The Southern Colorado Business Forum & Digest is celebrating its First Anniversary! On behalf of an incredible team of professionals who work passionately to deliver a quality business and economic publication, I am pleased to say The Digest has reached its first anniversary! Twelve quality monthly editions, 40+ regular Top News email blasts, and original weekly regional business news radio programs all in the vault! And, we’ve just recently added a weekly appearance on Business First Look on KKTV — Monday mornings on KKTV 11 NEWS (Gray Media/CBS Affiliate).
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Contents / August/September 2024
ADVANCED MANUFACTURING
11 Quietly Advancing Healthcare: So Co Medical Technology, Device Manufacturers in Plain Sight
Due to technological advances over the past decade-plus, medical equipment and supplies manufacturing has grown tremendously in the region. Colorado Springs boasts one of the nation’s highest concentration of the industry.
BY WAYNE
HEILMAN AND JEANNE DAVANT
14 Prominent Players in Med Tech and Device Manufacturing
Who are the dominant med tech and device players in the Pikes Peak region? Read about the dozen our senior writers located, and what they learned about each one.
BY
WAYNE HEILMAN AND JEANNE DAVANT
26 The Empirical Method for Success
On the above list is a global provider of testing, regulatory consulting and quality assurance for the medical device industry. Learn the genesis of this woman-led company and the formula that helps them complete their work 2030% faster than the industry average.
BY LUCY RICHARDSON
NONPROFIT
16 From Air Force Operations to CEO of Springs Rescue Mission
CEO Jack Briggs is scheduled to depart the Springs Rescue Mission at the end of September. Senior writer Pam Bales sat down for a look at his career journey to the work that he holds dear.
BY PAM BALES
SMALL BUSINESS
17 Navigating the Lending Process
Colorado became the first state to approve regulations to protect consumers from known or foreseeable risks of “algorithmic discrimination.” Not sure what that means? Read more here to learn who the legislation protects, and who it monitors.
BY AIKTA MARCOULIER
32 The Strength of Business Acquisitions
A partnership between a development company and a construction company has become an entity focused on smaller projects and shorter timelines in order to positively impact the community. The result is a second-to-none corporate culture that puts its people ahead of profit.
BY TERRI HAYES
PEOPLE
20 Professionals on the Rise
Get to know some of those people in the region who have made leaps in their careers. This is where The Digest celebrates the achievements of Southern Colorado’s workforce.
ENERGY
22 Building the Future: Colorado Springs Utilities’ Five-Year Plan
After 100 years of service, changes and demands of the utility industry have required the organization to invest heavily in their systems. Read about what this significant growth and reinvention mean for users of their services.
BY COLORADO SPRINGS UTILITIES
Could gamers be the latest level of security to protect our nation’s space assets? P. 36
ECONOMIC FORUM
30 Pikes Peak Region Economy Sees Impact of High Interest Rates
As an area experiencing rapid population growth, and also one that has a higher degree of population turnover than most places, construction and real estate play outsized roles in the Colorado Springs economy.
BY DR. BILL CRAIGHEAD
AEROSPACE
33 Space Foundation’s Latest Report Reveals 2024 Precedent
Our staff reporter breaks down the Foundation’s report on the first half of 2024 from the frontlines of the space frontier. The bottom line: launch attempts are up, 2023 was surpassed and weather forecasting got a big boost. Read for more details.
BY EMILIE HAGOPIAN
TECHNOLOGY
34 Groundbreaking Set to Launch Colorado Quantum Epicenter
With a 130,000-square-foot manufacturing plant, local and state financial incentives and a $75 million federal grant, Entegris is on track to do its part toward building a “resilient domestic infrastructure in support of the semiconductor industry.”
BY JEANNE DAVANT
CYBERSECURITY
36 Space Assets Coalition Projects Prepare for Launch
Could gamers be the latest level of security to protect our nation’s space assets? Data Mine of the Rockies will pair teams of students with corporate and government sponsors to solve problems using data science. Lockheed, L3Harris, U.S. Air Force, U.S. Space Force and others are presenting problems to the inaugural session this fall.
BY JEANNE DAVANT
WORKFORCE
38 Out of the Classroom, into the Workplace
In Harrison School District 2, students also are exposed to careers through job shadowing and paid apprenticeships, and course work is being built around career tracks. At UCCS, the College of Business and Administration is building industry-related credentials and certifications into coursework. Over the past few years, local educational institutions have focused increasingly on programming to meet changing workforce needs and prepare students for their roles as global citizens.
BY JEANNE DAVANT
Updates From Around the Region
Statewide
El Pomar Grants go to Good Work
El Pomar Foundation celebrated the impactful work of 82 nonprofit organizations at its 2024 Merit Grant Reception held at Penrose House on August 6. The event marked a significant distribution of $558,000 in grants across three categories: El Pomar Trustee Merit, Elevating Leadership Development (ELD) Merit and the Dorothy Ferrand Fund.
El Pomar President and CEO, Kyle H. Hybl, emphasized the event’s role in fostering connections among community leaders. “This reception is an opportunity each year for us to thank and connect with leaders of organizations doing meaningful work in our communities, and for them to connect with each other,” Hybl states.
The Trustee Merit grants, totaling $375,000, were awarded to 55 organizations statewide based on recommendations from El Pomar’s Trustees. Dave Palenchar, Chair of the El Pomar Foundation Board, recognized these recipients during the ceremony.
ELD Merit grants, amounting to $110,000, supported 24 organizations focused on Southern Colorado’s communities of color.
Additionally, the Dorothy Ferrand Fund, dedicated to supporting low-income families in the Pikes Peak region, disbursed $73,000 among three organizations. The funding decisions were guided by the research and nominations of the El Pomar Fellowship Class of 2022.
El Pomar Foundation, established in 1937 by Spencer and Julie Penrose, remains committed to enhancing Colorado’s wellbeing through annual contributions totaling approximately $25 million. The foundation's initiatives span arts, culture, civic initiatives, education, health and human services, alongside leadership development programs.
Elevating Leadership Development (ELD), originally launched as Emerging Leaders Development in 2001, continues to facilitate access to leadership opportunities for individuals of color across the Colorado Springs to Pueblo corridor. The program also hosts the Milton E. Proby Cultural Heritage Room Induction Ceremony, honoring contributions from Southern Colorado’s diverse communities.
The Dorothy Ferrand Fund, established in 2005 from a generous bequest, reflects Mrs. Dorothy Ferrand’s legacy of compassion for underprivileged children in the Pikes Peak region. Her commitment to supporting educational, medical, and other essential needs continues to shape El Pomar Foundation’s philanthropic efforts.
El Paso County Meyer Burger Announces End to Plans for SoCo
Swiss solar equipment manufacturer Meyer Burger Monday canceled plans to convert a former semiconductor manufacturing plant in northwest Colorado Springs to produce solar cells, saying the project was “no longer financially viable.”
The company announced plans in July 2023 to spend $400 million over five years to shift the 700,000-square-foot plant to solar cell production and employ 350 people. The plant was to begin production by the end of 2024, but Meyer Burger said in March it was delaying the project as it sought financing for the conversion.
The financing was to be completed by June 30, but two weeks ago the company said it was delaying reporting its earnings for the first half of the year while it tried to secure “additional financing” and formed a “strategic partnership with a renowned technology partner.” As part of its announcement Monday cancelling its plans in Colorado Springs, Meyer Burger also said “planned cooperation with a U.S. technology group will not be implemented.”
Johnna Reeder-Kleymeyer, the chamber president and CEO, said Monday in an email statement, “The Colorado Springs Chamber & EDC is disappointed in Meyer Burger’s decision to discontinue their Colorado Springs expansion. We have worked tirelessly over the past year to help Meyer Burger launch in Colorado. We understand their need for business realignment to achieve sustainable profitability.”
Jessie Kimber, economic development
officer for the City of Colorado Springs, said in an email statement “While we are disappointed in Meyer Burger’s announcement, we stand ready to support them if and when they’re ready to be here. We understand that sometimes businesses have to make changes to their plans, and this announcement stands as an example of why our local incentives are performance based.”
Meyer Burger also shelved plans to expand another solar energy system manufacturing plant in Arizona and will instead keep open a plant in Germany that it had planned to close, saying it was the “most economical option” to produce cells. The company said its board directed management to develop a “comprehensive restructuring and costcutting program” to help the company return to “sustainable profitability.”
Meyer Burger had hoped to qualify for up to $1.4 billion in U.S. tax credits and applied for up to $250 million in loans from the U.S. Department of Energy and was approved by state and local officials for nearly $100 million in financial incentives. The Colorado Springs and Arizona plants were part of the company’s plans to shift its focus to the U.S. from Europe as losses mounted from governmentsubsidized competition from China.
The company’s stock fell by more than 50% after the announcement, which also said its vice chairman had resigned and Meyer Burger would further delay reporting its first half financial results another two weeks to the end of September, or later, if regulators approve a longer postponement.
El Paso County
Regional Professional Business Organization Links & Events
BBB of Southern Colorado bbb.org/local-bbb/bbb-of-southern-colorado
Castle Rock Chamber castlerock.org
Colorado Springs Chamber & EDC coloradospringschamberedc.com
The Colorado Springs Black Chamber cosblackchamber.com
Greater Woodland Park Chamber of Commerce woodlandparkchamber.com
Latino Chamber of Commerce of Pueblo, Inc. pueblolatinochamber.com
Pueblo Economic Development Corp. pedco.org
Royal Gorge Chamber Alliance royalgorgechamberalliance.org
Colorado SBDC - Pikes Peak Small Business Development Center pikespeaksbdc.org
Southern Colorado Women’s Chamber scwcc.com
Tri-Lakes Chamber of Commerce Economic Development Visitor Center trilakeschamber.com
Trinidad & Las Animas County Chamber of Commerce tlacchamber.org
Chamber organizations interested in seeing their names here should contact Holley Johnson at hjohnson@coloradomediagroup.com
Advanced Manufacturing Case Study in Med Tech: From Coors Cans to Cancer Cells
BY JEANNE DAVANT
Chromatic Technologies is best known for its temperaturesensitive ink used to print the mountains on Coors Light cans that turn blue when the beer is cold. The Colorado Springs-based company supplies specialty packaging inks to hundreds of food and beverage producers in more than 50 countries, but it also has a robust and growing medical division.
Chromatic founder Lyle Small has recently created a spinoff company to develop products that could revolutionize cancer treatment. Small’s new enterprise, Lahjavida, is testing dyes that carry chemotherapy agents, bond to cancer cells and deliver medication exactly where it is needed without the nasty side effects of traditional therapy.
Last year, Small turned over Chromatic’s leadership to Chief Commercial Officer Daniel Wachter, who is now CEO. Small is focusing on mouse studies of the targeted therapy’s safety and effectiveness against various types of cancer, and raising $2.5 million from angel investors to confirm and improve results.
“We will be headed toward human trials in 2027 — that’s the goal,” Small tells Digest Publisher Dirk Hobbs in a June 7 Business Digest Radio broadcast.
Small developed a temperaturesensitive ink out of his dorm room while he was a chemistry student at Cornell University. He started Chromatic in 1993 fresh out of college.
Early marketing efforts included the financial services sector, and the company supplied sunlightactivated and glow-in-the-dark inks. Small found that thermochromatic technologies had the most commercial potential for food and beverage packaging.
He moved the company to Colorado Springs in 1997 because of its central location and outdoor environment, Wachter says.
Local resident and CEO Lyle Small founded Chromatic Technologies, Inc. (CTI) in a Cornell University dorm room as a chemistry student in 1993.
Small approached Coors in 2002. According to Molson Coors, the technology was adopted in 2007, and the unique labeling helped propel Coors Light to the second-best-selling beer in America.
Since then, Chromatic, which employs about 30 people at its R&D and manufacturing facility on Elkton Drive, has focused heavily on consumer packaged goods, Wachter says, but has branched out to other industries, including roofing, medical devices and pharmacology.
Products in the medical sector include a labeling ink that is employed on Encision, a surgical scissor designed for only two uses, says Michael Mayer, Chromatic’s market development director. After the first use, the ink changes color after the instrument has been sterilized, telling the surgeon it is ready for a second procedure and then must be discarded. Other medical applications are inks that indicate proper and intact seals on medical instrument packages; technology that shows when medications have been improperly exposed to cold and damaged by freezing; heat-activated inks that show when a product has been tampered with; and fluorescing and pressure-activated pigments that can confirm the authenticity of a medical product.
Small hired Wachter in 2020 to help him scale the business globally.
“I was already intrigued by the technology,” Wachter says, “but what intrigued me most was that this business funds a project that has the potential to change chemotherapy and cancer treatment.”
Small had become interested nearly 15 years ago when he learned about a dye that sticks to cancer cells developed by a group of scientists. When a special infrared light shines on it, the dye fluoresces and shows surgeons where to cut. A few days later, he saw a TV broadcast that described fighting cancer with gold nanoparticles.
His original idea, Smalls tells Hobbs, was to bond the dye to gold nanoparticles that could be heated when they were delivered to a tumor. He hired chemist Dr. Ray Wang to help develop the delivery system. The project hit some obstacles and ultimately proved to be a nonstarter commercially, Small says.
In 2020, Small and Wang turned their attention toward chemotherapy, already the standard in treating cancer, and created a process whereby the chemo drug does not trigger until it finds the distinctive
chemical environment of a tumor.
“The delivery system works with 30 different types of cancer, which makes it pretty unique,” Small says.
Lahjavida (the name is a FinnishPortuguese mashup that means gift of life) has completed cell studies that showed the drug killed cancer cells in a petri dish and mouse studies that demonstrated it accumulates in colon tumors and stops their growth. The next steps, Small says, are to determine the maximum tolerated dose to shrink tumors and to test the drug’s effectiveness on lung cancer.
Small thinks that, if he can demonstrate the drug works in humans, it will be highly sought after by pharmaceutical companies. While the current effort focuses on cancer, “my vision is to use this as a delivery system for drugs, so that any drug could be made more effective and less toxic,” he says.
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
Advanced Manufacturing
Quietly Advancing Healthcare: So Co Medical Technology, Device Manufacturers in Plain Sight
BY WAYNE HEILMAN AND JEANNE DAVANT
The medical equipment and supplies manufacturing industry in the Colorado Springs area doesn’t get the attention paid to the semiconductor, aerospace or cybersecurity industries, despite becoming a major sector that employs more than 2,000 people at 37 companies.
The industry pays an average annual wage of more than $76,000, pumps more than $200 million a year into the area’s economy and is expected to grow by 4% during the next five years, according to data compiled by the Colorado Springs Chamber & EDC.
Colorado Springs ranks among the nation’s highest concentration in the medical manufacturing industry – its local size relative to the rest of the nation was 1.5 times the national average in October, ranking 32nd among the nation’s 387 metropolitan areas, according to the U.S. Bureau of Labor Statistics. Most of the local industry is part of the surgical
appliances and supplies sector with a relative size that is nearly four times the national average, ranking seventh among metro areas.
Medical equipment and supplies manufacturing is among six major industries the chamber targets for economic development for capital investment and expanded employment. The chamber recruits companies in these targeted sections – which include advanced manufacturing (such as semiconductors), aerospace and defense as well as cybersecurity and software development – by attending trade shows, meeting with existing employers in those sectors to promote potential growth projects and contacting vendors and suppliers in those industries about expanding here.
“This industry is one of the best kept secrets in the area. They tend to keep data and what they’re doing very close to the vest, more so than others. They’re not as vocal as other industries are,” says Tim Vanderhoof, the chamber’s vice president of economic development. “The industry has tremendous growth over the last 10 to 12 years, all due to the technological advancements and the
Elyse Blazevich, CBA President & CEO
“Across
the state, there are more than 720 life sciences companies that directly employ 38,000 professionals, and that represents about $4.4 billion in annual payroll.”
research and development.”
Some of the companies doing R&D in the Pikes Peak region are leading breakthroughs in healthcare. Colorado Springs company Lahjavida is developing a groundbreaking cancer treatment using a tumor-targeted dye that activates chemotherapy drugs within cancer cells while minimizing toxic effects on healthy tissue. The company’s founder and CEO Lyle Small, also founded, which provides temperature-sensitive, colorchanging inks for medical devices, pharmaceutical packaging and other products. [See sidebar P.14.]
The medical device sector gained some visibility when a product by Colorado Springs’ Ocutrx Vision Technologies was a finalist in the Colorado Chamber of Commerce’s Coolest Thing Made in Colorado competition. The OcuLenz, a wearable headset that generates visual images for people with age-related macular degeneration, was named runner-up in the 2023 contest.
At the state level, the Colorado BioScience Association earlier this year launched the Colorado Hub for Health Impact, a national economic
development campaign designed to encourage life sciences companies to start, grow or relocate in the state. The association works with the Colorado Office of Economic Development and International Trade and 22 other organizations to support the life sciences sector, ranked by OEDIT as one of the state’s 14 major industry sectors.
“We have seen some incredible growth and momentum across life sciences broadly, with med tech being strongly represented,” says CBA President and CEO Elyse Blazevich. “Across the state, there are more than 720 life sciences companies that directly employ 38,000 professionals, and that represents about $4.4 billion in annual payroll.”
According to data developed by CBA, the Pikes Peak region is home to 5.8% of the state’s life science assets and resources, including core companies such as Philips as well as academic and research institutions including the U.S. Air Force Academy and University of Colorado Colorado Springs, Blazevich says. The confluence of
CTI partnered with Encision to develop the 2X enTouch Medical Scissors. The new sterilization indicator from CTI doubles the number of uses for hospitals.
Photo Source: Chromatic Technologies
Advanced Manufacturing
Jeff Shimon, Director, Research & Development at Philips Image Guided Therapy Devices
“There are some tie-ins to the semiconductor industry, so we share some of the same talent pool. The hightechnology industry draws talent across the Front Range that we can use to build our workforce.”
advanced manufacturing industries, research institutions and the aerospace and defense industries offers fertile ground for growth of the life sciences sector in the Pikes Peak region, she says.
Colorado was selected in July by the U.S. Economic Development Administration as the nation’s hub for the emerging quantum industry, which also supports life sciences. Superfast quantum computing will become increasingly important to the development of devices and therapeutics for more personalized medicine, Blazevich says.
Jeff Shimon, site leader and director of research and development for the Image-Guided Therapy Device units of Philips in Colorado Springs, says the area isn’t the hotbed for the industry that Minneapolis and San Diego are, but medical manufacturers have benefitted from a large local technology workforce from which they can draw talent. Workers are drawn to the Colorado Springs area by its reputation as a desirable place to live and a lower cost of living than the Denver area.
“There are more companies in this industry in Colorado than [most] people realize. Quite a few of those companies are doing research and development though Colorado Springs has fewer of them” than are operating in the northern part of the state, Shimon says. “There are some tie-ins to the semiconductor industry, so we
share some of the same talent pool. The high-technology industry draws talent across the Front Range that we can use to build our workforce.”
Lindsay Pack, CEO of InnovaFlex Foundry, a Colorado Springs-based manufacturer of flat-panel and thin-film semiconductors used for X-rays, says both aerospace and medical manufacturing must navigate a web of government regulations, so skilled workers in either industry can switch between them. Aerospace manufacturers must meet detailed specifications for military customers and rigorous standards for the aviation and space industries.
“There is opportunity for even greater growth [in the medical manufacturing industry], especially as people recognize the synergies both in talent and components. We are supplying critical components for the medical, aerospace and automotive industries,” Pack says. “Having talent familiar with working in a regulated industry is a huge plus for the [medical manufacturing] industry. The community has so much experience in regulated industry that the skills are transferrable.”
Engineers are a key part of the talent pool for the medical manufacturing industry and are in high demand due to the industry’s heavy reliance on research and development for new products or upgrades and updates to existing products, Vanderhoof says. A key
Medical Manufacturing by the Numbers
2,000+ local employees
37 Front Range-area companies
Average annual wage of $76,000+
$200 million pumped into local economy
Anticipated growth of 4% in the next five years
supply of labor comes from those leaving military service and seeking jobs in the private sector – between 250 and 400 service members in the Colorado Springs area leave the military each month, he says.
Ian Askill, CEO of Colorado Springs-based Aspire BioTech, which makes medical adhesives and other biomaterials, says the industry “has grown a lot over the past 20 years, faster than renewable energy. There have been huge advancements in technology, so the market has grown tremendously. The [industry’s] potential is quite high, but the rate of acceleration for anything medical is slower because of the regulatory pathway and the time needed for approval.”
Some of that growth could come from within. Eric Yarborough, vice president of operations for Bal Seal in Colorado Springs, says its local manufacturing plant has boosted output more than fourfold in the 10 years since the company opened a local facility. The company, which makes implanted devices for spinal stimulation, pain management and deep brain stimulation, has added 50 employees in the past four years and has grown about 10% in the first half of 2024.
“The medical implantable industry will continue to grow as baby boomers need more healthcare, and we are expecting faster growth in the neurological medical sector because
of the concern over pain medications and greater acceptance of implantable devices by insurers,” Yarborough says. “We could double employment here without expanding the building because we have plenty of room” to add more production lines in its current plant.
Kelly Elliott, president and CEO of Eminence Clinical Research, a Colorado Springs company that helps medical manufacturers nationwide with clinical studies, regulatory affairs and quality assurance, says she would like to help local officials bring more medical manufacturing to the Colorado Springs area.
“I would like to make it so this industry is no longer a hidden gem here, and instead much more well known for medical manufacturing,” Elliott says. “I think the industry needs to get the word out about what already exists here.”
Wayne Heilman is a senior writer for the SoCo Business Forum & Digest.
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
Advanced Manufacturing
Prominent Players in Medical Tech and Device Manufacturing
BY WAYNE HEILMAN AND JEANNE DAVANT
The medical technology and device manufacturing industry in the Pikes Peak region encompasses a variety of companies, products and processes. Most of the area’s largest medical manufacturers are the result of acquisitions – major players that bought startups or small companies that were either founded in Colorado Springs, moved here or expanded to the area. Here are some of the major and lesser-known players:
Jabil: The St. Petersburg, Florida-based manufacturing outsourcing giant took over manufacturing of orthopedic and neurological products for joint reconstruction, trauma, spine, sports medicine and other uses from Johnson & Johnson in 2019. The plant, which now employs about 1,000 people, was opened in Monument in 1979 by Swiss medical manufacturer Synthes, and acquired in 2012 by Johnson & Johnson, which has since closed a distribution center at the same location.
Philips: The Dutch medical and electronics giant acquired Colorado Springs-based medical laser manufacturer Spectranetics in 2017 for $2.2 billion. Spectranetics, started in 1984, is now part of Philips’ Image-Guided Therapy unit and employs 550 in the Colorado Springs area for manufacturing, product development, sales and other roles. Philips launched its next-generation version of the laser in 2021 and several other upgrades to its product line since then, including the ability to use some of its products in new ways.
Bal Seal Engineering: The Foothill Ranch, California-based company opened in Colorado Springs at a temporary location on Garden of the Gods Road in 2014 while its 155,000-square-foot plant in the InterQuest business park was built. Bal
Seal now employs 205 to make implanted devices for spinal stimulation, pain management and deep brain stimulation, as well as tiny springs used in the aerospace and automotive industries. The company is now owned by Bloomfield, Connecticut-based aerospace giant Kaman, which was acquired in April for $1.8 billion by Nashville, Tennessee-based private equity firm Arcline Investment Management.
InnovaFlex Foundry: The company was called dpiX when it moved from California to a former semiconductor plant near the Colorado Springs Airport in 2011, and changed its name last year to InnovaFlex Foundry. The firm, which employs 140, applied last year for a CHIPS Act grant for a planned expansion but hasn’t decided where the project will be built. The Colorado Economic Development Commission approved more than $2.8 million in state income tax credits a year ago for Project Dots, a code name for a company that plans to add 189 jobs. The description of the company matches InnovaFlex’s LinkedIn profile.
Nissha Medical Technologies: The Japanese manufacturer acquired Colorado Springs-based contract medical manufacturer CEA Medical Manufacturing in 2016. The operation, which employs 90 people, makes surgical staplers, clamps, biopsy and ultrasonic surgical devices, catheters, wires, cables and connectors. As Nissha acquires other companies, it often uses its existing plants in Colorado Springs and nine other locations to manufacture products made by the newly acquired firms.
1986 by Ontario, California-based Winsford Corp., it launched a line of storage products and carts for the healthcare industry, such as acute care and crash carts. Primary markets are hospitals, surgery centers, doctors’ offices and long-term care facilities. The company employs about 60 people.
LGM Pharma: Headquartered in Boca Raton, Florida, this international company maintains a formulation development lab in Colorado Springs that is part of LGM’s drug manufacturing division. The lab, a Research & Development Center of Excellence, formulates, develops and tests drug products for large and small pharmaceutical companies. The company, which has about 20-25 employees in Colorado Springs, also has a pilot plant where it prepares small batches of drug formulations for clinical trials and additional testing, and also develops analytical tests.
Empirical Technologies: The company partners with manufacturers in the healthcare industry that make mechanical devices, testing them for safety and compliance with regulatory standards. Locally, it specializes in mechanical testing of orthopedic appliances and works with companies that make spinal fusion devices, fracture plates, total knee and hip replacements, and prosthetic legs. Its regulatory consulting branch assists clients with quality control and regulatory submissions. Empirical is part of the medical division of Marietta, Georgia-based Applied Technical Services and employs about 20 people in Colorado Springs.
The Harloff Co.: Founded in 1951 by Norman Harloff in his garage, the company originally made hotel maid carts. After the company was acquired in
Advanced Manufacturing
Aspire Biotech: The Colorado Springs-based company was started in 2001 by Ian Askill and now employs about 10 people to develop and manufacture medical adhesives and other biomaterials that are used instead of sutures. Askill had started MedLogic Global in 1991 and, after the company shut down in Colorado Springs, its equipment in Colorado Springs was sold to Aspire and its British operations were sold to Advanced Medical Solutions.
Preferred Cell Systems: This company is the exclusive manufacturer and supplier of all reagents and in vitro assays originally produced by HemoGenix. Its assay kits and cell culture media are used in stem cell research, cellular therapy and in vitro toxicity testing. Employee information unavailable.
BioRealm International: BioRealm in Monument provides genomics, statistics and information technology services to a wide range of clients. The company developed the Smokescreen® Genotyping Array, a platform for genetic research on addiction, smoking cessation, the consequences of smoking and treatment approaches. Clients include medical and pharmaceutical companies, government entities and academic institutions. Employee information unavailable.
New Generation Wellness: With roots stretching back 100 years, this Irvine, California-based company manufactures private-label nutritional supplements including store brand tablets, capsules and powders, with premium, organic non-GMO, vegan, vegetarian and gluten-free formulations. The company also has a product development and R&D division that works with clients to design and market products for specialized markets. Employee information unavailable.
Wayne Heilman and Jeanne Davant are senior writers for the SoCo Business Forum & Digest.
Nonprofit From Air Force Operations to CEO of Springs Rescue Mission
BY PAM BALES
Jack Briggs took the helm of the Springs Rescue Mission (SRM) in 2020 amidst global challenges, especially for the homeless populations. He brought extensive expertise, having served on the SRM Board of Directors and retired as Air Force Director of Operations for U.S. Northern Command headquarters in Colorado Springs.
How does a retired Major General, USAFA graduate, 30-year pilot and vice president of Global Resiliency and Security at New York University become the president and CEO of a homeless initiative? He had a personal connection, and, as he explains, many of us do.
“Growing up, I had a sibling who was on and off the streets. She struggled with addiction. We tried to help, but over time it caught up with her and she passed away,” shares Briggs. “I had seen it firsthand. I saw the struggle, the insecure housing, the loss of dignity and hope. So, I said yes.”
Four years ago, Briggs and his wife moved back from New York City to become SRM’s president and CEO. He has since worked hard to serve those in need, educating the public about their programs and working with more than dozens of partners in the area to address the root causes of the issue.
“Our mission was pretty clear — we want to see lives transformed for eternity and filled with hope as our community works together to fight homelessness, poverty and addiction,” notes Briggs. “However, the ‘how’ we do it was the hardest part.”
Briggs explains that when he joined SRM, he came into a collaborative culture of more than 100 staff members, but the backend of the operations needed revitalization. In addition to his military background, Briggs brought a doctorate in education, leadership and organizational behavior theory from NYU.
“We were running like an organization on the verge of significant growth,” Briggs reflects.
“We needed infrastructure and expanded programming to match the capacity at which we were running. Plus, some people were weary of us or what we did. We needed to show the community progress and help our guests make progress, too.”
Under his leadership, SRM started a stoplight approach to programs. Red programs were a no-go, yellow a maybe and green a yes, indicating something worth implementing in other areas.
Springs Rescue Mission is unique, according to Briggs, because of its minimal barriers to entry. There are only two requirements to receive help at SRM: you must be safe for yourself and others, that’s it.
“We are a Christian-based organization,” he says. “We work with more than 50 partners in the community and not all of them share our same beliefs. That’s OK — we respect each other, work together and that’s really what it is all about — helping those in need.”
SRM’s approach works to restore the dignity and worth of every person they touch, whom they call guests.
“So many of our guests have lost their sense of worth — just being a human being, having choices and that’s how we have come up with our three basic practices.”
The Transaction
Briggs is often asked about how best to interact with homeless people in a community. “It doesn’t matter what you do, you aren’t going to change their life at that moment. Instead, I suggest you roll down your window, introduce yourself, ask what the person’s name is,” he says. “It’s all about dignity and being seen.”
The Incentives
The second practice is about decisions. “Many folks on the street feel like they have no choices, but they do,” he emphasizes. “We help reinforce that by providing incentives — they aren’t huge. If you get a physical, you can upgrade your meal from oatmeal to eggs and bacon. We are helping them get in the habit of making decisions, making choices for themselves.”
Connections
“The collaboration between the partners we work with is amazing,” Briggs notes. “We divide up our problems and let the best group be in charge, like families. We don’t house them, but we can keep them safe until we connect them to a different service.” Briggs observes that there are two sides to the issue of homelessness.
“People care, but don’t want to look at the issue or touch it,” he notes. “That is not going to address the issue.” He claims SRM’s efficiency and compassion have greatly impacted the city’s homeless population, where under 400 people sleep on the streets each night. Compared to other big cities, this figure is diminutive.
“I’ve truly been honored to lead this organization, especially having experienced someone in my own family that I couldn’t help,” reflects Briggs. Briggs’ tenure ends on September 30, 2024. SRM’s Board of Directors is conducting a national search that anticipates naming a new president and CEO by the end of the year.
Pam Bales is a senior writer for the SoCo Business Forum & Digest.
FOR MORE INFORMATION or to volunteer with the SRM, visit: SPRINGSRESCUEMISSION.ORG.
Jack Briggs’ tenure with Springs Rescue Mission ends on September 30, 2024.
Photo Source: Springs Rescue Mission
Small Business
Navigating the Lending Process Steps Entrepreneurs Should Take
BY AIKTA MARCOULIER
Over the years, the questions I get most often from entrepreneurs are what grants are available for new businesses and how do I get a business loan? Securing business capital can be frustrating and defeating for many individuals who have had the dream of turning their unique idea into a new small business. Grants are nearly nonexistent for most startups unless your local community organizations or government agencies offer financial incentives. To help reduce barriers for startups, the U.S. Small Business Administration recently launched its new working capital line of credit to better meet the needs of our small business customers.
The agency’s Working Capital Pilot works through existing SBA 7(a) lenders using an innovative structure to give business owners and lenders more affordable loan options and flexibility. These enhancements include transaction-based loans to help businesses fund individual projects and/or orders earlier in the sales cycle. The pilot also provides asset-based loans to help business owners borrow against existing assets for specific purposes such as exportrelated sales, as well as the Home Energy Rebate program, which was funded by the Inflation Reduction Act. Even with this new pilot program, experienced business owners know they need to set financial goals to keep their company on track. The following are five simple steps entrepreneurs can take to help navigate the lending process.
1. Know your tolerance for financial risk. Starting a new business brings a certain level of inherent risk. There are no guarantees that the business will be successful, or make a profit, in its first few
years of existence. Be prepared for an emotional roller coaster and brace yourself for periods of financial uncertainty. This is especially true if you are using personal savings, a 401(k), or a home equity line of credit to fund your venture. Know your level of risk aversion up front and have a plan to counter possible losses.
2. Get expertise where you can. How much money does it really take to start a business? Unfortunately, most entrepreneurs create revenue projections that are far too optimistic. Many business owners underestimate expenses and establish breakeven timeframes that are too short. Work with an experienced business counselor who can help create revenue projections that are realistic and accurate.
3. Look at nontraditional lenders. Commercial lenders are literally banking on your future success. Most lenders loan money based on factors such as repayment ability, credit history, and borrower experience. Even a compelling business plan may not overcome a borrower’s poor or marginal credit
history. It may take two or three years of actual operations before a new business loan will be based solely on the company’s credit and financial history. However, there are many local organizations such as Community Development Financial Institutions (CDFIs), Microlenders, and Small Business Lending Companies (SBLCs) that have eligibility requirements that are start-up friendly.
4. Learn to read and understanding basic financial statements. The income statement, balance sheet, and cash flow statement each tell a different part of the story about a company’s financial condition. Together, they can be used to discover a business’ weaknesses and strengths. Lenders use ratios derived from various sections of the financial statements to provide clues to where a business owner needs to implement corrective actions before a situation becomes alarming.
5. Cash flow is the life blood of a business. A business can be profitable on paper yet fail from a lack of cash flow. Important aspects of cash flow include the timing of
accounts payable and receivable, inventory turnover, fixed expense loads, and variable costs. Without a solid foundational knowledge of these areas, a business owner is handicapped in terms of managing the company’s overall financial health.
President Biden’s Economic Boom is real and entrepreneurs across the country are starting businesses at record rates, hiring American workers, and making our communities stronger. The time is right to start a new small business, but establishing the right financial expectations can mean the difference between a failed opportunity and a successful lifetime adventure.
Aikta Marcoulier serves as the SBA’s Regional Administrator in Denver. She oversees the agency’s programs and services in Colorado, Montana, Utah, North Dakota, South Dakota and Wyoming.
FOR MORE INFORMATION on starting your small business, please visit: SBA.GOV
Follow us on Twitter (X) @SBArockymtn
In addition, connect with one of our many resource partners in your area who can assist you with free one-on-one technical assistance related to financial planning and projections. Visit www.sba.gov/localassistance to find a center near you.
Special Report
Wildfires’ Economic Toll Tops Billions Annually Making
It “National Emergency”
BY JEANNE DAVANT
Wildfires take a staggeringly large direct toll on local and national economies each year, and the indirect costs add billions more to the total.
A report from the Joint Economic Committee Democratic Majority of the U.S. Congress, released Oct. 16, 2023, estimated that wildfires cost between $394 billion and $894 billion annually. Those figures include estimates of costs related to property damage, deaths and injuries, health impacts from wildfire smoke, income loss and watershed pollution. Economists who derived the figures also included estimates of insurance payouts and premium increases, evacuation costs, wildfire suppression costs, diminished real estate values and tourism loss.
These figures likely underestimate the true total cost of wildfires, the report states. That’s because economists are still trying to quantify the effects of erosion, ecosystem rehabilitation and recovery costs after fires, as well as the costs of abandoning wildland-urban interface areas that become too wildfire-prone for human habitation.
“When I think about some of these buckets, the most visible ones are loss of what we call valued assets,” says Dr. Jude Bayham, associate professor in the Department of Agricultural and Resource Economics at Colorado State University. “This is going to be homes, damage to standing timber that could be valuable if harvested, infrastructure, water supply — things like that. We have the ability to quantify those costs.”
Other costs are more difficult to value, such as the “amenity value” of land — the value people get from the natural environment. Also, some relatively quantifiable costs, such as impacts on damage to agriculture, haven’t been studied much, he says.
“There’s a little bit of research on impacts to wine crops and livestock in Colorado,” Bayham says. “That might be a larger impact moving forward.”
One of the biggest impacts is the loss of tourism, he says.
“If people are discouraged from visiting an area, especially these more tourism-oriented areas, there is lost business revenue and lost tax revenue,” he says. “Visitation to campgrounds falls after wildfires, and on average, it takes about six years to recover to its pre-fire levels.”
In addition, when an area burns, “it changes the value and the market” for homes, Bayham says.
Health impacts of smoke are among the major costs of wildfires, but smoke also has impacts on tourism when there is sustained poor air quality, he says.
Smoke pollution also affects the labor market. According to a 2002 study published by the National Bureau of Economic Research, smoke pollution decreases labor productivity, results in employment reductions and labor force exits and reduces quarterly earnings by 0.1% for each day of exposure.
Wildfires also strongly impact the insurance industry.
“Insurance is an important part of dealing with fire risk in general,” he says, “and the prices are going up dramatically. I think, for a long time, insurers undervalued the risk and now they’re catching up and trying to raise rates quickly.”
Some states have limits on how
fast insurance companies can raise rates, but in places like California, those regulations have caused insurers to withdraw completely from the market, placing the burden on the state government.
California has provided the Fair Access to Insurance Requirements (FAIR) plan, which is subsidizing insurers to issue policies, but costs are very high. The FAIR Plan is a syndicated fire insurance pool established by the California legislature that issues policies on behalf of its members to property owners who are unable to find insurance in the traditional market.
“That is, I think, what states are going to do in the short term,” Bayham says. In the long term, “it will drive people out of those fire-prone areas.”
According to the Rocky Mountain Insurance Information Association, the Marshall Fire, which raged in 24 hours through Superior, Louisville and unincorporated Boulder County on Dec. 30, 2021, killing two people, was the costliest in Colorado’s history. Recovery is still in progress, but preliminary damage estimates to insured property top $2 billion, with 1,089 structures lost and 149 significantly damaged.
The Waldo Canyon Fire in 2012 in Colorado Springs, which burned 346 homes, generated 6,648 insurance
claims, and insurance costs were estimated at $568 million in 2022.
The Black Forest Fire in 2013, in which two people died, also generated an estimated $568 million in insured losses.
Mitigation does help reduce the risk of wildfire, but it is expensive and labor-intensive.
“The question then becomes, how much are we willing to spend to reduce wildfire risk and how do we pay for it. Do we need to raise taxes? Assess fees on rural homeowners? Cut spending on other needs?” Bayham says in an interview with CSU’s Source.
In light of the growing threat of wildfires in the West, the U.S. Forest Service in 2022 developed a 10-year strategic plan to reduce wildfire risk. It calls for cooperation across jurisdictions, identifying and applying science-based forest health treatments, investing in fire-adapted communities and developing needed workforce capacity.
“This is a national emergency, and it calls for decisive action,” the plan states.
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
A U.S. flag hangs in front of a burning structure in Black Forest, CO., June 12, 2013.
Cover of the A 10-Year Implementation Plan by the U.S. Forest Service.
MSgt Christopher DeWitt. Public domain photograph from defenseimagery.mil.
Marigold & Go Opens at Creekwalk Colorado Springs
BY PAM BALES
Creekwalk Colorado Springs continues to deliver on its promise of a new kind of neighborhood shopping center. A centerpiece of the South Nevada Avenue redevelopment efforts, the reclaimed Cheyenne Creek features a renovated landscape with walkable and bikeable path.
The newest addition to Creekwalk, located at South Nevada and East Cheyenne Road, is Marigold & Go, the third restaurant concept of the local owners of Marigold’s Restaurant & Café. Open from 7 am – 2 pm, it offers neighbors a European-style café with coffees, pastries and light breakfast and lunch selections.
The new concept opened in early July. It’s the first time that the group has offered breakfast since 2008. Marigold & Go menu items include breakfast sandwiches, egg bites, and avocado toast along with other
pastries including the immensely popular Cinnamon Twist. The lunch menu includes paninis, croissant sandwiches, salads and local, nonalcoholic beverages.
Marigold Café and Bakery is a family-owned business in Colorado Springs. The original location opened in 1992, and the Nehmes family purchased the restaurant in 2017. They also acquired Walter’s Bistro in 2023, renaming it Marigold Bistro.
Marigold Café & Bakery is a casual and fine dining restaurant mainstay in Colorado Springs located at 4605 Centennial Boulevard. Marigold Bistro is located at 146 E. Cheyenne Mountain Blvd. Both restaurants offer classic seated dining and menus which include steaks and seafood.
Ghassan Nehme, Jr., the general manager, says he is a first-generation American, and having the chance to run a family restaurant is truly the American dream. He says coming from Lebanon, his parents have
never taken for granted their good fortune to live in America. He shares ownership of the restaurants with his father Ghassan Sr., mother Julie, and sister Cailee.
Marigold’s stands out in several areas including their commitment to other local businesses. Their coffee is sourced from Serranos Coffee in Monument, the natural juices they carry are from northern Colorado and their bread is from Debbie’s Bakery in Golden, Colorado. Their desserts, created from scratch recipes, are made fresh every morning, starting at 5 a.m. Finally, service is the hallmark of the family business. Employees are treated like family, and it shows in the service employees give to customers, explains Nehme, Jr.
The quick-service concept of Marigold & Go allows the restaurant’s owners to reach southside customers who have repeatedly expressed interest in having a location closer to their part of town, according to Nehme, Jr.
“We immediately saw our regulars flocking to the new location with a whole new group of customers in the area as well,” he notes. “We’re trying to accommodate local law enforcement, Fort Carson personnel, community members and area workers that want Marigold-style food and service, but at a faster pace.”
Pam Bales is a senior writer for the SoCo Business Forum & Digest.
Photo
Source:
Marigold & Go
Marigold’s Chocolate Raspberry Mousse Cake.
Professionals on the Rise
Celebrating Achievement of So. Colorado’s Workforce!
Colorado Springs Fire Chief Randy Royal has been named the 2024 Career Fire Chief of the Year by the International Association of Fire Chiefs (IAFC). The award was presented on August 14 at the 2024 Fire-Rescue International Conference in Dallas, Texas. This prestigious recognition highlights Chief Royal’s contributions to the fire service on an international level.
With a career spanning over 42 years in emergency services, Chief Royal has been a vital member of the Colorado Springs Fire Department since 1987.
and air service departments. With a background as the chief operating officer at the Colorado Springs Chamber of Commerce and a 24-year career in the Air Force, Lovewell brings a wealth of experience to his new role.
Alex Kovacs has been appointed assistant director of construction and finance at COS. Kovacs, who has extensive experience in aviation management, previously served in various roles at the RenoTahoe Airport Authority, where he oversaw finance, budgeting and risk management. As a certified member of the American Association of Airport Executives, Kovacs will lead the design and construction and finance teams at COS, supporting the airport's continued growth and development.
Ryan Tedder and Zach Filkins of OneRepublic were recently honored with the Mayor’s Spirit of Colorado Springs Award by Mayor Yemi Mobolade during the opening night of Ford Amphitheater. The award recognizes exceptional individuals who have made significant contributions to the community. Tedder and Filkins, who formed OneRepublic in Colorado Springs in 2002, have since achieved global success, with their music reaching audiences worldwide and earning them numerous accolades.
Dena Flanagan, their former high school music teacher, stood beside them at the award ceremony. Mayor Mobolade praised the duo for their dedication to their craft and for their ability to inspire others through their music.
The Colorado Springs Airport (COS) has expanded its leadership team with the recent appointments of Jim Lovewell and Alex Kovacs. Lovewell has been named assistant director of airline affairs, marketing and communications, where he will oversee the marketing, communications,
The Colorado Springs Chamber & Economic Development Corporation (Chamber & EDC) honored We Fortify and Ent Credit Union with the 2024 Business Awards during its Annual Gala on Saturday, July 27. We Fortify received the Community Investment of the Year Award for its impactful programs like Elevate Villages, which provide tiny houses and support services for young people, and Noble Villages, offering affordable housing for essential workers. Ent Credit Union was recognized as Company of the Year for its longstanding commitment to Colorado Springs, including its significant contributions to youth and mental health initiatives.
Randy Royal
Jim Lovewell
Alex Kovacs
Zach Filkins (left) and Ryan Tedder (right).
Photo Source:
Summation Wealth Group, a prominent wealth management firm with Northwestern Mutual, has appointed of Lauren Theken as its newest partner. In her role as a private wealth advisor, Theken will continue her commitment to helping families secure their financial futures.
Lauren Theken joined Summation Wealth Group in 2010 and has since become the first female certified financial planner in the Northwestern Mutual Colorado Springs Network Office. Her appointment as partner marks a significant milestone in her career.
The Colorado Springs Black Chamber of Commerce is pleased to announce the appointment of its newest directors, Donald Deas, Rodney Scott, Jesse Bullock and Felicia Embry. These accomplished professionals bring a wealth of experience and leadership to the organization, enhancing its mission to support and empower black businesses in the community.
In addition to these new directors, the chamber has also appointed several members to lead its key committees. Rodney Scott will chair communications and public relations, Donald Deas will head programming and Jesse Bullock will lead workforce development. These appointments are set to strengthen the chamber's efforts in promoting business growth and development across Colorado Springs.
The Woodland Park Plein Air event recently concluded with a successful showcase of talent from artists across the region and beyond. Jared Brady took home the Best of Show award for his oil painting, “Forest Light,” while Scott Yeager and Julie Cutting secured first place in the professional and advanced artist levels, respectively. Amanda Dodson won the emerging artist level with her piece, “Creek at GMF.” The event was supported by both local and national sponsors and highlighted the artistic spirit thriving in Woodland Park.
Marla Novac has recently been appointed as the chief executive officer for the Housing & Building Association of Colorado Springs Novack previously served as the vice president of government affairs for the HBA since 2020, where she played a key role in advancing the association's mission and objectives.
Renee Zentz has transitioned to a fulltime role as the president of Careers in Construction Colorado after nearly 22 years as the CEO of the HBA of Colorado Springs. Zentz’s leadership and dedication have significantly impacted the organization, and she now brings her expertise to furthering careers in the construction industry.
Lauren Theken
Marla Novac
Renee Zentz
Rodney Scott
Felicia Embry
Donald Deas
Jesse Bullock
Photo Courtesy of Gayle Gross
Top Row: Gayle Gross handing out prizes to Jared Brady. Bottom Row: Scott Yeager, Julie Cutting and Amanda Dodson.
Building the Future: Colorado Springs Utilities’ Five-Year Plan
BY COLORADO SPRINGS UTILITIES
Colorado Springs Utilities is commemorating 100 years of service this year, while also facing a new era of historic demands and changes across the utility industry.
The municipal utility has built and maintained about $5 billion in system assets over the last century. In the next five years, that will nearly double, as they expect to add another $3.7 billion in additions and improvements.
Major drivers for these capital investments include state and federal regulations, particularly in the energy sector. With coalfired plants no longer sustainable under Colorado’s regulatory environment, the organization is making investments in renewables and its natural gas system. Diversifying the energy mix enables Springs Utilities to meet carbon emissions reduction targets of 80% by 2030.
The renewable energy resources are typically located further away, outside of the Colorado Springs city limits, making additional investments in transmission lines and substations critical and necessary.
Meanwhile, as the city expands on the east side, a major project soon underway will provide a critical wastewater “backbone” that is needed to serve customers in the area with the heaviest growth.
Major water projects will continue outside the city’s boundaries to acquire and store the amount of water required to meet the city’s needs. Most of the new water supplies come from a watersharing program in the Lower Arkansas River Valley. A project to enlarge Montgomery Reservoir in Park County will allow Springs Utilities to store enough water to serve about 14,000 single-family residences annually.
As a municipal utility, Springs Utilities funds major investments through bonds and from revenue collected from customer rates. Rates are based on the cost of providing service; there is no builtin profit.
Springs Utilities will propose a five-year rate case to City Council this fall. It includes rate increases across the company’s four services to support the budget and fund these and other significant system investments.
Springs Utilities will continue major water projects outside the city’s boundaries to acquire and store the amount of water required to meet the city’s needs.
This includes base rate increases each year from 2025 to 2029 of 6.5% for water and electric, 4% for natural gas and 9% for wastewater.
The estimated impact in 2025 for a four-service sample commercial bill is $83 a month and $1,728 a month for commercial customers. The typical residential sample bill would increase about $14 a month.
The first hearing for the rate case is scheduled for Oct. 22, with a final vote scheduled for Nov. 12. If approved, the new rates would be effective beginning Jan. 1, 2025.
THERE FOR PRACTICALLY EVERY “EUREKA” MOMENT FOR THE PA ST 100 YEARS.
When you’ve been around for 100 years, you’ve been around for a lot of “eureka!” moments, countless “aha!” moments, and more revelations and realizations than you can remember. From the joyous celebrations to the quiet reflections, we’ve illuminated the path every step of the way. Our commitment extends beyond merely providing electricity; it’s about being there for the milestones, the challenges and the everyday triumphs that make up a century of shared experiences. That’s a Century of Service. And that’s worth celebrating.
Advanced Manufacturing The Empirical Method for Success
BY LUCY RICHARDSON
Empirical Technologies, a Colorado Springs-based organization founded in 1998, provides testing services, regulatory consulting, precision manufacturing and quality assurance of medical devices to a global market.
The organization advertises over a century of combined expertise in the medical device consulting industry, specifically relating to dental, orthopedic, spinal and prosthetic devices. Their labs provide an extensive and exhaustive course of testing, exploring 17 different aspects of medical devices to ensure reliability and conformity to all industry standards.
Three main regulatory standards exist in this industry: FDA/510(k), the American Society for Testing and Materials (ASTM) and the International Organization for Standardization (ISO). FDA/510(k) testing determines if devices meet the sufficiently equivalent standards of similar devices already on the market. The ASTM sets quality standards for manufacturers to mitigate bias and/or skewed data, and the ISO ensures adherence to global environmental, health, safety and security standards by holding governing bodies accountable for monitoring and maintaining development processes.
Photos Source: Empirical Technologies
Advanced Manufacturing
Dawn Avens Lissy, Empirical Technologies Founder & President
“I pride myself on — before ‘Me Too’ was even a thing — that I created an environment to foster the best people for the job, and more times than not, those were women in our industry. We have historically been an at least 50% women-employed company.”
Empirical adheres to all of these standards with a scope of accreditation that is over five pages long, making them a global leader in their industry.
Dawn Avens Lissy, founder and president of Empirical, is a biomedical engineer and entrepreneur. She started her career with Acromed Corporation in Cleveland, Ohio. in the Trauma/Tumor Business Unit, focusing on product development, management and design improvement for spinal devices. She was also a member of the FDA’s Entrepreneur-inResidence program from 2012 to 2013 where she focused in streamlining clinical trials in Class III devices. Her experience revealed a hole in the industry, as there was no organization with comprehensive knowledge of orthopedic implant manufacturing, FDA development standards and product development timelines.
“So I wrote a business plan,” Lissy says. “Probably the hardest conversation I ever had was trying to explain to a banker that a quartermillion dollar piece of equipment that doesn’t actually make anything, but breaks stuff, would be a viable business plan.”
The business started in a makeshift home office in Lissy’s basement, and has since grown to hold the widest scope of testing standards available in the U.S., with over 30 test frames, and hundreds of companies employing their services.
Their testing includes head-to-
toe medical implants, including chest plates, spine implants, hip implants and even toe implants, but does not extend to cardiovascular devices. In 2009, they expanded from device design to include regulatory and quality system validation services, offering complete development solutions to their clients. This past year, they also expanded to offer packaging testing to ensure the device can travel to clients without air leaks, drop damage or other transit-induced quality deficits.
When in the testing phase, machine-generated simulations allow Empirical lab technicians to reveal any weaknesses or deficiencies in a medical device. Some of these tests explore the device’s ability to resist tensile and torsion forces, maintain its integrity over time and provide consistent performance across production batches. Empirical also offers non-standard/custom testing for unique device features.
The Empirical website notes three factors allowing them to offer the best services possible: efficient and purposeful tests, unbiased expertise and transparency for all data and processes. These factors allow them to complete all aspects of testing and regulation 20-30% faster than the industry average.
Efficient, by-the-book testing is a cornerstone for Empirical, but Lissy notes that creating ways to test emerging devices that don’t have developed industry standards is a
huge part of their operations.
“The reality is that a lot of our clients are guys with an idea and a business card,” Lissy says. “We spend a lot of our time helping them figure out the correct regulatory path, the correct testing.”
They are leaders in innovation and top-ranked among industry competitors for their 510(k) submission rate. Lissy attributes this success to their emphasis on expanding education through relationships with other industry professionals. Empirical has hosted eight experiential learning programs for the FDA, which provides trainings for industry partners on emerging ideas and practices resulting from their testing and design innovations.
Their broad range of expertise allows them to be on the forefront of ideas and questions pertaining to many different types of devices.
“That’s a much different philosophy and approach than, say, a larger company that does one submission at a time,” Lissy notes. “They’re just going to find out about that one, and they’re not going to have experience or exposure for multiple kinds of devices and the questions that the FDA or other regulatory agencies outside the U.S. might be asking.”
In 2022, Applied Technical Services (ATS) acquired Empirical Technologies to expand their failure analysis, calibration and materials testing into the medical sphere. This acquisition has allowed Empirical to expand their
testing with the help of established ATS facilities.
In growing her company, Lissy has maintained an environment to foster employee wellbeing. The acquisition allowed her employees to connect with other companies under the ATS family, promoting clear paths for career growth beyond the testing realm. She expresses genuine care for her team, and emphasizes a passion for inclusion.
“I pride myself on — before ‘Me Too’ was even a thing — that I created an environment to foster the best people for the job, and more times than not, those were women in our industry,” she reflects. “We have historically been an at least 50% women-employed company.”
Lucy Richardson is a staff writer for the SoCo Business Forum & Digest.
FOR MORE INFORMATION about Empirical Technologies, visit their website at:
Arts Economy COPPR Launches PeakArtsEd Hub for Regional Arts Education
On Aug. 14, the Cultural Office of the Pikes Peak Region (COPPR) launched PeaksArtsEd, a new “one-stop shop” for local arts education experiences, built inside of PeakRadar. com, their popular arts and entertainment website.
Developed with community feedback, PeakArtsEd is a centralized tool to make arts education offerings from local artists and organizations more accessible. School educators and community members can explore and book local creative classes, educational programs, field trips, camps and more with a variety of local arts organizations.
Over 40 diverse community members gathered for the project’s unveiling, which featured live performances from the Colorado Springs Youth Symphony and the Colorado Springs Conservatory.
“Frequently people don’t know where to look for arts education programs for themselves or their children,” says Melissa O’Rear, COPPR’s program manager of education. “Schools often struggle to develop diverse partnerships with arts organizations – meanwhile, artists tell us, ‘We can’t get in the door!’ PeakArtsEd bridges that gap, breaking down barriers and creating more access to arts education offerings for everyone.”
Community members can find classes and camps in theatre, music, dance, film and more. Educators can explore options for field trips, school programs, or artist residencies for the classroom – and all meet academic standards.
Programs serve youth to seniors, creatives with disabilities, military members, and more. Drop-down menus help users explore by date, art form, population served and even cultural origin.
Arts organizations can promote their classes and programs at PeakArtsEd year-round, for free, by logging in to PeakRadar.com.
“PeakArtsEd is a game changer for our community, providing arts programs in an accessible one-stop shop,” says Marcia Hendricks, executive director of The Colorado Springs Children’s Chorale. “This tool will benefit arts educators and arts organizations alike, broadening program access for students throughout the Pikes Peak region.”
PeakArtsEd achieves a goal called for in the Arts Vision 2030 ten-year cultural plan. Nineteen local organizations have already listed their offerings at PeakRadar.com/ArtsEd.
Arts Economy
“This is our largest expansion of PeakRadar.com, our flagship program, in years,” says Angela Seals, executive director of COPPR. “This powerful website continues to connect our community to arts, culture and entertainment, increasing access, stimulating our creative economy, and boosting participation in the arts – now in new ways.”
Economic Forum
Pikes Peak Region Economy Sees Impact of High Interest Rates
BY DR. BILL CRAIGHEAD
Higher interest rates over the past couple of years have had a significant impact on the economy of the Pikes Peak Region. Recent declines in mortgage rates may provide some relief.
As an area experiencing rapid population growth, and also one that has a higher degree of population turnover than most places, construction and real estate play outsized roles in the local economy. According to the Bureau of Economic Analysis, construction accounts for 6.8% of the GDP of the Colorado Springs Metropolitan Statistical Area (El Paso and Teller Counties), compared with 4.2% for the US overall. The Bureau of Labor Statistics reports that real estate agents account for four of every 1000 jobs in the area, which is more than triple the national proportion. Construction and real estate activity are both highly sensitive to interest rates.
Higher interest rates have contributed to a dramatic decline in home sales in the region –fewer than 12,000 homes were sold in 2023, after more than 18,000 sales in 2021. This has been exacerbated by the fact that high rates followed a period of dramatically lower rates which allowed homeowners to lock in low-rate mortgages –the average rate on an outstanding mortgage in Colorado bottomed out at 3.5% in late 2021 and the first half of 2022. Recent numbers from the Pikes Peak Association of Realtors® suggest sellers have been returning to the market – the number of active listings is up considerably over last year – but sales continue to be slow.
A slow pace of home sales not only affects the incomes of real estate agents, it also impacts other economic activity, including sales of goods and services associated with moving into a new home. Colorado Springs city sales tax collections
were flat in 2023 – one of the factors that pulled them down was a 7.4% drop in revenue from sales of furniture, appliances and electronics. Although the city’s overall sales tax revenue is looking a little healthier so far in 2024, this category has continued to decline.
After a surge in 2021 and 2022, the number of dwelling units permitted by the Pikes Peak Regional Building Department declined by more than 40% in 2023. So far in 2024, multi-family permits have continued to decline, while singlefamily permits have rebounded somewhat. Local construction payrolls have shown year-on-year declines for 22 consecutive months through July 2024 (the Bureau of Labor Statistics reports “Construction, Mining and Logging” as a category, which is mainly construction for this region).
Fortunately, recent national data have provided the Fed with reassurance that its battle with inflation is (nearly) won. The Fed’s policies most directly impact short-term interest rates, but long-term rates, like 30-year mortgage rates, are influenced by expectations of future shortterm rates. With financial markets anticipating that the Fed will be able to cut soon, mortgage rates have moved down. This may give a boost to the region’s beleaguered real estate and construction sectors.
Dr. Bill Craighead is the Director of the UCCS Economic Forum.
Registration is open for the 28th Annual UCCS Economic Forum, which will be held at the Ent Center for the Arts on September 26th. This year’s event will include a presentation by Colorado State Demographer Elizabeth Garner and panel discussions on “The Future of Downtowns and Commercial Real Estate” and “Small Business in the Pikes Peak Region.” Doors will open at noon with a welcome reception from noon to 1 pm, when the event program will start. The program concludes at 4 pm, followed by a happy hour. We hope to see you there! Tickets are $65 and a link to the registration can be found on the Economic Forum webpage, business.uccs.edu/economic-forum.
The Strength of Business Acquisitions
BY TERRI HAYES
In the quest for growth, small business owners and entrepreneurs often focus on organic strategies like marketing, sales and product development. There’s another powerful strategy that can catapult your business to the next level — acquisitions.
Acquiring another business may seem daunting, but it offers compelling benefits. It provides immediate access to new markets and customers, allowing you to inherit an entire customer base overnight. Additionally, acquisitions can diversify your product or service offerings, enhancing resilience against market fluctuations. They can also eliminate competitors, increasing your market share. To identify potential targets, look for businesses that complement your operations, as a coffee shop complements a bakery. Use industry reports and networking to find opportunities that add value to your business.
Identifying a potential acquisition target requires evaluating its value beyond financial statements. A comprehensive due diligence process examining assets, liabilities, customer base and market position is crucial. Consider a professional valuation for an accurate business worth. Financing challenges include options like bank loans, seller financing and private investors, with SBA loans as a possibility for small businesses. Choosing the right financing option is essential for alignment with financial and growth goals.
The legal aspects of business acquisition can be complex. Key considerations include negotiating the purchase agreement and transferring licenses and permits. Hiring an attorney with experience in business acquisitions can help you address these legalities effectively, ultimately preventing future disputes and ensuring a smooth transition.
A detailed transition plan is essential for integrating the acquired business into your operations. Focus on key areas such as staffing, technology integration and customer
communication. The aim is to create a seamless experience for employees and customers — vital for maintaining morale and loyalty.
Communicating With Customers
Transparent communication with customers during the acquisition process is crucial. Inform your existing customers about the acquisition and its implications for them. Additionally, reach out to customers of the acquired business to reassure them of continuity and highlight any expected improvements. Maintaining trust and loyalty during transitions is essential.
Leveraging New Market Opportunities
Acquiring another business provides access to new markets that can significantly boost revenue. Utilize this opportunity to crosssell products or services to the new customer base. Conducting thorough market research can help you
understand the needs of these new customers, allowing you to tailor your offerings effectively.
Enhancing Operational Efficiency
Acquisitions can lead to increased operational efficiency. By integrating resources, you can achieve economies of scale that lower costs and enhance profitability. Evaluate supply chain management, marketing and administrative functions for potential integration to streamline processes and realize cost savings.
Managing Cultural Differences
Integrating an acquired business necessitates managing cultural differences. The culture of an organization significantly influences employee satisfaction and productivity. Take time to understand the culture of both organizations and work towards harmonizing them. Team-building activities and open dialogue can facilitate a unified corporate culture.
Monitoring & Measuring Success
To assess the success of the acquisition, establish clear objectives and track your progress through key performance indicators (KPIs) such as revenue growth and customer retention. Regularly reviewing these metrics ensures that the acquisition meets its expected benefits, allowing you to make adjustments as necessary.
The Takeaway
Acquisitions can serve as a powerful growth strategy for small businesses. By carefully identifying potential targets, evaluating their value, securing appropriate financing and effectively integrating the new business, you can enhance growth and competitiveness. Whether you aim to expand market reach, diversify offerings or eliminate competition, acquisitions present the opportunity needed for greater success.
Terri Hayes is the President and CEO of The TriLakes Chamber of Commerce & EDC. It is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike.
Space Foundation’s
Latest Report Reveals 2024 Precedent
BY EMILIE HAGOPIAN
The Space Foundation’s latest report reveals a recordbreaking pace for rocket launches in the first half of 2024, alongside NASA’s strategic moves to prioritize the Artemis lunar program, satellite technologies, and environmentally friendly rocket fuels. Founded in 1983, the Space Foundation is a nonprofit organization and a key player in the global space industry. The foundation’s quarterly Space Reports offer comprehensive data and expert insights on the commercial, civil, and defense sectors of the space industry.
Record-Breaking Launch Activity
The first half of 2024 set a new precedent with 126 launch attempts, surpassing 2023’s record by 30%. This translates to a launch every 34 hours, the busiest period in the history of space exploration. A majority of these launches supported the expansion of communications satellite constellations in low Earth orbit. Notably, the period saw the debut of critical launch vehicles like the United Launch Alliance’s Vulcan and Mitsubishi’s H3, which are set to become key assets for U.S. and Japanese national security missions. Additionally, France’s Ariane 6 completed its successful inaugural flight in early July, just missing the first half of the year.
NASA’s Strategic Shifts Amidst Budget Constraints
Despite the surge in commercial activity, NASA faces significant challenges under a constrained $25.4 billion budget set by the Fiscal Responsibility Act of 2023. In early 2024, NASA made the difficult decision
to cut 1,000 jobs and reduce science program funding to prioritize the Artemis program’s 2026 lunar landing. The report details NASA’s progress on the Artemis program, highlighting ongoing efforts to develop the necessary program elements for a sustainable return to the Moon.
The competition among American companies to design lunar terrain vehicles for NASA underscores a broader industry effort to establish a permanent presence and economy on the Moon. This competition is crucial as it aligns with the Artemis program’s long-term goals.
Greener Rocket Fuels
With the increasing number of launches, environmental concerns about rocket emissions have surfaced. The report notes that space agencies and private companies are exploring the development of greener rocket fuels, ranging from innovative biofuels to cleaner production methods for traditional propellants. While the rocket launch industry contributes only a small fraction of global carbon emissions, the push for more sustainable practices reflects a broader commitment to reducing the environmental impact of space exploration.
However, the transition to greener fuels is not without its challenges. One hurdle is the cost of refining new fuels to make them competitive with existing options. Despite these challenges, the industry’s focus on sustainability marks a critical shift towards more responsible space exploration.
Advancements in Satellite Technology
On the civil space front, the National Oceanic and Atmospheric Administration (NOAA) successfully launched its fourth and final satellite
in its latest weather constellation, GOES-19. This satellite is equipped with advanced technology, including NOAA’s first compact coronagraph for monitoring solar activity. The addition of GOES-19 is expected to enhance the accuracy and reliability of weather forecasting.
The Commercial Space Industry’s Growing Role
The commercial space industry continues to gain momentum, bolstered by new initiatives from the U.S. Space Force. Announced at the 39th Space Symposium in April, the U.S. Space Force plans to leverage commercial space innovations for defense purposes, including the creation of commercial reserve
satellites for wartime use. This move signals a closer partnership between the military and commercial space sectors, which will likely drive further innovation and growth.
FOR MORE DETAILED insights and data, visit: THESPACEREPORT.ORG
Emilie Hagopian is a staff writer for the SoCo Business Forum & Digest.
The first half of 2024 set a new precedent with 126 launch attempts, surpassing 2023’s record by 30%. This translates to a launch every 34 hours, the busiest period in the history of space exploration.
Photo Source: Space Foundation
Groundbreaking Set to Launch Colorado Quantum Epicenter Technology
BY JEANNE DAVANT
Elevate Quantum, a consortium that is spearheading the development of quantum computing in Colorado, will break ground in September on Quantum Commons, a 70-acre campus in Arvada that will be the global heart of the quantum industry.
“The goal is to have it become the Stanford Research Park for quantum,” says Corban Tillerman-Dick, CEO of Denver-based Maybell Quantum Industries and chair of Elevate Quantum. “We’ll have, hopefully, dozens of quantum companies headquartered there, building quantum devices there, creating the quantum future there, and creating tens of thousands of jobs.”
The site, formerly owned by oil shale developer Tosco Corp., will house the activities of the Mountain West Tech Hub, which was designated as one of 31 tech hubs across the United States in October 2023 by the Federal Economic Development Administration. Elevate Quantum led the efforts to win the designation and to compete for Phase 2 EDA grant funding.
Gov. Jared Polis announced July 1 that the Mountain West tech hub had won out over Illinois’ Block Tech Hub for Phase 2 funding. Elevate Quantum, an amalgam of more than 70 public and private organizations, academic institutions and nonprofits in Colorado, New Mexico and Wyoming, put together the winning plan.
The Phase 2 funding consists of a $40 million federal grant. The consortium also will draw upon $44 million in refundable state tax credits to help fund the shared research facility and $30 million for a loan loss reserve to create greater access to capital for small and medium Colorado quantum companies. Earlier this year, the state legislature approved those funds, contingent upon winning the federal funding.
The state will purchase the Arvada site through the Colorado School
of Mines and give it to the quantum ecosystem, Tillerman-Dick says. It will be managed by Elevate Quantum, the School of Mines, the University of Colorado Boulder and Colorado State University.
One of the first projects will be retrofitting an existing 20,000-square-foot laboratory on the site and converting it into a worldclass quantum lab.
“It is going to include cryogenic capabilities as well as atomic molecular and optical physics capabilities,” Tillerman-Dick says. “It’s going to be the only open-access user facility in the world that has both of those at scale in one place. And that’s going to be a unique draw for folks doing quantum work from around the world to come here.”
The site also will house a new fabrication facility for photonic integrated circuits, which can shrink optical setups as large as a basketball court to the size of a thumbnail, he says.
“Being able to do that is essential to the future of the quantum industry, and we’ll be able to do that in a unique way globally,” he explains.
Initial activities include ramping up workforce development and educational access.
“We will be doing those three
things from Day 1, when the campus turns on,” Tillerman-Dick says. “But that’s only the beginning.”
Elevate Quantum’s 10-year plan calls for attracting more than $2 billion in quantum startup funding, launching 50 quantum startups, training more than 30,000 workers in quantum technology and adding more than 10,000 new jobs with salaries averaging $125,000. Job opportunities will be created across skill levels — from welders, machinists and technicians to Ph.D. scientists, and the benefits of the centralized quantum hub will radiate across the state, Tillerman-Dick says.
“With the leadership in the Pikes Peak region around national security and defense, those are the most critical early customers for this type of research,” he says. “The Space Force, the Air Force, the Air Force Academy — they are already involved in what we’re doing, and that’s only going to accelerate as we grow.”
Quantum technology promises to reinvent computing. Quantum computers will be millions of times faster than current computers and, in seconds, perform calculations that exceed the capabilities of today’s most powerful supercomputers, revolutionizing development and
innovation in industries from healthcare and agriculture to cybersecurity and defense.
According to the Colorado Department of Economic Development and International Trade, establishing Colorado as the global epicenter of quantum computing will create more than $1 billion in statewide economic impact.
The impact of Elevate Quantum’s success has already begun, TillermanDick says. His own company, Maybell, has doubled its headcount since January, and other existing companies also are growing.
“We plan to open the quantum campus to first users within the next year,” he says. “Then over the next five years, we expect tens of thousands of jobs to be created by the quantum industry as a direct result of the EDA funding and the funding from the state.”
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
Image Source: Colorado Office of Economic Development & International Trade
Cybersecurity Space Assets Coalition Projects Prepare for Launch
BY JEANNE DAVANT
Acybersecurity gaming lab on Catalyst Campus will unite college students across campuses to work on national security initiatives. A boot camp will help small business startups accelerate their technology and gain exposure to the space/defense ecosystem. Data Mine of the Rockies will pair teams of students with corporate and government sponsors to solve problems using data science.
These projects are being developed through a $725,000 state grant won by Colorado Springs-based Securing Space Assets Coalition, a collaboration of nonprofits with space missions.
“These programs will connect our future workforce to aerospace and cybersecurity companies solving real-world problems to protect our space assets,” says Colorado Springs Chamber & EDC President & CEO Johnna Reeder Kleymeyer.
Catalyst Campus will host gaming events, exposing students to career paths and job opportunities they might not otherwise experience, says Dawn Conley, Catalyst Campus senior executive director.
“Gaming is an important and popular way for kids to problem solve, as well as create a network and a community,” Conley says. “We wanted to use that type of a platform to be able to say, ‘Here’s some new and
creative ways that you could apply your thinking to some of the problems of the DoD, and by the way, there’s a lot of opportunities for career path development and different things that you could do, if you like gaming.”
Plans are being finalized, but gaming events likely will be conducted at least once per quarter, with about 50 to 100 people at each event, she says. Some will be held on participating college campuses, and one of the primary aims of the program is to include students from rural communities.
Catalyst Campus will also run a Small Business Technology Transfer/ Small Business Innovation Research (STTR/SBIR) acceleration lab. The lab will help Colorado-based small businesses advance their technology and get exposure to government, industry and academic partners, Conley says. It will run as a boot camp model on the campus.
“Having these labs and this type of technology will really help boost our local economy,” Conley says. “It’s something that I think will be advantageous for the aerospace and defense community.”
The Data Mine project seeks to replicate a successful program started six years ago at Purdue University, says Dan Hirleman, professor of mechanical engineering at Purdue and regional director of Data Mine of the Rockies. It will expose teams
of students to the kinds of problems they might encounter on the job.
For example, a large language model machine learning project for Lockheed Martin was presented to Purdue Data Mine students last year.
“Lockheed generates cyber threat reports by hand by reviewing a variety of sources,” Hirleman says.
“The question they posed to the Data Mine team, which had cadets, UCCS and Purdue students, was, ‘Can you automate this process of generating these cyber threat reports?’”
During Data Mine of the Rockies’ inaugural session this fall, Lockheed, L3Harris, the U.S. Air Force’s Pacific Air Forces Command and Space Operations Command, the U.S. Space Force’s Space Domain Awareness Tools, Applications and Process (TAP) Lab and the Space Information Sharing and Analysis Center will present projects, Hirleman says. He anticipates that 50 or more Colorado students will participate.
“I am confident we will have students involved from Colorado Mesa University, Fort College, Metro State University of Denver, the University of Colorado Boulder, UCCS, and the U.S. Air Force Academy,” he says.
Space ISAC Executive Director Erin Miller says the project is piggybacking on “the concerted effort that UCCS has made to bring cybersecurity into different disciplines.”
“We’re ensuring that programs like
Data Mine carry out that vision and allow students to become trained as data scientists,” Miller says.
“We look to bring in a broader set of students — a strong emphasis is on minority serving institutions that may also be based in a rural community,” Miller continues. “This is a program that runs virtually, and they can access it from wherever they are.”
Securing Space Assets Coalition was formed to apply for federal tech hub designation through the CHIPS and Science Act, Conley says. Although that application was not successful (Colorado’s Elevate Quantum Tech Hub did win a designation), the coalition successfully applied when Colorado created a tech hub program through the Office of Economic Development and International Trade. Two other tech hubs also won state tech hub designations and funding — the Denver-based Colorado CleanRange Coalition to support clean energy technologies and the Grand Junctionbased Resilient & Adaptive Cyber Protection of Industrial Control Devices & Systems (RAPIDS) to enhance cybersecurity for critical environmental and national security infrastructure, starting with the Colorado River.
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
Photo Source: Catalyst Campus
Read
Flipping the Script on Workplace Challenges Must
It’s not Business It’s Personal Improving Workplace Productivity Through Communication, Connection and Contribution
by Charmas B. Lee & Janice K. Lee
It is no secret that our world is going through a turbulent time of change. Old leadership styles are no longer viable solutions yet there must be a sense of greater expectations. It’s not Business It’s Personal takes decades of experience and provides a concise, insightful exploration into the current landscape of our world. It focuses particularly on the challenges faced in the workforce and the necessary shifts in leadership paradigms. It’s not Business It’s Personal addresses the pervasive issues of burnout, apathy and a diminishing work ethic, and offers a roadmap for personal and professional growth, emphasizing the critical role of leadership in shaping a brighter future.
Excerpts from Dr. Shuler’s Foreword
“Charmas and Janice Lee have written It’s Not Business, It’s Personal: Improving business blueprint for success in corporate America. The genius is found in its countercultural approach to business, in which so many have echoed, ‘It’s just business, nothing personal.’ Possibly, one of the greatest gifts of this book is to guide us as individuals and leaders through an assessment to evaluate whether those in leadership or direct reports are in stress and burnout and how to restore emotional balance.”
Workforce
Out of the Classroom, into the Workplace
BY JEANNE DAVANT
There was a time when kids who went as far as high school were likely going on to college. Those who went to work on the family farm or feed store probably dropped out of school by eighth grade.
“We’re still living in an agrarian model that hasn’t been serving society well for a generation and a half,” says Colorado Springs School District 11 Superintendent Michael Gaal. It’s a model that has been slow to evolve.
Gaal cites the fact that when he graduated from high school in 1985 in New Jersey, he was required to have taken two years of a foreign language.
“In the state of Colorado, we have zero years of foreign language requirement. So how is it, in the global environment of 2024, kids are required less foreign language skills than they were in 1985?” he asks.
In the past few years, local educational institutions have focused increasingly on programming to meet changing workforce needs, as well as the needs and interests of this generation of students and preparing them for their roles as global citizens. They are finding new sources of support and forging partnerships with businesses and other organizations.
In systems like District 11, educators are partnering with the city, businesses, health are and higher education to provide real-world experiences outside the classroom that not only develop on-the-job skills, but reinforce academic work.
Last year, Coronado High School built a double-wide home that was sold to Habitat for Humanity.
“If you can hang a door or window, I promise you, you understand a 3-4-5 right triangle,” Gaal says.
In Academy School District 20, career education begins in the middle schools, where the district is creating more technical education options, Supt. Jinger Haberer says, and opening up pathways to careers.
The district is partnering with businesses to create career academies in the high schools, such as Air Academy High School’s
aviation program, Discovery Canyon High School’s biomedical sciences curriculum and Pine Creek High School’s exercise science track. Students in those programs will take a prescribed pattern of courses and graduate with a well-thought-out career plan.
District 20 also is creating what it calls a “Portrait of a Graduate,” which will cut across all grades and curricula to look at what a student needs to be successful in the workplace and in life. This includes employable skills such as communication, teamwork, decision-making, problem-solving and accountability.
“This year, we’re creating success criteria for that, and it interconnects with our individual career and academic plan system,” says Dr. Jamon Peariso, D20’s director for college and career services.
In Harrison School District 2, students also are exposed to careers through job shadowing and paid apprenticeships, and course work is being built around career tracks.
“We are revamping the whole high school experience,” Supt. Dr. Wendy Birhanzel says. “If I’m going to be a STEM math person, I’ll take a different math than if I’m going to do math as a construction worker.”
District 2 has based much of its planning on student input. At the request of students, the district is adding a course called “Adulting.”
“Kids came to us and said, ‘Hey, we don’t know how to balance a
checkbook, we don’t know how to do taxes, we don’t know how to do a resume.’ And so, we’re implementing that into a course,” Birhanzel says.
The D2 Promise Program has increased the number of students who go on to higher education by 200%, she says. That program offers full scholarships to qualified students who attend Pikes Peak State College, where they can prepare for careers from culinary science or auto mechanics to healthcare or cybersecurity. District 11 now offers a similar program. Pikes Peak State College also works with local school districts on concurrent enrollment, allowing high school students to take and get credit for college-level classes.
Colorado College, too, is targeting programs that provide direct workplace experience.
The college’s Career Center offers micro-opportunities — short-term
assignments in which students work with an individual or company for four to eight weeks, says Interim President Manya Whitaker.
At UCCS, the College of Business and Administration is building industry-related credentials and certifications into coursework, Dean Dr. Thomas Aicher says. Throughout the university, “we have a lot of internships, work-based programs and apprenticeships, where students can have real-world, practical experiences in the industries that they’re studying,” Provost Lynn Vidler says.
“Our faculty and staff are working very hard to make sure that we are helping to prepare students not just for their first job, but for a lifelong career,” Vidler says.
Jeanne Davant is a senior writer for the SoCo Business Forum & Digest.
Michael Gaal, Colorado Springs School District 11 Superintendent
In systems like District 11, educators are partnering with the city, businesses, health care and higher education to provide real-world experiences outside the classroom that not only develop on-the-job skills, but reinforce academic work.
Workforce
El Paso County is a Childcare Desert
Addressing the Early Childhood Education Workforce Gap
Benefits Families, Employers and the Economy
BY KERI KAHN
El Paso County is home to nearly 47,000 children under the age of five. It’s the largest population of children in that age group in the entire state of Colorado. However, at last count, there are only 17,452 childcare spots for these children.
Local nonprofit Joint Initiatives, which exists to solve social problems for families with limited access to thrive, estimates 16,935 more spots must be created just to meet the current need.
Additional spots would be filled by the 70% of local families who would utilize early childhood education, if it were available. These are singleparent households who must work, and two-income households currently forced to choose between generating adequate income or providing quality care for their children.
Early childhood education is in crisis across the nation, and Colorado Springs has certainly not escaped the glaring shortage of childcare spots which negatively impacts families, employers and the economy.
Choices Limited for Working Parents
Kelsey Danekas is mother to oneyear-old Cash. She and her husband added Cash’s name to a daycare waiting list four months before he was even born, but he was still five months old before a spot opened. Neither Danekas nor her husband (a Department of Defense contractor) had the flexibility to work from home.
The lack of childcare options forced Danekas to leave her job in search of a more family-friendly employer.
Being a stay-at-home mom, she says, was not an option.
“It wouldn’t have worked out financially, where we’re at right now,” she says. “It was kind of like worstcase scenario. But, thankfully, I didn’t have to jump to that conclusion.”
Danekas found employment with a local nonprofit which offers greater flexibility. This flexibility is even more of a benefit than she expected, as Cash is without daycare again due to a worker shortage at the first center presented the young parents with a situation they were not comfortable with.
The family found themselves back on a waiting list, this time for eight months.
The Danekas’ story is not unique. What is unique is the flexibility afforded them with her present day job – not every job-seeking parent is granted that opportunity.
Big Loss for Employers
A two-income household has significantly more spending power than a one-income household, but it’s not just the economy which would fare better with adequate childcare.
“On the flip side of that is the employer outlook, which includes what their hiring pool looks like,”
Joint Initiatives President & CEO SherryLynn Boyles said recently on Business Digest Radio. “If you have half the childcare spots you need, you’re going to start seeing that in your hiring pool.”
A parent’s ability to arrive at work
on time, be productive and maintain a clear focus on the job at hand is also directly impacted by childcare options.
“We just saw a study that showed about 20% of families report that they lost a job because of their childcare challenges. A lot of times, they’re losing the childcare they have and there are not second choices. You can’t just call up a childcare center nearby and get your child in.”
Some employers have created their own childcare centers, provided the space and then partnered with a childcare provider on location. It’s a relevant solution for a handful of people, but in terms of creating 16,000 spots – the community must do more.
Investing in Early Childhood Education
“We invest in K-12 as a society,” Boyles says. “We put money into higher education. We do not even come close to investing those kinds of dollars into early childhood, even though the research shows it would
make a big impact, not only for our economy because of workers needing childcare, but on the children themselves and our future.”
A lack of facilities is one driving factor of the crisis, but even if the community built more facilities, there would still be a workforce gap. Joint Initiatives says that, of the 430 statelicensed childcare centers they work with in the county, 75% of them report shortages of teacher-qualified staff.
Low wages for childcare workers are a significant contributor to the workforce shortage. It’s something that has frustrated Danekas greatly in her first year as a mother.
“That’s another thing that doesn’t make sense to me,” she says. “Childcare is basically like paying a mortgage. Where is that money going? Why is it not going to the childcare workers?”
From her personal experience, Danekas has observed that the teachers work hard and genuinely care about her son.
Finding Solutions to Protect Your Investments &
Your Family’s Future.
Workforce
Through $622,000 in funding from the Colorado Office of Economic Development for its Advancing Early Childhood Educators Program, Joint Initiatives is addressing the workforce gap in partnership with Pikes Peak State College. The program attracts, educates, retains and reduces barriers for early childhood teachers. The funding also provides a stipend to students when they complete the coursework, as well as career navigation to mentor them through the courses and then actively support graduating students with job placement.
Community Seeks Solutions Together
Last May, almost 100 local organizations came together at the Early Childhood Business Council’s Family Friendly City Summit to develop and prioritize solutions. Many delegates at the summit were in favor of establishing a voter-approved children’s fund for El Paso County.
Four Themes of El Paso Children’s Fund
Advocacy
Financing
Collaboration
Four themes with tactics were developed, including Policy Advocacy. Discussions included simplifying licensing, creating state tax incentives, increasing childcare teacher pay, redefining public education from K-12 to EC-12 and more. The other three themes are Public Awareness, Public Financing and Community Collaboration. An organizational meeting is set to take place at the end of September.
Keri Kahn is a staff writer for the SoCo Business Forum & Digest.
TO LEARN how you can get involved with Joint Initiatives and help solve our community’s childcare crisis, visit the nonprofit’s website at: JOINTINITIATIVES.ORG
Community Champions in Southern Colorado Businesses That Give Back in Big Ways
BY EMILIE HAGOPIAN
Give-back initiatives are booming in Southern Colorado. Local businesses are setting the standard for social responsibility, extending helping hands that reach far beyond city limits.
Sasquatch Cookies
Since its inception, Sasquatch Cookies has prioritized philanthropy. One of their most notable initiatives is the Feeding Project, powered by a partnership with Springs Rescue Mission and the Marian House Soup Kitchen. The company proudly donates 10% of its profits to SRM and all of its day-old treats to the Marion House Soup Kitchen.
The company’s philanthropic spirit comes from owner Brooke Orist, whose career began with meaningful work in the nonprofit sector. Before founding Sasquatch Cookies, Orist worked with Wellspring Egypt, Samaritan’s Purse and The Navigators. That passion for nonprofits was
deeply influential in the creation of Sasquatch Cookies.
“I didn’t want a job that was just about making money and climbing the corporate ladder; I wanted to be a part of something that cared for people,” says Orist.
What began as a humble cookie delivery service now stands as a valuable part of the community. All three Sasquatch locations participate in the Feeding Project. “We love doing whatever we can for the community,” says Orist.
To support the Feeding Project, please visit sasquatchcookies. com/feeding-project, or support Springs Rescue Mission directly at springsrescuemission.org
Goat Patch Brewing
Goat Patch Brewing has made a name for itself with its highquality craft beers and unwavering commitment to social responsibility.
One of the brewery’s most notable initiatives is its weekly Bleating Heart Night. Every Tuesday, Goat Patch Brewing hosts a local charity to
educate evening patrons about their cause. For every pint sold during Bleating Heart Nights, the brewery donates $1 to the featured charity. This initiative has supported a wide range of causes, from mental health organizations to animal shelters, demonstrating the brewery’s broad commitment to the community.
The brewery chooses two nonprofits to support each year as part of its Bleating Heart Initiative. When customers purchase a pint of Red Ale, they receive a wooden nickel to be placed into one of the organization’s boxes on display in the taproom. Each nickel represents 25¢ to be given to the organization at the annual company anniversary party.
“One of our core values for the brewery is community engagement, which has been a huge part of the foundation since we opened our doors in 2017,” says Darren Baze, head brewer and owner. “Our Bleating Heart Initiative has allowed us to serve and support over 100 local nonprofit organizations during our start-up years.”
For more information about the
Bleating Heart Initiative and Night, please visit goatpatchbrewing.com/ bleatingheartnight
Trails End Taproom
Trails End Taproom is another brewery committed to giving back. With one location in Colorado Springs and one in Monument, Trails End is known for its unique self-pour tap system and extensive selection of craft beers. The taproom has cultivated a loyal customer base that shares its vision of community support.
The brewery hosts a weekly Trailblazers program to kickstart community support and engagement. The initiative promotes both outdoor activity and charitable giving; each step, pedal and stride earns money for local nonprofits. Trails End Taproom has supported a variety of nonprofits through this program, from veterans’ organizations to youth sports programs.
For more information on how to participate, please visit trailsendtaproom.com/trailblazers
A past flyer of Goat Patch Brewing’s Bleating Heart event.
Photo Source: Sasquatch Cookies
Photo Source: Trailblazers
Image
Source: Goat Patch Brewing
Nonprofit
Phil Long Dealerships
Phil Long Dealerships, Colorado’s largest privately held auto group, has established itself as both a leading auto group and a champion of community support in Trinidad and beyond. Phil Long Dealerships has 18 locations across the state, and it has woven philanthropy into all of them. “We’re a dealership, but we have a philanthropic heart,” says Gina Sacripanti, chief communications officer at Phil Long Dealerships.
This commitment to charity comes from president and CEO Jay Cimino, who passed away in February of this year. Cimino led with a charitable hand and prioritized philanthropy far more than profits. He founded several nonprofits, including Mt. Carmel Veterans Service Center, Mt. Carmel Wellness and Community Center and Sister Blandina Gardens. The dealerships still support these nonprofits, as well as many others.
Cimino also personally invested in his hometown of Trinidad. “While he was away at the Marine Corps, he made a promise to his mother that he would come back and revive Trinidad,” says Sacripanti. Cimino improved his hometown in a variety of ways, including renovations, new construction, charitable contributions and a commitment to clean the local river. His contributions created new jobs and businesses in the city. “When you ask, ‘who’s the business developer in Trinidad,’ they’ll say, ‘it’s Jay Cimino,’” Sacripanti notes.
Following in Cimino’s footsteps, the dealerships have carried these charitable efforts forward. “Every one of our dealerships is committed to their communities,” Sacripanti emphasizes. Phil Long Dealerships supports hundreds of nonprofits each year, including a long-standing partnership with Pikes Peak United Way. Last year, Phil Long employees pledged nearly $240,000 through this partnership, making them the top donors in the state. “For us, profit doesn’t always mean money; it also means improving people’s lives,” Sacripanti adds.
For more information about Phil Long Dealerships’ charitable efforts and Jay Cimino’s legacy, please visit phillong.com/ history.htm
Emilie Hagopian is a staff writer for the SoCo Business Forum & Digest.
Southern Colorado Emergency Services at a Glance
BY TIFFANY UNDERWOOD
American Medical Response (AMR), a leading provider of emergency medical services (EMS), delivers pre-hospital care to thousands of communities across the United States. Part of the Global Medical Response (GMR) family, their website says AMR’s mission is to provide care to the world at a moment’s notice. The organization operates a fleet of over 8,000 ground ambulances and support vehicles.
Founded in 1992, the company emerged from the consolidation of regional ambulance providers to address changes in healthcare reimbursement, advancing technology and the growth of managed care plans. They partner with hospital systems, counties, municipalities, fire departments and government agencies to ensure patients receive timely and appropriate care. According to AMR. net, their workforce includes nearly 37,000 personnel and “an extensive fleet of ground and air assets.”
AMR’s scope of services covers 911 emergency care (available 24/7); BLS units (staffed by medically trained clinician); and ALS units (equipped like emergency rooms on wheels, allowing medical professionals to stabilize patients before reaching a hospital or trauma center). Their critical care services include specialized care for neonatal and pediatric intensive care patients, ensuring proper monitoring during transport.
In Colorado, AMR’s operations have a significant presence, despite the fact that the city of Denver and most of its municipalities use their own public service, as do most of the towns surrounding Colorado Springs (including Security, Fountain, Manitou Springs, Calhan, Monument and Black Forest).
In the Colorado Springs area, AMR’s coverage includes the United States Air Force Academy and much of the five surrounding counties. Employing approximately 250 paramedics and EMTs, the operation handles approximately 62,000 calls annually. The operation also created the Sentimental Journey program,
allowing terminally ill patients to visit meaningful locations — a program now adopted nationwide and recognized with state and national awards. Additionally, the facilities offer quarterly CPR classes and continuing education for EMTs and paramedics.
Colorado Springs’s contract with AMR is set to expire April 1, 2025. In anticipation, the Colorado Springs Fire Department (CSFD) and city administration considered establishing a CSFD-based EMS Enterprise to handle ambulance transport within the city. During the proposal presentation on May 13, CSFD claimed that transitioning to an in-house service would improve response times, reduce medical costs and expand community and public health programs.
According to the proposal presentation, over the past three years, AMR has arrived late to more than 33,000 calls (the highest number of calls, in 2022, was over 15,000 calls). For not meeting contract standards, including late arrival, the company was required to pay the city approximately $5.5 million in liquidated damages.
While the standard response time can vary widely, CSFD cited its average to be eight minutes and 50 seconds in 2022 and eight minutes and 29 seconds in 2023. CSFD said AMR’s
paramedics and EMTs responding to an average of 4,500 calls annually. AMR Cañon City offers standby medical services for community events such as the Blossom Festival and White-Water Festival and provides CPR classes, first aid courses and injury prevention training to local residents.
average response time was 15 minutes and 21 seconds in 2022, and 13 minutes and 26 seconds in 2023. Despite the presentation, the Colorado Springs City Council in June decided in a 5-4 vote to continue its contract with AMR rather than transitioning to fire department-led services.
AMR Pueblo, founded in 1994, provides emergency and nonemergency medical transport for Pueblo County. With about 110 paramedics and EMTs, the operation handles around 30,000 calls annually for a population less than 25% the size of Colorado Springs. The operation also provides monthly CPR classes, first aid courses and injury prevention training to local residents.
According to the 2018 Pueblo Ambulance Service Agreement, the most recent publicly available contract, the minimum response time requirements for Pueblo are as follows: citywide first response, first priority: eight minutes; second priority: 13 minutes. The services’ urban-first operator unit on-scene maximum response time, first priority:13 minutes; second priority:18 minutes. Pueblo AMR could not be reached for comment.
AMR Cañon City, founded in 1993, serves Fremont County, with around 20
Depending on the area of Cañon City the required arrival time differs, with residential areas having a contracted arrival time of eight minutes. However, for more rural areas of town, arrival requirements are approximately 10 minutes. There was no public data available on actual response times, nor was an employee able to cite historical standard response times.
“Whenever we receive a call, we have 60 seconds to get moving; then per our contract, the response time is eight minutes,” says Mike Miller, a Cañon City AMR representative. “We strive to always meet that requirement and to provide the best service to our community.”
Tiffany Underwood is a staff writer for the SoCo Business Forum & Digest.
Education is the most powerful weapon which you can use to change the world.
— Nelson Mandela
South African anti-apartheid activist, politician, and former President of South Africa
I never dreamed about success. I worked for it.”
— Estée Lauder Businesswoman & Philanthropist
It is only when we take chances that our lives improve. The initial and the most difficult risk we need to take is to become honest.
— Walter Anderson American Artist & Naturalist
Human Resources
Dealing with Change Doesn’t Have to be Stressful
BY DR. CRISTI BUNDUKAMARA
Change is an inevitable part of our lives, but that doesn’t mean it’s easy. Many people resist change and approach anything new or challenging with anxiety or fear. As a result, many may not make necessary adjustments, even when these changes could improve their lives.
Studies show that change brings stress and anxiety. Our brains are hardwired to see change as a threat, but it doesn’t have to be that way.
Simply organizing your thoughts can help. Use a few techniques to consider the changes you are struggling with and remove the stumbling blocks to growth and success. Define your goals, think through the problems and then make the choices that lead to success.
These steps can help navigate change, whether wanted or unwanted: a new job, a divorce, a move or an empty nest. Five steps can help you turn stressful changes into joyful adjustments.
1st Think it Through 2nd Organize those Thoughts
Reflect on the changes you are facing and how they impact you. If the change is positive, try to see it that way. Examine your feelings and write them down if it helps. Consider how the changes will affect your life.
Use visualization tools to categorize your thoughts and feelings. This can help manage them effectively. I use the Thought Map in the Mentally STRONG Method. Categorizing feelings can help organize chaotic thoughts and provide patterns that show how adaptable you’ve been throughout your life.
3rd Choose Your Actions
Once you make deliberate choices about handling the new parts of your life, you’ll be better equipped for the next time change comes around.
4th Manage Your
Emotional Budget
Recognize that emotions take energy and managing them is crucial. Create an emotional budget to allocate your energy effectively. This means slowing down and balancing your emotional budget with activities that add to your account, not take away from it. If you love yoga or hiking, do both to boost the energy levels needed to cope with change. If there are only demands on your energy and time, this will create an emotional deficit. Ensure you devote time to rest, relax and recover —
Make deliberate choices about how to handle these changes. Focus on actions that will move you toward your goals and personal vision. While understanding your feelings is an important step, staying with those feelings without a plan for the future keeps you stuck in thoughts and emotions that don’t change.
whatever that may look like. The first step is to start.
5th Make Positive Choices
Choose activities that help you process emotions constructively, such as journaling, meditation or talking to a trusted friend. These activities can help you reframe change in a positive light.
Dr. Cristi Bundukamara is a psychiatric nurse practitioner with more than two decades of experience. She started as an Army medic and then earned a master’s degree in psychiatric nursing before receiving a doctorate in health education. She founded the Mentally STRONG method to increase resilience in individuals. As a speaker, she draws on her personal experience to highlight the art of processing emotions and practical strategies for cultivating mental strength. She can be reached at cristibundukamara.com.
Advertiser Index / In Alphabetical Order
Thank you to each and every advertiser listed.
Alpine Bank
Altitude Hospitality Group
American Family Insurance
APG: Advanced Printing & Graphics
Bank of Colorado
Boot Barn by Bourbon Brothers
Business Digest Weekly Radio
Colorado Springs Hispanic Chamber of Commerce
The Colorado Springs Sports Corporation
Colorado Springs Utilities
Dad's Donuts
Financial Talent Group
Flying Horse Realty
Garden of the Gods Catering and Events
Garden of the Gods Market and Café
Garden of the Gods Resort & Club
Kaiser Permanente-Colorado
InBank
Marquesa Hobbs/Platinum Group
Minuteman Press
North Magazine
ROAN Media
Southern Colorado Women's Chamber of Commerce
The Pinery at the Hill
TILL Neighborhood Bistro & Bar
TrainWreck
Underline Infrastructure/Colorado Springs
VENU (formerly Notes Live)
Vine & Wheel
Xledger Inc.
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WHEN YOU PLAY WITH YOUR TEAM IN THE AMBASSADORS FOR HOPE CHARITY GOLF TOURNAMENT, YOU SEND THE EXODUS ROAD TO FREE THEM.
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