Business Journal: Mile High Music Festival expected to skip this year...

By Ricardo Baca, Denver Post

The Mile High Music Festival will not bring the rock this summer.

The annual event will take a hiatus in 2011, promoter AEG Live plans to announce today. The two-day festival brought the Dave Matthews Band, Tom Petty, Tool, Jack Johnson, Widespread Panic and others to Commerce City over the past three years.

AEG is citing economic reasons for the break. "It was not an easy decision to put the festival on hold," said Chuck Morris, president of AEG Live's local offices. "We are really proud of the event, and we're not ruling out the possibility of bringing it back in the future."

FULL STORY: CLICK HERE

Commerce City State of Economics, a Matter of Leakage

According to the recent Retail Coach Report, existing retailers cannot meet the demand of the city’s growing population. The residents of Commerce City are shopping and spending their money in other cities and that is what is known as “leakage”.

How bad is the leakage in Commerce City? It is around $300,000,000 annually. It is time for the city to try and recoup its losses.

This Retail Coach Report is with the Economic Development team in Las Vegas at the ICSC (International Conference of Shopping Centers) to show potential businesses what opportunities are available right here inside the city.

The following is the breakdown of leakage dollars flowing out of the city annually:

$43,000,000 in General Merchandise
$91,000,000 in Radios, TVs and Computers
$19,000,000 in Home Furnishings
$88,000,000 in Eating Places
$59,000,000 in Groceries

According to the Twitter Updates from the team in Las Vegas, all is going well and it is the “Agreement Commerce City is where the growth will happen when the market rebounds…”. Also, “The retail leakage data has been powerful.”

Lets Move Some Dirt in C Town!!!

Commerce City Economic Development Responds to the Commerce City development and business community with the 2010 Incentive Package.

According to Commerce City: "The incentive program was created to: Positively impact all facets of the Commerce City economy; Create jobs and encourage existing businesses to make capital investments; Spur new office, industrial, and residential development and growth; and, Create new retail opportunities that cause the reduction in retail leakage. The package addresses the top incentive needs and desires identified by the Commerce City development and business community."

Incentive Package has deals for everyone including Existing Business, Prospective Business, New Retailer, Existing Retailer, Home builder, Homeowner, Green Businesses and Green Building Practices and Projects of Economic Development Significance.

For FULL Details of the 2010 Incentive Program CLICK HERE

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Mile High Music Festival expected to skip this year...

Commerce City State of Economics, a Matter of Leakage

Lets Move Some Dirt in C Town!!!