HomeMy WebLinkAbout2023-111-12/05/2023-ADOPTING AN UPDATE TO THE ECONOMIC HEALTH STRATEGIC PLAN FOR THE CITY OF FORT COLLINSRESOLUTION 2023-111
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING AN UPDATE TO THE ECONOMIC HEALTH STRATEGIC PLAN
FOR THE CITY OF FORT COLLINS
WHEREAS,on September 5,2006,the City Council adopted Resolution 2006-097,
adopting the City’s Economic Action Plan;and
WHEREAS,on February 15,2011,the City Council adopted Resolution 2011-015,
adopting revisions to “City Plan,”the City’s comprehensive plan,including a series of Principles
and Policies related to economic health;and
WI-IEREAS,on November 15,2011,the City Council adopted Ordinance No.149,2011,
amending Chapter 2 of the City Code adding a new Section 2-506 to establish Sustainability
Services as a new City service area;and
WHEREAS,on June 26,2012,the City Council adopted Resolution 20 12-044,adopting
the City’s Economic Health Strategic Plan (the “2012 EHS Plan”);and
WHEREAS,in 2012,the Economic Health Office became a part of Sustainability Services;
and
WHEREAS,on March 25,2014,the City Council considered and discussed the City of
Fort Collins 2015-16 Strategic Plan and provided input to staff regarding the content of the plan;
and
WHEREAS,in July 2014,City staff began working on an update to the 2012 EHS Plan as
an extension of the City’s previous economic health planning efforts and in order to integrate as
part of the City’s economic health planning efforts the concepts and priorities established in the
City of Fort Collins 2015-16 Strategic Plan and align the priorities of economic health planning
efforts with the priorities of Sustainability Services;and
WHEREAS,the City’s Economic Advisory Commission provided input to staff in
connection with the planning process,and at its meeting on February 18,2015 and again on May
20,2015,voted to recommend adoption of the update to the Economic Health Strategic Plan;and
WHEREAS,on June 2,2015,the City Council adopted Resolution 2015-059,adopting the
City’s updated 2015 Economic Health Strategic Plan (the “2015 EHS Plan”);and
WHEREAS,City staff has been working on an update to the 2015 EHS Plan to address the
changed economic circumstances of the community of Fort Collins with the goal of fostering a
healthy,equitable,and resilient community where people and businesses can thrive;and
WHEREAS,after extensive public outreach,City staff has produced the 2023 update to
the Economic Health Strategic Plan,attached hereto as Exhibit “A”and incorporated herein by
this reference (the “2023 EHS Plan”);and
WHEREAS,the City Council believes that the adoption and implementation of the 2023
EHS Plan will make clear the purpose and reasons for economic health planning and activities in
the City of Fort Collins and assist the City in collaborating with academia,business interests,and
non-profit and governmental entities to promote a healthy,sustainable economy reflecting
community values;and
WHEREAS,for the foregoing reasons,the City Council wishes to approve the 2023 EHS
Plan and,in so doing,to supersede and replace the 2015 EHS Plan.
NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1.That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2.That the City Council hereby approves and adopts the 2023 EHS Plan.
Section 3.That the 2023 EHS Plan shall supersede and replace in all respects the 2015
EHS Plan.
Section 4.That the City Council hereby directs the City Manager to provide the City
Council,no less frequently than annually,a report on the status of the implementation of the 2023
EHS Plan,the successes and outcomes from the implementation of the 2023 EHS Plan,and any
recommendations for interim modifications to the 2023 EHS Plan.
Passed and adopted at a regular meeting of the Council of the City o~ollins this 5th
day of December,2023.
-
ATfES
City Clerk
EXHIBIT A TO RESOLUTION 2023-111
City ofFortCoLlins
Health
ECONOMIC HEALTH
STRATEGIC PLAN
2023
0
S
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EXHIBIT A TO RESOLUTION 2023-111
INTRODUCTION
Fort Collins is at a time of transformation and can no
longer rest on our laurels and take for granted the
unique reasons people choose to live and/or work
here.In recent decades,Fort Collins experienced
steady population growth,while business and
household income growth lagged.Strategic plans are
meant to be forward looking,while also underpinning
resiliency.Fort Collins has not been immune to impacts
from climate change,COVID-19,political divide,and
racial injustice.
There is no one-size-fits-all approach,and as we look
to the future,Fort Collins’economic health strategy
must be a pragmatic,people-centered approach
grounded in economic competitiveness,racial equity,
and climate action.We will NOT achieve racial
and social equity or climate action goals without
economic inclusion and growth.AND that growth
will be neither as robust nor as durable without
understanding the impacts of affordable housing,
childcare,air quality,and climate emergency on our
community.Strategic,intentional management of
projected growth that is economically prosperous,
socially equitable,and environmentally sustainable
can be achieved.Why the words “strategic,intentional
management of projected growth?”As mentioned
above,Fort Collins has experienced steady population
and job growth,while businesses and household
income growth have lagged.A vibrant economy is
the result of deliberate choices and actions that aims
to improve the economic well-being (through quality
jobs,safe and stable housing,support of startups to
legacy-owned businesses,etc.)and quality of life for
our community.
Although this plan cannot address every economic
challenge facing Fort Collins,by leading with a
people-centered approach,it can position Fort Collins
residents and businesses for a more resilient and
prosperous future.
Language matters.The importance of language is
critical when discussing race,ethnicity,gender,sexual
orientaton,and gender identity.In this context,the
usage of the terms like “BIPOC”(Black,Indigenous,
and Peop e of Color)is more descriptive than people
of color while also acknowledging that people of color
face varying types of discriminat on and prejudce.
Although terms like “marginalized”and “minority”
might be factually correct,it lacks the peop e-first
approach,while also carrying a suggestion of being
“less than.”A “people-first”approach acknowledges
that every ndividual and community is unique,diverse,
and with dfferent lived experiences that contribute to
our community.Our intention is not to be exclusionary
or label but to acknowledge the disparities,systemic
racism,and prejudices that BIPOC and women have
historically endured.
I di.
I
Economic Health Strategic Plan
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VISION STATEMENT
Fort Collins is a healthy,equitable,and resilient community where people and businesses can thrive.
THE UPDATED ECONOMIC HEALTH
STRATEGIC PLAN AIMS TO:
1.Redesign economic health to positively address
environmental,social,and economic resilience
within Fort Collins.
2.Evaluate and develop a “both/and”approach to
supporting Main Street businesses (locally owned
that provides goods and services in Fort Collins)
and Primary Employers (businesses that generate
over half their revenue from outside the City and
bring new dollars nto the community).
3.Assist in the development,access,and resilience
of specific programs to support historically
underserved businesses in the community
(such as BIPOC,women,low-income,and
veteran-owned).
4.Redefine the City’s role in supporting workforce
development that supports diverse job
opportunities for the community.
5.Reaffirm the City’s commitment to equity and
inclusion leading with race and applying it to
economic resilience.
6.Champion the role of innovation in designing
and scaling solutions to address local and global
challenges and opportunties in climate and life
sciences.
GUIDING PRINCIPLES
The guiding prnc pies play a vital role throughout
the plan,ensuring alignment with values and vision,
aiding decision making,and maintaining consistency
and accountabilty.Each of the outcome areas in the
plan is directly nked to one of the guiding principles,
establishing them as the plan’s foundation.This
approach ensures that all actions and direction taken
are purposeful,consistent,and in line with long-term
success.
Sustainability -Enhance the social,economic
and environmental resiliency of our community,
and the City organization,for present and future
generations.Where opportunities for all to
participate in the success of our economy,to
act to address the needs of our most vulnerable
community members,to prepare for disruptive
events and to mitigate our impacts on the
environmenti Where everyone can afford to live
and work in Fort Collins,ensuring good quality jobs,
education for the future,and housing affordability.
Community Belonging -Create a sense of belonging
and inclusion,integrating principles of diversity,
equity,inclusion,and access (DEIA)to support
the retention of diverse talent,as well as small
businesses that make our community uniquely Fort
Collins.We strive to provide equitable access to
opportunities,services and resources,and to create
an inclusive environment for all members of our
community.
•Adaptation -Ability to learn,prepare for
uncertainties,act responsively and move forward
with resilience toward recovery and renewal.
1 Fort Collins City Plan,201
City of Fort Collins 2023
EXHIBIT A TO RESOLUTION 2023-111
FIVE-YEAR SMART GOALS
People success and business success is community BACKGROUND
success,there is not either/or in this scenario.We
The Economic Health Strategic Plan intersects withenvisionaplacewhereourcommunityhaseconomic
and takes nspiration from existing City of Fort Collinschoiceforupwardmobilityandwealthgenerationto
create a resilient,sustainable future.With these factors community plans:
n mind,we have identified fundamental goals.•Resilient Recovery Plan —a community plan to
These goals serve as the plan’s fundamental,guide long-term response and rebuilding from the
COVID-19 pandemic.overarching outcomes the Economic Health Strategic
Plan hopes to achieve.All focus areas in the plan are •Fort Collins City Plan —comprehensive plan that
designed to contribute to the achievement of these guides how the community will grow and travel in
central goals.In essence,the focus areas are like the the next 10 20 years.
building blocks that collectively work towards realizing
these four fundamental SMART (specific,measurable,•Our Climate Future —a plan to simu taneously
achievable,relevant,time-bound)goals:address climate,energy,and waste goals whIe
improving our community’s equity and resilience.
Goal 1:Increase business owner representation to
match Fort Collins metropolitan statistica •Housing Strategic Plan —a vison that everyone in
area demographics.Fort Collins has healthy,stable,housng they can
afford.
Goal 2:Increase overa business survivability longer
than five years from 45%to 50%.•Equity and Inclusion Plan —a plan to address
and further embed equity and inclusion into City
Goal 3:Add 1,800 new jobs in targeted,traded sectors processes and projects.
(e.g.life scence and climate technology).
Goal 4:Increase representation in employment within
targeted,traded sectors (e.g.life science and
climate technology).
*RESILIENCY
The Our Climate Future Plan defines
resiliency as the capacity to prepare
our human and natural systems to
respond and adapt to changes and
disruptions of various scales that
affect our ability to thrive.Taking
that one step further for this body
of work,the Economic Development
Administration defines economic
resilience as the ability to bounce
back from shock,disrupton,or stress.
Economic Health Strategic Plan
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WHY A REVISIT?
Prior to this plan,the City focused on business
retention and expansion (BRE)of primary employers,
as well as incubation efforts (previously known
as “Grow Your Own”in the 2015 Economic Health
Strategic Plan)through partnerships with Larimer
Small Business Development Center,the Fort Collins
Area Chamber of Commerce,Downtown Development
Authority,Downtown Creative District,Visit Fort
Collins,and Innosphere Ventures.In recent years,the
Multicultural Business &Entrepreneur Center (MBEC)
was developed to provide multilingual business
support for our entrepreneurs and small businesses.
We cannot turn a blind eye to the fact that other
communities’strategy is to attract Fort Collins
companies to their community because of the benefits
these primary employers provide (good quality jobs,
capita investments to their business and community,
tax base,community support).Eighty percent of new
jobs and capital investments come from companies
that already exist in the community.However,in order
to meet community goals such as those around circular
economy in Fort Collins,we must be intentional in a
plan to market and support supply chain businesses
and partners that would benefit from existing Fort
Collins businesses waste and byproducts for reuse
and a sharing economy.This is not about incentivizing
companies to Fort Collins but shaping our economic
resilience by intentionally sharing and aligning our
community values and goals with new businesses
exploring locations.
TIMELINE OF EHO AND ADOPTION OF THE ECONOMIC HEALTH STRATEGIC PLANS
2012 Vision
Fort Collins:Crafting a dynamic
culture of innovation and
stewardship to cultivate quality
of place and economic health.
2023 Vision
Fort Collins is a healthy,
equitable and resilient
community where people
and businesses can thrive.
Resolution 2004-006
established Economic
Vitality &Sustainability
Action Group
Resolution 2011-015 City
Plan Revisions -Principles
and Policies related to
Economic Health
Resolution 2012-044
Economic Health
Strategic Plan
Resolution 2023-111
2023 Economic Health
Strategic Plan
2006 Vision
A healthy economy
reflecting the values of
our unique community in
a chang ng world.
Resolution 2015-059
Updated 2015 Economic
Health Strategic Plan
2015 Vision
Promote a healthy,
sustainable economy
reflecting community values.
..
Resolution 2006-097
Economic Action Plan
.
Ordinance No.149
2011 establ shment of
Sustainability Service Area
City of Fort Collins 2023
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FOCUS AREAS
Each outcome tied to these objectives has significance
in ensuring a healthy,equitable,and resilient Fort
Collins economy:
•Approach Business Retention,Expansion and
Attraction Thoughtfully,helping targeted Primary
Employers stay and grow in Fort Collins while
ensur ng community-wide economic stability and
employment opportunities;
•Ensure Small Businesses Thrive,supporting our
vital “Main Street”businesses contribute to both
the character and economic resilience of Fort
Collins;
•Support Talent and Workforce,ensuring all
businesses have access to good talent and people,
while community members have access to good
jobs and employers;and
•Re-position Innovation,fostering the life scence
and climate tech cluster ecosystems while
championing sustainable businesses and a local
circular economy.
These four focus areas exist because a healthy
economy is interconnected and cannot be achieved
in a silo.Uniquely Fort Collins Man Street businesses
need Primary Employer companies to bring new
dollars into a community,to employ locally and spend
disposable income with them.Primary employers
need main street businesses,not only for their local
consumer goods and services,but also for the culture
of community it creates.A community is built on sales
and property tax dollars that fund local amenities in
the natural and built environment,which becomes part
of the Fort Collins brag book to help recruit and retain
a strong community and workforce.The cycle cannot
be robust if the focus is one over the other;Main Street
and Primary Employer businesses working together
enhances the local community.
The full ecosystem of a healthy economy includes
a healthy mix of Primary Employer and Main Street
businesses,no matter the size.
Entrepreneurship,business ownership,and home
ownership have a direct link to wealth creation
and generational wealth distributon.With recent
growth causing more apparent housing insecurity,
homeownership slips further out of reach,causing
the opportunity for wealth building through
homeownership to also slip further away.This leads us
to look to entrepreneurship and business ownership as
a viable opportunity for community members to bu d
generational wealth.
*GENERATIONAL WEALTH—any kind of asset that is passed down from one generation to the next.This includes
cash,investments such as stocks,bonds,real estate,and businesses.
With that said,many business owners,especially BIPOC and women bus ness owners,personally finance their endeavors.
With little to start with in the first place,launching a business can be harder than for white entrepreneurs in our community.
The typical white family has eight times the wealth of the typical Black family and five times the wealth of the typical
Hispanic family.2 The aggregate low levels of wealth among Black and Hispanic populations not only d minished their ab ity
to self-invest but limited their appeal to funders.3 Additionally,even with the passing of the Women’s Business Ownership
Act of 1988,obtaining funding can be challenging for women entrepreneurs.They are lower credit risks than man,yet
typically are approved for smaller amounts and charged more.
These acknowledgements help guide economic development in Fort Collins to the holistic approach including identifying
systematic barriers such as access to resources (information,funding,human and social capital,etc.).
2 Federal Reserve,Survey of Consumer Finances 2022
3 Federal Reserve,Survey of Consumer Finances 2022
6 Economic Health Strategic Plan
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FIGURE 1:PRIMARY EMPLOYERS AND SMALL BUSINESS CONTRIBUTION
THE CONNECTIONS BETWEEN BUSINESS &COMMUNITY
PROPERTY PRIMARY EMPLOYERS*GOODS
~or exports ÷
SALES TAX “TRADED SECTORS”imports SERVICES
I ch P$p~A°A I
aritableCOMMUNITYASSETS
.rnTn’c..schools,roads,parks +natural JOBS MAI N STREET 4-’
______BUSINESSES**II II 4,____
retail,resturants ______
I~II areas,culture +arts _____and services
LARY _____GOOD QUALITY OF LIFE _____
o Qii’zii*~BRINGS TALENT AN
COMPANIES TO
IN FORT COLLINS,CO
*PRIMARY EMPLOYERS or “TRADED SECTORS”are companies that primarily focus on exporting the
majority of their goods and services outside the local economy.These businesses can include manufacturers,software
developers,marketing firms,tech start-ups,etc.
MAIN STREET BUSINESSES are typically small businesses whose primary customer base is local,and they
predominantly serve the needs of the local community.These businesses can include retail stores,restaurants,dryer
cleaners,salons,auto-shops,etc.
City of Fort Collins 2023
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ENGAGEMENT SUMMARY
METHODOLOGY
Over seven months,the Economic Health Office and its
consultant,Hickey Global conducted Interviews,small
group discussions,launched an online questionnaire,
and engaged community members at two large public
events.
•Interviews:Conducted by both Hickey Global and
the Economic Health Office.These cons sted of
1-on-i interviews with business proprietors and
leaders in Fort Collins,involving individuals who
spoke English and Spanish.
•Small Group Discussions:Three virtual events
featuring small businesses,emp oyers,so opreneurs,
and business partner organizations.
•Questionnaire:54 responses
•Community Events:The Economic Health Office
hosted an outreach table at the Lagoon Concert
Series and Bike-to-Work Day.In total,Economc
Health spoke with 265 event attendees.
It is also important to note that two other plans
were taken into consideration that also saw heavy
outreach and engagement in the last two years.The
Economic Recovery Strategy from Reignite Northern
Colorado in 2021 and the City of Fort Collins Resilient
Recovery Plan 2022 both garnered a large amount of
engagement from both businesses and community
members that are referenced to understand the needs
of the community to improve the economic health of
Fort Collins.
The Fort Collins Economic Health Office is appreciative
of the time and consideration provided by all the
stakeholders who participated in the engagement
process.Through these engagement efforts city staff
gathered input from:
•Community members and leaders
•Business leaders representing a broad range of
economic sectors
•Employees and managers working at Fort Collins
businesses
•Public sector officials from local,county,and state
governments
•Educational leaders from K-12 through
postsecondary institutions
•Small business owners and employers
•Artists and art advocates
•Nonprofit organizational leaders
•C-Suite executives and national experts in
economic development
Hospitality and tourism experts
*See the full engagement report and SWOT analysis in the appendix.
Economic Health strategic Plan
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SWOT THEMES
The following SWOT results have been updated to consider both the engagement conducted by Hickey Global as
well as the second phase of engagement.
STRENGTHS WEAKNESSES
•Educated workforce and strong educational •Cost of housing
institutions Lack of affordable commercial space
•Beautiful community assets and amenities and site-ready land
•Quality of place •Insufficient workforce size
•Diversity of economy •Lack of diversity
OPPORTUNITIES THREATS
•Upskill and reskill programs •Perception that Fort Collins is not business
friendly
•Retaining talent
•Fees and policies to build,expand,or open
•Branding and messaging consistency,a business (cost of doing business)
City-wide and regionally
•Not embracing or supporting diversity in our
•Industry support of quality jobs within Chips community and workforce
Zone,life and bio science,and climate tech!
circular economy
City of Fort Collins 2023
EXHIBIT A TO RESOLUTION 2023-111
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Economic Health Strategic Plan
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City of Fort ColItis 2023
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FOCUS 1
APPROACH BUSINESS RETENTION,EXPANSION &ATTRACTION
OF PRIMARY EMPLOYER BUSINESSES THOUGHTFULLY
Fort Collins is strengthened by diversity of industries.
Industry diversity is a measure of how evenly
employment is distributed between 11 industry clusters
found in the typical metropolitan statistical area
(MSA).Markets with high diversity are considered
to be more resilient in the face of adversity such as
recessions and layoffs.Fort Collins has above-average
Industry Diversity (ranked 150 out of the 384 Metro
MSA5).The top identified clusters include Food &
Beverage Manufacturing,Machinery Manufacturing &
Production Technology,Information Technology,Life
Sciences,Metals,Plastics,Mineral Product &Chemicals,
Professional Services &Distrbution,and E-Commerce.
—Lightcast
Focusing business retention,expansion,and attraction
efforts on these targeted industries supports the
growth of Fort Collins’economic base.This growth
creates jobs and imports new money more and
income into the community.In turn,these new dollars
support small businesses and provide people more
opportunities to thrive.
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OUTCOME 1.1
POLICY AND STRUCTURAL SHIFTS CREATE
A GOOD BUSINESS ENVIRONMENT.
EXAMPLE INITIATIVES
•Engage in intentional and sustained coordination
and alignment between City departments and
partners at the city,county,and state level to
bolster business resilience and growth through
programs and policies that are interconnected
impacts of housing,land use,and transportation on
Fort Collins business environment.
—Deploying economic impact analysis for City
policy changes and new programs that impact
businesses and employment opportunities.
•Support and align City of Fort Collins assistance
for businesses —including financing,and technical
programs (from development to accessibility)to
assist Fort Collins entrepreneurs;navigation of city
processes,including permitting,access ng financial
resources and grants;and engaging in po icy.
-Engage and support process improvements
such as development and conceptual reviews.
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Economic Health strategic Plan
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OUTCOME 1.2
STRATEGIC BUSINESS RETENTION,
EXPANSION,AND ATTRACTION (BREA)
EFFORTS STRENGTHEN AND DIVERSIFY
OPPORTUNITIES AND ECONOMIC
RESILIENCE.
EXAMPLE INITIATIVES
•Establish a sustainable,data-driven program
to respond to the needs of existing employers
and industries to create a feedback loop for the
City and private industry.Work with business
and institutional partners to maintain and grow a
database of existing businesses in Fort Collins with
ongoing data collection and analysis mechanisms
to keep a pulse on the vitality of local businesses.
-Structure business visits to develop a strong
understanding of the overall needs of local
businesses,their challenges to operate
successfully,and their potential to remain and/or
expand in Fort Collins.
•Target recruitment of companies that align the
City further its economic,social,and environmental
goals.Examples of companies would include those
that can help advance a circular economy,provide
high-quality employment opportunities,and many
others.
•Build the region’s target supply chain through
specia zed industry research aimed at focused
recrutment efforts on Fort Collins’target
ndustres such as circu ar economy manufacturing,
life sciences,and cImate tech.
•Leverage and market Fort Collins and the region as
a leader in the life science and clean tech sectors.
Strengthen through data,research,and convening
those that lead the industry a ready.
OUTCOME 1.3
ATTRACT CIRCULAR ECONOMY BUSINESS
SECTORS FOR A MORE RESILIENT
COMMUNITY.
EXAMPLE INITIAT VES
Develop internal infrastructure and establish
standardized practices to effectively transition Fort
Collins towards a circular economy through:
Creating an asset map of existing circular
ecosystems,their gaps,and potential new
ecosystems.
—Defining measurable goals and metrics that
will enable tracking Fort Collins’progress in
transitioning to a more circular economy.
Focus business development efforts to business
supply chain companies within the value chain to
support existing Fort Collins businesses,current
and future,recirculate and rethink products
and processes to eliminate and reduce waste
(alignment with Outcome 1.2)
•Leverage the City’s leadership role to grow the Fort
Collins’circular economy and encourage others to
drive the circular economy forward.
—Review purchasing policies to support circular
activities through its sustainability practice.
City of Fort Collins 2023
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FOCUS 2
ENSURE SMALL BUSINESSES THRIVE
Small businesses,defined as people and organizations
that employee 50 or less,comprise 98%of Fort Collins
businesses.This definition also includes solopreneurs,
creatives and nonprofits as small businesses.These
businesses face significant challenges,with a 20%
failure rate within the first two years,45%within
five years,and 65%within ten years.To ensure their
survival and growth,it is crucial to provide early
support and ongoing assistance.4 Small businesses
were impacted the most by the pandemic,and at the
time of ths plan,may still be in recovery mode and
made a priority in the Recovery Plan.
Local,unique,and creative businesses (also known
as Main Street Businesses)nurture the vibrant
and artistic atmosphere that makes Fort Collins so
appealing to residents and visitors alike.Supporting
and retaining these imaginative originators,
innovative problem solvers,and resourceful local
entrepreneurs is vital to community resiliency and
critical for talent recruitment and retention.
Entrepreneurs thrive when they have access to
resources such as new business incubators,existing
business accelerators,and networks that expand their
knowledge and skills.These drivers,alongside capital
or finance programs,are critical for developing and
retaining innovative problem solvers.
Nurturing environments like these are instrumental in
helping entrepreneurs refine their ideation,develop
robust business models,and gain the skills necessary
to thrive in competitive markets.
Meeting the needs of a broad spectrum of businesses
increases the potential for significant positive
outcomes in community growth and development.This
could include programming for an aspiring solopreneur
whose primary language is not English or working
with existing industries to re-shore manufacturing
production through national programs,and everything
in between.The enormity of impact is directly
proportional to the range of representation.
4 Bureau of Labor and Statistics
OUTCOME 21
SMALL BUSINESSES HAVE ACCESS TO TOOLS
AND RESOURCES NEEDED TO SUCCEED.
EXAMPLE NITIAT VES
Support access to capital -Access to capital
continues to show up as one of the largest barriers
to entrepreneurship.
—Re-launch of a revolving loan fund product,
providing access to capital for businesses,giving
Main Street Businesses (including childcare)
the ability to grow while also preparing for
conventional loans in the future.
—Leverage the City’s Urban Renewal Authority
(URA)tools to support not only the business
being redeveloped,but all businesses within
the district for greater alignment and success
opportunities.
One-stop shop hubs located throughout the City
with liaisons trained in multiple departments needs
that can walk businesses through the process of
Sales Tax/Business License,development and
building review,Utilities,resources,and more.
-Streamline the development and redevelopment
process to provide greater transparency.
—Having locations outside traditional City
buildngs provides accessibility and transparency,
making the processes more human-focused and
easier to navigate.
Ongoing Support and Partner Local campaign
to include communication and opportunities to
pivot customer behavior to support local retailers,
artisans,creatives,and service providers.
14 Economic Health Strategic Plan
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OUTCOME 2.2
FORT COLLINS BUSINESSES ARE RESILIENT
READY.
EXAMPLE INITIATIVES
•Identify resiliency resources and gaps,to assist
businesses prepare for man-made or natural
economic downturn or disaster.
-Example resources include the Multicultural
Business and Entrepreneur Center (MBEC),
Sustainable Business Program,and the Green
Business Tracker.
—Develop programs with partners such as a
Legacy Business Program,a Business Emergency
Plan,and a Business Climate Adaptation Plan to
support businesses proactively identify threats
and solutions to ensure resiliency.
•Improve access and education to certifications
and programs for underrepresented businesses to
increase procurement and funding opportunities
for local business owners.
OUTCOME 2.3
THE CREATIVE SECTOR IS CELEBRATED AND
SUPPORTED FOR THEIR CONTRIBUTION TO
THE FORT COLLINS COMMUNITY.
EXAMPLE INITIATIVES
•Collaborate and support Cultural Services
programming to strengthen the creative sector
through capacity building,business acumen,and
education (storytelling the value proposition).
-Connect entrepreneurs in the creative sector
with the Multicultural Business and Entrepreneur
Center for additional support and access to
resources.
—In partnership with City of Fort Collins Cultural
Services and Sales Tax and Colorado State
University,analyze and share the economic
impact of the creative industries in Fort Collins,
as a premiere cultural destinationn.
—With community partners,create space to
incubate or strengthen existing retail,food,
or creative business,allowing them to test
concepts,conduct market research,and get
feedback on their products or ideas.
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City of Fort Collins 2023
FOCUS 3
EXHIBIT A TO RESOLUTION 2023-111
SUPPORT TALENT AND WORKFORCE
Fort Collins is home to a highly educated and skilled
workforce.Sixty-eight percent of the Fort Collins
population aged 25 and older have a post-secondary
education,compared to 54.2%in Colorado and 45.9%
nationally.
The Colorado Workforce Development Council
developed the Colorado Job Quality Framework,in
which they encourage communities to attract and
grow a variety of businesses committed to job quality
to improve the economic well-being and quality of life
for their community.”
We recognize the multitude of barriers preventing
people from obtaining education and accessing
employment opportunities.These include opportunity
awareness,transportation,housing affordability,and
childcare affordability and availability.Fort Collins
must maintain a competitive inventory of quality jobs
for community members to live,work and play in
their own community.A shorter commute time means
enhanced workforce efficiency,better attraction
and retenton of talent,economic inclusivity and
mobilty,infrastructure efficiency,and the reduction of
environmental externalities.
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WHY ARE QUALITY JOBS IMPORTANT TO
HAVE IN FORT COLLINS?
It’s clear that job quality impacts employees’financial
health.Additonally,quality jobs give workers
economic choice:allowing for other community
contributions such as social support,a sense of
community,economic mobility,physical and mental
health,and climate resiliency.
Colorado ranks as one of states with the largest
cost burden for childcare for married couples
with children after factoring both the price of
care and median income in each state,and this is
exacerbated for single parent households.
The mean travel time to work is 20.6 minutes.Travel
commute times are indicative of certain aspects
of local economic health including availability
of job opportunities,housing affordability and
accessibility,transportation challenges,economic
disparities,and environmental impact.
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Economic Health Strategic Plan
EXHIBIT A TO RESOLUTION 2023-111
OUTCOME 3.1
ACCESSIBLE CAREER PATHWAYS MEET
NEEDS OF EMPLOYERS AND EMPLOYEES,
TODAY AND IN THE FUTURE.
EXAMPLE INITIATIVES
Leverage opportunities and partnerships to
advance strategic workforce programs aimed at
enhancing and future-proofing the workforce’s
resilience in an evolving economy.
—Support the dynamic landscape which includes
the progress of artificial intelligence technology
and the shifting nature of occupations due to the
emergence of new technologies.
-Continue to support and advance NoCo Works,
a regional collaboration for workforce and talent
development in northern Colorado,spanning
Larimer and Weld Counties.
OUTCOME 3.2
DIVERSITY,EQUITY,INCLUSION,AND ACCESS
(DEIA)IS GOOD BUSINESS.
EXAMPLE INITIATIVES
•Leverage existing and emerging work by industry
and community to foster an inclusive community
(within the business and/or organization,as well as
throughout the community).
•Develop a platform that matches underrepresented
and underserved students to internship or
apprenticeship opportunities throughout the city
and region’s leading innovative companies.
—Provide valuable experiential learning
opportunities and connections to both the
student and local businesses creates talent
retention possibilities,as well as breeds
innovation.
•Encourage and support continuous learning for
civil conversations and dialogue around DEIA and
lived experiences.
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City of Fort Collins 2023
EXHIBIT A TO RESOLUTION 2023-111
FOCUS 4
REPOSITION INNOVATION
To stay competitive in a post-pandemic economy,
certain industries must be elevated and supported to
continue the resiliency and strength of the community.
The life sciences and climate technology (climate
tech)industries,including research,development
and manufacturing activities that are vital components
of any thriving economy.
Fort Collins is equipped with the right talent coming
from our local educational institutions,including a
major land-grant university,Colorado State University.
This brain trust in the northern Colorado region can
help solve large global issues in the fields of health and
climate.Fort Collins produces the highest percentage
of awarded degrees in Biological and Biomedical
Sciences and overall,most awarded degrees in
Agricultural,Animal,Plant,and Veterinary Science
compared to its peer communties.
OUTCOME 4.1
TARGETED CLUSTERS SPURS INNOVATIVE
SOLUTIONS TO MEET COMMUNITY GOALS.
EXAMPLE INITIATIVES
•Promote the development and tech transfer
of clean technology happening locally with
institutional partners such as Colorado State
University’s Powerhouse and Innosphere Ventures
to meet Our Climate Future (OCF)goals.
•Leverage opportunities to innovate and support
local semiconductor manufacturers,including
efforts towards the reduction of greenhouse gas
emissions operations that align with City OCF and
the company’s sustainability goals.
*LIFE SCIENCES includes the research
and development,tech transfer,and
commercialization of biological sciences,
such as pharmaceuticals,biotechnology,
medical devices,and others.
**CLIMATE TECH is recognized as
new business models and technologies
that mitigate the impacts and key drivers
of global greenhouse gas emissions
that attribute to climate change.While
cleantech is described as new business
models or technologies that increases the
performance,productivity or efficiency of
production while minimizing impacts on
the environment.
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18 Economic Health Strategic Plan
I
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EXHIBIT A TO RESOLUTION 2023-111
OUTCOME 4.2
LEVERAGE AND ENGAGE THE REGIONAL
ASSETS THAT DRIVE INNOVATION.
EXAMPLE INITIATIVES:
Map regional assets such as wet laboratory (wet
Iab*)space that drives innovation for bio-and life
sciences,as many companies seek to locate near
Tier]Research universities and institutions (such
as Federal laboratories).
*WET LAB SPACE are laboratories wherechemicals,drugs,or other material or biological
matter are tested and analyzed requiring water,direct
ventilation,and specialized piped utilities.The inventory
of physical wet lab space is significant because these
specially designed and controlled laboratories must
meet certain criteria for life science activities to
properly occur.
•
——~—
CONCLUSION
“THE WHY”
The Economic Health Strategic Plan
is broad and cross-cutting (economic,
social,and environment)in its approach
purposefully,as there will continue
to be tensions and tradeoffs as our
local economy is impacted by outside
influences.This plan acknowledges that
there are things outside of our control
and the Plan focuses on the long-term
strategy development to give the
community agency over our economic
future for a healthy,equitable,and
resilient community where people and
businesses can thrive.The four focus
areas within the plan were selected
because a healthy,resilient local
economy cannot be achieved in a silo —
the intersection of people,planet and
prosperity are at the center to enhance
community resilience and allow flexibility
to address changing conditions.--t
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