Doing Business

City Comparisons

High Elevation, Low Cost

Colorado Springs may be nestled below the towering Rocky Mountains, but compared to other cities, it’s a step above the rest. Colorado Springs is home to world-class innovation, accessibility, and opportunity — all at a much lower cost than neighboring markets and cities across the country. Here’s how Colorado Springs stacks up against other regions.

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Housing Cost Comparison

 House
Price
Washington, DC$1,069,329
Los Angeles, CA823,191
Seattle, WA813,020
Boston, MA719,537
Portland, OR620,491
Denver, CO529,115
Chicago, IL517,613
Reno, NV466,950
Las Vegas, NV*453,767
Salt Lake City, UT403,929
Dallas, TX399,450
Spokane, WA*388,702
NATIONAL AVERAGE370,008
Boise, ID351,105
COLORADO SPRINGS, CO349,912
Phoenix, AZ329,900
Albuquerque, NM314,593
Raleigh, NC287,839
Source: C2ER - COLI 2nd Quarter 2019; *Source: C2ER - COLI 1st Quarter 2019
Based on: A newly built home of approximately 2,400 square feet with 3 bedrooms, 2 full baths, living room, dining room, one fireplace, utility room, fully finished basement and attached 2-car garage on 8,000 square foot lot.
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Construction Costs

 Cost Per Index
Chicago, IL277.2
Boston, MA268.2
Los Angeles, CA259.4
Seattle, WA253.0
Las Vegas, NV244.0
Portland, OR237.8
NATIONAL AVERAGE232.2
Washington, DC221.5
Reno, NV219.9
Spokane, WA215.1
Boise, ID213.8
Denver, CO212.1
Salt Lake City, UT209.1
COLORADO SPRINGS, CO205.8
Phoenix, AZ205.8
Albuquerque, NM203.4
Dallas, TX198.4
Raleigh, NC196.3
Source: RS Means Construction Cost Index, July 2019
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Corporate Tax

StateCorporate Tax Rate
NevadaN/A
WashingtonN/A
Illinois9.50%
California8.84%
District of Columbia8.25%
Massachusetts8.00%
Oregon7.60%
Idaho6.925%
New Mexico5.90%
Utah4.95%
Arizona4.90%
COLORADO4.63%
North Carolina2.50%
Texas.75% Franchise Tax on $1,110,000+ Revenues
Source: Federal Tax Administrators Internet, January 2019
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Workers Compensation

DescriptionClass
Code
AZ
CA
CO
IL
MA
NM
rate
TX
rate
UT
rate
Accountant - Traveling8803$0.09$0.27$0.09$0.06$0.05$0.12$0.05$0.05
Clerical88100.230.520.160.120.080.340.090.11
Computer Manufacturing35740.974.160.801.651.701.160.550.64
Electrical Apparatus31792.025.541.482.411.482.261.271.12
Electroplater33723.529.452.753.502.193.191.901.76
Engineers86010.510.560.410.510.290.580.160.31
Equipment Manufacturing36810.601.520.911.150.710.940.560.36
Inspectors87202.093.751.741.400.911.40n/a0.91
Outside Sales (Buyer)87420.440.670.300.270.160.550.150.26
Rate Reported per $100 of Payroll - Advisory Loss Costs
Source: HUB International, July 2015
Rate Reported Manual Premium for $1,000,000 Payroll- These are not manual premium rates.
Insurance companies increase by a factor which is filed per-state.
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Utility Comparison

CityAll
Electric
Part
Electric
Other
Energy
Total
Monthly
Energy
Boston, MA$0.00$54.21$196.75$250.96
Washington, DC0.00142.481.20223.60
Phoenix, AZ209.900.000.00209.90
Seattle, WA189.680.000.00189.68
Dallas, TX0.00129.8952.08181.97
Los Angeles, CA0.00100.0279.60179.62
Raleigh, NC0.00108.4963.54172.60
NATIONAL AVERAGE176.46100.6270.25170.87
COLORADO SPRINGS, CO0.00110.4153.80164.21
Las Vegas, NV*0.00121.5240.49162.01
Spokane, WA*0.0058.8985.45144.34
Portland, OR0.0079.8660.48140.34
Reno, NV0.00110.6627.13137.79
Albuquerque, NM0.0092.0740.97137.42
Chicago, IL0.0077.4353.27130.70
Salt Lake City, UT0.0073.9452.75126.69
Boise, ID0.0066.2459.23125.47
Denver, CO0.0044.2258.21102.43
Source: C2ER - COLI 2nd Quarter 2019; *Source: C2ER - COLI 1st Quarter 2019
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Education Levels Comparison

City Percent
Completed
College
Percent
Completed
High School
Seattle, WA60.493.9
Washington, DC55.490.0
Raleigh, NC49.291.3
Portland, OR47.091.6
Boston, MA46.485.7
Denver, CO45.786.4
Salt Lake City, UT44.487.5
Boise, ID40.694.4
COLORADO SPRINGS, CO37.893.4
Chicago, IL36.583.1
Albuquerque, NM33.889.1
Los Angeles, CA32.575.9
Dallas, TX31.075.3
Reno, NV30.786.2
NATIONAL AVERAGE30.387.0
Spokane, WA28.891.9
Phoenix, AZ27.480.9
Las Vegas, NV22.483.5
Percent of those 25 and older.
Source: U.S. Census Bureau, 2012 - 2016 American Community Survey
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(Bureau of Labor Statistics, August 2019)

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