The Milken Institute has recently placed Colorado Springs at the fifth spot in its annual "Best Performing Cities" index, marking a significant leap from its previous positions, ninth in 2022, fifteenth in 2024, and thirty-seventh as of 2023. This accolade showcases the city's economic vigor and diverse, resilient economy that has seen a consistent job growth pattern and a focus on generating new opportunities. "The Milken Institute’s Best Performing Cities ranking confirms what we’ve known for a long time that Colorado Springs has a high performing, well-rounded, diverse and resilient economy," Mayor Yemi Mobolade proudly professed, according to the City of Colorado Springs.
One strength of Colorado Springs highlighted in the report is how balanced its performance has been across numerous sectors. The labor market's solidity, coupled with the tech sector's robustness and accessible economic opportunities, has rendered the city a beaming example of growth. Dani Bolling, the Senior Vice President of Marketing, Communications, and Sales for Colorado Springs Chamber & EDC said, as per the City of Colorado Springs, "Our region’s strong job and wage growth, thriving technology sector, and highly skilled workforce make it a prime destination for businesses looking to expand and innovate, as well as for professionals seeking a dynamic place to grow and thrive."
Despite the city's monumental success in numerous areas, the report indicated housing availability needs attention. Understanding this, the city's leadership has zeroed in on Housing Solutions as one of their strategic priority areas, aiming to increase housing options for residents. "Our City is aggressively focused on solutions to increase housing choices so that residents have options that are right for them," said Mayor Yemi, as obtained by the City of Colorado Springs. The tactics include implementing a data-driven housing strategy, forging stronger community partnerships, promoting innovative construction approaches, and encouraging diverse development aligned with community needs.
