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2017/ INVESTOR PARTNER REPORT
MARKET
The Region’s Competitive Advantages to Promote Business Attraction/Retention
FACILITATEPrivate Business Job Growth and Investment
CONNECT
Government/Private Sector to Improve Capacity for Economic Development
ADVOCATE
On Behalf of Our Customers and Clients
Hans Jespersen, ChairVice President of Vestas Blades America
Paul Knapp, Vice ChairGreeley Branch President for Bank of Colorado
Wendy Sparks, TreasurerChair Operating Officer for Banner Health Medical Center
Tom HarenOwner and President of AGPROfessionals, LLC.
Jason BrancelChair Executive Officer at Agfinity Inc.
Mike FreemanWeld County Commissioner
Steve MorenoWeld County Commissioner
Mike FinnCouncil Member for the City of Greeley
Roger KnophOwner of EnviroTech Services
Matt LeCerfTown manager for the Town of Frederick
Kristie MelendezMayor of the Town of Windsor
Tom NortonMayor for the City of Greeley
Robert SchutziusRelationship Development and Strategy Manager at Anadarko Petroleum Corp.
2017/ UPSTATE COLORADO BOARD OF DIRECTORS
UPSTATE COLORADO STAFF:
SPECIAL THANK YOU TO OUR OUTGOING BOARD MEMBERS:
Richard C. WernerPresident & CEO
Cathy Schulte
Vice President & EZ Administrator
Ray Knapp
Chief Financial Officer & RLF Director
Rachel Carnes
Community Support Coordinator
Stephanie Moehlenpah Grants Coordinator
Barbara KirkmeyerWeld County Commissioner
Kent Brown
Town Administrator for theTown of Milliken
Mike Hart
Town Administrator for the Town of Berthoud
822 7th Street / Suite 550Greeley, CO 80631
Phone (970) 356-4565 Fax (970) 352-2436
www.upstatecolorado.org
/Ground-breaking ceremony for Agilent Technologies’ new pharmaceutical manufacturing facility in Frederick
At Upstate Colorado, we envision a region with a healthy and sustainable
economy that creates wealth, preserves the quality of life, and improves the
standard of living for area residents. Our mission focuses on facilitating and
attracting investment, creating new job opportunities, stimulating income
growth, and expanding the local community tax base.
1/
Economic Data Dissemination
Working with key partners, we continue to develop/maintain and disseminate economic data on Weld County and Northern Colorado. We provide in-depth labor/demographic information, primary employer data, municipal overviews, business assistance programs, etc. Marketing materials include: Weld County Overview, Recent Economic Development Highlights, Weld County “On the Map” Rankings, Weld County Demographic/Economic Profile and Weld County Business Assistance/Incentive Summary, etc.
2/
Targeted AdvertisingWe advertised Weld County and the Northern Colorado region in the 2016 BizWest ‘Boulder/Northern Colorado Market Facts’ publication with a circulation of 7,000+.
3/
Site Selector Contacts
Upstate marketed the benefits of doing business in Weld County and Northern Colorado to numerous national site consultants via co-hosting of the Metro Denver Economic Development Council Site Selection Conference in September and attendance at the National Industrial Asset Managers Conference in September. These activities include one-on-one meetings with national site consultants.
/Johnstown, CO
UPSTATE MARKETING SERVICES
2017/ WELD COUNTY DEMOGRAPHICSSNAPSHOT
Population . . . . . . . . . . . . . . . . . . . . . .284,876Labor Force . . . . . . . . . . . . . . . . . . . . . 147,984Unemployment Rate . . . . . . . . . . . . . . . . 3.8%Median Age. . . . . . . . . . . . . . . . . . . . . . . . . 33.9Per Capita Personal Income . . . . . . . $42,787
Household Income . . . . . . . . . . . . . . .$69,434HS Diploma+ . . . . . . . . . . . . . . . . . . . . . .87.1%Average Annual Wage . . . . . . . . . . . . .$46,614
Key Industry Sectors:Manufacturing
Agriculture
Energy Production
Health & Wellness
GRP: $10.6 Billion*most recent published annual statistics
4/
COMPANY ATTRACTION ACTIVITY
In 2016, 68% of the 87 new business opportunities worked by Upstate came directly from companies, site selection consultants/realtors and/or marketing and outreach efforts.
1/
LEAD DEVELOPMENT/PROSPECT MANAGEMENT
2/
BUSINESS RETENTION/EXPANSION EFFORTS
3/
WELD ENTERPRISE ZONE (EZ) MARKETING/ADMINISTRATION
4/
FINANCE PROGRAM MARKETING/ADMINISTRATION
5/
DISASTER RECOVERY GRANTS (CDBG-DR)
Business Lead Management & Distribution
Business leads come directly from companies, state/metro partners, site selectors, etc. We blindly distribute these leads to our local partners (communities, real estate agents, utilities, etc.), search real estate data bases and manage/package the overall response including real estate opportunities, county overview, labor info, local/state incentive overview, etc.
Coordinate Site ToursIncluding brokers, owners and community reps, as warranted.
Location Proposal Development
When a Weld location makes an initial cut, as warranted and based upon specific project parameters, we coordinate development of a comprehensive location proposal including: estimates of potential Community/County/State incentives, application/approval procedures, labor information, in-depth tax information, etc.
Working with our community partners, we continue efforts to contact key Weld employers. In 2016, Upstate had contact with 51 existing employers of which 23 (45%) had expansion projects or needs that received in-depth assistance.
We market the state income tax benefits of the EZ to companies looking at locating/expanding throughout Weld. We certify company eligibility, assist companies in claiming tax credits, certify individual and business contributions to eligible non-profit projects helping to
improve zone conditions and complete all state reporting. In 2016, we pre-certified 848 companies making them eligible to claim EZ credits, as eligible. We certified 135 companies who collectively created 898 new jobs, retained 9,919 jobs, invested $196.6 million and
earned $3.4 million in state income tax credits. We also certified 1,784 contributions with a collective value of $1.6 million to 14 approved non-profit organizations /projects. Individual and company contributors collective earned $409,544 in state income tax credits.
Upstate administers the Weld/Larimer Revolving Loan Fund and the Greeley Community Development Fund in an effort to assist business and their lending partners meet company financial goals. In 2016, the RLF funded $400,000 in new loans which created 30 new jobs, leveraging $150,000 local bank funding.
We currently service 10 active loans with balances totaling $2.1 million active load portfolio and 1.9 million available. We assisted and reviewed 4 company finance projects and qualified two for loans in 2016. One remaining project has been approved for $50,000 and closed in early January 2017.
The floods of September 2013 impacted businesses throughout Colorado. To aid in recovery elected officials secured funding from the U.S. Department of Housing and Urban Development. State officials developed programs for flood disaster assistance. Upstate was selected to administer financial oversight and provide business analysis for the Small Business and Tourism Programs. To date, 282 applications have been received, 247 applications have been reviewed by Upstate staff and 175 businesses have collectively been awarded $5.2 million to bolster recovery. In addition, 7 tourism agencies have received $500,000.00.
UPSTATE FACILITATION SERVICES$5.2 MILLION AWARDED
TO 175 BUSINESSES
SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES
Eight companies expanded or announced plans to expand and expect to invest $309 million and create 526 new jobs while retaining 1,478 jobs.$
2016 ACTIVITY SUMMARY
Upstate & our partners worked 87 new leads which included forwarding 515 Weld property brochures. Twenty-two (25%) of these opportunities became active recruitment prospects and 5 have located or announced plans to locate. These companies expect to invest approximately $169.9 million and create 252 new jobs. Work continues in 2017 on three potential projects.
/Promontory – Greeley, CO
/AFT – Firestone, CO
Weld is extremely large with diverse strengths, interests and opportunities that we work to define and capitalize upon. To this effort, we continue the following:
1/
South Weld Economic Development Initiative
Meetings on industry focused resources that support economic development activities in support of South Weld communities.
2/
I-76 Economic Development Corridor InitiativeProvide financial support for the Northeast Corridor Development Expo and Familiarization event in 2016. Work with representatives of I-76 corridor communities to identify individual and collective economic development needs.
3/
Upstate Colorado Leadership Council Programs
Through the “Pitch Deck” program Upstate works to identify and link new/existing Weld employers looking for investor and technical support to local partners. In 2016, one company received financial
support facilitated via Pitch Deck. Through the “Community Site Readiness” program, Upstate awarded three small infrastructure grants with a total value of $30,000 to Milliken, Kersey and Fort Lupton to help identify and facilitate the development of industrial sites.
Private Sector
$135,250/
Community Partners
$81,629/
Public Sector
$253,700/
Grants
$16,800/
Services
$197,664/
Administration
$320,483/
Operating
$114,272/
Grants & Projects
$135,937/
UPSTATE CONNECTION SERVICES UPSTATE COLORADO FINANCIAL SUMMARY / 2016
1/
Private Sector Engagement
Through a leadership structure we cultivate private sector leaders to help identify potential “transformational” change opportunities throughout Weld.
2/
Policy DevelopmentThrough active involvement with the Northern Colorado Legislative Alliance (NCLA) and the Economic Development Council of Colorado (EDCC) we support, monitor/influence issues impacting business. We also assist Weld Communities in developing local incentive policies.
3/
Industry Sector Partnerships Involvement
Upstate continues to serve on the Northern Colorado Manufacturer Sector Partnership.
4/
Energy Proud Steering Committee As a founding member, Upstate joins our partners in energy education and advocation for this critical sector.
5/
WELD WORKFORCE
Through the workforce board, key labor related issues and new opportunities are supported in an effort to insure a viable workforce for all Weld employers.
UPSTATE ADVOCATION SERVICES
SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES
INCOME:
TOTAL INCOME: $685,043/ (100%)
TOTAL EXPENSES: $570,692/ (100%)
EXPENSES:
20% 12% 37% 2% 29%
56% 20% 24%
Private Sector
$135,250/
Community Partners
$81,629/
Public Sector
$253,700/
Grants & Projects
$214,464/
Administration
$320,483/
Operating
$114,272/
Grants & Projects
$135,937/
2016/ UPSTATE COLORADO FINANCIAL SUMMARY
2016/ UPSTATE COLORADO PARTNERS
SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES
INCOME: EXPENSES:
TOTAL INCOME: $685,043/ (100%) TOTAL EXPENSES: $570,692/ (100%)
20% 12% 37% 31% 56% 20% 24%
Upstate Colorado Economic Development is a nonprofit economic development agency serving Weld County and its communities. We thank the below investor partners for their support in 2016!
And all community partners:
Chairman’s Advisors
Vestas America
Weld County
City of Greeley
Leadership Council BNSF Railway
Bank of Colorado
Agfinity, Inc.
Town of Berthoud
Broe Real Estate Services
Aims Community College
Phelps-Tointon
Envirotech Services, Inc.
Banner Health
Xcel Energy
City of Evans
Town of Milliken
AGPROfessionals
Town of Windsor
Anadarko Petroleum
Premier InvestorFirst National Bank
Martin Marietta Materials
City of Fort Lupton
Town of Johnstown
Investor
Town of Platteville
Town of Severance
Town of Mead
Town of Eaton
Town of Hudson
Northern Colorado Commercial Association
City of Dacono
Brighton Economic Development Corp.
Supporter
PV Ironwood LLC
Silicon Ranch
Town of Gilcrest
Town of Nunn
Town of Garden City
Town of Kersey
Town of Ault
Anderson & Whitney
Town of Keenesburg
Town of Lochbuie
Town of LaSalle
Sears Real Estate
/Firestone, CO /Hudson, CO /Greeley, CO /Milliken, CO