4,795, up 17.4 percent from 4,084 through June 2025.
In the Boulder Valley and Northern Colorado:
- Boulder County recorded 36 bankruptcy filings in June, up 20 percent from 30 in the same month the prior year. Boulder County recorded 34 bankruptcy filings in May. Year-do-date filings total 161, compared with 162 through June 025.
- The City and County of Broomfield recorded 10 bankruptcy filings in June, compared with three in the same period in 2025. Broomfield recorded 10 bankruptcy filings in May. Year-to-date filings total 58, up from 55 from a year ago.
- Larimer County filings totaled 49 in June, down 6 percent from 52 the prior year. Larimer recorded 39 bankruptcy filings in May. Year-to-date filings total 242, down 4 percent from 252 through June 2025.
- Weld County bankruptcy filings totaled 68 in June, up 13 percent from 60 the same month a year ago. Weld recorded 78 bankruptcy filings in May. Year-to-date filings total 392, up 16 percent from 338 through June 2025.
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GAMBLING BECOMES AMERICA'S FAVORITE PASTIME AS AMERICANS SPEND MORE ON SPORTS BETS THAN MOVIES, ARTS, MUSEUMS & MUSIC COMBINED
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In 2025, Americans placed roughly $166 billion in bets on sporting events. That’s more than the entire U.S. movie, music, book, and museum industries generated in revenue combined. The North American box office totaled $8.87 billion in 2025. Recorded music revenue hit a record $11.5 billion. Live music like concerts and festivals brought in $18.51 billion. Meanwhile, book publishers tracked by the Association of American Publishers reported $14.6 billion for the year. And the U.S. museum industry generated an estimated $16.4 billion. Add it up and the total comes to roughly $70 billion, which is less than half what Americans wagered on sports. As surprising as that $166 billion figure is, the actual may be even greater, especially because several states permit betting through tribal casinos—most notably Florida, along with Washington and Wisconsin—which are not required to publicly disclose their handle.
Victor Matheson, an economist who studies sports gambling, said Florida alone accounts for somewhere between $5 billion and $10 billion. “The $165 or $170 billion number is low,” he said. That figure also excludes sports wagering flowing through prediction market platforms like Kalshi and Polymarket. That activity could represent another $50 billion-$100 billion in handle. Put together, the true volume of American sports wagering in 2025 could approach $300 billion. The average American adult placed roughly $1,000 in legal bets on sports last year, which translates to roughly $100 in average losses per adult. Matheson argued that the real crisis is the distribution of losses. Losses are not spread evenly across the betting population. Roughly 95 percent of total losses are absorbed by just 5 percent of bettors, a small cohort of heavy users whose spending looks nothing like the casual fan putting $20 on a Sunday parlay. “That is a problem,” Matheson said.
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PHILIP MORRIS OPENS $1.2 BILLION MANUFACTURING CAMPUS IN COLORADO TO GROW ZYN BRAND
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Philip Morris International opened a $1.2 billion manufacturing campus in Colorado, part of the tobacco company’s efforts to expand its Zyn portfolio and meet rising demand for nicotine pouches. Originally announced in 2024 as a $600 million project, the site began commercial production earlier this month, after approximately 19 months of construction. The roughly 780,000-square-foot campus manufactures Zyn nicotine pouches, positioning Aurora as a strategic production and export hub for future growth. Philip Morris has invested about $1 billion in the Aurora campus so far. The company plans to invest an additional $200 million over the next two years in the facility’s next phase of development.
Once fully operational, the facility is expected to generate about $550 million in annual economic impact and support 1,000 indirect jobs. Philip Morris said last week that it would ramp up investments in its U.S. business, aiming to keep Zyn’s spot as the go-to nicotine pouch for Americans. The comments came as the company recorded higher second-quarter sales, led by Zyn pouches, with U.S. shipments increasing 1.8 percent to 2.9 billion. In addition to the company’s new Colorado campus, Philip Morris also has domestic manufacturing facilities in Kentucky and North Carolina.
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COLORADO APPROVES $3.9 MILLION IN INCENTIVES TO ASSIST ALTERRA MOUNTAIN CO.
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The Colorado Economic Development Commission approved a $1 million loan and a $1 million grant to help the Alterra Mountain Co. relocate its corporate headquarters to Upper Downtown. The EDC also approved $1.9 million in Job Growth Incentive Tax Credits tied to the creation of 106 additional headquarters jobs for “Project Odysseus,” the codename given to Alterra. Those jobs are expected to pay an average annual wage of $131,071 a year. Project Odysseus told the state it was also looking at relocating to Salt Lake City. The speed at which the assistance packages came together suggests a genuine concern that it might move. Although Alterra wasn’t named, the $1 million loan with no interest will help fund a $7 million loan from a local agency at 2 percent. Those details align with a $7 million loan that the Downtown Denver Development Authority announced it would extend to Alterra. Alterra applied to the DDDA on July 21 and was approved a day later.
So far, the DDDA has allocated or approved just under $300 million of the $570 million that voters authorized in November 2024. Alterra is looking to relocate its headquarters from 3501 Wazee St. in the RiNo neighborhood to Upper Downtown, where several large office towers sit more than half empty. Those vacant towers have been selling for discounts of 90 percent and more from their pre-pandemic prices. Besides supporting the growth of Alterra’s own operations, the building is expected to serve as a landing place for other outdoor recreation companies. Alterra is expected to invest $20 million in moving its headquarters and establishing an outdoor recreation hub in Upper Downtown.
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BOAT RAMP AT VEGA STATE PARK CLOSED FOR THE SEASON
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The island boat ramp at Vega State Park outside Collbran closed Thursday for the rest of the year due to low water levels marking an end to the boating season at the park for trailered watercraft. While the boatramp will be gated and locked, smaller hand-launched vessels, like kayaks and paddleboards, are still allowed. Anyone using hand-launched vessels with small outboard or trolling motors will still require an Aquatic Nuisance Species inspection. ANS inspections will be available at the visitor center from 8 a.m. to 4 p.m. Visitors who choose to use hand-launched watercraft are being warned to expect extended response times for water rescues and recreate at their own risk. “Life jackets save lives,” Vega State Park Manager James Masek said. “Weather conditions can and do change fast in Colorado. For those planning to spend time on the water at the park, please remember that having a life jacket isn’t enough — you need to wear it.”
The boat ramp at Highline Lake State Park remains open and the park expects to have a normal boating season. That lake is fed by a canal and is less susceptible to drought conditions. While the boat ramp is closed at Vega State Park, the park itself is still open. For more information visit cpw.state.co.us/state-parks/vega-state-park.
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HOW TO RIDE THE BUS
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Ahead of fare-free August, Grand Valley Transit is letting the public know riding the bus is easy and convenient. Grand Valley Transit will even teach residents how to ride the bus. Grand Valley Transit offers free “travel trainings” to anybody in the public who is curious about riding the bus but doesn’t know where to start. “In anticipation of the August fare-free event, we want to open that opportunity for people that might be interested and enable them to ride the bus a little bit smoother and easier when the fare-free time comes, for them to practice their trips and whatnot,” said Grand Valley Transit Transportation Access and Marketing Specialist Simon McCullough. Interested parties can take a trip accompanied by McCullough, or he can give them a route for them to do themselves. McCullough said some of the hang-ups people have about riding the bus are the cost of tickets, knowing where to get on and off, and using the fare box. He offers these tips:
- Riders can purchase all-day passes or single ride tickets.
- To use the fare box, riders insert the tickets into the top of the box with the logo facing them and the cutaway on the top left. The box spits the ticket right back out when it’s inserted.
- At each of the three transfer stations (west, downtown and Clifton), the buses all convene at a certain time each hour and then disperse.
- The layover time at the transfer centers is for bus drivers to take quick breaks.
- If a bus is running late to a transfer station, the other buses will hold for three minutes so people can make their transfers, McCullough said.
- Riders might find a different type of bus on each route day to day, McCullough said, because the buses cycle through different routes.
- A red sign denoting the route number marks where people will get on the bus.
- All buses are ADA accessible.
- To request a stop, riders can pull a yellow cord to alert the driver that they need to get off.
- A sign at the front of the bus shows what stop is next.
- McCullough said August can be a good time for kids to practice riding the bus with their parents so they can ride the bus home from school or to after-school activities.
- For stops that have multiple routes stopping at them, rider should look to the digital displays on the front of buses above the windshields. Or they can ask the bus driver.
- Residents interested in scheduling a travel training can contact McCullough at simon.mccullough@mesacounty.us.
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REGION 10 ENTERPRISE ZONE EXPANDS TO INCLUDE ALL OF SAN MIGUEL COUNTY
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Businesses and nonprofits in the East End of San Miguel County could be eligible for state tax incentives following the recent boundary amendment to Region 10's Enterprise Zone. The Colorado Enterprise Zone offers state income tax credits that incentivize businesses to develop and expand, as well as retain and create jobs in economically distressed areas. The Colorado Economic Development Commission approved the boundary amendment earlier this month, which expands the Region 10 Enterprise Zone to include all of San Miguel County and extends its designation through Dec. 31, 2035. Region 10 has operated as a nonprofit since 1972 with support from local and county governments. It helps strengthen communities by providing services for seniors, supporting small businesses and advancing economic development in Delta, Montrose, Hinsdale, Gunnison, Ouray and San Miguel Counties.
San Miguel County’s West End will remain designated as an Enhanced Rural Enterprise Zone, providing additional incentives for eligible businesses. Any business interested in pursuing these tax credits is required to create an account in the State of Colorado’s Enterprise Zone online system at tinyurl.com/mv5udst6 and apply for pre-certification. Two informational sessions will be held on Monday, Aug. 17, to help businesses and nonprofits learn about eligibility requirements, the application process and available benefits. The first session will take place from 11 a.m. to 1 p.m. in the Mountain Village Town Council chambers. The second session will be held from 4-6 p.m. at the Wilkinson Public Library. To learn more about the Enterprise Zone program, available tax credits and/or the Enterprise Zone Contribution Project program, visit Region 10’s website at bit.ly/region10ez.
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SUMMIT FOUNDATION INTRODUCES NEW INSPIRE FUND WITH FOUNDING GIFT FROM HOWARD & SUE CARVER
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The Summit Foundation has launched a new fund aimed at strengthening local philanthropy and supporting nonprofits across Summit County. The Inspire Fund was established with a $300,000 founding gift from longtime Summit County residents Howard and Sue Carver. According to the Summit Foundation, the fund intends to expand nonprofit capacity, encourage new residents and younger generations in local giving and create a long-term resource that can grow alongside the community. Howard Carver said the couple wanted to support an initiative that looks beyond addressing immediate needs and instead helps prepare the community for future challenges. Sue Carver said the fund intends to encourage more people to see themselves as philanthropists, regardless of the size of their contributions. “We didn’t want this to be just another campaign that ends the day a goal is met,” Sue Carver said, according to a news release from the Summit Foundation. More information on the Inspire Fund can be found at SummitFoundation.org/give-2/for-current-fundholders/the-inspire-fund.
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KVNF RAFFLES OFF A BRAND-NEW 2026 TOYOTA TACOMA SR5
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KVNF Community Radio is raffling off a brand-new 2026 Toyota Tacoma SR5, valued at $43,749. This annual raffle is one of KVNF's largest fundraisers, helping support community radio programming and operations across Western Colorado. Tickets are $20 each or 3 for $50, with no limit on the number of entries per person. Only 5,499 tickets will be sold. Ticket sales end Aug. 30, 2026, or when all tickets are sold out. The winning ticket will be drawn on August 31, 2026. Tickets can be purchased online at kvnf.org, at the KVNF Studios, 233 Grand Ave. in Paonia, and at select summer events throughout the region. KVNF's Summer Raffle is made possible through the generous support of Alpine Bank, Bighorn Toyota, and Big B's Delicious Orchards. Proceeds from the raffle support KVNF's mission to engage our communities through access to diverse music, news, and voices.
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TEMPS HIT 103 DEGREES IN DENVER AMID STATEWIDE RECORD HEAT
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Another day of record-breaking heat hit Colorado’s Front Range and Eastern Plains on Sunday, with temperatures climbing above 100 degrees, according to the National Weather Service. Temperatures in Denver reached 103 degrees Sunday afternoon, weather service meteorologists announced shortly before 4:45 p.m. The heat broke Denver’s previous July 26 record of 100 degrees, set in 1910, according to weather service records.
Other record highs forecast by the weather service on Sunday included:
- 101 degrees in Boulder, which would break the 98-degree daily heat record set in 1935
- 104 degrees in Brighton, which would break the 101-degree daily heat record set in 2023
- 99 degrees in Castle Rock, which would break the 97-degree daily heat record set in 1894
- 89 degrees in Estes Park, which would tie the daily heat record set in 1948
- 102 degrees in Fort Collins, which would break the 100-degree daily heat record set in 1910
- 99 degrees in Golden, which would break the 85-degree heat record set in 2010
- 106 degrees in Greeley, which would break the 102-degree daily heat record set in 2003
- 105 degrees in Julesburg, which would tie the daily heat record set in 1894
- 100 degrees in Lakewood, which would break the 98-degree daily heat record set in 1982
- 100 degrees in Limon, which would break the 98-degree heat record set in 2023
- 102 degrees in Loveland, which would break the 100-degree record set in 2007
Triple-digit heat will also affect valleys in western Colorado, according to the weather service’s Grand Junction office. A separate heat advisory that covers the Grand Junction area and northwestern corner of Colorado, as well as parts of eastern Utah, will be in effect until 6 a.m. Tuesday.
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FIFTY YEARS AGO, A FLASH FLOOD IN A FRONT RANGE CANYON KILLED 144 PEOPLE
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The thousands of visitors and campers in Colorado’s Big Thompson Canyon had only minutes to find higher ground. On July 31, 1976, a storm system stalled high in the sky above the center of the canyon, between Estes Park and Loveland. Over the course of an hour, the clouds unleashed more than 7 inches of rain, swelling the river encased in the narrow canyon by a foot every three minutes. By the end of the storm the following day, the system had dumped the equivalent of the area’s normal yearly rainfall on the canyon. The torrent killed 144 people, injured more than 200 and stranded hundreds in the canyon, some of whom had to be rescued by helicopter. The flood destroyed more than 400 homes and 50 businesses as well as bridges, roads, power lines — nearly everything in its path. The damage totaled $234 million in today’s dollars. Fifty years later, with the anniversary coming this Friday, the Big Thompson flood remains one of Colorado’s deadliest natural disasters.
The catastrophe spurred changes to emergency response protocols and prompted deeper research into mountain floods. Larimer County officials installed warning signs in the canyon and more securely attached the canyon road to bedrock to keep it from washing away in future floods. They also banned the construction of new buildings in the floodway. Since the flood, technological improvements have made alerting people to flash floods easier and more effective. Weather forecasting, too, has become more accurate and specific. While those changes make predicting and responding to a flash flood more seamless, they don’t change the whims of Mother Nature. “Could the Big Thompson flood happen again? Of course it could,” said Bob Jarrett, a retired research hydrologist with the U.S. Geological Survey who studied the 1976 flood.
Several organizations are hosting events this week to commemorate the 50th anniversary of the Big Thompson flood:
- The Colorado Climate Center is hosting a symposium on the science and impacts of the flood. It is set to begin at 8:30 a.m. Friday at the Estes Valley Community Center in Estes Park. Attendees can RSVP online.
- Larimer County is commemorating the anniversary and honoring the first responders and community members who were there 50 years ago. The event is set for 2-4 p.m. Friday at the Pulliam Community Building in Loveland.
- The Big Thompson Flood Memorial Inc. is hosting a commemorative event to honor those impacted by it. The event is scheduled from 4 p.m. to 7:30 p.m. Friday at the Drake Firehouse in Loveland.
- The Loveland Museum is holding an opening reception for a new exhibit that explores the history of the flood. The reception is 5-7 p.m. Friday at the Loveland Museum.
- The Big Thompson Canyon Association is hosting a presentation by author and historian Shar Wamsley about little-known facts about the flood and the stories of the responders who saved lives. The presentation is at 1:30 p.m. Saturday at 1479 Big Thompson Canyon Rd., Drake.
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MARKET UPDATE - 07/27/2026 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 07/23/2026)
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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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