The Milken Institute released its annual “Best Performing Cities” report Tuesday, naming Colorado Springs No. 5 in its nationwide analysis that maps economic growth across the United States. This is the highest ever placement for Colorado Springs in the Milken report and the highest in the state. The city’s previous highest ranking was No. 9 in 2022. In 2024, Colorado Springs placed No. 15 and was No. 37 in 2023.
“The Milken Institute’s Best Performing Cities ranking confirms what we’ve known for a long time – that Colorado Springs has a high performing, well-rounded, diverse and resilient economy,” said Mayor Yemi Mobolade. “Selected as the top 5 economy across all large cities in our country, we are consistently adding new jobs and are laser focused on continuing to bring new opportunity to our thriving and vibrant city.”
The report points to Colorado Springs’ balanced performance across all categories of the Best Performing Cities ranking as one of its strengths. This includes a solid labor market, strong high-tech sector, and excellent access to economic opportunities.
“The Milken Institute’s recognition of Colorado Springs as the No. 5 Best-Performing City in the U.S. reflects the remarkable growth and innovation happening in our region,” said Dani Bolling, Senior Vice President of Marketing, Communications, and Sales for Colorado Springs Chamber & EDC. “Our region’s strong job and wage growth, thriving technology sector, and highly skilled workforce make it a prime destination for businesses looking to expand and innovate, as well as for professionals seeking a dynamic place to grow and thrive.”
Housing availability is noted in the report as an area needing improvement. The City has prioritized Housing Solutions as one of its five strategic priority areas.
“Our City is aggressively focused on solutions to increase housing choices so that residents have options that are right for them,” said Mayor Yemi. “This work includes implementing a data-driven housing strategy, strengthening community partnerships, supporting innovative approaches to construction and fostering diverse development that meets the needs of our community.”
For more information on the City’s strategic priorities, visit ColoradoSprings.gov/StrategicPlan.