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$846,000
Los Angeles, CA775,567
Seattle, WA598,150
Boston, MA585,100
Portland, OR492,625
Chicago, IL479,617
Denver, CO432,828
Las Vegas, NV370,789
Reno, NV335,058
NATIONAL AVERAGE332,959
Albuquerque, NM322,132
Phoenix, AZ317,206
COLORADO SPRINGS, CO315,599
Spokane, WA312,865
Salt Lake City, UT309,778
Dallas, TX308,508
Boise, ID286,171
Raleigh, NC*216,165
Source: C2ER - COLI 1st Quarter 2017; *Source: C2ER - COLI 2016 Annual Average

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, IL257.4
Boston, MA246.0
Los Angeles, CA241.0
Seattle, WA224.8
Las Vegas, NV222.2
Portland, OR213.7
NATIONAL AVERAGE (30 city average) 213.6
Washington, DC203.4
Reno, NV202.0
Spokane, WA201.3
Boise, ID195.3
Denver, CO193.2
Salt Lake City, UT191.7
COLORADO SPRINGS, CO189.8
Phoenix, AZ188.8
Albuquerque, NM188.6
Dallas, TX182.4
Raleigh, NC180.3
Source: RS Means Construction Cost Index, July 2017
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Corporate Tax

StateCorporate Tax Rate
NevadaN/A
WashingtonN/A
District of Columbia9.00%
California8.84%
Massachusetts8.00%
Illinois7.75%
Oregon7.60%
Idaho7.40%
New Mexico6.20%
Utah5.00%
Arizona4.90%
COLORADO4.63%
North Carolina3.00%
Texas.75% Franchise Tax on $1,110,000+ Revenues
Source: Federal Tax Administrators Internet, January 2017
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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$125.87$125.35$251.22
Washington, DC0.00149.6366.86216.49
Los Angeles, CA0.00128.8269.26198.08
Phoenix, AZ196.930.000.00196.93
Seattle, WA189.370.000.00189.37
Dallas, TX0.00116.4057.85174.25
NATIONAL AVERAGE170.4396.5768.20164.77
Las Vegas, NV0.00123.2035.79158.99
Albuquerque, NM0.0095.4754.10149.57
Boise, ID0.0068.3377.86146.19
Portland, OR0.0076.0869.16145.24
Raleigh, NC*0.0088.7650.72139.48
Salt Lake City, UT0.0074.6863.55138.23
Denver, CO0.0083.0953.11136.20
COLORADO SPRINGS, CO0.0080.6053.91134.51
Spokane, WA0.0060.9674.41135.37
Chicago, IL0.0075.5652.89128.45
Reno, NV0.0072.7844.40117.18
Source: C2ER - COLI 1st Quarter 2017; *Source: C2ER - COLI 2016 Annual Average
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Education Levels Comparison

City Percent
Completed
College
Percent
Completed
High School
Dallas, TX30.274.5
Seattle, WA58.993.4
Washington, DC54.689.3
Raleigh, NC48.290.5
Portland, OR45.591.3
Boston, MA45.385.2
Denver, CO4586.1
Salt Lake City, UT43.187.4
Boise, ID39.894.3
COLORADO SPRINGS, CO37.293.1
Chicago, IL35.682.3
Albuquerque, NM33.589
Los Angeles, CA3275.5
Reno, NV30.385.7
NATIONAL AVERAGE29.886.7
Spokane, WA28.891.6
Phoenix, AZ26.780.7
Las Vegas, NV22.383.3
Percent of those 25 and older.
Source: U.S. Census Bureau, 2011 - 2015 American Community Survey
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(Bureau of Labor Statistics, June 2017)

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