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Old 04-02-2010, 09:23 AM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,948,729 times
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The United States added 162,000 jobs in March, after two years of jobs losses, and many economists say this is the turning point. I agree.

Why do I bring this up in the Colorado room? Well this has major implications on us as many of our larger developments are on hold because of the slow economy. For example, Pueblo Springs, which will have one of the states largest tech parks, was suppose to have started development by now but was put on hold till the national economy recovers. So if the economy can begin to show sings of recovery they could start this year and that would mean thousands of construction jobs for southern Colorado and as companies move to the new tech park thousands of more primary jobs creating even more secondary jobs. That would really get the local economy moving making these national numbers very important to us.

 
Old 04-02-2010, 09:29 AM
 
Location: Englewood,CO
345 posts, read 868,955 times
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I don't anticipate any large developments to be started in the next few years. Investors and businesses are very very cautious (and rightfully so). Instead of growth what we will see is investment into preserving what we already have.
 
Old 04-02-2010, 09:35 AM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,948,729 times
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Quote:
Originally Posted by maximusmgm View Post
I don't anticipate any large developments to be started in the next few years. Investors and businesses are very very cautious (and rightfully so). Instead of growth what we will see is investment into preserving what we already have.
I have to disagree, especially here in Colorado, as the coasts remain expensive, for companies and people, thus, they are looking to move where its not so expensive and one of those areas is Colorado. So as the national economy comes out of the recession I think you will see more companies expanding or moving to the front range and to handle that growth you will see new and large developments. That is why investors from Las Vegas are planning one of the largest planned comminutes in the United States between Pueblo and Colorado Springs that will include a tech park larger then the DTC and said they will start on it as soon as the national economy begins to recover.
 
Old 04-02-2010, 09:48 AM
 
Location: Englewood,CO
345 posts, read 868,955 times
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Quote:
Originally Posted by Josseppie View Post
I have to disagree, especially here in Colorado, as the coasts remain expensive, for companies and people, thus they are looking to move where its not so expensive and one of those areas is Colorado. So as the national economy comes out of the recession I think you will see more companies expanding or moving to the front range and to handle that growth you will see new and large developments. That is why investors from Las Vegas are planning one of the largest planned comminutes in the United States between Pueblo and Colorado Springs that will include one of if not the largest tech parks in the state and said they will start on it as soon as the national economy begins to recover.
As someone who works on the construction industry I disagree. Colorado may be cheaper than other areas but moving is very expensive. Capital expenditures are being kept at a a minimum at most businesses. What we are seeing now are government related projects, very few retail related projects (remodels are popular now rather than new buildings or shopping centers), a little health care and a mix of a few different items. We are not seeing the rapid expansion we had seen in the past. I don't expect we will be in a rush to return to that either.

Here is a recent article I found Pueblo Springs Ranch on hold in slow economy
It says Pueblo Springs has been put on hold. It seems to indicate they'll wait a year and see where the economy is then.
 
Old 04-02-2010, 09:56 AM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,948,729 times
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I read that article and that is why I said it could be later this year because they just asked for a year extension. If the economy continues to get better I would suspect they will start in the 3rd or 4th quarter as it will take a long time to get the land ready as this is a brand new development.

That being said I do have a question for you since you are in the construction business. Put aside our differences for now how long does it take for the preliminary work (utilities, roads, etc.) to be done so houses and business can be built in a project that big? And how many construction workers does it take? I would think that alone would have a huge imopact on our economy when it starts.
 
Old 04-02-2010, 10:16 AM
 
Location: Englewood,CO
345 posts, read 868,955 times
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Quote:
Originally Posted by Josseppie View Post
That being said I do have a question for you since you are in the construction business. Put aside our differences for now how long does it take for the preliminary work (utilities, roads, etc.) to be done so houses and business can be built in a project that big? And how many construction workers does it take? I would think that alone would have a huge imopact on our economy when it starts.
I work for a company that does vertical construction (buildings) so I can't speak to the underlying infrastructure needed. The article does say it could take up to 50 years to fully develop the entire park.

A large office building could take nearly two years to build and would need quite a few workers (maybe 200-300). If such a building were to be built in Pueblo Springs workers would come from all around...some local, some as far away as Denver. I know people that commute 100 miles each way for work.
 
Old 04-02-2010, 10:24 AM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,948,729 times
Reputation: 4258
Quote:
Originally Posted by maximusmgm View Post
I work for a company that does vertical construction (buildings) so I can't speak to the underlying infrastructure needed. The article does say it could take up to 50 years to fully develop the entire park.

A large office building could take nearly two years to build and would need quite a few workers (maybe 200-300). If such a building were to be built in Pueblo Springs workers would come from all around...some local, some as far away as Denver. I know people that commute 100 miles each way for work.
Thank you.

That is why I am so exited about this project as I think it has the potential to improve the economy of Colorado Springs and Pueblo much like the DTC had on Denver since the 1960's when it was first developed.
 
Old 04-02-2010, 04:22 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,734,953 times
Reputation: 1696
Quote:
Originally Posted by Josseppie View Post
The United States added 162,000 jobs in March, after two years of jobs losses, and many economists say this is the turning point. I agree.
I don't.

Tell us, how many of those supposed jobs added were the result of BLS model birth-death adjustments, and how many were actual jobs? And tell us also, how many (real, as opposed to model fantasy) jobs does the economy have to add just to keep UE levels at a steady state due to population growth? (I'll help you out here, the number is over a quarter-million).

Let's have a look at the Philadelphia Fed's latest coincident indicator map. Note the lovely hue of red covering the state of Colorado.

 
Old 04-02-2010, 04:34 PM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,948,729 times
Reputation: 4258
^

This is just the start, just look at the trend. Once the national economy sustains the recovery for a few months then large developments in Colorado, like Pueblo Springs, that have been on hold will start and that will really jump start the local economy. It always looked like it would be 3rd or 4th quarter before this happened and it still looks that way.
 
Old 04-02-2010, 04:50 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,734,953 times
Reputation: 1696
Quote:
Originally Posted by Josseppie View Post
^

This is just the start, just look at the trend. Once the national economy sustains the recovery for a few months then large developments in Colorado, like Pueblo Springs, that have been on hold will start and that will really jump start the local economy. It always looked like it would be 3rd or 4th quarter before this happened and it still looks that way.
Nationally, the long-term trends are still negative, and Colorado is also in negative territory on the short-term trends as the PFCI data reflects. It will revert even more to the negative as the end of the Fed's illegal purchases of MBS forces mortgage rates up and a return to falling RE prices.

There are lots of other trends to look at that don't give cause to celebrate. Personal bankruptcies are accelerating, none of the illusory homeowner relief programs touted by Obama and his financial Apple Dumpling Gang have made even a slight dent in the still-rising foreclosure rates, and rail traffic, though up from last year's lows is still far below 2008 levels. Those sectors of the economy that do come back are unlikely to come back to anything near their pre-crash levels anytime soon.
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