BUSINESS LEADERS SHARE CAUTIOUS OPTIMISM FOR THE YEAR AHEAD!Developing an educated and trained workforce top of mind.
The third annual Commerce City Business and Development Summit brought together local businesses to help direct the city’s future business and development efforts.
The event provides a forum for community and industry leaders to discuss their needs, wants, and challenges with the current economic climate. Participants broke into small groups based on their specific industry and were encouraged to collectively draft constructive suggestions for changes to support business growth and future development. This year’s feedback identified:
• A need to develop educated and trained workforce for employers. • Better promotion of local businesses and networking opportunities within the city. • Targeted outreach and incentives for small businesses. • Alterations to municipal code relative to building and signage requirements. • Increased level of city services for businesses and infrastructure (such as roads) to support economic growth.
“The input received from local business leaders is invaluable to the city’s efforts to facilitate a pro-business environment,” said City Manager Brian McBroom. “We look forward to continuing to work together to make tangible improvements to our processes and programs.”
Commerce City’s five target industries include advanced manufacturing business and professional services, logistics and distribution, retail/hospitality/leisure, and DIA technology.
According to an online survey of local businesses:• Nearly 73 percent think their overall economic situation will improve in the next year. • One-third of respondents planned to hire more staff within the next year, while another third were unsure. • Forty percent of companies plan to improve their current business facility or property• Another 40 percent are not planning any capital improvements.
Feedback from previous summits helped put in place the city’s Business Advisory Committee (BAC), the incentives program, and an improved the development and business permit review process.
The incentive program continues to offer avenues for business investment within Commerce City. To date, the program helped 30 firms create 668 jobs and more than $85 million in capital investments. Based on this year’s survey, utility payment assistance, increased city services, shared marketing/advertising programs, and access to small business loans were items identified by businesses as tools that could most benefit future business growth and development within the city.
For more information on the summit, visit www.c3ed.com. For more information on the city’s incentive program, visit www.c3gov.com/incentives.