A Colorado Municipal League mid-year survey of municipalities reveals 62 percent rate their economic picture as improving. The amount of improvement ranges from slight to strong but the local economies have turned a corner. 30 percent rated their economy as flat, while eight percent said the economic picture was getting worse. Sales tax collections mirror consumer spending. The CML survey shows an average increase in sales tax revenue of 6.5 percent for the first four months of 2011 compared with the same period in 2010. 81 percent of municipalities reported increased sales tax revenue. According to a previous CML survey conducted at the end last year, only a third of municipalities saw a sales tax revenue increase for the year 2010.
Cities and towns work to foster an improved business climate through many activities including tourism promotion, business incubators, streetscape improvements, upgrading infrastructure, buy-local retail campaigns, and a variety of services for small business.
CML President and City of Lakewood Councilmember Diana Allen said, “The investment in economic development that is being made by cities and towns is reaping benefits for our state’s economy. There is no doubt that the road to Colorado’s economic recovery runs right through Main Street.”
Colorado is realizing the dividends of that investment:
• A Leprino Cheese processing plant and a new headquarters building for Noble Energy are under construction in the City of Greeley
• Halliburton is beginning work on a new City of Fort Lupton facility that will double its employment figures
• A travel center that includes two new restaurants is being built in the Town of Bennett
• The City of Fort Morgan will build on strong 2011 sales tax numbers with the opening of two additional retail stores this summer
• Microsoft has renovated a downtown Boulder building to expand its Colorado footprint
• The newly constructed Rocky Mountain Repertory Theater opened last month in the Town of Grand Lake
• The City of Littleton is close to groundbreaking on a 280 unit multi-family residential complex
• A heavy equipment engine reconstruction business has opened in the City of Commerce City creating several dozen jobs
• Thirsty travelers will soon be able to take advantage of a new distillery in the Town of Buena Vista
Cities and towns are deeply involved in economic development – supporting the viability and expansion of existing business and encouraging the creation of new business and jobs in their communities.
The survey results are based on responses 63 Colorado municipalities, large and small, representing all regions of the state.
