As the Pikes Peak region emerges from the recession that started in 2007, one trend has been given a boost: Young professionals are moving away for better-paying jobs in cities like Denver; Boise, Idaho; and Austin, Texas.In 2005, young professionals (defined as 25 to 44 years of age) fell to less than 30 percent of the region’s work force for the first time. The latest data, reported in the 2011 Quality of Life Indicators report for the Pikes Peak region, shows the number at 28 percent.Robert Cutter, a former Intel executive and member of the Quality of Life Indicators steering committee, addressed the El Paso County Board of County Commissioners in April regarding the area’s current employment trends.ìWe’ve seen younger people move to the larger cities because they feel that’s where the opportunities are,î Cutter said.According to the 2011 QLI report, the declining number of young professionals jeopardizes the ability of the region to attract and retain primary jobs that bring income into the area and also support one or two additional jobs.Cutter said it is important for the region to have highly skilled, high-paying jobs that provide discretionary income, which drives up sales tax revenue and property values. ìThey are core to our future economic growth,î he said.Jen Lavelle is one of the migrating young professionals.Lavelle has 27 months of military experience and recently earned an associate degree from Pikes Peak Community College.At the end of June, she’s moving to Sierra Vista, Ariz., to join her husband, who has already taken a job with a government contractor at nearby Fort Huachuca because of diminishing contractor jobs in Colorado Springs.ìThere are too many over-qualified people here and not enough jobs,î Lavelle said.In Arizona, she plans to work for the U.S. Border Patrol and pursue a bachelor’s degree in natural resource and wildlife management.Cutter said the region’s reliance on military spending is both positive and negative.After a five-year trend of increased military spending in the area, military and military-related spending make up 25 to 30 percent of the area’s gross metropolitan product ñ thatís nearly $7 billion a year, he said.ìA private company would identify having so many eggs in one basket as a highly concentrated risk,î Cutter said.The potential downside of that risk could become a reality. Cutter said he’s anticipating 10 percent across-the-board cuts in defense spending.Since 2000, the area’s population has increased by 120,000, but only about 1,000 more people have joined the areaís work force. And Cutter said they are earning about 5 percent less than they earned 12 years ago, after adjusting for inflation.He advised the commissioners to focus on growing and diversifying the area’s economy.ìCreate an environment for young professionals to be here, not migrating up the highway to Denver,î Cutter said.Commissioner Peggy Littleton asked if local and state regulations prevent companies from moving to the area. Cutter said it depends on the business. When regulations are a factor, it’s difficult to identify how big of a factor, he said.Cutter said it is more difficult to overcome the intense competition across the country for companies that offer good-paying jobs. ìIn order to be competitive, many communities around the United States are literally throwing money at companies to attract them.î
