Downtown Colorado Springs sees record-breaking business growth in 2021


COLORADO SPRINGS, Colo. (KRDO)– Last year, downtown Colorado Springs saw record-setting growth for new businesses.

In 2021, 37 new street-level businesses opened their doors, 16 more businesses than in 2020. In 2019, 17 new businesses opened, so in just two years the rate has more than doubled.

The new shops include retail boutiques, restaurants, venues, and hospitality.

The Downtown Partnership says they continue to have people showing interest in opening up shop with the retail vacancy at three percent.

“I don’t know that anybody expected this. I think this just shows that there’s a lot of priority changes and shifting and what people place value in and I think people are confident in the way Downtown is progressing and moving. I think that just speaks to the growth and momentum of Downtown right now,” said Katie Frank, the Economic Development Manager.

In December of 2020, Frank says downtown Colorado Springs had 400 thousand visitors. That includes tourists and residents. In December of 2021, that number almost hit one million.

The Downtown Partnership hopes that momentum continues into this year. So far, they have a dozen new businesses set to open.

 



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