COLORADO SPRINGS, Colo. (KOAA) — As Colorado Springs grapples with housing affordability, rising costs and the need for good-paying jobs, the region’s economic future will take center stage at the 30th annual UCCS Economic Forum on Oct. 28.
The event, hosted by the University of Colorado Colorado Springs’ College of Business, will bring together business, government and industry leaders to discuss economic development, the defense industry, tourism and the regional economic outlook. Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber and Economic Development Corp., will be a panelist at the forum and said it offers residents an opportunity to better understand the economic forces affecting their daily lives.
“I think it's important for us to all remember that Colorado Springs is open for business,” Reeder Kleymeyer said. “Good paying jobs lead to a strong economy in our community and lead to an economy that affects the individuals.”
The forum is scheduled for 1 to 4 p.m. at the Ent Center for the Arts at UCCS on Oct. 28. A welcome reception is planned from noon to 1 p.m., followed by a happy hour from 4 to 5 p.m. The program will include a plenary session on economic development in the Pikes Peak region, panel discussions on the defense economy and tourism, and an update on the region’s economic outlook, according to the university.
Since its beginnings as the Southern Colorado Business Economic Outlook Forum in 1997, the annual event has served as a resource for residents, business leaders and policymakers seeking data and analysis about the regional economy. Reeder Kleymeyer said the region has diversified its economy over the years, with aerospace and defense remaining its largest primary industry alongside cybersecurity and advanced manufacturing. But she acknowledged that local families and businesses continue to face economic challenges.
“We see headwinds just like in most of the country,” she said. “You know, families are struggling, so jobs are important to a strong economy and a strong tax base.”
Business growth and local budgets
Among the challenges facing the region are local government budget deficits and the rising costs of infrastructure and public services, including roads, transportation, utilities, parks, fire protection and law enforcement.
Reeder Kleymeyer said one way to address those needs without relying on higher taxes is to expand the local business base.
“Rather than charging more taxes, we should grow the pie and you can do that by adding businesses to our economy,” she explained.
According to Reeder Kleymeyer, the Chamber and EDC, working with city and county partners, has announced 44 companies since 2022. Those announcements represent 6,700 new jobs and more than $2 billion in capital investment. She pointed to the ripple effects of business investment, including construction employment and increased spending at local restaurants, shops and other businesses.
“Those are construction jobs,” she added. “Those are people going to the doctor. Those are people using education services. This is how we keep a strong economy.”
Reeder Kleymeyer highlighted two companies as examples of the region’s economic development efforts.
Accu-Precision recently announced plans for a new facility in the area, representing 127 jobs and $65 million in investment, she said. She also cited BlueStaq, a Colorado Springs-headquartered cybersecurity company that has grown from fewer than two dozen employees five years ago to hundreds of employees, with its Colorado workforce expected to exceed 500.
Reeder Kleymeyer said a diverse mix of employers helps the region weather economic changes because different industries may perform differently during periods of inflation, offshoring or other disruptions.
“Every employer would tell you it is about the employees that work for them,” she said. “They're here because we have strong talent in our region, we need to continue to find opportunities for that talent to stay right here in Colorado.”
Housing affordability remains a concern
Housing affordability is another issue expected to figure prominently in discussions about the region’s economic outlook.
Reeder Kleymeyer said the area has added multifamily housing, helping increase supply and give renters more options. However, she said additional options are needed for people seeking to purchase single-family homes at affordable prices.
“The first thing to remember is a home is where a job lives, so that's a person,” she said. “And we want to be sure that homeownership can be realized for all people in the Colorado Springs metro area.”
She also called for a closer look at the costs and regulations involved in building new homes.
Reeder Kleymeyer said some requirements can add more than $30,000 in costs before construction begins, citing measures such as making homes ready for electric vehicle charging or solar panels. She questioned whether all such requirements are appropriate for homes intended for lower-income buyers. The Chamber and EDC plans to advocate for what Reeder Kleymeyer described as responsible regulation and a balance between safety requirements and affordability. As state lawmakers prepare for the next legislative session in January, she said the business community will emphasize increasing housing supply, shortening permitting times and reviewing requirements that add costs without compromising safety.
“The way to be able to lower home prices is to increase supply,” she stated.
Reeder Kleymeyer also pushed back on perceptions that the region is growing too quickly, saying residents should examine the data and consider the employment opportunities growth can provide.
“If we want our children to be able to stay here, if we want opportunities for those of us that are either exiting the military and want to stay employed in our region or those that want to make changes in their job status or want to move up in what their employment opportunities are, we have to have a thriving economy,” she said.
She added that the region needs smart growth to pay for infrastructure and maintain public services without continually asking existing residents to shoulder higher taxes.
Defense, data centers and the future
The forum also comes as Colorado Springs continues to assess its position as a major defense and national security hub.
Reeder Kleymeyer recently traveled to Huntsville, Alabama, with a delegation of 90 people to examine the city’s economic development strategies and build relationships between the two communities. Both cities have strong workforces and significant defense-related assets, she said, arguing that their economic success should not be treated as a competition.
“Huntsville doesn't have to fail for Colorado Springs to win, and Colorado Springs doesn't have to fail for Huntsville to win,” Reeder Kleymeyer said.
She said both communities must plan for future opportunities and remain competitive for new military missions while supporting the military families and civilian employees who serve the country. Other potential discussion topics include inflation, fuel prices, industrial site readiness and data centers. Reeder Kleymeyer said data centers raise questions about how communities can accommodate the infrastructure needed for digital services while addressing residents’ concerns about whether such facilities are the right fit for their neighborhoods.
“I think these are all topics that are important to discuss,” she added.
The university describes the Economic Forum as a community resource that tracks key economic indicators, analyzes local and national data and provides expert commentary to help citizens, businesses and civic leaders make informed decisions. For Reeder Kleymeyer, that emphasis on data and open discussion is particularly important at a time when public debates can become polarized.
“Finding good data, learning good information, sitting down and having discussion and debate and learning maybe a different opinion or a fact that you didn't know only helps us be a more well informed community,” she said.
She encouraged residents to attend the forum, hear from economists and other professionals, and use that information to form their own conclusions about the region’s economic future.
“Come and hear from the experts,” she said. “Come and hear the data that's being shared from economists at UCCS and other professionals, and then make your own informed decisions.”
Registration information and additional details about the 30th annual UCCS Economic Forum are available at business.uccs.edu/economic-forum.
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