The Colorado Springs economy is the best test-case for what happens when an economy becomes overly dependent upon the federal dollars as it's base. Colorado Springs is going through tough times during a period of military expansion. Their difficulties began prior to the national downturn.
According to Colorado Springs Chamber of Commerce, the military currently accounts for 40% of the economy in the Pikes Peaks Region.
According to Colorado Springs Chamber of Commerce, the military currently accounts for 40% of the economy in the Pikes Peaks Region.
Milken Institute’s report on the best performing cities shows that Colorado Springs fell from 96th in 2007, to 111th in 2008. At the same time other cities in Colorado with more diverse economies climbed up on the list. Denver, Fort Collins, Grand Junction and Pueblo all advanced. Greeley topped them all, ranking 20th in the nation, not because of a military presence, but because their diverse economy which includes agriculture, manufacturing and alternative energy.
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