To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources;
Kelly Folks, Division Manager, Arapahoe/Douglas Works!
Prepared By:
prepared
Patrick Holwell, Workforce Economist, Arapahoe/Douglas Works!
end
presenter
Presenter: Kelly Folks, Division Manager; Stephanie Mufic, Business Services Supervisor; Patrick Holwell, Workforce Economist, Arapahoe/Douglas Works!
end
Subject:
title
10:30 AM *Economic Development in Arapahoe County
end
Purpose and Request:
recommended action
The purpose of the session is to inform the Arapahoe County Board of County Commissioners regarding the County's return on investment from economic development in Arapahoe County.
end
Background and Discussion:
In 2020, the Arapahoe County Board of County Commissioners contributed $355,000 to various Chambers of Commerce and Economic Development entities in the County. Chambers of Commerce generally serve their members through education and networking opportunities, and Economic Development partners attract new businesses, help existing businesses expand, and retain existing businesses. Since 2011, Arapahoe/Douglas Works! has helped the Arapahoe County Board of County Commissioners assess the return on investment from the economic development partners who receive these aforementioned contributions from the County.
Fiscal Impact:
Historically, the County has contributed funding to external Economic Development organizations. In 2020, recipients were the Aurora Economic Development Council ($105,000), the Denver South Economic Development Partnership ($70,000), and the I-70 Regional Economic Advancement Partnership (REAP) ($30,000). In addition, several Chambers of Commerce received contributions; these include: Aurora ($47,000), South Metro ($88,250), Glendale ($10,000), and the I-70 Corridor ($300). Moreover, an additional discretionary contribution was made for $4,450.
Alternatives:
Return on investment from the $355,000 in contributions...
Click here for full text