Colorado Springs is a City I, frankly, knew too little about. The economy has has reputation as having a ‘little brother’ relationship to Denver, with Denver’s dominant center of business gravity in Colorado.
Last night I had a lot of details and nuance filled in for me. The economy has a reputation being tilted towards “Federal Sector” business, home to defense contractors and has 220 IT & cyber security companies.
The Economy is diversifying and, thanks partially to functional tele-presence web conference technology, one headwind may be fading in importance: Transportation.
Last night several local Colorado Springs Sales Professionals described what is was like dealing with a city whose airport is not well populated with Nationwide Airline Carriers. When Southwest opted out of the Colorado Springs Airport and Western Pacific Airlines folded, the local economy suffered. The reality is that business executives and sales pros alike need easy access to rocky mountain region, access to the rest of the country and the rest of the globe. While Colorado Springs Residents leverage the local airport as much as possible, the airlines there are limited & incur additional stopovers in their travel. Technologies like Zoom and other video conferencing technologies have alleviated this to a point.
Another tailwind that may spark a lot of growth in Colorado Springs is the talk of affordability vis a vis Denver. There are ~100,000+ people coming into Colorado per year, primarily in metro-Denver. This has pushed the cost of living up in Denver. This trend has not hit the ‘Springs yet & makes the city an affordable option (think Denver circa 2005) with all the outdoor lifestyle benefits of living in Colorado.
Another interesting anecdote relayed to me was about the VC community. Silicon Valley thrives, in part, due to the physical proximity of VC companies to founders and entrepreneurs. The VC community in Colorado is centered around Denver. Having this community expand to Colorado Springs would help considerably.
There was an electricity in the air at this meeting last night. Several Sales Professionals were saying the city is poised for growth. I’m excited about the Colorado Springs Chapter of the meetup and I’ll see you in November, January and beyond.