COLORADO SPRINGS, Colo. (KOAA) — A new quality of life indicators report from Pikes Peak United Way reveals that people of all age brackets are moving to the Pikes Peak region and staying longer than ever before.
Job growth and job satisfaction are the two biggest factors driving this population trend, according to Pikes Peak United Way's President and CEO Cami Bremer.
"Over the last decade, substantial job growth has occurred," said Bremer.
The report, which covers through the end of 2023, states Colorado Springs has 26 employers for every 1,000 residents.
"They want to know that they can have a job that is well paying, that is sustainable," said Bremer. She adds this report indicates businesses in the region are growing and bringing in more employees.
"This area was on a significant growth trajectory prior to COVID, and what we've seen is that, just like the rest of the country, there was just a little bit of a stagnation. And then we continued," said Bremer.
The three sectors that experienced the most growth were the following:
- natural resources and mining
- education and health services
- construction
However, growth isn't limited to these industries as tourism and hospitality have also been traditional economic drivers in the region.
"I would say there's just more of a, just a willingness to move, I guess, to move in, to move out," said Peri Bolts, who has owned Eclectic Co. since 2018.
Bolts says she's noticed more new faces and not just tourists.
"I do think that every time that a job has been posted, there are a lot of applicants for it," said Bolts.
Despite the influx of new residents, Bolts notes that people are still leaving the area. This creates challenges for her business, which relies on local vendors.
"That's always the sad part about having a community of vendors, is people come and they go, so yeah, it's kind of bittersweet," said Bolts. "Colorado Springs just has a really natural kind of ebb and flow of people coming in."
The report also found increased costs associated with this growth. Personal expenses rose 17% from 2018-2023, while rent prices in Colorado Springs increased to 23%, which is above the national average.
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