Type of Meeting: Administrative Matters

Name of requestor: Jacob Castillo, Economic Development Director, 498-6605 with Mike O'Connell, Executive

Director of the Larimer Small Business Development Center

Department: Economic Development

Preferred appearance date: 6/28/2016 Time required: 15

Date decision needed: 6/28/2016

Objective: Larimer Small Business Development Center's performance review for 2015 and funding request for

2016

Situation: Small businesses are the backbone of the local and national economy. Nationally, they represent

over 99% of all employer firms, over 50% of all private sector employees, and have created 64% of net new

jobs over the past 15 years. The impact of small business on the local economy mirror national statistics.

Recognizing the importance of a vibrant small business community in Larimer County, it is critical that we

continue to support the development of new businesses and growth of our existing firms in the region. The

County's Economic Development Department sees the Larimer SBDC as key partner and valuable resource for

small businesses within Larimer County.

Proposal: The Larimer County Economic Development Department strives to improve economic outcomes and

increase output through mutually beneficial partnerships with organizations in the region. The Larimer SBDC is

a key component of the small business support system in Larimer County and valuable partner in economic

development activities. The Larimer SBDC is requesting $20,000 from the Economic Development Partnership

Fund to support expanded programming and outreach to businesses in Larimer County.

Advantages: By providing financial support to the Larimer SBDC, the County helps foster the creation of new

businesses and helps to facilitate the growth of existing firms in the County. Enhanced economic activity drives

new tax revenue to the County, generates net new wealth in the economy, and supports job creation for

citizens of Larimer County. Moreover, by partnering with the SBDC, Larimer County is able to leverage federal

and state resources to create larger economic impact, while maintaining a lean Economic Development

Department.

Disadvantages: If the funding request is approved, the Economic Development Partnership Funds could not be

used for other activities.

Requested action: The Economic Development Department respectfully requests that the Board of County

Commissioners approves the funding request of $20,000 for the Larimer Small Business Development Center

to support economic development and small business development in Larimer County.

Potentially Affected Interest: Larimer County Government, The Larimer Small Business Development Center,

Front Range Community College, The Colorado Small Business Development Center, The Colorado Office of

Economic Development & International Trade, Small Businesses in Larimer County, Entrepreneurs in Larimer

County, the Workforce of Larimer County, Residents of Larimer County, The economy of Northern Colorado.

Level of Public Interest and Participations: Moderate

Audio/Visual/Computer Needs: Computer with Microsoft PowerPoint, USB port, Projector, Screen.

High Quality Training

Free Confidential Consulting

Connection to

Resources

Who We Are & What We Do

Helping local businesses start, grow and prosper

through street-smart

business education and

assistance.

www.LarimerSBDC.org

Program Plan Actual %

Consulting Hours 2,500 2,480 99.2%

Trainings/Workshops Outside FC

6 6 100%

SBDC Advanced –Clients

5 9 180%

www.LarimerSBDC.org

Larimer County 2015 Scope of Work

Program Plan Actual %

Attend Remote Outreach Meetings

4 3 75%

Success Story Promoted 4 4 100%

Business Education

Outreach and Networking

Program Plan Actual %

New Business Starts 15 23 153%

Capital Formation $1,550 K $6,586K 425%

Client Sales Growth $2,600 K $9,080 K 349%

Jobs Created/Retained 190 558 294%

www.LarimerSBDC.org

Larimer County 2015 Scope of Work

Economic Impact

• Disaster recovery grants

• 58 businesses, $2.1M total awards

• $36K average per business

• 60% of total state awards!

• Expansion for upcoming road closure

www.LarimerSBDC.org

“Recover Colorado”

Owner: Kelsey Schwager

• Converted historic Sheldon House to unique hostel in Old Town, Fort Collins

• Received accounting, marketing and operations assistance from SBDC

Fernweh Inn & Hostel

www.LarimerSBDC.org

Owner: Tina Mooney

• Artisan cheese and meat shop in mid-town Fort Collins

• Learned how to listen to customers from SBDC courses and consulting

The Fox & the Crow

www.LarimerSBDC.org

Owner: Diane Muno

• Owns 5 Estes Park retail businesses

– The Spruce House

– The Christmas Shoppe

– White Orchid

– White Orchid Bridal

– Liz & Jo’s

• Persevered through disaster assistance grants to grow her businesses

The Spruce House & More

www.LarimerSBDC.org

Owner: Kami Bowker

• Home cleaning and organizing business started with the intention of making her car payments

• 1,100% growth in year one, an additional 226% in year two

Ragamuffin Cleaning & Organizing

www.LarimerSBDC.org

www.LarimerSBDC.org

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

2013 2014 2015

Minimum Acceptable Standard New Business Starts

Client Sales Jobs Created

Jobs Retained Capital Formation

Larimer SBDC - % of Statewide SBDC

• Launch Small Manufacturers AdvantEDGE (SMA) program to assist local manufacturers

• Womens Business Conference, Thursday Nov 3rd in Loveland

• Execute Larimer County SOW

www.LarimerSBDC.org

Major 2016 Initiatives:

• 2015 Actual - $20K

• 2016 Request - $20K

Thanks for your consideration!

www.LarimerSBDC.org

Larimer County - SBDC Sponsorship Request