An economic outlook for Colorado Springs moving forward

COLORADO SPRINGS, CO — Financial leaders in Colorado Springs say the Pike Peak Area is nicely positioned to experience out provide chain and inflation points.

“We’re actually lucky in Colorado Springs to have industries like aerospace, cybersecurity, and a few manufacturing of merchandise that folks want to ensure that nationwide safety, for his or her cell telephones to work, and people types of issues,” mentioned Colorado Springs Chamber and EDC, Chief Financial Growth Officer, Cecilia Harry.

Inflation and provide chain points are financial realities that can not be ignored.

“Clearly inflation is a priority,” mentioned Harry, “That is an actual factor to be being attentive to locally.”

However, the sorts of industries feeding the economic system within the Pikes Peak area supply some stability.

An economic system is about every kind of enterprise each huge and small.

The success of small native retailers is one a part of the financial puzzle.

Retail house emptiness in downtown Colorado Springs is at the moment round 3% which is taken into account very low.

“Our domestically owned small companies add a lot vibrancy to the standard of life that all of us expertise,” mentioned Harry.

The success of Southwest Airways because it arrived slightly below two years in the past is one other indicator.

Lodges are getting in at a number of places throughout the town.

Housing gross sales might have slowed however individuals are nonetheless searching for properties.

And, all sides of the town nonetheless present development and redevelopment.

“We’re seeing a lot of curiosity in Colorado Springs, a lot of firms, a lot of completely different trade sectors, some firms which are already right here, some that wish to come right here for the primary time,” mentioned Harry.

Native ties to army, aerospace, and companies with authorities contracts are an enormous assist.

They assist counter financial variables inflicting uncertainty.

“We’re very lucky as a area that we have had very constructive development indicators over an prolonged time period,” mentioned Harry, “So whether or not we’re speaking about new companies coming in or increasing, new individuals coming in for inhabitants development, all of these indicators are one thing that we have been in a position to construct off of.”

The proof of all this can be seen over the following couple of months.

Approaching the brand new yr there are a number of enterprise growth bulletins within the works.

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