Economic Development

National Association of Manufacturers Call for Unity

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Referencing the highly contentious presidential election, the National Association of Manufacturers (NAM) have gathered pledges from manufacturing and business leaders across the country in an effort to rebuild trust in our democratic and economic institutions, with the singular purpose of offering “abundant opportunity to all”.

In a call to respect the office of the President, NAM have stated that they will share ideas and expertise with President-elect Trump and the 115th Congress for the purposes of celebrating and defending the principles of “free enterprise, competitiveness, individual liberty and equal opportunity”.

NAM also state that they expect our newly elected leaders to not get caught up with “political extremes” but to focus entirely on solutions to lift up all Americans, thereby bringing about widespread growth and prosperity in this country. The association will offer greater detail regarding these solutions over the coming weeks.

See more at: http://www.nam.org/Newsroom/Press-Releases/2016/11/Manufacturers-to-President-Elect–We-Are-the-Solution/#sthash.dHxGGTVj.dpuf

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To learn more about Broomfield’s exciting new economic development program, the Access Broomfield Economic Coalition, click here.

Advanced Manufacturer Leaving Broomfield

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As reported in Biz West and the Daily Camera, Forge Nano, formerly known as PneumatiCoat Technologies, will soon be operating in Louisville. The move comes after the company sought $20 million in Series A funding to increase its production from a 30-ton per-year pilot plant to a 300-ton per-year light commercial production plant.

Forge Nano, which specializes in nano-coating technology for batteries and works with the likes of LG, Samsung, Sony and Panasonic currently employs 17 people but anticipates that number should grow to 20 by the end of this year and 40 the end of next year with the increased production.

Obviously it is wonderful to see a local company born out of the University of Colorado grow and succeed but somewhat bittersweet to see them leave Broomfield, particularly as they now look to double their workforce.

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To learn more about Broomfield’s exciting new economic development program, the Access Broomfield Economic Coalition, click here.

Young Broomfielder on Shark Tank

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Jack Bonneau, a sixth-grade student from STEM Lab and young entrepreneur, recently appeared on the TV show Shark Tank with his business – Jack’s Stands & Marketplace. On Friday, November 11 Jack’s episode will air on ABC. STEM Lab will host a viewing party and town hall interview with Jack on November 11 from 7 – 9 p.m. at Adams 12 Five Star Schools Educational Support Center, 1500 E. 128th Ave. in Thornton. Jack’s mentor, former Denver Bronco Reggie Rivers, will be in attendance leading the town hall where Jack will talk about his business, his journey to Shark Tank and share stories from other great young entrepreneurs he knows.

You can read more about Jack and his path to success in the New York Times article, “Some Kids Sell Lemonade. He Starts a Chain.

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To learn more about Broomfield’s exciting new economic development program, the Access Broomfield Economic Coalition, click here.

Great Momentum in Broomfield

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As reported by Channel News 7, three large announcements for Broomfield in the last quarter equates to roughly $500 million in new capital investment for the City and County. Two of these announcements, IKEA and JP Morgan Chase are going to be situated around Highway 7 and I-25, while Viega is bringing its new U.S. Headquarters to Interlocken.

Obviously projects such as these do not happen overnight with negotiations spanning months and years but this recent spate of activity points to significant momentum for Broomfield. We hope to capitalize on this growth as a community, growing our existing companies while continuing to attract new businesses.

Congratulations to everyone involved in making these projects a reality in Broomfield!

America’s 50 Best Cities to Live – Broomfield Ranks No. 1

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Quoted directly from 24/7 Wall St. and reported in USA Today:

To determine America’s best cities to live in, 24/7 Wall St. reviewed data on the 550 U.S. cities with populations of 65,000 or more as measured by the U.S. Census Bureau. Based on a range of variables, including crime rates, employment growth, access to restaurants and attractions, educational attainment, and housing affordability, 24/7 Wall St. identified America’s 50 Best Cities to Live.

1. Broomfield, Colorado
> Population: 65,065
> Median home value: $342,800
> Poverty rate: 4.6%
> Pct. with at least a bachelor’s degree: 56.1%

Broomfield boasts several economic features that are likely quite attractive to families browsing for a new city. Less than 5% of city residents live in poverty, for example, a fraction of the national poverty rate of 14.7%. The health of a city’s job market is one of the most universal characteristics of a highly desirable city. Not only is Broomfield’s annual unemployment rate of 3.3.% is one of the lower rates of U.S. cities, but also the number of jobs in the city grew by 8.0% from 2013 through last year, double the comparable national growth rate. If education levels of a population are any indication of the quality of jobs in an area, then the jobs offered in Broomfield are high skilled and high paying. Well over half of adults in the city have at least a bachelor’s degree, one of the higher college attainment rates of any U.S. city.

Uncertainty Around Level 3 Acquisition

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As reported in the Denver Post, CenturyLink Inc. announced that it is planning to buy Broomfield’s Level 3 Communications in a deal valued at $34 billion. According to the paper, the combined company will be headquartered in Monroe, Louisiana however, “few details were shared on what the acquisition means for local operations and thousands of Colorado employees”. CenturyLink’s senior corporate communications manager Frank Tutalo was quoted as saying that the company, “will maintain a significant presence in Colorado as well as the Denver metropolitan area.” It is estimated that Level 3 employs approximately 1,000 workers in Broomfield. Although approved by each company’s respective board, the deal is still subject to investor and regulator approval.

The Intersection of Art and Economic Development

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As part of the Denver Metro Chamber “Your Conversation With” series, we recently had the pleasure of listening to and asking questions of Christoph Heinrich, Ph.D, Director of the Denver Art Museum.

Invited to speak at the Chamber, Dr. Heinrich provided a detailed description of the role of the Art Museum not only as a collector and curator of art but as a cultural beacon for the city including, an expansive teaching role.

Originating from Germany and working in Hamburg prior to coming to Denver, Dr. Heinrich has assembled a truly international team in his quest to make the Denver Art Museum a globally recognized museum. Through his efforts and that of his team, the museum also acts as a ambassador for the city and region obviously promoting arts and culture but also the quality of life factor so central to successful economic development. This then is the intersection of Art and Economic Development – that in striving to support cultural amenities such as the Denver Art Museum we also work to improve the overall quality of life for the region, a factor recognized by individuals and businesses alike.

Obviously, quality of life factors are not limited to the Denver Art Museum as we consider our own Broomfield community although, Denver’s growing global recognition can only aid in our overall economic development goals.

There are numerous elements that contribute to a positive quality of life including our own City & County’s commitment to maintain 40 percent open space, the ongoing development of a Broomfield “downtown” and the role of our various area non-profits. Some of the challenges include how we cohesively market our quality of life, appealing to a wide audience, how we work to create a stronger sense of place and how we continue to support and grow area arts and culture so crucial to our overall life experience.

The success of the Denver Art Museum both in terms of its primary mission and its impact on business attraction is a great example of the intersection of art and economic development on a macro level. Hopefully we can look to reproduce some of their success by supporting our own arts and culture.

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EDCC Goes Back to Basics

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October 17th – 19th, marked the Economic Development Council of Colorado’s (EDCC) annual conference held in the beautiful setting of the Town of Vail. Focused on the theme of “Back to Basics,” the organizers of the three-day conference offered a program focused on some of the core principles of economic development.

Presentations and breakout sessions included topics such as: Preparing a Community and its Workforce for Disruptive Change; Driving Effective Partnerships to Meet Statewide Preparedness Goals; Talent – Development, Attraction and Retention; Educate and Train the Workforce of the Future; Cultivate Innovation and Technology; Dynamics of Economic Development Today; Essentials of Strategy; Measuring Success; Marketing; Talent Attraction and Retention; and Growing from Within.

Experts in the fields of unmanned air systems and energy also presented in two plenary sessions aimed at evaluating the economic impact of these rapidly changing sectors of the economy.

With Colorado already home to numerous Aerospace companies including those operating here in Broomfield, the topic of Unmanned Air Systems (UAS) seemed very relevant, particularly given the growth in this sector. The Consumer Technology Association reports, “U.S. drone sales are expected to top 2.4 million aircraft this year [2016].” In an economic impact study done by AUVSI in March 2013, in the first three years of UAS integration in the U.S., the industry is expected to create 70,000 jobs and have a $13.6 billion economic impact. By 2025 its expected job growth will increase to 100,000 with an $82 billion economic impact.

In the UAS presentation business leaders explained how the industry was already having a significant impact here in Colorado including in the fields of: agriculture, forestry, law enforcement, search and rescue operations, real estate and more. We learned that this is a disruptive industry with the potential to offer companies considerable savings over more traditional solutions which in turn offers great entrepreneurial potential.

The second plenary session was focused on the evolving energy market. Key drivers of energy demand are changing, creating a very different energy future than what we’re familiar with today. These changes present significant challenges to our energy suppliers and producers. Representatives from Xcel Energy and Tri-State Generation and Transmission Association, discussed the importance of economic development officials and local leader’s involvement, in helping communities and businesses make the transition into new forms of energy output. Xcel Energy is looking into “Our Energy Future,” and how energy consumers can choose their energy sources and how they will use it. “While the electric grid has been a trusted backbone to our community and has reliably powered our homes and businesses. It has also evolved into a platform to provide growth for emerging technologies, products, and services which have contributed to new industry development, job growth, and innovation,” said Rob Osborn, director of strategic revenue initiatives.

Overall, the conference was a great opportunity for representatives from economic development organizations across the state, elected officials, and local business leaders to gather, network and learn with the overall goal of growing the Colorado economy.

Please click here to read more about all the speakers and to download various presentations.

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About the EDCC:
The Economic Development Council of Colorado (EDCC) is a state-wide, nonprofit organization dedicated to successful, responsible economic development. EDCC professionally represents the collective economic development interests of both the private and public sectors. Our mission is to be the premier state-wide organization for strengthening Colorado’s economy by promoting the highest standards of knowledge and skill for ED professionals, educating local and state leaders about the realities of economic growth, and advocating public policies that enhance economic opportunity for all of Colorado.

Broomfield Hospital Ribbon Cutting

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Earlier in the month, UCHealth Broomfield Hospital held its official ribbon cutting and even the Broomfield High School band was in attendance to mark the occasion! Although open for a number of months prior, this was an opportunity to invite various stakeholders to celebrate a first in Broomfield’s history.

Located at 11820 Destination Dr., near Highway 36 and Wadsworth Boulevard, UCHealth Broomfield Hospital 18-room facility has three operating suites, a four-bed intensive care unit, an outpatient surgery center, lab and 24-hour emergency department. There is however significant room for growth as demand increases with the building eventually able to house 50 inpatient beds. Although carrying the UCHealth moniker, the new Broomfield Hospital is operated through a partnership with Adeptus Health based out of Texas.

Currently the hospital employs 125 people although that number is anticipated to grow as more patients are seen. Just the week before the Joint Commission certified the new hospital, permitting the freestanding ER rooms to accept Medicare, Medicaid and Tricare patients.

The ribbon cutting proved to be a very jubilant affair with the aforementioned High School Band and words from Mayor Randy Ahrens. UCHealth was even kind enough to write a generous $5,000 check to the High School to thank them for their participation. Toward the tail-end of the festivities attendees were given the opportunity to tour the facility which provided a sneak peak of the 64-slice CT scanner, on-site pharmacy and impressive dining options.

We are excited to welcome UCHealth Broomfield Hospital and look forward to watching them grow as a major health provider in our community.

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