December 19, 2019

Wrapping up a decade of success in Colorado Springs – and springing into 2020

Recapping a record decade for Colorado Springs' economy

As we count down the days to 2020, we look back on a record decade for the Colorado Springs’ economy – a decade whose final year marked a high point of growth and success in our region. In recapping the top stories of 2019, we also look forward to the projects that will continue to drive economic growth and opportunity for Colorado Springs in the years to come.

2019 success translates to 2020 growth

In February, Trisco Foods announced plans to establish its U.S. headquarters and production operations in Colorado Springs. Then on December 17, the Australia-based food manufacturer held the grand opening for the new facility, which will add 75 jobs to the Colorado Springs economy.

This past May, Amazon began construction of a permanent delivery station near the Colorado Springs Airport in the Peak Innovation Park. The global retail giant invested more than $8.4 million in estimated construction costs to build the 66,000-square foot facility.

In July, local development company Goodwin Knight announced plans to build a new four-story, 54-unit apartment building in Colorado Springs’ urban core, with construction to start in early 2020.

And earlier this December, YMCA announced the first phase of a $100 million rebuild project for a new mixed-use facility in downtown Colorado Springs with a goal to open by 2022.

City for Champions initiative make waves in 2020

Building on the dynamic history of Olympic City USA, the City for Champions initiative highlights four venues that will strengthen and diversify the impact of regional and state attractions for the Colorado Springs economy.

The U.S. Olympic & Paralympic Museum is the first of the four projects set to open in late spring 2020. Just a few blocks from the U.S. Olympic Committee’s headquarters, this $75 million, 60,000-square-foot building will showcase exhibits and displays highlighting the nation’s Olympic and Paralympic movements. Slated to open in mid-2020, the William J. Hybl Sports Medicine and Performance Center will be first of its kind to integrate undergraduate and graduate education. Soon to follow, the new Air Force Academy Gateway Visitor Center will highlight Colorado Springs’ rich aerospace history with a transformed visitor experience. And finally, the state-of-the-art facilities of the Downtown Stadium and Edward J. Robson Arena will host professional, Olympic, and amateur sporting events as well as entertainment and cultural events.

Success stories and notable rankings highlight Colorado Springs’ economy

In addition to major expansions and projects, Colorado Springs also made national headlines in 2019 through a number of stories and rankings highlighting the rising tide of talent and business opportunities in the region.

  • According to Inc., “Colorado Springs offers a rare combo of being a city with great tech opportunities, natural beauty, and being affordable enough to make a successful business without the pressure of having to immediately succeed in order to make it.”
  • From Ozy, “Colorado Springs is often the first choice for those looking to break through the space industry stratosphere.”
  • And in Livability, “For those who value a healthy work-life balance that includes indulging in epic outdoor activities and enjoying satisfying professional endeavors in the same day — every day — Olympic City USA is the place to be.”
  • From WalletHub, Springs ranked 6th Best City for Veterans to Live and is again listed as the 5th Best City to Find a Job.
  • In Outside Magazine, Colorado Springs ranked 2nd in the Next Dream Outdoor Hub
  • According to SmartAsset, Colorado Springs ranked 6th for healthiest housing market.
  • In the U.S. News & World Report, Colorado Springs come out on top taking 1st place in the Most Desirable Place to Live

It’s safe to say that Colorado Springs is on the rise. As the city looks to continue a pattern of abundant growth in 2020, discover why Colorado Springs’ economy is the perfect place to grow your business.