Colorado Springs came in at No. 4 among America’s top 10 military boomtowns, according to a list compiled using U.S. Bureau of Statistics data from 2009 to 2011.
The list, compiled by Texas-based tech startup SpareFoot Inc., showed that Colorado Springs has seen average annual population growth of 2.3 percent and an annual per-capita income growth of 1.6 percent. The metropolitan area average annual growth in per-capita military gross domestic product is 7.9 percent, while the same growth for non-military is only .4 percent, according to the list.
“Military spending contributes billions of dollars to the U.S. economy, and nowhere is that spending felt more than in American communities that host military bases,” SpareFoot said in a news release. “Some of these communities are booming — enjoying growth in population, per-capita personal income and gross domestic product, a key indicator of an area’s economic health.”
Colorado Springs — with five major military installations — places behind Hinesville, Ga., El Paso, Texas and Elizabethtown, Ky., as one of most rapidly expanding military communities.
“These are metro areas that, based on data from the U.S. Bureau of Economic Analysis, are growing the most in these three measures and have a substantial military presence,” according to the release. “They aren’t necessarily the largest military towns, but they are the fastest-growing.”
The release specified that the figures were adjusted for inflation and that the data is weighted: 40 percent for per-capita military GDP, 30 percent for per-capita non-military GDP and 15 percent for both population growth and per-capita personal income.
Colorado Springs is the only city in the state on the list.
To view the full report, visit SpareFoot’s website.