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HomeMy WebLinkAbout2022 Resolution No. 0351 RESOLUTION NO. 35 SERIES OF 2022 A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT STRATEGIC PLAN WHEREAS, the City of Englewood (the “City”) has retained Economic and Planning Systems to prepare a comprehensive Economic Development Strategic Plan (the “Plan”) to serve as a ten-year guide to position the City on a continued path of a resilient, sustainable and vibrate economy that allows people of all backgrounds and incomes to live, work, visit and thrive in the City; and WHEREAS, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does and why it performs the services and/or programs it does; and WHEREAS, there are numerous benefits to strategic planning, including: organizations can increase effectiveness and efficiency, improve understanding through better learning, make better decisions, enhance organizational capabilities, improve communications and public relations as well as increase political support; and WHEREAS, in connection with direction provided by City Council, City staff and Economic and Planning Systems have prepared the Plan to define the role of the City in economic development; and WHEREAS, the Plan includes recommended economic development initiatives and actions to be implemented by the City and its economic development partners in order to position the City on a continued path of a resilient, sustainable and vibrate economy that allows people of all backgrounds and incomes to live, work, visit and thrive in the City; and WHEREAS, the Plan is consistent with the economy goals section of the City of Englewood Strategic Plan and identifies specific opportunities to implement these strategies; and WHEREAS, the City Council has reviewed the proposed Plan including the strategic goals and strategic initiatives, as outlined in the attached documents. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO, AS FOLLOWS: Section 1. The City Council of the City of Englewood, Colorado, hereby approves the adoption of the “Economic Development Strategic Plan,” attached hereto. Section 2. The Mayor, Mayor Pro Tem (in the Mayor’s absence), and/or City staff are hereby granted the authority to take all actions necessary to implement the provisions of Section 1 above. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 2 ADOPTED AND APPROVED this 7th day of November, 2022. Othoniel Sierra, Mayor ATTEST: Stephanie Carlile, City Clerk I, Stephanie Carlile, City Clerk for the City of Englewood, Colorado, hereby certify the above is a true copy of Resolution No. 35, Series of 2022. Stephanie Carlile DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Final Report Economic Development Strategic Plan Prepared for: City of Englewood, Colorado Prepared by: Economic & Planning Systems, Inc. EPS #213174 October 27, 2022 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Table of Contents Introduction ................................................................................... 1 Purpose ............................................................................................. 1 What is Economic Development? ........................................................... 1 The Englewood Context ....................................................................... 2 Plan Organization ................................................................................ 2 Englewood City Profile ..................................................................... 3 Demographics and Housing .................................................................. 3 Englewood Economy............................................................................ 5 Englewood Commercial Real Estate ....................................................... 8 Comparison Communities................................................................... 11 Economic Development Structure ................................................... 17 Englewood Economic Development ...................................................... 18 Economic Development Programs ........................................................ 21 Peer City Economic Organizations ........................................................ 25 Strengths/Weaknesses/Opportunities .............................................. 31 Public Input and Outreach .................................................................. 31 Strengths and Weaknesses................................................................. 32 Opportunities ................................................................................... 34 Strategies and Actions ................................................................... 37 Vision Statement .............................................................................. 37 Strategies and Actions ....................................................................... 37 Action Plan................................................................................... 53 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 List of Tables Table 1. Population and Housing Units, 2010-2021 ................................................ 3 Table 2. Housing Tenure Trends, 2010-2021 ......................................................... 3 Table 3. Housing Units by Type, 2010-2021 .......................................................... 4 Table 4. Household Demographics, 2010-2021 ...................................................... 4 Table 5. Englewood Age Distribution, 2010-2021 ................................................... 5 Table 6. Wage and Salary Jobs by Industry, 2010-2019 ......................................... 6 Table 7. Commercial Real Estate Metrics, 2021 ..................................................... 9 Table 8. Commercial Real Estate Inventory Trends, 2010-2021 ............................. 10 Table 9. Comparison Community Size, 2021 ....................................................... 11 Table 10. Population Trend Comparison, 2010-2021 .............................................. 11 Table 11. Household Income and Housing Price Comparison ................................... 12 Table 12. Demography Trend Comparison, 2010-2021 ........................................... 14 Table 13. Job Growth Comparison, 2010-2019 ...................................................... 15 Table 14. Three Largest Industries by Community, 2019 ........................................ 15 Table 15. Commercial Real Estate Comparison, 2021 ............................................. 16 Table 16. Regional and Other Partner Organizations .............................................. 24 Table 17. Peer City Economic Development Programs ............................................ 26 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 List of Figures Figure 1. Change in Jobs by Major Industry Group, 2010-2019 ................................. 6 Figure 2. Number of Business by Size, Englewood (80110 and 80113 Zip Codes) ........ 7 Figure 3. Housing Tenure Comparison, 2021 ........................................................ 12 Figure 4. Housing by Type Comparison, 2021 ....................................................... 13 Figure 5. Population by Age Comparison, 2021 ..................................................... 13 Figure 6. Englewood Community Development Organization Chart .......................... 18 Figure 7. Englewood DDA Boundary .................................................................... 20 Figure 8. Economic Development Organizational Structure ..................................... 47 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 213174_Final Englewood EDS 10-27-22 1 Introduction Purpose This Economic Development Strategic Plan was prepared for the City of Englewood to guide the City’s economic development programs, policies, and allocation of resources for the next 5 to 10 years. It also recommends roles for the City and its economic partner organizations to implement the recommended strategies. What is Economic Development? Economic development uses policies, strategies, and actions to grow and sustain an economy. Economic development builds personal wealth, supports businesses, and strengthens a local government’s tax base needed to fund services and community infrastructure. There is no single right approach to economic development. Communities use the approach best suited to their needs and their economic context, and many use elements of several approaches. The three main economic development approaches are summarized below. • Recruitment and marketing – Business recruitment and marketing is what many people associate with economic development. This approach allocates resources to marketing a place to prospective firms and often competing with other places to recruit them. It requires a large budget for incentives programs, travel, and event and conference attendance. • Business support and retention – This approach prioritizes supporting and growing local businesses. The emphasis is on growing from within the community’s assets rather than attracting businesses from outside. • Place-based economic development – Place-based economic development is a broad approach that recognizes the importance of community infrastructure in creating an environment that attracts businesses: neighborhoods, housing, schools, clean and safe streets, transportation, and physical infrastructure. Many communities use elements of all three approaches based on their needs and current opportunities. This Plan recommends a balance of all three approaches, with the most emphasis on local business support, infill and redevelopment, and place-based economic development. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 2 The Englewood Context Englewood is a first ring suburb adjacent to the City and County of Denver on its northern border. Englewood, like its neighbors, is largely built out with few large vacant development sites. Englewood has a mix of pre- and post-World War II development ranging from compact single family neighborhoods to low density automobile-oriented commercial corridors including South Broadway and Hampden Avenue. Englewood’s development pattern is important to consider in this Economic Development Strategic Plan. Communities with more “greenfield” sites and capacity to grow are often more active in recruiting and incentivizing major employers and retailers. In contrast, communities with fewer large development opportunities shift their approach to business support and retention. Redevelopment also becomes important in the absence of large greenfield development sites. Redevelopment sites offer opportunities to shift the existing development pattern and economy to support its growth and evolution. A theme that was repeated in the public outreach for this Plan was Englewood’s small-city character with nearby big city amenities. Businesses noted that Englewood is small enough where a small business can have a positive impact on the community, and business owners and employees can feel like they are part of the community. At the same time, the City is big enough and centrally located, making it a desirable place to run a business because of the access to customers. Plan Organization This economic development strategic plan is divided into six chapters including this Introduction. 1. Introduction 2. City Profile – A summary of demographic and economic trends in Englewood and a set of comparison communities. 3. Current Economic Development Structure – Describes the organizations involved in economic development in Englewood. 4. Strengths/Weaknesses/Opportunities – Summarizes public and business input that informs the recommended strategies and actions. 5. Strategies and Actions – Provides recommended strategies and actions for the City and its partners. 6. Action Plan – Lists a set of action items prioritized into short range (0-2 years), medium range (3-5 years), and long range (6-10+ years) time periods. Lead and partner organizations are also suggested for each action. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 213174_Final Englewood EDS 10-27-22 3 Englewood City Profile This chapter provides an overview of economic and demographic conditions in Englewood, presented in three major sections: demographics and housing, economy, and commercial real estate. The data includes statistics from 2010 through 2021 for an evaluation of current conditions and long-term trends. Demographics and Housing In 2021, Englewood had 33,784 residents and 17,175 housing units as shown in Table 1. Since 2010, Englewood added about 3,300 people or 302 per year at an annual rate of 0.9 percent. The City added just over 1,500 housing units during the same time period at a pace of approximately 140 per year, which was also a 0.9 percent annual growth rate. Table 1. Population and Housing Units, 2010-2021 The demographic characteristics of the population are changing gradually due to an increase in renter households. In 2010, the housing stock was almost equally divided among renters and owners. Since 2010, the City grew by approximately 1,300 renter households and 530 owner households changing the distribution of housing tenure to 46.8 owners and 53.2 percent renters, as shown in Table 2. Table 2. Housing Tenure Trends, 2010-2021 Englewood 2010 2021 Total Ann. #Ann. % Population 30,460 33,784 3,324 302 0.9% Housing Units 15,609 17,175 1,566 142 0.9% Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-Sum 2010-2021 Housing Tenure Trends 2010 2021 Total Annual Ann. % Housing Units Owner Occupied 7,065 7,597 532 48 0.7% Renter Occupied 7,310 8,651 1,341 122 1.5% Total Occupied Units 14,375 16,248 1,873 170 1.1% Percent of Total Owner Occupied 49.1%46.8%-2.4%- - Renter Occupied 50.9%53.2%2.4%- - Total 100%100%- - - Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D.xlsx]T-Tenure (3) 2010-2021 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 4 More diverse types of housing are being built in Englewood than in the past. In 2010, 60 percent of the housing stock was single family detached homes, 35 percent was multifamily and about 5.4 percent were in single family attached units (townhomes) and mobile homes, as shown in Table 3. New housing units from 2010 through 2021 were comprised of 59 percent single family detached, 35 percent multifamily, and 6.5 percent attached single family (townhomes and mobile homes). This construction pattern reflects the infill environment of the city where land values are increasing, and higher densities are needed to make housing development feasible. Table 3. Housing Units by Type, 2010-2021 In 2010, the median household income in Englewood was $42,416, the median home value was $213,800, and the average household size was 2.07 as shown in Table 4. From 2010 through 2021 household income increased by 3.4 percent annually to $61,589. During this period, median home value grew by over two- fold, increasing from $213,800 to $435,852. Housing became more expensive compared to household income during this time. The percentage of income devoted to mortgage payments increased from 21 percent in 2010 to 30 percent in 2021. Note that these income figures are demographic statistics and differ from program qualifying incomes published by HUD and the Colorado Housing Finance Authority (CHFA). Table 4. Household Demographics, 2010-2021 Housing by Type 2010 % Total 2021 %Total Total Annual Ann. % Single Family Residence 9,383 60.1%10,088 58.7%705 64 0.7% Attached (2-4 Units)675 4.3%913 5.3%238 22 2.8% Multifamily 5,403 34.6%5,971 34.8%568 52 0.9% Mobile Homes 148 0.9%203 1.2%55 5 2.9% Source: U.S. Census; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Data\T-Htype 2010-2021 `` Household Statistics 2010 2021 Total Annual Ann. % Median Household Income $42,416 $61,589 $19,173 $1,743 3.4% Median Home Value $213,800 $435,852 $222,052 $20,187 6.7% Household Size 2.07 2.08 ------ Percent of Income for Mortgage 21%30%------ Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-HH (2) 2010-2021 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 5 Englewood’s population is aging slightly, with an increase in the median from 37.2 to 39.1 from 2010 through 2021 as shown in Table 5. The population in most age groups under 55 decreased while the population over 55 increased. Table 5. Englewood Age Distribution, 2010-2021 Englewood Economy Available job data lags the demographic data presented above by two years. In 2019, Englewood had approximately 24,980 wage and salary jobs (not including sole proprietors), as shown in Table 6 and Figure 1. From 2010 through 2019, 2,900 jobs were added in the City at an annual rate of 1.4 percent. Retail, Leisure, and Hospitality sectors had the largest amount of growth, adding 1,176 jobs. This is an industry often comprised of small businesses. Construction was the next largest growth sector, adding just under 1,000 jobs. Wholesale Trade, Transportation, and Utilities added 677 jobs and Education and Health Services added just over 600 jobs but remained the largest sector by far. Professional and Business Services was the only industry with major losses between 2010 and 2019, shrinking by almost 600 jobs related to the relocation of First Data Corporation from Englewood to the Meridian Business Park on County Line Road in Douglas County. Age Range 2010 2021 Change Median Age 37.2 39.1 1.9 0-4 6.4%5.4%-1.0% 5-9 4.7%5.2%0.5% 10-14 4.4%4.8%0.4% 15-24 12.5%10.8%-1.7% 25-34 18.8%17.2%-1.6% 35-44 13.8%14.8%1.0% 45-54 15.6%12.4%-3.2% 55-64 11.3%13.1%1.8% 65-74 5.5%8.9%3.4% 75-84 4.1%4.5%0.4% 85+ 2.8%2.8%0.0% Source: ESRI, Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D .xlsx]T-Age2 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 6 Table 6. Wage and Salary Jobs by Industry, 2010-2019 Figure 1. Change in Jobs by Major Industry Group, 2010-2019 Jobs by Industry 2010 2019 Total Ann. #Ann. % Education and Health Services 6,704 7,308 604 67 1.0% Retail, Leisure, and Hospitality 3,308 4,484 1,176 131 3.4% Professional and Business Services 4,301 3,729 -572 -64 -1.6% Construction 2,359 3,358 999 111 4.0% Wholesale Trade, Transportation, and Utilities 1,840 2,517 677 75 3.5% Manufacturing 2,306 2,344 38 4 0.2% Financial Activities 967 1,149 182 20 1.9% Information 118 80 -38 -4 -4.2% Natural Resources and Mining 94 9 -85 -9 -22.9% Government 49 2 -47 -5 -29.9% Total Jobs*22,046 24,980 2,934 326 1.4% *Work Area metrics Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D.xlsx]T-JobsOcc 2010-2019 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 7 Most business in Englewood are small. As shown in Figure 2, 86 percent of businesses are under 20 employees. These data reinforce the recommendations that the economic development focus should be on business support and retention, and fostering business startups. Figure 2. Number of Business by Size, Englewood (80110 and 80113 Zip Codes) 52.8% 18.3%14.8%9.0%2.9%2.0%0.2% 0 200 400 600 800 1,000 1,200 1,400 Less than 5 employees 5 to 9 employees 10 to 19 employees 20 to 49 employees 50 to 99 employees 100 to 249 employees 250 to 499 employees Number of Firms by Size, Zip Codes 80110 and 80113, Englewood, 2021 Source: US Census;Economic & Planning Systems [link to source] DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 8 Englewood Commercial Real Estate Industrial property makes up the largest amount of nonresidential development by building area in Englewood with 7.8 million square feet, which is more than twice the space of all other categories as shown in Table 7. Within the industrial category, warehouse space accounts for most of the total square footage in Englewood, with 5.3 million square feet. Industrial rents are approximately $11.00 per square foot with tenants paying all operating expenses in most cases. The supply of space is tight as exhibited by the 3.7 percent vacancy rate. Englewood’s industrial space dates largely from the 1950s through 1970s and has many buildings that are becoming functionally obsolete by modern standards. Despite their advancing age, these buildings have a role as they are lower cost than new space and still can meet the needs of small firms. Englewood is not competitive with the types of large high ceiling new warehousing facilities being built in east Denver and Aurora, nor is it recommended that Englewood pursue these types of businesses. Industrial properties with low value and low employment density (few employees on a large site) are increasingly under pressure for redevelopment to housing. As discussed in the recommended strategies, the City should identify where industrial space should be preserved and develop business retention strategies for those areas. Retail is the next largest category of space with approximately 3.1 million square feet. Freestanding retail buildings make up the largest amount of space with 749,392 square feet, mostly comprised of big- and mid-box stores in the CityCenter and Hampden Avenue areas. Storefront space makes up 570,235 square feet in smaller buildings, and there are approximately 170,100 square feet of restaurant space. Retail vacancies are higher, averaging 12.2 percent, influenced by the vacancies primarily along Englewood Parkway and to a lesser extent the vacancies along Broadway south of Hampden. Retail rents average $23.40 per square foot. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 9 Table 7. Commercial Real Estate Metrics, 2021 Office space comprises approximately 2.1 million square feet of the nonresidential retail estate inventory. Within the office space sector, medical office accounts for 39 percent of the inventory or almost 800,000 square feet. There are another 45,000 square feet of office live/work and loft/creative office space in the inventory. The average vacancy rate is 12.3 percent for all office space and rents average $21.05 per square foot. Loft/creative space has higher vacancies, at 33.3 percent but represents a small amount of space. Average Sqft. Englewood Total Sqft.Building Size Per Capita Vacancy Rate Average Rent Industrial 7,753,133 16,254 229 3.7%$11.12 Manufacturing 1,662,537 26,815 49 5.6%$11.02 Warehouse 5,258,112 13,910 156 3.5%$11.04 Other 832,484 22,500 25 2.7%$12.10 Retail 3,091,411 8,222 92 8.6%$23.54 Restaurant 170,091 10,005 5 12.2%$23.40 Storefront 570,235 5,879 17 7.4%$22.26 Freestanding 749,392 9,029 22 11.2%$24.06 Other 1,601,693 8,948 47 7.8%$24.05 Office 2,031,759 14,723 60 12.3%$21.05 Medical 795,587 24,862 24 14.9%$25.99 Loft/Creative Space 29,670 9,890 0.9 33.3%$21.11 Office Live/Work Unit 14,650 2,093 0.4 14.3%$18.70 Other 1,191,852 12,415 35 10.7%$19.60 Source: Costar, Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-RE2 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 10 Most of the growth in nonresidential space over the last decade has been in retail, as shown in Table 8. From 2010 through 2021, retail space grew by 134,000 square feet while office space grew by only 42,000 square feet. The amount of industrial space declined as properties were redeveloped into transit-oriented development (TOD) housing near Oxford Station. Table 8. Commercial Real Estate Inventory Trends, 2010-2021 Description 2010 2015 2021 Total Ann. # Industrial 9,193,466 9,179,062 9,120,763 -72,703 -6,609 Manufacturing 1,723,810 1,723,810 1,682,541 -41,269 -3,752 Warehouse 6,513,220 6,497,516 6,473,986 -39,234 -3,567 Retail 3,061,133 3,136,523 3,195,559 134,426 12,221 Restaurant 1,310,540 1,308,283 1,310,604 64 6 Storefront 1,458,202 1,454,172 1,454,172 -4,030 -366 Freestanding 1,873,872 1,884,316 1,900,681 26,809 2,437 Office 1,952,873 1,899,895 1,994,854 41,981 3,816 Medical 689,216 676,886 771,485 82,269 7,479 Source: Costar, Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Data\CoStar\[Englewood Office Historical.xlsx]Sheet12 2010-2021 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 11 Comparison Communities This section provides demographic and economic data to compare Englewood to five other suburban cities in Metro Denver: Arvada, Golden, Littleton, Northglenn, and Wheat Ridge listed in Table 9. Golden, Northglenn, and Wheat Ridge are similarly sized while Littleton is adjacent to Englewood to the south. Each are mature communities with little remaining vacant land. Table 9. Comparison Community Size, 2021 Demographics Each community is growing slowly as they are mature landlocked areas, with annual growth rates under 1.0 percent except for Arvada as shown in Table 10. Arvada has growth areas on its west side but is also adding residential density to the Old Towne Arvada area in redevelopment projects. Englewood and Golden had the highest growth rates, except for Arvada, at 0.9 percent per year. Englewood and Littleton are however growing at about the same pace. Table 10. Population Trend Comparison, 2010-2021 Total Housing City Units Englewood 30,460 17,175 Arvada 124,956 50,983 Golden 20,775 8,275 Littleton 46,673 21,847 Northglenn 36,822 14,489 Wheat Ridge 31,895 15,425 Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-Div Total Population City 2010 2021 Total Ann. #Ann. % Englewood 30,460 33,784 3,324 302 0.9% Arvada 107,649 124,956 17,307 1,573 1.4% Golden 18,903 20,775 1,872 170 0.9% Littleton 42,560 46,673 4,113 374 0.8% Northglenn 35,597 36,822 1,225 111 0.3% Wheat Ridge 29,852 31,895 2,043 186 0.6% Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-Pop 2010-2021 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 12 As of August 2022, the median single family home price in Englewood was $617,500, as shown in Table 11. Home prices are similar in Englewood, Arvada, Littleton, all of which are in the low to mid $600,000 range. The median price in Wheat Ridge is just over $700,000 and highest in Golden at $900,000. Each of these communities are located west of I-25 and in Jefferson County, except for Englewood which is in Arapahoe County. Northglenn has the lowest home prices, with a median of $489,980. Table 11. Household Income and Housing Price Comparison Englewood has the highest percentage of renter households, at 53 percent, while Arvada has the lowest percentage at 29 percent as shown in Figure 3. Wheat Ridge is most similar to Englewood in housing tenure with approximately 50 percent renters and 50 percent owners. Golden and Northglenn are also similar to each other with about 45 percent renters and 55 percent owners although Golden is influenced by the student population at Colorado School of Mines. Figure 3. Housing Tenure Comparison, 2021 Figure 4 below shows the distribution of housing types in each community in the following categories: single family detached Homes, single family attached homes (duplexes and townhomes), multifamily (apartments, condos), and other (mobile homes and other types). Income and Housing Prices Englewood Arvada Golden Littleton Northglenn Wheat Ridge Median Household Income $61,589 $93,607 $73,290 $84,602 $68,039 $62,742 Household Size 2.08 2.50 2.25 2.23 2.76 2.16 Median Sale Price (Aug. 2022)$617,500 $649,900 $900,000 $687,000 $489,950 $705,000 Home Price : Income Ratio 10.0 6.9 12.3 8.1 7.2 11.2 Source: Denver Metro Assoc. of Realtors; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-HH 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Englewood Arvada Golden Littleton Northglenn Wheat Ridge Housing Tenure, 2021 Owner Occupied Renter Occupied Source: Economic & Planning Systems DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 13 The housing stock mix in each community is similar, with Englewood, Golden, Littleton, Northglenn and Wheat Ridge having approximately 60 to 65 percent single family detached homes and 35 to 40 percent single family attached and multifamily, and other unit types including mobile homes. Arvada stands out as having the least diverse housing stock, with nearly 80 percent single family detached as shown in Figure 4. Having a diverse mix of housing is important in providing opportunities for people at different wage and income levels needed to fill local jobs. Figure 4. Housing by Type Comparison, 2021 Having an available labor force is important to filling jobs. Englewood and Northglenn have the highest percentage of their population in the core working ages of 25 to 44 years, at just over 30 percent as shown in Figure 5. The 45- to 64-year-old age group comprises approximately 25 percent of the population in each area as well. Englewood is aging however, as the median age increased from 37.2 to 39.1. Figure 5. Population by Age Comparison, 2021 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Englewood Arvada Golden Littleton Northglenn Wheat Ridge Share of Housing Types, 2021 Single Family Attached (2-4)Multifamily Other Source: Economic & Planning Systems [link to source] 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% Englewood Arvada Golden Littleton Northglenn Wheat Ridge Population by Age, 2021 Children (0-14)Teen/Young Adult (15-24)Early/Mid Career (25-44) Mid/Late Career (45-64)Seniors (65+) Source: Economic & Planning Systems DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 14 Englewood has the most diverse population of the communities west of I-25 and in the south and west Metro Denver area. In Englewood, the non-white population and Hispanic and Latino population makes up 30 percent of the population as shown in Table 12. Northglenn is the most diverse with 55 percent white non- Hispanic and 45 percent all other races. Each community has become more diverse since 2010. In Englewood, the non-white population grew by 5 percent. These data inform the need for policies on increasing business opportunities for the non-white population. Table 12. Demography Trend Comparison, 2010-2021 Economy Each community experienced job growth from 2010 through 2019. Englewood and Littleton are the most similar, with a 13.0 percent increase in jobs since 2010 as shown in Table 13. Littleton has a larger economy than Englewood, with 31,700 jobs compared to 24,980. The communities that experienced the most job growth were Arvada, Golden, and Northglenn with approximately 20 to 30 percent increases in jobs. These three communities had more available land during this time period to support attracting larger employers and new retail development. The slower growth in built out communities highlights the importance of infill and redevelopment to grow the economy. City 2010 2021 % Change Englewood White Non-Hispanic 75%70%-5% All Other Races and Ethnicities 25%30%5% Arvada White Non-Hispanic 89%80%-9% All Other Races and Ethnicities 11%20%9% Golden White Non-Hispanic 84%82%-2% All Other Races and Ethnicities 16%18%2% Littleton White Non-Hispanic 82%79%-3% All Other Races and Ethnicities 18%21%3% Northglenn White Non-Hispanic 61%55%-6% All Other Races and Ethnicities 39%45%6% Wheat Ridge White Non-Hispanic 74%71%-3% All Other Races and Ethnicities 26%29%3% Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-Demo 2010-2021 DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 15 Table 13. Job Growth Comparison, 2010-2019 Healthcare is a large economic base industry in the suburban communities in Metro Denver, following a trend of hospitals moving out of central urban cores to follow their patient bases and to expand their facilities. Healthcare is among the three largest industries in five of the six communities, as shown in Table 14. Retail trade is also among the three largest industries, which is common as jobs in suburban areas are often concentrated in retail and personal services and less concentrated in manufacturing and professional and business services which locate in major employment nodes (e.g., South I-25) and central business districts (e.g., Downtown Denver). Construction/ building trades is the second largest sector in Englewood, and the third largest in Arvada and Wheat Ridge. Golden is the only community in which manufacturing is among the top three industries, due to the presence of Coors brewing, which is classified as manufacturing, and other small precision manufacturing firms. Table 14. Three Largest Industries by Community, 2019 Description Englewood Arvada Golden Littleton Northglenn Wheat Ridge Total Jobs 2019 24,980 30,856 21,133 31,712 13,456 18,696 Job Growth 13.3%33.4%22.2%12.7%19.8%12.6% Population Growth 10.6%14.4%11.0%9.5%4.7%6.4% Source: U.S. Census; ESRI Business Analyst; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D (version 1).xlsx]T-JobComp Healthcare 6,582 26.3%Retail Trade 5,313 17.2%Manufacturing 3,918 18.5% Construction 3,358 13.4%Accom. & Food Svcs 4,060 13.2%Public Admin.3,644 17.2% Retail Trade 2,781 11.1%Construction 3,505 11.4%Healthcare 1,935 9.2% Total Jobs 24,980 100.0%Total Jobs 30,856 100.0%Total Jobs 21,133 100.0% Healthcare 4,363 13.8%Retail Trade 1,947 14.5%Healthcare 5,693 30.5% Retail Trade 4,280 13.5%Food & Service 1,625 12.1%Retail Trade 2,362 12.6% Finance & Ins.4,027 12.7%Healthcare 1167 8.7%Construction 2,153 11.5% Total Jobs 31,712 100.0%Total Jobs 13,456 100.0%Total Jobs 18,696 100.0% Source: LEHD On The Map; Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Data\[213174 Largest Industry Table.xlsx]T-Ind Northglenn Wheat Ridge Englewood Arvada Golden Littleton DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 16 Commercial Real Estate This section contains commercial real estate statistics for Englewood and its comparison cities to compare the size and performance of the major real estate types. Each community has relatively small office markets, with 1.7 million to 3.5 million square feet of space, except Northglenn which has only 625,000 square feet as shown in Table 15. Englewood has the highest office vacancy rate at 13.0 percent, compared to under 10.0 percent in the other areas except Northglenn. Englewood and Arvada have the largest retail markets, with 3.1 million and 3.45 million square feet, respectively. Littleton’s retail market is only slightly smaller with 2.8 million square feet. As one of the largest retail markets, Englewood’s overall vacancy rate is healthy at under 10.0 percent. Vacant space however is not distributed evenly across Englewood. The newer space in CityCenter has high vacancies, and there are also areas of vacancy on South Broadway south of Hampden. Englewood Marketplace on Hampden Avenue and Englewood Plaza on Englewood Parkway are high visibility shopping centers with above average vacancy rates. Englewood, Golden, and Arvada have the largest industrial markets with 7.8 million square feet in Englewood, 8.3 million in Golden, and 5.0 million in Arvada. Golden has the lowest vacancy rate at 0.3 percent, followed by Englewood at 3.7 percent indicating that industrial space is in high demand. Table 15. Commercial Real Estate Comparison, 2021 2021 Real Estate Metrics Englewood Arvada Golden Littleton Northglenn Wheat Ridge Office Total Sf.2,031,759 1,762,053 2,238,216 3,469,895 624,829 1,730,484 Average Vacancy Rate 13.0%7.6%4.9%9.1%11.1%7.8% Retail Total Sf.3,091,411 3,450,556 955,085 2,806,935 722,121 1,317,815 Sf. Per Capita 92 28 46 60 20 41 Average Vacancy Rate 8.8%10.7%8.1%10.3%14.5%7.4% Industrial Total Sf.7,753,133 5,036,831 8,317,131 1,951,267 1,168,721 2,827,148 Average Vacancy Rate 3.7%7.9%0.3%9.3%4.3%4.9% Flex Total Sqft.593,060 1,116,803 1,798,737 2,269,818 85,977 696,216 Average Vacancy Rate 6.2%3.3%7.5%3.6%0.0%6.3% Source: Costar, Economic & Planning Systems Z:\Shared\Projects\DEN\213174-Englewood Economic Development Strategy\Models\[E&D & RE.xlsx]T-RE DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 213174_Final Englewood EDS 10-27-22 17 Economic Development Structure This chapter describes the organizational structure and partnerships providing economic development in the City of Englewood, as well as the programs and services provided by each organization. Other peer city economic development programs and structures are also described to compare and contrast the range of approaches used. In most markets, a city partners with other public and private organizations in order to promote economic development opportunities. The core areas of economic development generally include: • Business retention and expansion; • New business development; • Business recruitment and marketing; • Providing economic and market data; and • Workforce development. Economic development is a partnership between the public and private sectors. There is no one right or best organizational structure. The roles and responsibilities of the economic development partners should reflect the capabilities and strengths of the economic development partners in each market. The major players generally include: • City • Chamber of Commerce • Economic development corporation and/or other partners • Other districts and authorities • Regional economic development entities marketing the larger region. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 18 Englewood Economic Development Englewood’s economic development programs are led by the City and supported by a core group of local economic development organizations: the Greater Englewood Chamber of Commerce and the Englewood Downtown Development Authority as described below. City of Englewood Within the City, economic development functions are managed by the Economic Development Division of the Community Development Department. Community Development also includes the Redevelopment, Planning, Building, and Housing Divisions as shown in Figure 6. Economic Development Economic Development is comprised of one full time Economic Development Manager and an economic development coordination and administrative position. Economic Development’s main functions are: • Acting as a liaison between businesses and other City departments and a resource to assist with City and other programs. • Reaching out to businesses and property owners to assist with business retention as needed. • Supporting business attraction and business retention functions, largely through the City’s business grant and incentives programs, and making businesses aware of programs. • Connecting interested businesses to support resources (training, grants, loan programs). • Convening and facilitating the City’s relationships with 12 economic stakeholders and regional economic partners. Figure 6. Englewood Community Development Organization Chart DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 19 Redevelopment Redevelopment is a division within the Community Development Department. It is staffed by the Chief Redevelopment Officer who focuses on implementing the City’s redevelopment priorities including identified catalyst sites, the most prominent and imminent of which is the proposed CityCenter redevelopment project. The City’s selected development team, led by SKB Development and Tryba Architects, envisions a 24-acre redevelopment including approximately 1.3 million square feet of mixed-used development in six new buildings and one redeveloped building, civic uses, new streets, green spaces and public gathering areas, structured parking, and 150 on-street parking spaces. Redevelopment is also facilitating joint planning meetings between Swedish Medical Center and Craig Hospital. Both facilities have current building and campus expansion projects under construction, and future plans for continued growth. Englewood Downtown Development Authority The Englewood Downtown Development Authority (EDDA) is a special district approved by district property owners in November 2020. The EDDA’s mission is to act as a champion for Downtown Englewood, and to implement the Englewood Downtown Plan through economic development, placemaking, marketing, mobility, parking, urban design and maintenance activities. The district encompasses a large area of the central business district and is comprised of three distinct subareas as described below and shown in Figure 7. • CityCenter – The CityCenter area opened in 2000 on the site of the former Cinderella City Mall and is focused on transit oriented development adjacent to the RTD light rail station. The CityCenter subarea includes the Englewood Civic Center, Walmart, the ArtWalk apartments, additional commercial and retail development along Englewood Parkway, and the Englewood Marketplace and Englewood Plaza shopping centers. • South Broadway – The South Broadway district includes the historic downtown core along Broadway from Old Hampden to Eastman Avenue, and adjacent commercial development in the downtown core district approximately two blocks to the east and west. • Wellness District – This district is a regional health and wellness hub anchored by the City’s two large medical institutions, Swedish Medical Center, and Craig Hospital that is surrounded by numerous restaurants, medical office, and mixed density residential developments. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 20 Figure 7. Englewood DDA Boundary The EDDA is funded through sales and property tax increment financing (TIF) generated by increases in assessed value within the district. The EDDA works closely with the City and other community partners to implement Downtown projects and programs. In 2021, the district's voters approved a $70 million debt authorization, which will enable the EDDA to finance projects in the area over the course of its 30-year lifespan. The EDDA expects to provide a significant investment in the CityCenter redevelopment, in addition to other public investments in the South Broadway and Wellness Districts. Greater Englewood Chamber of Commerce The Chamber of Commerce is a private member-based organization established in 1984 to promote business interests in the community, and to encourage networking and best practice sharing. The Chamber is a trusted voice of businesses and partner with the City and EDDA. It has two part-time staff and an annual budget of $80,000. About 20 percent of the budget is derived from memberships and most of the remainder from events including a service agreement with the City to host four annual events, which are open to all Englewood businesses regardless of membership status. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 21 Aurora South Metro Small Business Development Center The Aurora South Metro SBDC is the local SBDC for the south Denver metro area including the City of Englewood. SBDCs provide confidential business counseling and low- or no-cost training to people interested in starting a business or improving their existing business. The Aurora South Metro SBDC can also help businesses connect with lenders for SBA loans ($125,000 to $5.0 million) and smaller microfinance loans up to $50,000. SBDCs are part of a national program run by the US Small Business Administration (SBA), funded with federal and state matching funds plus funding from local partners. The City of Englewood has a contract with the Aurora South Metro SBDC to provide business planning, counseling, and other support services to individuals and companies wanting to start and open a business in the city. Individuals and companies seeking a Business Initiation Grant or Business Acceleration Grant are required to prepare a business plan that the SBDC assists in completing. Economic Development Programs Englewood Economic Development administers five grant and incentive programs and provides other business support services described in this section. Grants and Incentives Tier 1 Programs Tier 1 programs are the highest priority and most frequently used, followed by the Tier 2 and Tier 3 programs. • Business Initiation Grant (BIG) – The BIG program provides up to $5,000 for startup costs to qualified small businesses. The money must be spent on permanent capital improvements so that the investment stays in Englewood. The City budgets approximately $50,000 to $75,000 annually for this program. • Business Acceleration Grant (BAG) – The BAG program provides grants up to $10,000 for capital investments for small business expansion costs. The City generally awards about 12 to 15 BIG and BAG grants per year. • Small Business Training Grant – This a grant that businesses can use to offset the cost of training classes. The maximum grant is $500 and will cover the cost of registration for classes and training offered through Aurora South Metro SBDC and other qualified providers. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 22 Tier 2 Programs • Primary Employer Incentive – This is a City tax or building fee rebate of up to $25,000 via staff approval intended to incentivize primary employers to locate in the city. A primary employer is a company or firm that derives most of its sales/income from outside the local region. Rebates can be offered on construction use tax and permit fees. Incentives that exceed $25,000 require the approval of the Englewood City Council. • South Metro Enterprise Zone – Englewood’s economic development staff manages the South Metro Enterprise Zone that provides businesses with State of Colorado tax credits for a variety of investments, including job creation, capital equipment purchases, health insurance, job training, and vacant building rehabilitation. Direct Business Support Services (Tier 3) The direct business support services provided by the City are summarized below. • Commercial/Industrial Site Selection – Assists new or prospective businesses to identify space in existing buildings or land for new buildings within Englewood. Maintains relationships with property owners and brokers to monitor market conditions and property status. • Business Training/Workshops – Refers businesses to the Aurora South Metro or US SBDC for training resources. Also collaborates with the Aurora South Metro SBDC to host local training events. • Quarterly Real Estate Reports – Prepares a quarterly snapshot of real estate market conditions and trends in Englewood with metro Denver comparisons. • Custom Data Reports – Upon request, provides reports to businesses on population growth, consumer spending, traffic counts, and other site selection factors. Other Resources The City also promotes and refers businesses to other programs and resources. • Colorado Brownfields Revolving Loan Fund – This is a loan program available to finance the cleanup and remediation of contaminated Brownfield properties. • Economic Partners– Represents Englewood with and refers businesses to other resources with the City’s economic partners. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 23 Regional and Other Economic Partners In addition to the EDDA, the Chamber and the SBDC, there are nine other economic partners that the City works with and uses for specific resources, listed in Table 16. The most direct partnership is with Arapahoe/Douglas Works! (A/D Works!). The City and A/D Works! partner to host job fairs, and to connect employers with training and apprenticeship program funding. It is important for the City to be involved with other economic development organizations (EDOs) such as the South Metro Denver Chamber of Commerce, the Denver South Economic Development Partnership, and the Metro Denver EDC. Engagement with these groups helps keep the City current on emerging trends and opportunities in the area. The City and representatives of each of these groups provide mutual outreach and updates about potential business opportunities. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 24 Table 16. Regional and Other Partner Organizations Organization Type Role Structure Mi Casa Resource Center Small business support • Business support • Small business training • Focus on women from disadvantaged backgrounds • Nonprofit organization Manufacturers Edge Small business support (manufacturing) • Business support • Technical and best practices support for small and medium sized manufacturers • Local branch of Hollings Manufacturing Extension Partnership (MEP) through the National Institute of Standards and Technology (NIST) A/D Works! Workforce development • Workforce development/training • Job and employee search • Federal job programs • Labor market data • Local branch of statewide Workforce Development Centers funded by State Dept. of Labor and Federal Gov’t. Arapahoe Community College Workforce development • Associates and bachelor’s degree, and certificate programs • Apprenticeships • Board includes private industry representatives to align courses with market demand • Nonprofit community college South Metro Denver Chamber of Commerce Regional EDO • Marketing, recruitment, business retention • Legislative advocacy • Networking • Membership organization • South Metro area: Englewood and Hampden Ave. to Castle Pines including Arapahoe and Douglas County governments Denver South Economic Development Partnership Regional EDO • Marketing and recruitment for South I-25 and South Metro Denver • Administer South I-25 Transportation Management Area and SPIMED metropolitan district infrastructure funding • Private membership organization engaged in regional economic development and transportation planning Metro Denver Economic Development Corporation Regional EDO • Marketing and recruitment for Metro Denver region • 70 county, city, and economic development group members • Economic data, market research • Legislative advocacy • Nonprofit funded by member governments and EDOs Colorado Office of Economic Development and International Trade (including Minority Business Office) Regional/State EDO • Promote State of Colorado and targeted industries • Administer statewide grant and incentive programs • Administers Enterprise Zone at State level • State agency US Small Business Administration Federal agency • Loan programs (SBA 7 and 504) • Microfinance loans (under $50,000) through local lending partners (CDFIs) • Supports local SBDCs • Federal agency DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 25 Peer City Economic Organizations Cities in Colorado and elsewhere follow different organizational structures to provide economic development services. The approaches used in seven peer cities are summarized in Table 17 and profiled below with a focus on identifying successful programs and services that may be applicable to Englewood’s program. Littleton Littleton has an Economic Development Department that leads local economic development efforts. The department focuses on opportunities to enhance the City’s tax base and diversify revenue sources that are compatible with its small- town character by focusing on attracting and retaining businesses and drawing visitors for shopping, entertainment, arts, and culture. Its major programs include business retention and attraction; a database of available commercial properties; an economic development plan; and economic analysis and research. The department has reorganized in response to the approval of its Envision Littleton, the new 20-year comprehensive plan. The City is also placing greater reliance on fiscal sustainability in its economic development initiatives and has developed a fiscal and financial model for evaluating projects and investments. It is also encouraging the formation and implementation of a DDA in downtown. The City has four full time economic development staff including a director, two economic development specialists, and a business operations manager. The department’s annual budget is approximately $500,000, with about one-half devoted to salaries and approximately $100,000 available for incentives. Littleton partners with other economic development agencies and community organizations including the Littleton Business Chamber of Commerce, Denver South Economic Development Partnership, South Metro Denver Chamber of Commerce, and A/D Works!. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 26 Table 17. Peer City Economic Development Programs City Economic Development Lead Key Partners Staff Budget Core Functions Englewood City Community Development • EDDA • Aurora South Denver SBDC • Englewood Chamber of Commerce 1.5 $160,000 not incl. personnel • Business retention and expansion • New business development • Business recruitment and marketing • Providing economic and market data; and • Workforce development Littleton City Economic Development Department • Littleton Business Chamber of Commerce • Denver South EDC • South Metro Denver Chamber • Arapahoe/Douglas WORKS 4.0 $500,000 • Business retention and attraction • Commercial property database • Economic development plan • Economic data and analysis Golden City (Economic Development Division) • DDA • Golden URA • Jeffco EDC 1.5 $350,000 • Small business assistance • Primary employer attraction Loveland City Economic Development Department • Innosphere tech incubator • Warehouse Business Accelerator 4 $3.5M • Business creation and expansion • Primary employer recruitment • Visitor and tourism marketing • Economic incentives Louisville City Economic Development Department • Downtown Business Association • Louisville Chamber of Commerce • Boulder SBDC 2 $383,000 • Balance of business retention and attraction • New development needs to have positive fiscal balance Centennial City Manager's Office - Economic Development Team • Denver South EDC • South Metro Denver Chamber of Commerce • Metro Denver EDC • Aurora South Metro SBDC • Arapahoe/Douglas WORKS 4 $1.0M • Works with local businesses • Recruits employers to the city • Manages redevelopment Castle Rock Economic Development Council (EDC) • Town • Castle Rock DDA 4 $1.0M • Attracting and retaining employers • Property and building database • Economic and demographic statistics • Economic incentives, gap financing Arvada Arvada Economic Development Association • City • Arvada Urban Renewal Authority • Olde Town BID 4 +/- $700,000 • Business retention and expansion • Annual business survey DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 27 Golden The City of Golden has a City-led economic development program through its Community and Economic Development Department. The department was organized in 2012 in order to integrate the City’s land use, community and neighborhood planning, economic development and vitality, and sust ainability programs. The divisions in the department specialize in working with community interests to achieve community goals in Golden Vision 2030, the City’s comprehensive plan and primary guiding vision for its future development. The Economic Development Division administers and implements small business assistance programs and primary employment attraction and retention efforts, under the direction of the Golden Economic Development Commission. The Commission has an 8-member board appointed by the city council. The division has 1.5 staff and an annual budget of approximately $350,000. Golden’s Economic Development Department partners with the Jefferson County Economic Development Corporation (Jeffco EDC) on regional economic development initiatives. Jeffco EDC focuses on the recruitment of primary industries to the County and its incorporated cities. On the local level, the Golden Urban Renewal Authority (GURA) addresses place- based improvements and redevelopment activities in three urban renewal areas. Within the downtown area, the Golden Downtown Development Authority (GDDA) supports the economic and community vitality of the downtown area funded by sales and property tax TIF, as well as a 5.0 mill downtown property tax. It provides the following programs: holiday lighting, streetscape improvements; grants for small businesses, arts and culture, and special events; and TIF financing incentives to eligible redevelopment projects. Loveland Loveland’s economic development programs are under direction of the City’s Economic Development Department. The department’s mission is “to grow employment and business opportunities to sustain the economic health of Loveland and the northern Colorado region.” The economic development team includes a director, two business development specialists, and an administrative assistant. The City’s visitor services, visitor center, and tourism marketing are also contained in the department and include four additional staff. The total department budget is approximately $3.1 million, which includes about $1.0 million in salaries and $1.0 million in economic incentives. Economic development services include programs and support for starting a business, expanding a business, and moving a business to Loveland. The department also provides a database on available properties, economic data, business support services, and strategic plans and incentives policy. The City partners with other regional economic development organizations including Innosphere, a nonprofit regional energy technology incubator in Fort Collins, and Warehouse Business Accelerator, a nonprofit that partners with advanced DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 28 manufacturing firms that are going through the growing pains and strategic changes that come with scaling up. Loveland also has a DDA that is very active in supporting Downtown development. Louisville Louisville’s economic development efforts are under the direction of the City’s Economic Vitality Department. The City’s overall economic development goal is to promote a thriving business climate that provides job opportunities, facilitates reinvestment, and produces reliable revenue to support City services. Louisville takes a balanced approach to economic development between business retention and business attraction. It has a relatively diverse economic base with a mix of regional and community-oriented retail, professional office, and industrial and technology industries. Similar to Englewood, the City has key retail and industrial properties slated for redevelopment, including the vacant Sam’s Club and Kohls, and the 200-acre former Storage Tech campus. The City is very concerned about the fiscal impacts of growth and has taken a measured approach to development proposals, turning down projects that do not demonstrate a positive fiscal balance. It produces an Economic Vitality Strategic Plan and evaluates the strategic actions and program initiatives against economic prosperity key indicators or KPIs. The Economic Vitality Department has a $384,000 budget in 2022 with two full time staff, an increase of one over the previous year. The budget is largely personnel with a small allocation of about $75,000 for services. Like other cities, it provides links to economic development partners, which locally include the Downtown Business Association, and Louisville Chamber of Commerce, and on a regional scale the Boulder SBDC, OEDIT, and Metro Denver EDC. Centennial The Centennial economic development team is housed within the City Manager’s office. Despite that lower outward profile, there are four full-time staff including a director, senior economic developer, redevelopment specialist, and economic development specialist, The economic development team has a budget of $1.0 million in 2022, which is nearly double $551,000 the previous year. About half of the budget is consumed by personnel costs with a large pool of resources dedicated to sales tax incentives and construction use tax incentives. The relatively succinct website states that the City “works with local businesses and regional partners to establish and maintain a vibrant and diverse local economy.” It includes a four-minute video highlighting a number of the City’s major employers and their technological innovations, large workforce, and major redevelopment efforts. Its economic development partners include Denver South EDC, South Metro Denver Chamber of Commerce, Metro Denver EDC, Aurora South Metro SBDC, and A/D Works!. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 29 Castle Rock The Castle Rock economic development program is led by the Castle Rock Economic Development Council (CEDC) which is a nonprofit 401-C-4 corporation. The CEDC’s primary roles are supporting existing businesses; attracting and retaining employers; compiling a comprehensive property and building database; and maintaining economic and demographic statistics on the town and larger region. The CEDC works closely with the Castle Rock Downtown Development Authority (DDA), which focuses on the CBD providing support to existing businesses, maintaining and funding downtown improvements, managing downtown events, and providing TIF as gap financing for infill and redevelopment projects. The Town maintains an Economic Development Fund with an annual budget of approximately $1.3 million. The primary revenue source is construction use tax that generates a fluctuating revenue stream. The Town pays about $200,000 to the EDC for economic development services and uses its remaining fund for existing and future economic development incentive agreements. Arvada Similar to Castle Rock, Arvada economic development activities are led by a nonprofit EDC, the Arvada Economic Development Association (AEDA). The membership organization, which is supported by private support as well as a financial contribution from the City, undertakes the following roles: • Supports existing businesses • Conducts an annual business survey • Directs business recruitment efforts • Provides financial incentives and grants • Assists with site and building data and property searches • Maintains an economic database AEDA partners with several other economic development partners including Jeffco EDC on regional economic development marketing, and more locally with the Arvada Urban Renewal Authority (AURA) and Olde Town Business Improvement District (BID) on local place-based initiatives. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 30 Conclusions There is a great deal of commonality of economic development structures across the region. Englewood is providing a similar set of programs and services, although at a more modest level of staffing and funding that largely reflects the size of the city and the fact that it is largely built out. It also provides a similar suite of core services including supporting existing businesses, business development, marketing, and maintaining economic and property databases. Notable differences among the cities reviewed include the following: • The level of financial investment in economic development generally reflects the size of the city, and in particular the amount of undeveloped land available for development. • The various city’s economic development efforts are also a reflection of their overall position on growth. Loveland, Centennial, Castle Rock, and Arvada have more proactive efforts at business recruitment and have substantial budgets for incentives. By contrast, Golden, Littleton, and Louisville are more locally focused. • In most of cities profiled, the city was the lead economic development entity, either as its own department or as a section of division of a larger function (e.g., community development or city manager’s office). • Redevelopment activities play a strong role in the economic development efforts in the places reviewed, either directly by the city or in partnership with an urban renewal authority or downtown development authority. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 31 Strengths/Weaknesses/Opportunities This section of the Plan summarizes the public and stakeholder input received that help shape the recommended strategies. Public Input and Outreach The public input process consisted of several outreach efforts including one-on- one interviews with economic development partners and other key stakeholders; targeted business focus groups and workshops; and a web-based community survey of residents and businesses. Economic Partner Interviews – Interviews were conducted with the City’s key economic development partners including key City staff, the EDDA, the Englewood Chamber of Commerce, and Aurora South Metro SBDC. These interviews covered the roles and responsibilities of each entity, the process and structure for interaction and partnership, and identification of City strengths, weaknesses, and opportunities. A key consideration is that the EDDA was newly established in 2021 and its relationships to the other economic development partners are still being formalized. Focus Groups and Workshops – The consultant team conducted two focus groups with existing Englewood businesses, a workshop with Greater Englewood Chamber of Commerce members, and a work session with City Council. These sessions reviewed the purpose of the strategic plan, key issues, City economic strengths, weaknesses, and opportunities for the future. Other Stakeholder Interviews – Interviews were also conducted with key employers, property owners, developers, and realtors active in the Englewood market. These interviews focused on an assessment of their current and recent interactions with the City’s economic development programs and initiatives and identification of future opportunities. Community Survey – The City posted a community survey on Englewood Engaged to gain input to the Economic Development Strategic Plan. The survey received 125 views and 45 completed surveys by Englewood residents and businesses. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 32 Strengths and Weaknesses The City’s economic strengths and weaknesses were compiled from the economic and demographic analysis, comparative analysis of peer communities, and the public and stakeholder engagement process. Based on this analysis, opportunities for economic growth and program development are then identified. Strengths The most frequently mentioned theme was that after years of stagnation, the City is growing again. The surge in new residential construction, including both apartments and for-sale townhomes and houses, are adding new population and household spending potential. Directly or indirectly related is the growth of new businesses in the Downtown area along South Broadway and along Old Hampden in the Wellness District. The community survey responses were generally positive about this new housing growth (with a few exceptions) and were overwhelmingly positive about the growth of new restaurants, bars, coffee houses, brewpubs, and independent boutique stores in the Downtown area. Many also noted that they would like the area to become more like the successful neighborhood business districts in central Denver like Old South Pearl, Old South Gaylord, and 38th and Tennyson. The business community and stakeholders noted that Englewood’s strengths included its central location with good transportation access, including Santa Fe, Hampden/US-285, and RTD’s Light Rail D Line accessing Downtown Denver. They also mentioned that although located close to the center city, Englewood maintained its small-city character with easy access to business, community, and governmental services. Businesses that had interactions with the Economic Development office or its partners generally had a positive experience, with many specifically mentioning the City’s proactive Covid response and business support funding as especially helpful. City services including police, fire, code inspection, utilities, and community development received generally high marks as well. City staff were described as accessible, helpful, and professional, and less bureaucratic than Denver. In addition to the growing cluster of independent restaurants and specialty stores, many recognized the importance of the two large medical institutions, Swedish Medical Center and Craig Hospital in the Wellness District, as major contributors to the City’s economic base. A number of those interviewed in the real estate community mentioned the City’s relatively affordable retail, office, and industrial space as a strength and a marketing advantage over the City and County of Denver. Specifically, main street retail spaces were available for rents in the low to mid-teen dollars per square foot compared to the mid $20s per square foot in Denver. However, it was DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 33 noted, that as more buildings are renovated, these rents are increasing. The City’s largest office buildings, including Chase, Wells Fargo, and 750 West Hampden, are all older and provide space for small businesses at rates much more affordable than in Downtown Denver or the I-25 corridor. The City’s older inventory of small and medium sized industrial buildings are also affordable to new and emerging businesses, but it was also noted that the total inventory was shrinking as some outmoded space was being redeveloped as apartments. The creation of the EDDA provides a new financing and placemaking entity to assist in revitalizing the Downtown District, along with enhanced marketing and maintenance programs. Weaknesses and Challenges The older retail, office, and industrial inventory can also be characterized as a weakness, at least to the extent of a lack of available new or renovated higher quality spaces. It was noted the City can potentially address this deficiency by including new office space in the CityCenter redevelopment and encouraging redevelopment of older sites in the CityCenter area and elsewhere in the city. The most frequently mentioned weaknesses or challenges focused on the condition of commercial space and infrastructure in two areas: the Broadway corridor south of Hampden, and Englewood Parkway west of Broadway. • South Broadway – The Broadway corridor south of Hampden transitions to a post-World War II development pattern that is fragmented and auto dominated with buildings set back from South Broadway with parking in front. Although there are a notable number of new businesses, the area lacks a critical mass and is still dominated by auto related uses, pawn shops, and older motels. The area’s infrastructure is also deteriorated with poor quality sidewalks, street crossings and landscaping leading to a perception of an unsafe pedestrian environment. • Englewood Parkway – The commercial shopping centers built in the latter half of the 20th century west of Broadway including the increasingly vacant retail space at CityCenter and the Englewood Plaza and Englewood Marketplace shopping centers, contains older outmoded space with high vacancies and excessive amounts of unused parking. The proposed CityCenter redevelopment will be a major and important step toward revitalization, but it will take several years to be implemented. • South Broadway North of Floyd Ave. — Approximately north of Floyd Avenue, South Broadway does not have the same level of streetscape amenities, lighting, street trees and pedestrian safety facilities that the historic 3400 block offers. However, new entertainment and food and beverage uses are clustering on these blocks and should be supported with these public amenities. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 34 Several businesses noted that although the City sponsored a number of Downtown events, it is difficult for private event sponsors to secure required City approvals for events. It is also reportedly difficult for businesses to bring a food truck in to serve an outdoor performance or other event. As noted above, the City received relatively high marks for its portfolio of business support programs and grants through its partnerships with the SBDC and the Chamber from those who were aware of their availability. However, several new startups mentioned they were not aware of the grants available. Opportunities This section summarizes the key issues and opportunities to be addressed in the Strategic Plan. To a large degree, the identified opportunities build on the City’s strengths and address the identified weaknesses. These opportunities are grouped into two categories, business support services and resources, and reinvestment and placemaking. Business Support Services and Resources The business support services and resources are the core functions provided to existing businesses and entrepreneurs engaged in establishing or growing businesses. Based primarily on the public input, several opportunities for new or expanded services were identified. • The process for City permits for private events and for food trucks can be streamlined and improved. • The availability of business grants can be better promoted to aspiring entrepreneurs interested in starting a business. • The eligible use of BIG and BAG grant funds could be expanded to include energy efficiency and fire suppression costs. • The Economic Development Division can work with the EDDA and other partners to support a new business incubator and/or artists facility in the CityCenter area. • The Economic Development website can be optimized to make it more vi sible, rather than being nested within Community Development. It already contains the key information needed by prospective businesses. • The City may consider adding new economic development partners including the Colorado Housing and Finance Authority (CHFA) to address the increasing need for more affordable housing and agencies such as the Colorado Enterprise Fund for small and minority-owned business lending. • Another economic development opportunity would be to support Englewood businesses that promote the brand of the City. Economic Development could provide incentive grants to businesses that incorporate the City’s branding programs into their own brand and/or advertising. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 35 •Targeted business retention efforts are needed to retain industrial businesses that do not have a plan for succession when their owners retire. •The Economic Development web page access can be improved to be reached directly from a web browser inquiry rather than nested within the City’s general website. •The Economic Development web page could include a more informative list of steps and contacts for individuals interested in starting a business as well as companies interested in moving to Englewood. Reinvestment and Placemaking Many of the new opportunities are in the categories of reinvestment and placemaking, including redevelopment, public improvements and public space enhancements that improve the quality of Englewood as a place live, work, visit and locate a business. •The highest priority is the CityCenter redevelopment. The City is pursuing a public-private partnership with the SKB/Tryba Architects team. CityCenter will be a transformational project, with an economic impact estimated at $430 to $660 million over 30 years (ArLand Land Use Economics, 2022). •The City is also implementing a complete streets rebuild of Old Hampden from Broadway through the Wellness District. This project will make the corridor safer, more accessible and multimodal, and will further improve the potential for redevelopment of adjacent land and buildings. A similar project is recommended to be implemented on Broadway south of Hampden/US-285. In both cases, the Public Works Department would be the lead agency for the City. •The Wellness District is expected to grow substantially. There are approximately 1,600 residential units in the development pipeline, and over 200,000 square feet of medical and medical office space either planned or under construction. •The EDDA is also investing in the enhancement of existing, and creation of, new public spaces and multimodal connections in the Downtown district, including a full reconstruction of Old Hampden Avenue as a complete street. For the above reinvestment and placemaking projects, Economic Development’s role should be focused on helping existing businesses address the impacts on operations during the construction period as well as assisting property owners with marketing to attract new businesses to the revitalized corridors. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 THIS PAGE INTENTIONALLY LEFT BLANK DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 37 Strategies and Actions This chapter provides the recommended strategies and actions to support the economic success of the City. It begins with an overarching vision statement followed by supporting strategies and actions. Vision Statement Englewood is a community of connected neighborhoods and commercial areas with a vibrant mix of businesses, and diverse business owners and workers. The focus of Englewood’s economic development efforts is on retaining and supporting existing businesses, but the City will also recruit larger businesses through strategic opportunities. Strategies and Actions The Strategies and Actions identify the priority areas where the City should direct its resources and staff time. They are organized into six major categories: •Business Growth, Attraction, and Retention •Business Support and Funding •Placemaking and Land Use Policy •Workforce Development •Organization •Diversity, Equity, and Inclusion (DEI) Strategies Business Growth, Attraction, and Retention Englewood has a growing and innovative food and beverage cluster that can serve as an anchor and customer draw that can benefit other nearby businesses. Englewood also has a unique mix of local independent retailers that would benefit from more exposure. In the post-pandemic environment, Englewood also has the potential to capture more business that has traditionally gravitated to Downtown Denver by attracting consumers on nights and weekends as more people are working from home. 1.Develop a marketing campaign to promote Englewood businesses and Downtown to people in nearby communities. A small investment in marketing could create more exposure for Englewood businesses. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 38 2.Explore the feasibility and acceptance of cross marketing products and services within Englewood businesses (selling each other’s products for mutual benefit). Work with the Chamber to explore business-to-business collaboration to cross market complementary products among Englewood’s independent retailers. 3.Support more private-led events that will draw people to Englewood to visit businesses. Businesses are interested in leading more events but have identified the City’s permitting process as a constraint. The City should work with businesses and the Chamber to identify the issues and propose appropriate code and ordinance changes. The EDDA can dedicate funds to support events produced by other parties in the Downtown district. 1.Support the networking events led by the Chamber; identify ways to reach more sole proprietors and professionals working from their homes or small offices in Englewood. A growing number of people are starting businesses out of their homes in Englewood, particularly professional sole proprietors according to observations in the public outreach. Networking will help them identify opportunities to collaborate and grow within Englewood, perhaps to a brick-and-mortar location in a commercial district. 2.Support building coworking and other low-cost offices for sole proprietors and small professional and creative firms in Englewood. The initial coworking space projects in Englewood have been successful, suggesting a good market for this product. Vacant commercial space along Englewood Parkway may be suited to conversion to small office and coworking space prior to the planned redevelopment of the area. 3.Support development of a new small business incubator in the CityCenter area. A business incubator can help small businesses and sole proprietors move from concept into a growth phase. Unless run by a private or nonprofit entity, a lead agency will need to be identified to fund and operate the facility. The City currently does not have the capacity to operate a business incubator. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 39 1. Look for ways to meet more hospital supply chain and service needs, as well as clinical office, auxiliary services, and space for educational programs in Englewood. The hospitals can have an even larger economic impact on Englewood if more supplies and services are sourced locally. The City can act as a convener and meet periodically with hospital leaders and procurement managers to determine if there are gaps that can be filled locally. In addition, the City could connect hospital space needs for auxiliary services, clinics, and educational programs with property owners. Connecting minority-owned businesses with the hospitals’ procurement and diversity, equity, and inclusion (DEI) offices can create new business opportunities for small businesses and increase the local economic impact of the City’s medical industry. 2. More branded “flag” hotels are needed in Englewood to capture hospital patient family and visitor stays. Hospital leaders and other stakeholders cited the lack of hotel space as limiting the economic impact of the hospitals in Englewood. Attracting hotels will also help support the local restaurants and retailers because they are good places to promote local businesses through the front desk and printed and digital marketing materials. Englewood also needs meeting and conference spaces of a range of sizes to host community events and professional and business gatherings. 3. Promote career fairs within Englewood Public Schools and Arapahoe Community College (ACC) to build awareness of career paths with the medical anchors and other local industries. Health care workers and workers in other growing industries are in high demand and there are numerous pathways that do not require advanced degrees that can be promoted to people starting their careers. Partnerships with local high schools and the community college can help build a pipeline of skilled employees and inform students on local career options. 4. Conduct regular outreach to hospital leaders. Staying in regular contact will help maintain a strong relationship with the City and EDDA and anticipate any challenges where the City and/or EDDA can assist. The Redevelopment division and other City departments already engage with the hospitals regularly on expansion planning and construction. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 40 1.Ensure that considerations are made for larger primary employers in major redevelopment sites and plans. Englewood’s strongest real estate market segment is currently residential development, and this momentum may motivate developers to focus on residential development rather than employment-focused buildings. It will be important to reserve portions of large redevelopment projects to accommodate primary economic base jobs to support and sustain economic diversity. Within CityCenter and the Downtown district, sites for offices, medical uses, and R&D space should be identified. 2.Identify industrial areas and businesses for focused business retention outreach. A large portion of Englewood has industrial employment. Industrial jobs can pay more than retail and food and beverage jobs, and the buildings and business personal property can be an important part of the tax base. Many business owners are reaching retirement age. Succession planning can help the business continue under ownership by interested employees. 3.Develop a policy that provides guidance on industrial areas or land use types that are suitable for redevelopment and that should be preserved. Industrial areas on the east side of the Santa Fe corridor are experiencing market pressure to redevelop into housing. Industrial development that has high employment and high taxable value has the largest economic contribution to the City. Industrial areas with low density land uses such as outdoor storage and salvage yards have less of an economic contribution and therefore more suitable for redevelopment. A future update of the Englewood Forward Comprehensive Plan should analyze the appropriate mix of industrial and residential development in this area. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 41 Business Support and Funding Several major infrastructure projects are planned in Englewood that could cause business disruption. Reconstruction of Old Hampden is anticipated in 2023. The South Broadway bridge over US-285/Hampden Avenue is also planned to be replaced. A corridor study of South Broadway is underway to examine ways to improve traffic and transit operations, safety, and placemaking. 1. Establish the Economic Development division as a liaison between affected businesses, Public Works, and construction contractors. The Economic Development division can help represent businesses to ensure that operational impacts are minimized. The City’s BIG and BAG grant programs are popular and have a meaningful impact on small businesses trying to fund startup or expansion costs. Some adjustments to the current programs are proposed to increase their appeal and to try to serve underrepresented people. 1. Continue the current grant and incentive programs and consider some proposed modifications. Add fire suppression and energy efficiency improvements as eligible expenses. Add eligibility criteria for nonprofit organizations (including arts and entertainment groups). Funds would still be limited to permanent capital improvements, not operational costs. 2. Work with the Aurora South Metro SBDC to host an annual lender forum to increase lender education and awareness of state and federal loan programs. Stakeholder input suggested that more education is needed in the local lending market on federal state loan programs for small businesses, and the process of applying. Economic Development and the Chamber should host an annual lender forum to increase knowledge of programs and how to use them. The SBDC can bring in experts from the US SBA to educate lenders on the loan products available and application process and subsequent follow-up activities. 3. Work with the Aurora South Metro SBDC to increase deployment of micro enterprise loans in Englewood, especially to minority-owned businesses. The SBA 504 and 7(A) loan programs have a minimum loan amount of $125,000. This is too large for very small businesses and people without sufficient credit history or assets to use as collateral. Microlending can provide much smaller loans, starting as low as $500. The purpose of these programs is to assist with startup costs and to help entrepreneurs build credit. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 42 The SBDC is working with state and federal partners to implement new loan programs targeted at traditionally underserved businesses and people. There are also several organizations in Metro Denver that provide microlending services including Colorado Enterprise Fund and Rocky Mountain Micro Finance Institute that the City can contact. However, the City may need to contribute funding to the organization to be eligible for its services. 4. Increase access to small business lending in traditionally underserved populations through increased outreach and promotion of available programs. Persons who identify as other than white make up approximately 30 percent of the population in Englewood, but they are underrepresented in the current economic development programs and organizations. The City should work with existing and new partners to broaden the exposure of available programs to underserved populations. Identifying and establishing relationships with local and regional minority business advocacy groups, as well as larger established organizations will be necessary. The Organization section of this Plan contains additional recommendations on this topic. 5. Provide grants to businesses that incorporate “Englewood” as part of their branding and/or advertising. The City can leverage private sector efforts to promote Englewood businesses by partnering with them and contributing to marketing costs. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 43 Placemaking and Land Use Policy Cities with high quality infrastructure and public facilities, and a safe and attractive public realm, are the most successful at attracting and retaining business and entrepreneurial investment. 1.Improve the aesthetics and safety of the City’s arterial road corridors. South Broadway south of Hampden Avenue is perceived by businesses and residents to be disconnected from rest of Englewood. It has a lower density and automobile centric development pattern, as Hamden Avenue is the approximate boundary between pre- and post-war development in the city. This area has not received a proportional amount of investment and planning to improve the quality of the street and pedestrian environment. The City is implementing a complete streets rebuild of Old Hampden from Broadway through the Wellness District. This project will make the corridor safer, more accessible and multimodal, and will further improve the potential for redevelopment of adjacent land and buildings. A similar project is recommended to be implemented on Broadway south of Hampden/US-285. In both cases, Public Works would be the lead agency for the City. 2.Address gaps in the transportation system so that people with all abilities can access businesses and services. Similar to many cities in Metro Denver, Englewood has good public transit service. However, the transit system is designed largely to move people at the regional level. Additional work is needed to make the “last mile” connection from the transit station or hub to a final destination, including an assessment of future options for the Englewood Trolley service. People with all ability levels use Englewood’s transportation system. Transportation needs to be defined broadly to account for the needs of all users, not just people in automobiles. Specific focus is needed on safety and accessibility improvements in the Wellness District and between CityCenter Station and the Wellness District. 3.Improve public perceptions of safety in Downtown and other commercial areas of Englewood and create better outcomes for vulnerable populations. Businesses and the public are reacting to a perceived decline in safety related to the presence of people experiencing homelessness, drug addiction, and physical and mental health issues. The City is implementing the Tri-City Homeless Action Plan in partnership with Arapahoe County, All Health Network, Allied Universal Security and the EDDA. Programs include DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 44 co-responding of police with service providers, outreach services to people in need, enhanced maintenance, Crime Prevention through Environmental Design and private security in the CityCenter area. During the public outreach process, businesses noted the positive impacts that growth in housing and the expansion of Swedish and Craig Hospitals have had on business. These observations confirm the economic principles that a growing population increases the local spending available to local businesses. Englewood has limited opportunities to grow on undeveloped land. Therefore, support for redevelopment will allow its economy to grow and evolve with changing markets. 1. Support infill housing and mixed-use redevelopment of outdated low- density retail and commercial space, primarily on the South Broadway and Old Hampden Avenue corridors and surrounding light rail stations. As commercial and industrial property declines in economic and tax productivity relative to other potential uses, redevelopment with higher intensity employment and sale-generating uses, and residential development should be supported. The spending potential and resulting sales tax revenues generated by new residents’ spending can often be higher than tax revenues from economically declining low-density land uses. Vacant commercial space detracts from an area’s energy and creates the perception of weak economic and business conditions. 1. Maintain contact with key property owners and brokers to anticipate major vacancies and to support tenant recruiting or repurposing of the space. The City and EDDA can support property owners and brokers in finding tenants and helping to address any zoning or building code issues for changing uses or re-tenanting spaces. Maintaining relationships with key property owners and managers will enable vacancies to be anticipated and advanced planning for alternative uses. 2. Explore alternatives for filling vacant space along Englewood Parkway and in CityCenter. This area has experienced persistent vacancies in the ground floor mixed use space. This condition will likely worsen prior to the planned CityCenter redevelopment. The City and EDDA can consider an interim strategy to incubate arts, history, and business incubator organizations. A partnership with the property owner will be required. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 45 3.Explore a program similar to “Pop Up Denver” for activating vacant commercial space. Denver Economic Development & Opportunity (DEDO) and Downtown Denver Partnership are launching a program that will allow startup retailers to occupy otherwise vacant space at reduced rent. Businesses selected in the competitive process will also receive $20,000 in startup grant funds. The program is funded by the City’s ARPA grants. 4.Support elements of tactical urbanism for activating areas of Englewood. Tactical urbanism is using lower cost temporary changes to the built environment to improve them. Street/alley art, “guerilla gardening,” temporary bike lanes, food trucks, and pop-up retail are all elements of tactical urbanism. When there is more pedestrian and street level activity it creates a positive feedback loop that brings more people (customers) to business districts. Tactical urbanism is a faster and less expensive way to encourage more street activity than traditional “hard infrastructure” improvements. If these strategies are used, communication needs to be clear that they may be temporary. 5.Explore strategic and regulatory approaches to attracting and retaining retail/commercial tenants and discouraging vacant space. CityCenter and other mixed-use projects will need support in tenanting new ground floor and other mixed use and nonresidential space. The City, its partners, and the CityCenter developer could collaborate on a retail strategy that identifies targeted business types and financial and regulatory incentives to support tenant attraction. The strategy should be targeted and curated around Englewood’s strengths and the unique local and regional businesses and new concepts, not a traditional retail gap analysis. The strategy can also examine dis-incentives for leaving space vacant through regulatory fees or taxes or other measures. 1.Support the efforts of the City and EDDA to complete the CityCenter Development and Englewood Downtown Plan. The completion of CityCenter redevelopment and implementation of the Downtown Plan will be transformational. Support for these efforts by the City and EDDA should be a high priority. 2.Proactively work with property owners interested in reinvesting in and de/redeveloping their property to address entitlement or infrastructure impediments. The City has identified 11 catalyst sites (not including CityCenter) that have development and redevelopment potential into more economically productive uses. The City should maintain contact with these property owners to support redevelopment planning. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 46 Workforce Development Many businesses, especially retail, restaurant, and healthcare businesses face an ongoing labor shortage problem. These jobs can be highly competitive with neighboring communities because most communities have employers that offer these types of jobs. Although this is a complex and multifaceted national issue, expanding affordable and attainable housing in Englewood could help more workers live in Englewood closer to their jobs. 1. Expand the supply of affordable and workforce housing by promoting development sites for affordable housing projects and partnering with and incentivizing market rate developers to include affordable units in their projects. Increasing the supply of affordable and workforce housing will help more employees live closer to their jobs and will help Englewood businesses be more competitive in attracting and retaining workers. Homeownership programs are also needed to help younger and middle-income workers build wealth and stay in the community over time. The City is conducting a housing needs assessment and strategy that will provide more guidance on this issue. 1. Act as a liaison between businesses, local schools, ACC, and A/D Works! to monitor demand and supply of specialized skill workers. ACC and A/D Works! already have processes and advisory boards in place to monitor skill supply and demand. The City can be part of these conversations to stay in tune with emerging needs and trends, and bring a local, Englewood business perspective. 2. Support developing apprenticeship programs through economic partners including A/D Works! and conduct employer outreach and education to facilitate program adoption. A/D Works! offers funding to employers for qualified apprenticeship employees including veterans, college students, people with disabilities, and low-income people. A business workshop on apprenticeships could increase program adoption. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 47 Organization The current economic development structure is meeting the needs of the City. The strategies in this document recommend minor changes to existing programs, as well as a series of new initiatives. This section describes the recommended structure and roles for the three local partners: City of Englewood, Greater Englewood Chamber of Commerce, and the Englewood Downtown Development Authority. The recommended roles outlined below generally follow the structure that is established and are intended to clarify and confirm roles. The recommendations are based on the expertise and capacity of each organization. Figure 8. Economic Development Organizational Structure Economic Development Division Five core functions are recommended for the Economic Development Division. 1.The Economic Development Division’s core function is as a convener of and liaison between businesses and other EDOs with the City. This is achieved through participation in local and regional organizations, and by maintaining relationships in the community with key businesses leaders, property owners, and other stakeholders. 2.The Economic Development Division is the first point of contact for businesses seeking resources or persons who are interested in starting a business. 3.The Economic Development Division performs targeted business retention and expansion (BRE). These activities are done on an as-needed basis for specific challenges or opportunities. Englewood is not large enough to justify the dedicated staff time and potential need for an additional position devoted to BRE activities. The Economic Development Division is informed of these opportunities through its participation with other EDOs, contacts in the community, and when directly requested from businesses and/or property owners. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 48 4.The Economic Development Division administers the grant and incentive programs with support from other Community Development staff and the Finance Department. 5.With support from other departments, the Economic Development Division provides a regularly updated Business Resource Guide, Real Estate Market Reports, and Economic and Demographic Community Profile Data, and specialized data analysis upon request. SPECIFIC STRATEGIES While the City works with several regional partners on business assistance, some communities have staff resources to provide these services in-house. The City could consider adding a staff position in the future to support additional BRE and business counseling roles if additional funding is available and in response to the ongoing expansion of the business community. 1.Consider the need for an additional staff person to support BRE work, business counseling, and assistance with loan and grant programs. Adding a staff person at some point in the future would require a budget increase. This should be weighed against potentially using a budget increase to expand grant programs targeted to minority owned businesses. Stakeholder input indicated that the Economic Development Division is well known among existing businesses. However, new businesses may be less aware of the services and resources that are available. A website optimization would help improve the division’s visibility and bring it up to a standard comparable to the peer City programs reviewed. 1.Optimize the City’s Englewood Invests website so it has a unique website address and is easily found through search engines. Make additional changes to reflect current best practices in website design. In each of the cities profiled, an internet browser search of the City name plus Economic Development brought up the web page of the appropriate lead department, division or nonprofit entity. In Englewood’s case, although this web page exists, it is nested within the Community Development Department and takes several clicks to reach the intended site. The content on the current website is of good quality and relevant. It should be maintained regularly to stay current. Content such as the Resource Guide should be in downloadable PDFs, rather than the embedded format currently used. The website should contain information on starting a business, and links to key partner organizations and other resources. The City could also work with the Chamber on social media posts and other marketing items. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 49 Redevelopment Division 1. The priority for the City’s Redevelopment Division is to implement the CityCenter redevelopment in partnership with SKB/Tryba, the master developer, and the EDDA. 2. The Redevelopment Division also supports redevelopment activities on other catalyst sites. 3. Continue to support hospital campus expansion planning. Englewood Downtown Development Authority The EDDA was formed to act as a champion for Downtown Englewood and to implement the Englewood Downtown Plan through economic development, placemaking, marketing, mobility/parking, urban design, and maintenance activities. The EDDA receives tax increment financing within its boundary and therefore has a direct role in placemaking and infrastructure investments, and “clean and safe” operations (security, trash removal). The EDDA will work closely with the City and the Chamber in accomplishing six key roles outlined below. 1. Implement the Englewood Downtown Plan 2. Continue to partner with Redevelopment and SKB/Tryba to complete the CityCenter redevelopment. 3. Invest in public improvements, place enhancements, multimodal connectivity, and other placemaking projects within the EDDA. 4. Manage “clean and safe” programs in Downtown. 5. Promote and experiment with tactical urbanism strategies and other programs within the Downtown district with close collaboration with property owners and the Community Development Department (planning and code compliance). 6. Collaborate with the Chamber and City on Englewood and Downtown- specific marketing and events. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 50 Greater Englewood Chamber of Commerce The Chamber brings together and communicates with Englewood businesses. Its strengths are organizing and promoting events, marketing Englewood businesses, and being a voice of businesses to the City and EDDA. The Chamber should work closely and communicate regularly with the Economic Development Division. Six main roles for the Chamber are outlined below. 1.Continue the Chamber’s current independent business programming including the Idea Lab 101 series, Thought Co-Op, networking, and training and information events. 2.Represent the business community on policy issues and initiatives that affect them. 3.Communicate any BRE issues or opportunities to the Economic Development Division and collaborate on developing responses. 4.Refer existing and prospective businesses and entrepreneurs to the Economic Development Division and/or economic partners when assistance is needed. 5.Continue to conduct community events under agreement with the City, and collaborate with the EDDA on Downtown area events. 6.Contract with the City for other specialized services as needed, such as an Englewood marketing campaign. Economic Partner Organizations Englewood is a partner and values the other regional economic development organizations and service providers in the region. 1.Maintain relationships with other EDOs in the South Metro and greater Metro Denver area. It is important for the City to be part of regional conversations to stay relevant and ready for new opportunities. 2.Maintain the list of other economic partners and resources and prioritize involvement based on the City’s needs and the services provided. While each partner organization is important, the City does not have the resources to have the same level of involvement with each organization. The City should consider reframing the list of partners to a list of resources and tailor its engagement or support based on need and priorities. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 51 DEI Strategies Economic development (and government) should serve, value, and benefit people from all backgrounds and identities. Demographic data estimates that approximately 30 percent of the population of Englewood is comprised of people identifying as non-white, Hispanic or Latino, and just over half of the population are female. However, only 12.5 percent of businesses are classified as minority owned by the Census Annual Business Survey. About 11 percent of the population also has some type of physical or cognitive disability. This section identifies some targeted strategies and actions related to modifying existing programs and addressing diversity, equity, and inclusion goals. Small business ownership is an important path to wealth building that should be accessible to everyone. The City should commit resources to expand programs and increase representation of historically underserved people and businesses. 1. Work with partner organizations to identify business leaders and entrepreneurs with more diverse backgrounds and identities who are interested in greater involvement in economic development. The City, Chamber, and EDDA can work together to broaden representation and participation in economic development leadership and program participation. 2. Develop an outreach strategy to first identify and then determine how to engage with organizations representing a more diverse community of economic development stakeholders. There are numerous chambers of commerce and other organizations representing BIPOC (Black, Indigenous, and people of color), disabled, veteran, women, and LGBTQ people. The City and its partners should develop a strategy to engage with key groups with interest in Englewood and alignment with its small business and health care industry clusters. Through this engagement, the City and its partners should strive to gain more diverse representation on boards. New partners may also be able to help the City promote its grant programs, and programs from other agencies, to people who have not had as much access and awareness of existing resources. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 THIS PAGE INTENTIONALLY LEFT BLANK DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 213174_Final Englewood EDS 10-27-22 53 Action Plan The Action Plan shown below is intended to inform the City’s and Partner’s work programs over the next few years. The Action Plan is divided into three sections: •Short Range – Actions suggested to be completed over the next two years. These are generally low cost but high priority items requiring mostly staff time and no other significant costs. •Medium Range – Also important, these actions require more lead time and coordination than Short Range actions. They may also require some contractor or consultant expenses. Medium Range actions are proposed over the three to five year time period. •Long Range – These are more complex and costly items, including major capital improvement projects. These actions are suggested over a 5 to 10 year or longer period but could be done sooner if the opportunity exists and funding is available. No specific order of priority is given within the time ranges of actions to give the City and its partners the flexibility to address them based on resources and specific opportunities. DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 54 Short Range (0-2 Years) Action Notes Strategy Area Lead Organization Resources Optimize the City Economic Development Website. • Update format to reflect current best practices. • Create unique address and home page. • Business Support Lead: City of Englewood Staff or contractor time Designate a City stakeholder representative in the South Broadway Corridor Study. • A transportation corridor study is starting from approximately Mississippi Ave. to Highlands Ranch on South Broadway. • Project will recommend transportation, safety, and placemaking improvements. • Placemaking Lead: City of Englewood Staff time Amend grant programs to allow more eligible costs. • Get input from businesses on where funding would be most helpful. • Add fire protection, energy efficiency, grease traps, and others TBD as eligible costs. • Business Support Lead: City of Englewood Support: Greater Englewood Chamber Staff time Amend event and food truck permitting. • Address feedback from businesses that events and food trucks are difficult to permit. • Business Support Lead: City of Englewood Support: Greater Englewood Chamber Staff time Host an annual lender forum on small business and microlending. • Increase local lender awareness of programs and requirements. • Expand use of microlending to help new entrepreneurs build credit; programs would target historically underrepresented people. • Business Support Lead: City of Englewood Support: Aurora-South Metro SBDC Staff time Develop an outreach strategy to increase representation in Economic Development Organizations (EDOs) and participation in economic development programs from historically underrepresented people. • Identify new partners to engage who represent more diverse and underrepresented people and businesses including BIPOC, LGBTQ, women, veterans, and people with disabilities. • Promote grant and loan programs across these groups to build awareness and access. • Diversity, Equity, and Inclusion Lead: City of Englewood Support: Aurora-South Metro SBDC, Greater Englewood Chamber, EDDA, Mi Casa, and new partners to be identified Staff and partner time Develop a strategy to address safety perceptions in commercial districts. • Newly formed EDDA is developing “clean and safe” programs. • Use existing partners to help people experiencing homelessness access resources. • Placemaking • Business Support Lead: EDDA (downtown) and City of Englewood (downtown and other areas of the community) Staff and partner time Select a new development partner for CityCenter. • Reengage stakeholders for input on project objectives. • Begin developer selection process. • Placemaking Lead: City of Englewood Redevelopment and EDDA Staff and possibly consultant/legal time Define a process for the City and Greater Englewood Chamber to provide input on EDDA projects funded with TIF. • Major investments should have input from stakeholders. • Area of continued collaboration between the three core partners. • Placemaking • Organization Lead: EDDA Support: City and Greater Englewood Chamber Staff time Create a process or communication chain to respond to site selection inquiries and other economic development leads. • Ensure that leads have a person assigned for follow up. • Continued collaboration. • Business Support Lead: City of Englewood Support: EDDA, Greater Englewood Chamber; real estate brokerages Staff time DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic & Planning Systems, Inc. 55 Medium Range (3-5 Years) Action Notes Strategy Area Lead Organization Resources Work with Craig and Swedish Hospitals on local procurement. •Increase economic impact of hospitals by sourcing more services or supplies locally. •Target businesses owned by historically underrepresented people through hospital procurement and DEI offices. •Business Support •DEI Lead: City of Englewood Support: Greater Englewood Chamber Staff time Evaluate feasibility and demand for a business incubator and/or skills development center. •Different models and industries can be explored. •A food & beverage (e.g., Comal in Globeville) or professional/technical incubator/collective like Industry could be explored. •Business Support •DEI Lead: City of Englewood Support: EDDA Staff time, consultant or contractor to further evaluate Develop a policy on balancing redevelopment and preservation of industrial land uses. •Create a more specific policy on what types of industrial land uses should be preserved. •Address in future Comprehensive Plan update. •Focus on job density and tax revenue generation. •Economic Diversity Lead: City of Englewood Staff time Create an improvement plan for Broadway south of Hampden Ave. •Improve safety and aesthetics. •Use the upcoming S. Broadway Corridor Study as a starting point. •Placemaking Lead: City of Englewood and EDDA May identify major infrastructure/plac emaking and safety projects. Identify and implement a manageable number of tactical urbanism projects. •Expand food trucks and pop-up retail. •Look for aesthetic and activity/event projects to activate underutilized areas. •Use tactical urbanism to mitigate impacts of infrastructure and redevelopment projects. •Get input from EDDA board on interest in funding projects . •Placemaking Lead: City of Englewood Support: EDDA and Greater Englewood Chamber Staff time and some minor capital expenditures Create a retail/commercial tenanting and retention strategy. •Support tenanting of CityCenter mixed use space. •A customized strategy is needed that focuses on local/regional businesses rather than a formulaic retail gap analysis. •Evaluate regulatory approaches to disincentivize vacant commercial space. •Placemaking Lead: City of Englewood Support: EDDA, Chamber, CityCenter Developer Staff, partner, and consultant time DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9 Economic Development Strategic Plan 56 Long Range (6-10 Years +) Action Notes Strategy Area Lead Organization Resources Evaluate the need for an additional economic development staff person. •More resources to support business retention and expansion programs, and other functions as needed. •If funding is available, determine if there is enough business activity to justify another position. •Business Support Lead: City of Englewood Budget for additional staff position Monitor list of partners and prioritize City’s involvement. •City engages with at least 11 economic partners. •Review list of partners and roles periodically to determine most effective allocation of time/ resources. •Broaden partners to include representation from historically underrepresented people. •Organization Lead: City of Englewood Staff time Shift focus from CityCenter to other catalytic redevelopment sites. •Assuming CityCenter is on a sustainable path to completion. •Leverage catalytic impact of CityCenter to advance other redevelopment projects. •Placemaking •Economic Diversity Lead: City of Englewood Support: EDDA TBD based on projects Continually look for opportunities to implement placemaking projects as funding allows. •Major capital project needs include: Old Hampden reconstruction; S. Broadway/US-285 Bridge; Englewood Parkway safety/multimodal improvements; and Oxford Station Bridge. •Placemaking Lead: City of Englewood Support: EDDA (Downtown placemaking) Capital projects funding DocuSign Envelope ID: C89A7C85-AB89-4845-8400-0D9711F9B4C9