On today’s show we are talking about what happens when there is an announcement about jobs moving.
It seems like a zero sum game in which there are winners and losers. Yesterday’s announcement from the White House had those characteristics.
If you’ve been following this show for a while, you know that my development firm Y Street Capital, together with a few partners owns a large parcel of land consisting of 1783 acres in Colorado Springs. The project is a large master planned community located on the eastern edge of Colorado Springs. The development of the city is constrained by the mountains on the west side. It has developed North and South. Denver is about an hour to the North. The city has also developed East which is where our property is located. Our immediate neighbour is Schreiver Space Force Base. There are numerous assets in Colorado Springs.
Colorado Springs is a major hub for U.S. military space and defense operations, and as a result, many of the assets located there are part of the newly formed U.S. Space Force, which was created from elements of the U.S. Air Force.
The move was widely anticipated. Our sources said that the announcement would happen before the end of August. (We were off by two days.) Our sources tell us the move is anticipated to affect about 750-1000 jobs. Schriever Space Force Base is not being moved, nor are the ground bases in Alaska or elsewhere around the world. While the move is negative for Colorado Springs, we anticipate that the Golden Dome announcement from earlier this year will require growth in both Colorado Springs and Huntsville in order to be realized. Much of the growth that was announced for Huntsville is linked to the Golden Dome program, and not the wholesale relocation of Space Force from Colorado to Huntsville. Therefore, we do not foresee a long term negative impact.
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