Inside Track   The latest business developments from the Colorado Springs area

Westminster to buy solar power from SunShare

2014-07-10

The City of Westminster has agreed to buy 254 kilowatts from community solar arrays SunShare plans to begin building in September in Adams and Jefferson counties. The Denver-based company hopes to have the so-called “solar gardens” producing electricity by year’s end, SunShare spokeswoman Karen Gados said Thursday. SunShare was started in...

Colorado Expressions closes in downtown Colorado Springs

2014-07-11

Colorado Expressions, an artisan gallery and boutique at 122 E. Kiowa St. that displayed works from 68 artists, closed July 11. Gallery owner Christine Pech declined to comment on the reason for the closing. The gallery opened in December 2012, according to its Facebook page.

Verizon Business to lay off IT workers

2014-06-25

Telecommunications giant Verizon Business notified “well under 100″ information technology department employees at its Colorado Springs operation that they will lose their jobs July 18, Verizon spokesman Ray McConville confirmed Wednesday. McConville declined to say how many the company’s 1,000 employees in the Springs will...

New vehicle registrations stay in low gear

2014-06-12

New vehicle registrations in El Paso County remained barely above neutral in May, edging up just 1.1 percent from a year ago, according to a report posted Wednesday by the El Paso County Clerk & Recorder’s Office. Registrations in May rose by 21 vehicles from May 2013 to 1,976, the first increase since February after […]

Colorado Springs investor changing plea in kickback case

2014-06-10

Brian Headle, a Colorado Springs real estate investor indicted on seven counts of bank fraud and 11 counts of giving kickbacks to a bank officer in exchange for loans, is changing his not guilty plea as part of an agreement with federal prosecutors, according to a filing made Friday with U.S. District Court in Denver. […]

More Colorado teens finding jobs

2014-06-09

The job market for Colorado’s teens is improving for the first time in several years, according to the latest numbers from the Colorado Department of Labor and Employment. Job seekers 16-19 years old have seen employment levels increase in the past year. In the 12 months from May 2012 to April 2013, 29.4 percent of […]

Hotel occupancy falls for second consecutive month

2014-05-16

The vacancy sign was out at plenty of Colorado Springs hotels in April. The occupancy rate for local hotels in April fell to 55.1 percent from 55.6 percent in April 2013, the second consecutive year-to-year drop and the fourth decline in the past five months, according to the Rocky Mountain Lodging Report. The average room […]

Weather pounds Century Casinos first-quarter earnings

2014-05-15

Winter storms in Colorado blew away much of Century Casinos Inc.‘s first quarter profits, the Colorado Springs-based gaming operator said Thursday. Earnings declined 69.3 percent to $510,000, or 2 cents a share, even as revenue jumped 61.8 percent to $29.1 million after Century raised doubled down on its Polish subsidiary, raising its...

ANB agrees to buy Wyoming bank

2014-05-13

ANB Bank has agreed to acquire Capital West Bank of Laramie, Wyo., in a transaction expected to be completed by year’s end, the Denver-based institution announced Tuesday. Capital West has $160 million in assets spread among its branches in Fort Collins, Cheyenne and Laramie, expanding ANB’s reach in northern Colorado and Wyoming and...

Colorado Springs hotel occupancy dips in March

2014-04-21

Colorado Springs area hotels continued to struggle in March to bounce back from wildfires that struck the area during each of the past two summers, according to the Rocky Mountain Lodging Report. The occupancy rate for local hotels fell less than 1 percent to 52 percent in March from 52.9 percent in March 2013, the […]

Advanced Cannabis Solutions stock continues plunge

2014-04-11

Shares of Advanced Cannabis Solutions Inc. continued to decline Friday in the wake of a 10-day trading suspension ordered by the Securities and Exchange Commission that ended Thursday. The company’s shares fell $4.70, or 25.4 percent, to $13.80 in over-the-counter trading on Friday. The stock fell 38.3 percent on Thursday, the first day of...

Spectranetics wins federal approval for new products

2014-04-10

Spectranetics Corp. Thursday announced the U.S. Food and Drug Administration had cleared two new products for removing infected pacemaker leads that are designed to supplement its medical laser. The Colorado Springs-based company said the new products represent its “entry into the mechanical extraction device market and complement”...

Roop accuses Securities Division of "innaccurate and misleading" statements

2014-04-10

Richard Roop, president of Bottom Line Results Inc., accused the Colorado Division of Securities of using “numerous inaccurate and misleading statements” to win a court order from a Denver judge that he and the company stop selling interests in mortgages on distressed houses. The division alleged Roop and Bottom Line raised more than...

Spectranetics among top Nasdaq stock declines Tuesday

2014-04-08

Shares of Colorado Springs-based medical laser manufacturer Spectranetics Corp. tied Tuesday for the sixth-biggest percentage decline of any company listed on the Nasdaq Stock Market after the company told stockholders Monday to expect lower revenue and higher losses during the first quarter. The company’s shares fell $3.10, or 11.9...

New vehicle registrations downshift in March

2014-04-07

New vehicle registrations in El Paso County hit a rough patch last month, skidding to the lowest monthly total since February 2013, according to a report posted last week by the El Paso County Clerk & Recorder’s Office. Registrations in March declined 16.5 percent from March 2013 to 1,685, the first time they have dropped […]

SBDC to host workshop on grants for businesses hurt by floods

2014-04-03

The Colorado Springs Small Business Development Center will host a workshop on community development block grants and loans available to businesses affected by last September’s flooding from 4:30-6 p.m. Monday at Spencer Hall, 515 Manitou Ave. Kelly Manning, state director of the Small Business Development Center network, and a...

Exelis spinoff to be named Vectrus

2014-04-01

Exelis Inc. said Tuesday that it has selected Vectrus as the name for the spinoff of its Colorado Springs-based Mission Systems division when it becomes a separate publicly traded company this summer. Vectrus comes from a blending of the words vector and trust, Exelis said in a press release Tuesday announcing the new name. “Vector […]

StarTek to host job fair to expand Springs call center

2014-03-24

Denver-based call center operator StarTek Inc. is hosting a jobs fair through Friday at the Pikes Peak Workforce Center. The company wants to hire about 100 customer service representatives to expand its health division operation in Colorado Springs as it moves to a larger quarters. The fair is scheduled from 9 a.m. to 4:30 p.m. […]

Colorado Springs center to manage VA business verification

2014-03-20

The Colorado Procurement Technical Assistance Center, which is based in Colorado Springs, has been selected by the U.S. Department of Veterans Affairs to help eligible veterans and service-disabled veterans get their businesses verified — a requirement for landing federal contracts. The department’s Center for Verification trains and certifies...

Century Casinos starts Calgary racetrack

2014-03-20

Century Casinos Inc. said Thursday it has begun construction on the Century Downs Racetrack and Casino near Calgary in Canada. The Colorado Springs-based gaming company plans to complete the $23 million project by year’s end. The project includes a 0.7-mile track, 550 slot machines, a bar, lounge, restaurant and off-track betting area....

Lockheed Martin moving Korean aircraft work to Springs

2014-03-19

Lockheed Martin Corp.is moving a team of 25-30 people to Colorado Springs from an operation in Goodyear, Ariz., that the military contracting giant is closing. The employees have been working on an Air Force contract to maintain South Korea’s Peace Krypton reconnaissance aircraft system, and they’ll continue to do so in Colorado...

Hotel occupancy bounces back in February

2014-03-19

Colorado Springs area hotels bounced back in February with a strong month after occupancy declined in December and January, according to the Rocky Mountain Lodging Report. The occupancy rate for local hotels last month rose to 52.6 percent from 48 percent in February 2013, the largest percentage gain from the same month a year earlier […]

New vehicle registrations off to fast start

2014-03-04

New vehicle registrations in El Paso County have started the year in high gear. After hitting an 8 1/2-year high in January, registrations in February were up 21.6 percent from a year earlier to 1,965, the third time in past four months that registrations have risen from the same month a year ago, according to […]

Springs ranks as 18th best city for female entrepreneurs

2014-02-21

Colorado Springs ranks as the 18th best city for entrepreneurs among the nation’s 50 largest cities, according to an analysis by NerdWallet, a 5-year-old personal finance online site based in San Francisco. Washington, D.C., topped the list followed by San Francisco and Seattle in rankings that took into account the number of businesses...

UCCS professor's company licenses his technology

2014-02-20

A company started by Michael Larson, a University of Colorado at Colorado Springs mechanical and aerospace engineering professor, has licensed technology he developed for a medical device that uses a laser to fuse human tissue as an alternative to stitches or medical stables in nasal surgeries. Tissue Fusion LLC, a Colorado Springs-based company...

Incubator, angel group sponsor workshop on financing

2014-02-19

Need help on refining your pitch to potential investors? Help is available from a free clinic offered by Colorado Springs Technology Incubator and High Altitude Investors, scheduled from 7:30-8:30 a.m. Feb. 27 at the incubator’s Startup Factory, 3595 E. Fountain Blvd., Room A1. The two groups plan to offer the clinic bimonthly in February,...

Hotel occupancy down in January

2014-02-19

There was plenty of room at the local inn during January, and the guests that did stay in the Colorado Springs area got a pretty good deal, according to the Rocky Mountain Lodging Report. The hotel occupancy rate in the Colorado Springs area last month fell to 43.4 percent from 46.1 percent a year earlier, […]

BBB, Blue Star to host small business event

2014-02-06

If you own or operate a small business and want to get rid of an old computer, you will have an opportunity later this month. The Better Business Bureau of the Southern Colorado, Blue Star Recycling, Champion Windows, KRDO News Channel 13 and American Furniture Warehouse are sponsoring a pair of Data Destruction events Feb. […]

State launches challenge to build app

2014-01-29

Politics makes strange bedfellows, and technology is making it stranger still. The offices of Colorado Gov. John Hickenlooper and Colorado Secretary of State Scott Gessler, who could face each other in the November gubernatorial election, are teaming with the Statewide Internet Portal Authority to launch Go Code Colorado, a competition to build...

Construction begins on Tri-lakes health complex

2014-01-27

The Boldt Co. began construction Monday on a 50,000-square-foot addition to the YMCA of the Pikes Peak Region’s Tri-Lakes center in Monument that would combine the Y’s wellness services with urgent care, primary care, pediatrics, rehabilitation, occupational medicine, imaging and other medical services. The Tri-Lakes Community Health...

CenturyLink launches new version of TV app

2014-01-27

CenturyLink Inc. has launched the latest version of its free Prism TV application – 3.0 – that allows customers to view television and video on demand content at any location, including 25 live television channels outside the home and 100 live channels at home. The application allows customers to view the same content that is […]

Vectra Bank to webcast economic forecast

2014-01-23

Vectra Bank will broadcast a live stream of its 21st annual Economic Forecast Update, which is scheduled from 7:30-9 a.m. Feb. 5 in Denver, on its website at www.vectrabank.com/webcast. Keynote speakers for the event include Patricia Silverstein, president of the real estate analysis and economic development research firm  Development Research...

Allegiant Air adds mobile boarding passes at all its destinations

2014-01-14

Las Vegas-based low-fare carrier Allegiant Air announced Tuesday it can now accept  mobile boarding passes at all 101 airports its serves, including Colorado Springs. Although many larger airports and major airlines can offer or accept mobile boarding passes, 55 smaller airports Allegiant serves did not have boarding pass scanners at their...

Ent to host workshop on mortgage rules

2014-01-02

Ent Federal Credit Union will host a free workshop Jan. 15 for real estate agents to help them learn about new mortgage rules  at the offices of Ent’s mortgage lending operations, 7350 Campus Drive. John Paukovich, Ent’s vice president of mortgage lending, will provide an overview of the new rules, imposed under financial reform...

ANB Bank to break ground on new downtown branch

2013-12-05

ANB Bank will break ground on its new $5 million downtown branch at 2 p.m. Monday southwest of Cascade Avenue and Cimarron Street. The three-story, 18,000-square-foot building is scheduled for completion in September and will house about 25 employees to provide commercial lending, cash and investment management, trust and personal banking...

Vehicle registration rebound in November

2013-12-04

New vehicle registrations got back on track in November, jumping 28.7 percent to the highest monthly total in more than six years. The 2,366 new vehicles registered last month was the most since August 2007 and the percentage increase was the biggest since April, according to a report posted Tuesday on the El Paso County […]

New vehicle registrations down in October

2013-11-21

The El Paso County auto market hit another speed bump in October. New vehicle registrations last month fell 6.8 percent from a year ago to 2,160, the third decline in the past five months, according to a report posted on the El Paso County Clerk and Recorder’s Office website. Part of the reason for the […]

Westside Pioneer to move to online only in January

2013-11-19

The Westside Pioneer will stop publishing its weekly print edition Dec. 19 and become an online-only publication in January, the 10-year-old weekly newspaper announced in its Nov. 14 print edition. The move resulted from higher printing and mailing costs, postal inefficiencies, time demands, personal health erosion and the publishing...

Technology Association reaching out to Springs companies

2013-10-30

The Colorado Technology Association is trying to live up to its name and become less centered on the Denver area by reaching out to technology businesses in Boulder, Colorado Springs and Fort Collins. To reinforce that message, CEO Erik Mitisek, who has been on the job just six months, was in the Springs Tuesday for […]

New vehicle registrations increase in September

2013-10-04

New vehicle sales in El Paso County keep chugging along. The latest numbers from the El Paso County Clerk and Recorder’s Office show that new vehicle registrations in September were up 11.7 percent from a year earlier to 1,997. The September gain follows an even stronger increase in August – 22.3 percent – that reversed […]

Greenwood Village Internet firm opens downtown office

2013-09-24

Greenwood Village-based Aspenware Internet Solutions has opened an office in downtown Colorado Springs at 118 N. Tejon St., Suite 200, with three employees to take advantage of “a deep pool of talent and innovation in Colorado Springs,” company CEO Adam Roderick said.  “We already have several people from Colorado Springs working at Aspenware....

CarMax hiring more than 1,000 nationwide

2013-09-23

CarMax Inc., the nation’s largest used car retailer, is hiring more 1,000 nationwide, including sales personnel, technicians, parts and operations support employees at its 4010 Tutt Blvd. location in eastern Colorado Springs. The Richmond, Va.-based company said most of the openings are in sales as well as service operations for detailers...

Kohl's hiring 50,000 for holiday shopping season

2013-09-19

Looking for a short-term job just for the holidays? Wisconsin-based retailer Kohl’s Department Stores said Thursday it plans to hire more than 50,000 nationwide on a seasonal basis to support holiday sales in its 1,158 stores, 10 distribution centers and credit operations in Wisconsin and Texas. The company said in a press release that it...

Hotel occupancy up in August

2013-09-18

Indicators measuring the tourism industry in the Colorado Springs area are painting a mixed picture. Local hotel occupancy rose slightly in August to 74.7 percent in August from 74.5 percent in August 2012 and the average daily room rate increased 3.9 percent to $98.63, according to the Rocky Mountain Lodging Report. The August gain was […]

New vehicle registrations back on track in August

2013-09-11

The local auto market found another gear in August. New vehicle registrations in El Paso County in August jumped 22.3 percent from a year ago to 2,088, according to a report posted Wednesday on the El Paso County Clerk & Recorder’s Office website. The August gain is the best since April and follows declines in […]

New vehicle sales hit roadblock in past two months

2013-08-06

The local car sales boom may be running out of gas. New vehicle registrations in El Paso County have declined in each of the past two months, compared with the same month a year earlier, according to a report posted Monday on the El Paso County Clerk & Recorder’s Office. Registrations in July were down […]

CNBC ranks Colorado seventh best for business

2013-07-10

Cable television network CNBC on Wednesday ranked Colorado seventh on its “Top States for Business” annual list of competitiveness among states in attracting businesses, up one place from an eighth-place ranking last year. Colorado got high marks for its economy, technology and innovation and work force, all ranking in the top 10...

Springs hotel occupancy increases for first time in 3 months

2013-06-19

Hotel occupancy in the Colorado Springs area in May rose compared with the same month a year earlier for the first time since January, according to the Rocky Mountain Lodging Report. Occupancy increased to 66.7 percent in May from 65.6 percent in May 2012, while the average room rate edged up 0.6 percent during the […]

Bennet stresses importance of state's space industry

2013-05-30

Colorado needs to better promote itself as a key hub of the nation’s aerospace industry, U.S. Sen. Michael Bennet, D-Colo., said Thursday while at the U.S. Space Foundation‘s headquarters for a series of briefings by local defense contractors, foundation officials and military commanders. “We are in tough competition with other...

Airport commission debate heats up

2013-05-29

What a difference a day makes. Colorado Springs City Councilman Joel Miller sent a letter Tuesday morning to City Attorney Chris Melcher, which he immediately posted on his council member Facebook page, alleging that a request by the interim director of the Colorado Springs Airport violated the city code. Miller’s letter was follow-up...

Tech For Less receives quality, environmental and safety certifications

2013-05-23

Tech For Less has received certifications for quality management and environmental management from the International Organization for Standardization and for workplace health and safety from the Occupational Health and Safety Assessment Series. The Colorado Springs-based online electronics retailer received the ISO 9001:2008 certification for...

Rocky Mountain Chocolate Factory debuts in breakfast cereal

2013-05-16

Rocky Mountain Chocolate Factory has begun a partnership with Kellogg Co. to create a limited-edition breakfast cereal called Kellogg’s Rocky Mountain Chocolate Factory Chocolatey Almond that debuted last week in the grocery aisle of Colorado Target stores. The cereal features a combination of sweetened and cocoa-dusted flakes of corn,...

Curbside Cuisine opens for diners

2013-05-16

Curbside Cuisine, a gathering place for food trucks downtown at 225 N. Nevada Ave., opened Wednesday with The Local, The Crepe Crusaders and High Grade Catering and Food Truck.   Creole Kitchen is scheduled to open Monday and Za Pizza and Shuga’s Portable are set to open next month in the former service station at […]

Aaron Brothers leaves Colorado Springs after 10 years

2013-05-13

Aaron Brothers Art & Framing closed its only Colorado Springs store March 1 after company officials told the leasing director for the shopping center where the store had operated that the location “never did well enough” in the Colorado Springs market to continue operating. Manny San Fernando, leasing director for Kratt...

New vehicle sales off to best start since 2004

2013-05-09

After a slow start, new vehicle registrations with the El Paso County Clerk and Recorder’s Office are off to the fastest start in nearly a decade. Registrations, which generally happen about 45 days after a new vehicle has been purchased from a dealer, are one of the best measures of local vehicle sales. Registrations for […]

Blogger Bio

Wayne Heilman has been a business writer at The Gazette since 1982. He has covered most industries in Colorado Springs and edited the weekly Inside Business magazine for The Gazette. He covers the local economy and the finance, transportation, technology and aerospace industries and works with reporters throughout The Gazette newsroom on financial stories.

Phone: (719) 636-0234

Email: wayneh@gazette.com
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