WalletHub: Springs’ economy among fastest growing

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Colorado Springs’ economy ranked 178th in economic growth among 515 large cities in the United States by WalletHub. Within the state rankings, Colorado Springs was listed 11th, behind Denver, Longmont, Boulder, Fort Collins, Greeley and others.

The WalletHub study, 2015 Cities with the Fastest Growing Economies, used 10 significant metrics to devise the list of fastest-growing economies.

It included median household income growth, unemployment rate decrease, growth of regional GDP per capita, population growth, working-age population growth, poverty rate decrease and others. WalletHub gathered and analyzed data from the U.S. Census Bureau, the U.S. Bureau of Labor Statistics and the Bureau of Economic Analysis. WalletHub studied the data from 2008-14. The study can be found here: https://wallethub.com/edu/fastest-growing-cities/7010/#methodology.

3 COMMENTS

  1. Staci Holdt

    Relativity and SPIN on Headlines. The last line of paragraph one is priceless:

    “Colorado Springs was listed 11th, behind Denver, Longmont, Boulder, Fort Collins, Greeley and others.”

    (But really outpacing Franktown and Ordway??)

  2. Staci Holdt

    The headline followed by the disclaimer that Colorado Springs is doing well 11th behind much smaller, well-managed cities does bring up two questions: (1) If ‘jobs’ are one key to generating revenue to help support the city budget needs – why would city council, on a whim, plan in the dark to curb the expansion of a cottage industry that is providing close to a 1000 right now jobs? (2) Is it time for the city and the county to consider more fully funding an effort to create a true professional economic development organization as opposed to a regional travel planning and networking alliance?

    Several years ago, when Jenkins, Quimby, Bach, Stimple, Pam Keller and others forced the head of the former Economic Development Corporation to resign and moved to the combined ‘Chamber-EDC’ social networking format – has the level of new firm attraction and the number of jobs created been at a level to justify the cost? Has the small business community been shunted to a side rail?

    Reno is in a real bind not having enough housing nor enough workers to begin to fill the jobs that Kazmierski, working with serious business people, have created in Nevada: using the same game plan scheduled to be used for Colorado Springs as a ‘recession recovery plan’. Same Plan. No Amateurs. Real Results.

    Now: Reno has jobs and more being announced every day and Colorado Springs still has Jenkins, Quimby, Stimple, Stimple and Keller – the two fired Chamber social butterflies found work – yet is there a truly capable and competent economic development team in the region? Where is the production?

    Is effort being conducted to determine why the number of companies who chose other cities did so – or will regional leaders continue to swing from beneath their little Mary Poppins umbrellas dreaming about how great things will be when they get good – or is it time to realize that only performance counts?

    The problems below would be welcome! It is tragic a small town with the assets of the Springs cannot capitalize on them. Perhaps it is time to reach outside the community and bring in those with proven leadership skills and a track record.

    http://www.rgj.com/story/opinion/columnists/2015/07/15/edawn-carson-citys-worth-housing-needed/30206019/

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