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Colorado Secretary of State Jena Griswold Releases Economic Indicators Report for Fourth Quarter 2019



Today, the Colorado Secretary of State, in partnership with the University of Colorado Leeds School of Business Research Division, released the quarterly indicators report for the fourth quarter of 2019. The report shows that Colorado’s economy continues to outperform the nation in many economic indicators and employment growth will continue into 2020, but at a more modest pace.

“While growth has slowed the last two quarters, Colorado’s economy is still strong,” said Secretary Jena Griswold. "With business leaders’ confidence improving, indications point to Colorado’s economy staying strong in 2020."

The Business Research Division at the University of Colorado Leeds School of Business compiles the report using data from the Secretary of State’s central business registry.  The report looks at a variety of factors, such as energy costs, the labor market, and inflation.

The report shows the relationship between new business filings, new business formation, and employment growth. New business filings are typically linked to job growth, but total new business filings declined 0.4% year-over-year, which may point to employment growth occurring at a slower rate in 2020.  Colorado saw an increase in jobs of 2.1% from November 2018 to 2019, and the state’s unemployment rate dipped to 2.5%, an historic low that is the fifth lowest in the United States.

After slipping in the final quarter of 2019, confidence of business leaders is up heading into the first quarter of 2020, according to the Leeds Business Confidence Index. Expectations for the state’s economy, industry sales, hiring, and capital expenditures have all increased entering the new year. 

Colorado personal income increased 5.3% in Q3 of 2019, well ahead of the national personal income growth rate of 4.4% over the same time period. Colorado annual average wages, currently at $60,340, also continue to outpace the nation by around $2,100.

Colorado’s overall economy grew 3.3% year-over-year in Q3 2019. The Mining industry recorded the largest year-over-year gains.

The full report is available here and previous reports can be found here.

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Amazon announces big expansion plans in Colorado Springs

Press Release (Amazon.com)



Amazon currently employs more than 4,000 people in Colorado;
new facility will employ more than 1,000 associates

Amazon today announced plans to open a new fulfillment center in Colorado Springs, Colorado, creating more than 1,000 full-time jobs starting at $15 an hour with comprehensive benefits starting on day one. Amazon currently employs more than 4,000 full-time associates throughout the State of Colorado.

"We're excited to open a new, state-of-the-art fulfillment center in Colorado Springs. Colorado has a talented workforce, and we are very excited to grow employment beyond the more than 4,000 associates already serving customers in the state," said Alicia Boler Davis, Amazon's Vice President of Global Customer Fulfillment.

“The City of Colorado Springs is thrilled to welcome this new Amazon facility to our community,” said Mayor John Suthers. “The arrival of this incredibly successful and innovative company brings with it a wealth of good-paying jobs in our Southeast quadrant and continued positive growth at the Colorado Springs Airport. I commend the Colorado Springs Airport, the city’s economic development division and our partners at the Colorado Springs Chamber and EDC for yet another very positive development for the City of Colorado Springs.”

Amazon will fulfill customer orders such as books, electronics, and toys from this 800,000-square-foot fulfillment center. All associates will go through safety training and have access to continuing education opportunities through Amazon's upskilling programs such as Career Choice. In the Career Choice program, the company will pre-pay up to 95 percent of tuition for courses related to in-demand fields, regardless of whether the skills are relevant to a career at Amazon. Since the program's launch, over 25,000 employees have pursued degrees in game design and visual communications, nursing, IT programming and radiology, to name a few.

On top of Amazon's $15 minimum wage, the company offers full-time employees comprehensive benefits including full medical, vision, and dental insurance as well as a 401(k) with 50 percent match starting on day one. The company also offers up to 20 weeks of maternal and parental paid leave and innovative benefits such as Leave Share and Ramp Back, which give new parents flexibility with their growing families. In addition, Amazon has pledged to invest over $700 million to provide upskilling training for 100,000 U.S. employees for in-demand jobs. Programs will help Amazonians from all backgrounds access training to move into highly skilled roles across the company's corporate offices, tech hubs, fulfilment centers, retail stores, and transportation network, or to pursue career paths outside of Amazon.

Amazon's fulfillment network supports businesses of all sizes worldwide through its Fulfillment By Amazon offering, and many of those local organizations are based right here in Colorado. There are more than 45,000 authors, small and medium-sized businesses, and developers in Colorado growing their companies and reaching new customers on Amazon products and services. Amazon has invested $1.5 billion in Colorado including customer fulfillment and cloud infrastructure, research facilities, and compensation to our employees. A result of Amazon’s investments in Colorado, more than $1 billion has been added into the state GDP.

In 2019, Amazon released a report that revealed the top 10 states with the fastest-growing small and medium-sized businesses. The State of Colorado was sixth on the list. The report examined year-over-year sales growth of businesses selling in Amazon’s stores across all 50 states. Amazon helps facilitate online selling and provides the logistics behind-the-scenes that help enable businesses, particularly those located in rural areas, to reach customers around the globe.

The project is being developed by Trammell Crow.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for  invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

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Press release

Red Energy Public Relations in Colorado Springs has recently been awarded three public relations and marketing contracts with organizations to include: ViewHouse Colorado Springs, Melody Living Lake in the Hills and Peak Military Care Network.

The full-service firm offers a wide range of services and will support ViewHouse Colorado Springs with their Grand Opening in the Pikes Peak Region by assisting with media outreach and digital marketing, and supporting the restaurant with its long-term community outreach strategy.

Supporting Illinois-based Melody Living Lake in the Hills, a Cedarwood Development project, Red Energy will extend the assisted living and memory care community's digital footprint through SEO content development, social media management, media relations, special event planning, community outreach and advertising.

Peak Military Care Network has contracted Red Energy to assist with the nonprofit organization's brand redevelopment and merger with The Home Front Cares of which Red Energy will incorporate strategic market research, conduct focus groups, develop a brand identity, create key messaging and design the organization's marketing materials.

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An enjoyable new cooking school and workshop venue

Press Release

Crafted Colorado announces that it has opened a second location in
the heart of Old Colorado City to house a larger workspace area to host new and invigorating
cooking classes and activities. Nominated as one of the Best Cooking Classes in the
Springs - Crafted Colorado has partnered with Sweet Addict Bakery to offer fun and
memorable classes that are entertaining for all ages!

Class topics currently scheduled include Harry Potter Desserts, Cooking with Cannabis,
Chocolate & Wine pairing, Cannolis, Boozy Baking and even chunky knit blankets!
To celebrate, Crafted Colorado is hosting a giveaway: one lucky winner will receive a
complimentary class for four people - topic of their choice (up to a $320 value!) To enter,
please visit facebook.com/CraftedColorado

Many of the classes are taught by Sweet Addict Bakery owner, Deidre Peak. In ten short
years, Sweet Addict Bakery has become a top 1% business on Etsy and has even been
featured by the Food Network! Mrs. Peak is “delighted to offer easy, enjoyable and
entertaining cooking sessions” that she has “achieved through lots and LOTS of failures” and
her own “ingenuity and creativity.” Mrs. Peak is a “stress-eater” and her passion for baking
has become one of the most recognizable gourmet candy companies in our community and
beyond.

Crafted Colorado is a veteran and woman owned business that offers a variety of giftable
goods supporting 70+ local, small businesses - all handmade and crafted in our community.
Crafted Colorado’s kitchen space is available to rent for private parties, food trucks, catering,
etc. - please inquire!

From kids to seniors and sweet to savory, there's a class for everyone!
You can register for classes at their website - www.craftedcoloradoltd.com/events

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