Colorado Springs ranks as 5th best place for Veterans to live
COLORADO SPRINGS, Colo. (KRDO) - The city of Colorado Springs is touting a high ranking as it pertains to veterans living in the city.
WalletHub ranked Colorado Springs as the 5th best place for veterans to live in America.
Right ahead of Colorado Springs are Raleigh, NC, and Madison, WI.
Colorado Springs' top individual ranking is for Economy Rank, which comes in at 8. That's followed closely by the Quality of Life Rank, which is at 12.
“This ranking is an affirmation of what we know about Colorado Springs; that we are one of the top military and veteran communities in the nation," said Mayor Yemi Mobolade. “It reflects our exceptional quality of life, our strong sense of belonging, and our shared commitment to those who have served."
The one rank keeping Colorado Springs from being higher than 5th is the employment rank, which comes in at 45th.
According to WalletHub, the employment ranking is made up of four key parts:
- Share of Military Skill-Related Jobs: Full Weight (~5.00 Points)
- Veteran Unemployment Rate: Double Weight (~10.00 Points)
- Job Growth: Full Weight (~5.00 Points)
- Note: This metric measures the average annual rate of job growth between the years 2020 and 2024.
- Veteran-Owned Businesses per Veteran Population: Full Weight (~5.00 Points)
Chip Lupo, a writer and analyst for WalletHub, says that two main stats are keeping Colorado Springs' Veteran Employment ranking down. That's veteran unemployment and Veteran-Owned Businesses per Veteran Population.
Lupo says Colorado Springs has a veteran unemployment rate of 5.1%. The most recent data from the Bureau of Labor Statistics has the unemployment rate for Colorado Springs as a whole at 3.7%.
Then, for veteran-owned businesses, Colorado Springs comes in at 53 out of 100.
KRDO13 met with one group trying to improve that number.
The Veterans Business Outreach Center provides training, counseling, and networking for the veteran entrepreneur. And that, again, includes military spouses. And so what that would look like is if you have that great idea, you can come to us and we can help you kind of formulate the business plan around that," said Joe Reagan, the Director of the Colorado Veteran Business Outreach Center (VBOC).
Reagan said the most difficult part for any small business owner, veteran or not, is generating funds to get the show on the road, per se. The VBOC has helped in that aspect. Reagan said in the past six months, VBOC clients have contributed over $12 million in new business growth.
But money isn't the solution to all small business problems.
KRDO13 went out to speak with a local veteran-owned business with locations in Colorado Springs and Fountain.
"12 years ago, Paul and I decided to open a venture of brewing beer."
Paul and Teresa Vieria started Peaks N Pines Brewing around a decade ago and now have two locations in Colorado Springs and Fountain. This was far from either of their first careers. Paul spent two decades in the Air Force and even now works in a civilian role with the Army. Teresa originally quit her job to help with getting this business off the ground.
"It takes money and it takes time," Teresa said.
More than time and money, it takes information and know-how. One big recommendation Paul and Teresa had was to take advantage of the military community, or any community willing to help out.
"Well, one of the guys that is in the brewing community here sat down for three hours with me, answered every one of my questions. So that was so important for me. And that is reaching out to other people," Paul recalled all the questions and concerns he had when he was first starting.
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