Colorado Springs

LOCATION OVERVIEW

The Colorado Springs metro contains a population of approx-
imately 692,900 people. Colorado Springs is the largest city,

with around 443,100 residents, followed by
Security-Widefield and Fountain. The population in the metro is
expected to grow by 51,600 residents over the next five years.

The U.S. military plays a vital role in the local economy, sup-
ported by the Air Force Academy, Fort Carson and NORAD.

Colorado Springs has also used the economic

stimulus provided by the military to build a host of other eco-
nomic engines.

Business sectors that local officials hope to grow through in-
centives include aerospace, defense and homeland security,

renewable energy and energy efficiency, software and informa-
tion technology.

Sports health and wellness is another segment the city would
like to expand, as Colorado Springs is the home of the U.S.
Olympic Training Center and headquarters of the U.S. Olympic
Committee. The Olympic facilities help draw tourists who also
come to enjoy Pikes Peak, Garden of the Gods, and hiking and
camping in the mountains nearby.
Economic growth in Colorado Springs is expected to surpass
the national level for the second consecutive year, rising 5.3
percent in 2016, up from 4.2 percent growth last year. Retail
sales are forecast to expand by 6.5 percent this year, above the
national growth rate of 5.4 percent. Robust hiring at firms such
as Raytheon and demand for construction workers at the many
redevelopment projects in downtown
Colorado Springs will contribute to boosting the local economy.