We, and 56 other business journals, recently paid an arm and a leg to have Readex of Stillwater, Minn., perform an in-depth subscriber study.
The national average response rate was 38 percent. It seems CSBJ subscribers are more loyal than subscribers in other markets; the CSBJ response rate was 44 percent.
Some quick, interesting facts from the study:
* The average value of investments for a CSBJ subscriber is $910,000, with 17 percent of subscribers having portfolios between $1 million and $10 million
* 30 percent of CSBJ subscribers have a master’s degree or Ph.D.
* The average total household income of CSBJ subscribers was $197,000, with 8 percent making over $250,000
* 42 percent of CSBJ subscribers influence the purchase of vehicles for business
* 61 percent influence the purchase of computers
* 45 percent have between 10 and 99 employees in local work force
* 62 percent are in top management, with 44 percent having a CEO or president title
* $432,000 is the average market value of a subscriber’s home
* 23 percent of CSBJ subscribers spent $2,000 or more on business attire in past 12 months
* 67 percent have passed CSBJ stories along to others
* 66 percent have discussed CSBJ stories with others
* 42 minutes is the average time a subscriber spends with the CSBJ every week
* 19 percent of CSBJ subscribers also subscribe to the Wall Street Journal
* 70 percent of CSBJ subscribers have read every one of the last four issues
* 59 percent read the CSBJ at work and 23 percent read both at home and work
So what can the results tell us about our local business economy?
If household net worth is any indication, I think the outlook is good. Household net worth of CSBJ subscribers rose more than 26 percent over last year – from $1.108 million to $1.4 million.
Hopefully this and other positive increases are a reflection of our local economy coming back around.
Super Slab makes super sense
As a person who commutes from Monument every day, the Super Slab project just makes sense.
On Interstate 25, how many of the big semis on their way to Pueblo or New Mexico would take the new toll road? I would bet many would take the faster, more direct route of the toll road, resulting in a free-up of the highway for commuters like me.
OK, some folks may argue that people on the eastern plains may be displaced or have quality of life issues. To the contrary, I think a super highway going past Ellicott would be an economic boon for these areas.
An exit from the super highway could draw restaurants, gas stations, hotels, entertainment venues and sight-seeing opportunities. Heck, the world’s biggest ball of string could be moved out there.
Would some people be displaced? Sure, but lets think of the big picture. I am not being a bully to the folks out there. Rather, I am pointing out an opportunity that may not have been taken into account.
Consider all the housing that is going up on both sides of E-470 on the way to Denver International Airport. Perhaps a better east-west road would be put in over time, making the eastern plains more of a suburb of the Springs.
After all, it is about transportation. If there was a good transportation system out east, maybe some developers would take note and start the earth movers causing an infrastructure to be developed. Then families would move in and groceries stores and retailers would follow.
The tax base would increase and viola! The eastern plains become the new, booming Powers Boulevard.
Lon Matejczyk is publisher of the Colorado Springs Business Journal. He can be reached at lon.matejczyk @csbj.com or 329-5202.