Archive for category: General News

Steamboat Economic Summit 2015 presentation

Steamboat Economic Summit 2015 presentation

Economic presentation from 2015 Steamboat Economic Summit.

YVDP_RouttEconomicOverview_EconomicSummit_9Oct2015_Final

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FastFacts – July 2015

FastFacts – July 2015

Employment
May 2015 unemployment rates in Moffat (4.9%), Rio Blanco (5.3%) and Routt (4.8%) all represented improvement from May 2014. Colorado’s unemployment rate was 4.3% while the newly released U.S. rate for June dropped to 5.3%, the lowest it’s been since April 2008.

Industry
Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the fourth quarter of 2014. Healthcare and Social Assistance led the way as the largest wage-producing industry in Routt County.

Wages
The Finance and Insurance industry paid the highest average weekly wage in both Routt and Moffat counties in the fourth quarter of 2014, while Utilities workers brought home the highest average weekly wage in Rio Blanco County.

Real Estate
February 2015 median list prices for homes were up in Rio Blanco County (13%) and Routt County (19%) and down by 11% in Moffat County compared to the same time the previous year.

Energy
Year-to-date coal production through April 2015 was up 92% in Rio Blanco County and 9% in Moffat County, but was down 35% in Routt County compared to the first four months of 2014. Year-to-date gas production was down 24-30% in each county.

Climate
The end of June found Stagecoach and Yamcolo reservoirs holding at 13% and 19% above usual water levels respectively. The Yampa River was flowing at 36% of its 2004-2014 average, with the White River flowing at 79% of average.

2015_07_FastFacts_final

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FastFacts – April 2015

FastFacts – April 2015

Employment

February 2015 unemployment rates in Routt (3.7%), Moffat (6.3%) and Rio Blanco (6.5%) all represented improvement from the same time one year earlier. The Colorado unemployment rate in February 2015 stood at 4.7% while the U.S. rate was 5.5%.

Industry

Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the third quarter of 2014, accounting for about a fifth of all wages. Construction led the way as the largest wage-producing industry in Routt County.

Retail sales

Latest available state retail sales figures showed Routt County (7%) and Rio Blanco County (5%) outpacing year-to-date figures from the previous year, with Moffat County running behind its previous-year figures by about 6%.

Real estate

February 2015 median list prices for homes were up in Rio Blanco (13%) and Routt (19%) and down by 11% in Moffat County compared to the same time the previous year. Favorable foreclosure ratios were running at lower than 0.5 of every 1,000 homes.

Energy

January 2015 coal production was up 47% in Moffat and 86% in Rio Blanco, and down 45% in Routt, compared to the same time the previous year. January 2015 oil and gas production trailed previous-year figures in all three counties.

Climate

The end of March found snow-water running 20% to 30% below 10-year averages. Stagecoach and Yamcolo reservoirs were holding at 25% and 14% above usual water levels respectively. The Yampa and White rivers were flowing above 2004-2014 averages.

2015_04_FastFacts_final

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FastFacts – February 2015

FastFacts – February 2015

Employment
Favorable December 2014 unemployment rates in Moffat (4.2%), Rio Blanco (3.2%) and Routt (3.0%) combined for a tri-county improvement of 1.2% from one year earlier. The December 2014 Colorado unemployment rate was 4.2%, with the U.S. rate at 5.6%.

Industry
Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the third quarter of 2014, accounting for about a fifth of all wages. Construction led the way as the largest wage-producing industry in Routt County.

Retail Sales
Latest available state retail sales figures showed Routt County (7%) and Rio Blanco County (5%) outpacing year-to-date figures from the previous year, with Moffat County running behind its previous-year figures by about 6%.

Real Estate
January 2015 median list prices for homes were up 10% in both Rio Blanco and Routt counties, and were down by 9% in Moffat County, compared to the same period last year. Favorable foreclosure ratios were running at lower than 1 of every 1,000 homes.

Energy
January 2015 coal production was up 47% in Moffat and 86% in Rio Blanco, and down 45% in Routt, compared to January 2014. Moffat oil and gas numbers slightly trailed January 2014 figures, while Rio Blanco oil and gas outperformed the previous January.

Climate
The end of February found snow-water at Rabbit Ears, Buffalo Pass, Ripple Creek and Burro Mountain running 10% to 20% below 10-year averages. Stagecoach and Yamcolo reservoirs were holding at 10% to 25% above usual water levels. The Yampa River and White River were flowing 9% to 20% above their 2007-2014 averages.

2015_02_FastFacts_Final

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1st Quarter 2015 Regional Economic Forecast News – Moffat, Rio Blanco & Routt counties

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February 24, 2015

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General News

1st Quarter 2015 Regional Economic Forecast News – Moffat, Rio Blanco & Routt counties
  • Unemployment rates for the tri-county Yampa-White River region fell by a combined 1.9% over the course of 2014. December 2014 rates for each county (4.2% in Moffat, 3.2% in Rio Blanco, 3.0% in Routt) represent a return to favorable pre-recession levels. Current economic indicators point toward continued low unemployment and sustained job growth in Colorado in 2015.
  • The Mining sector continues to lead the way in Moffat and Rio Blanco counties as the largest wage generator. Mining accounted for almost $9 million of the roughly $50 million in wages in Moffat, or about 18% of all wages, in the second quarter of 2014. Mining won out as the top wage distributor and largest employer in Rio Blanco County, accounting for better than $12 million of the roughly $40 million in RBC Q2 wages, or about 30%.
  • In Routt County, the Construction industry accounted for 15% of the roughly $137 million in total Q2 wages and took second place as largest employer in terms of jobs. Accommodation and Food Services was Routt County’s largest sector in terms of number of workers, providing more than 15% of the jobs in the county. But this sector, unfortunately, offers the lowest wage in the county.
  • Year-to-date coal production through October was up better than 6% in Moffat County, down 6.5% in Rio Blanco County and down 11% in Routt County.
  • This quarter’s Regional Economic Forecast News digs deeper into which industries are growing in the tri-county area. Our analysis begins on page 8.

YV_Data_Partners_Economic_Newsletter_Q1_2015_Final

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FastFacts – December 2014

FastFacts – December 2014

Employment

November unemployment rates in Routt County (3.7%) and Moffat County (3.8%) increased slightly since October but remained favorable compared to November 2013, when rates stood at 5.5% in Routt and 5.2% in Moffat.

Real Estate

There were 27% fewer home listings in Moffat County in December 2014 compared to the previous December, while Routt County saw roughly a 15% drop in the number of listings over the same period. November 2014 median listing prices were down about 15% in Moffat and 4% in Routt compared to the previous November.

Energy

Coal production through September 2014 was up nearly 8% in Moffat County and 2% in Routt County compared to the same period in 2013. Moffat oil and gas numbers trailed 2013 figures, while Routt’s small quantity of gas production was up 15% from 2013.

Climate

Recent snow boosted snowpack and snow-water equivalent to above the 1987-2013 average on Rabbit Ears Pass and about average on Buffalo Pass. Stagecoach and Yamcolo reservoir levels remained better than 20% above average, a carryover from the Yampa Valley’s wet summer.

2014_12_FastFacts_Final

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4th Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

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November 18, 2014

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General News

4th Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties
  • Unemployment rates in the Yampa Valley this fall have reached a seven-year low, portending good news for job-seekers but a shortage of workers for employers, particularly in Routt County.
  • The Yampa Valley’s unemployment rate continues to improve, a five-year trend that is expected to hold through the first quarter of 2015. The combined county unemployment rate in September was 3.3%, with Moffat County’s rate at 3.8% and Routt’s at 3.0%. However, Routt County’s lack of available workers now clearly points toward a labor shortage this quarter and next.
  • Routt County has continued to post strong retail sales. Latest available Colorado Department of Revenue information on local retail sales shows that year-to-date sales through the first third of 2014 were up nearly 5% in Routt County. Those figures also showed a dip of about 11% in Moffat County compared to the same portion of the previous year.
  • The Moffat housing market overall has been stable recently, with lower than average foreclosures and consistency in prices and the number of homes for sale for a typical September. The Routt housing market experienced an improvement with an increase in list prices, rise in sale prices, low foreclosure rate in September and fewer homes for sale in October compared to previous years.
  • Coal production over the first half of the year was up from 2013 figures in both counties. Based on the latest data available, year-to-date coal production through June was up nearly 9% in Moffat County and 17% in Routt County, despite a statewide production decline of 2%. Year-to-date oil production through August was down by just under one-third in Moffat County and one-quarter in Routt County from the previous year. Moffat year-to-date gas production was down nearly 17%, while Routt’s relatively small amount of gas production was up by 17% compared to 2013.

YV_Data_Partners_Economic_Newsletter_Q4_2014_Final

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FastFacts – September 2014

FastFacts – September 2014

Employment

Routt County’s August unemployment rate of 3.6% was the lowest rate Routt County had posted since September 2008. Moffat County’s August 2014 unemployment rate of 4.8% was the lowest rate Moffat had seen since December 2008.

Retail Sales

Moffat County retail sales over the first four months of 2014 lagged 10% behind sales for the same period in 2013, with the Lodging sector showing the most severe decline. Routt County retail sales over the first four months of 2014 were 6.1% ahead of the previous year.

Real Estate

The outset of October found Moffat County with 25% fewer homes listed for sale compared to the first day of summer, with median listing price remaining within 3% of the six-month average. Routt County median listing price remained within 1% of its six-month average.

Energy

Coal production for the first half of 2014 was up nearly 17% in Routt County and better than 9% in Moffat County compared to the same period in 2013. Moffat oil and gas numbers trailed 2013 figures, while Routt’s small quantity of gas production was up 29% from 2013.

Climate

Rabbit Ears and Buffalo Pass precipitation amounts, Stagecoach and Yamcolo reservoir levels, and Yampa River streamflow figures all remained well above average as a moist Yampa Valley summer turned to fall.

2014_09_FastFacts_Final

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FastFacts – August 2014

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September 11, 2014

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General News

FastFacts – August 2014

Employment

Routt County’s July unemployment rate of 3.9% is the lowest rate the county has seen since September 2008. Moffat County’s July 2014 unemployment rate of 5.4% remains unchanged from the previous month and compares favorably to its July 2013 rate of 6.1%.

Industry

In Q1 of 2014, more Moffat residents worked in Retail Trade than any other industry, while Mining provided the highest wages. Accommodations & Food Service accounted for the greatest number of jobs in Routt, with Finance & Insurance providing the highest wages.

Real Estate

July 2014 median listing prices were down 5.5% in Routt County and 5.3% in Moffat County from the previous July. Number of homes for sale in August 2014 dropped by 6.5% in Routt and 12.9% in Moffat compared to August 2013.

Energy

Year-to-date coal production through June was up better than 10% in Moffat County and nearly 17% in Routt County compared to the previous year, even as coal production statewide declined by 1.6%. Year-to-date oil production was down in both counties.

Climate

Stagecoach and Yamcolo reservoir levels were running better than 20% above average. Yampa River streamflow in Steamboat was more than three times the average, while accumulated precipitation on Buffalo Pass/Rabbit Ears was better than 25% above average.

2014_08_FastFacts_Final

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SET (Stronger Economies Together): Yampa White River Region

SET (Stronger Economies Together): Yampa White River Region

Stronger Economies Together Initiative

Launched in 2009 by the U.S. Department of Agriculture (USDA) Rural Development in collaboration with the nation’s Regional Rural Development Centers (RRDC) and their land-grant university partners, Stronger Economies Together (SET) is designed to strengthen the capacity of communities in rural America to work together in developing and implementing an economic development blueprint that strategically builds on the current and emerging economic strengths of their region. The Stronger Economies Together program builds collaboration between communities, provides economic analysis that is tailored to help capture the region’s current or emerging clusters and comparative economic advantages, and is supported by technical assistance provided by land-grant university extension systems.

Regional Collaboration

This plan reflects a collaborative planning process including representatives of local governments, non-profit community organizations, and business sectors in Moffat, Rio Blanco and Routt Counties. Public participation was encouraged through media communications and outreach to constituent groups. The resulting representative group of more than 80 participants attended nine planning meetings held throughout the region between March 2013 and December 2013, bringing input from their organizations, partners and constituents. The plan was finalized after consideration in public meetings and formal acceptance by the County Commissions and other elected officials of Moffat, Rio Blanco, and Routt Counties.

Yampa White River SET Plan FINAL 7-2-14

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