2014 Strategic Plan

Arvada Economic Development Association (AEDA) 2014 STRATEGIC PLAN

 

Business Growth and Stability (Business Retention)

Provide business resources, financial assistance and ombudsman services to existing businesses so they can grow and expand to create jobs and make capital investments.

  • $50 million[1] in new commercial private sector capital investments.
  • 150 new jobs[2] created in urban centers and corridors.
  • 100 new non-retail jobs2 created in the following targeted industries: medical, manufacturing, research and development, bio-science, energy, enabling technologies, professional services. 
  • Create a data baseline so that by year end 2015, 97% of businesses with 50 or more employees will be retained annually.
  • Create a data baseline so that by year end 2015, 80% of non-home based businesses under 50 employees will be retained annually.
  • Total commercial vacancy rate[3] in Arvada will be 25% below the Denver metro area vacancy rate.
  • Conduct 30 retention visits.

New Business Development (Business Attraction)

Provide project facilitation services to new businesses so they can locate in Arvada, create jobs, make capital investments and generate additional revenues for the City.

  • $50 million1 in new commercial private sector capital investments.
  • 150 new jobs2 created in urban centers and corridors.
  • 100 new non-retail jobs2 created in the following targeted industries: medical, manufacturing, research and development, bio-science, energy, enabling technologies, professional services. 
  • $250,000 in sales tax revenues generated by new retail businesses.
  • 50 new commercial business prospects
  • 20 new business and/or development project facilitations.

Marketing

Provide tools, education and resource awareness services to new businesses, existing businesses and strategic partners so they can access economic development services.

  • 100% of existing Arvada businesses contacted in at least two ways.
  • 100% of new Arvada businesses are made aware of AEDA services with 60 days of business license issuance.
  • 300 additional social media followers on AEDA-exclusive social media outlets.
  • 100 Arvada clients access Jefferson County Business Resource Center (JCBRC)

Strategic Alliance (Partnerships)

Provide leadership, financial and consultation services to strategic partners so they can leverage shared resources to advance Arvada’s economic development goals.

  • 30 new Arvada prospects generated by strategic partners.
  • 50% strategic partnerships (representations[4]) which require active AEDA participation

[1] Combined grand total of all capital investments for Business Growth and Stability and New Business Development programs. (Includes investments for buildings, furniture, fixtures, equipment, etc. as reported by building and finance divisions.)

[2] Combined total of all new jobs for Business Growth and Stability and New Business Development programs. (Note: Businesses may appear and be counted in both categories for result measurements.)

[3] Defined as office, industrial, and retail.

[4] Defined as receiving funding, staff time, referrals or organization awareness through AEDA.