Excellence in Economic Adjustment Strategies: The City of Pueblo Rebuilds Its Economic Base (cont.)

• Greater Pueblo Chamber of Commerce: Due to efforts of the Chamber and the expansion of local venues, the number of major, community-wide events held in Pueblo has grown from three in 1985 to eight in 2005. In 1998, the Pueblo Convention Center hosted 411 events with total revenue of more than $920,000; business has grown so that in 2005, the convention center hosted 612 events with total revenue of $1.28 million. The impact of attendee spending on the local economy in 2003 was estimated to be $3.4 million. Two spinoff organizations have been created as a result of tourism development, the Pueblo Lodging Association and Destination Pueblo.

The Chamber is also a partner in the Pueblo Education Consortium (PEC), which brings together Colorado State University at Pueblo, Pueblo Community College, School Districts 60 and 70, and local business leaders to identify the workforce needs of the local business community.

• Latino Chamber of Commerce: The Latino Chamber created the El Pueblo Interdevelopment Corporation (EPIC), a program that provides loans to existing and startup businesses that don’t meet conventional banking underwriting criteria. It created the Pueblo Hispanic Education Foundation (PHEF) originally to raise money for scholarships and support services for Hispanic students, but now includes anyone of low- to moderateincome. The Latino Chamber also was instrumental in creating the Pueblo Technology Alliance, a group started to help southern Colorado organizations, businesses and community members understand and use technology to its full potential.

• Colorado State University – Pueblo: Opened the Malik & Seeme Hasan School of Business, partially funded by a local businessman, in the early 1990s.

• Pueblo Community College: Pueblo Community College (PCC) has been a leader in providing customized training for local business. In 1994, it constructed the Gorsich Advanced Technology Center to provide highly technical training. PCC also houses a Small Business Development Center.

• Pueblo School District 60: In 2002, a $100 million bond issue passed to fund technology upgrades in all the schools throughout the district.

• Pueblo School District 70: Created the Tech Academy for high school students, now housed in the Gorsich Center at PCC.

Results

The Pueblo community has achieved significant results over the past 20 years (graph) not by dwelling on its losses but by developing strategies, forming partnerships and taking action. As shown in the table on the next page, over the past 20 years Pueblo’s unemployment rate has dropped from 10.5 percent to 6.8 percent, jobs increased by 43 percent and population has grown by 24 percent.

Though progress seemed slow at times, the city stuck to a steady course and continues to prosper today. Pueblo’s accomplishments were recognized in early 2000 when Partners for Livable Communities designated the City of Pueblo – which in 1983 had an unemployment rate near 20 percent – as one of America’s Most Livable Communities.

Ironically, the long-term success of Pueblo’s strategy may be best exhibited by the historic bellwether of the Pueblo economy, Rocky Mountain Steel (formerly CF&I Steel). Today, Rocky Mountain Steel is again a healthy and significant contributor to the city’s economy. The new company has made significant investments in the mill, and employment has grown from a low of 603 employees in the fourth quarter of 1999 to just under 900 workers as of March 2006.

Pueblo looks to the future with confidence. Regardless of any economic challenges that may arise, Pueblo knows that with the right planning, action and partnerships, it will not just survive, but thrive.

For more information, visit the City of Pueblo’s Web site at www.pueblo.us.

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