upstate colorado board of directors investor partner report · 2017. 3. 17. · upstate colorado...

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2017/ INVESTOR PARTNER REPORT MARKET The Region’s Competitive Advantages to Promote Business Attraction/ Retention FACILITATE Private Business Job Growth and Investment CONNECT Government/Private Sector to Improve Capacity for Economic Development ADVOCATE On Behalf of Our Customers and Clients Hans Jespersen, Chair Vice President of Vestas Blades America Paul Knapp, Vice Chair Greeley Branch President for Bank of Colorado Wendy Sparks, Treasurer Chair Operating Officer for Banner Health Medical Center Tom Haren Owner and President of AGPROfessionals, LLC. Jason Brancel Chair Executive Officer at Agfinity Inc. Mike Freeman Weld County Commissioner Steve Moreno Weld County Commissioner Mike Finn Council Member for the City of Greeley Roger Knoph Owner of EnviroTech Services Matt LeCerf Town manager for the Town of Frederick Kristie Melendez Mayor of the Town of Windsor Tom Norton Mayor for the City of Greeley Robert Schutzius Relationship Development and Strategy Manager at Anadarko Petroleum Corp. 2017/ UPSTATE COLORADO BOARD OF DIRECTORS UPSTATE COLORADO STAFF: SPECIAL THANK YOU TO OUR OUTGOING BOARD MEMBERS: Richard C. Werner President & CEO Cathy Schulte Vice President & EZ Administrator Ray Knapp Chief Financial Officer & RLF Director Rachel Carnes Community Support Coordinator Stephanie Moehlenpah Grants Coordinator Barbara Kirkmeyer Weld County Commissioner Kent Brown Town Administrator for the Town of Milliken Mike Hart Town Administrator for the Town of Berthoud 822 7th Street / Suite 550 Greeley, CO 80631 Phone (970) 356-4565 Fax (970) 352-2436 www.upstatecolorado.org /Ground-breaking ceremony for Agilent Technologies’ new pharmaceutical manufacturing facility in Frederick

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Page 1: UPSTATE COLORADO BOARD OF DIRECTORS INVESTOR PARTNER REPORT · 2017. 3. 17. · Upstate Colorado Leadership Council Programs Through the “Pitch Deck” program Upstate works to

2017/ INVESTOR PARTNER REPORT

MARKET

The Region’s Competitive Advantages to Promote Business Attraction/Retention

FACILITATEPrivate Business Job Growth and Investment

CONNECT

Government/Private Sector to Improve Capacity for Economic Development

ADVOCATE

On Behalf of Our Customers and Clients

Hans Jespersen, ChairVice President of Vestas Blades America

Paul Knapp, Vice ChairGreeley Branch President for Bank of Colorado

Wendy Sparks, TreasurerChair Operating Officer for Banner Health Medical Center

Tom HarenOwner and President of AGPROfessionals, LLC.

Jason BrancelChair Executive Officer at Agfinity Inc.

Mike FreemanWeld County Commissioner

Steve MorenoWeld County Commissioner

Mike FinnCouncil Member for the City of Greeley

Roger KnophOwner of EnviroTech Services

Matt LeCerfTown manager for the Town of Frederick

Kristie MelendezMayor of the Town of Windsor

Tom NortonMayor for the City of Greeley

Robert SchutziusRelationship Development and Strategy Manager at Anadarko Petroleum Corp.

2017/ UPSTATE COLORADO BOARD OF DIRECTORS

UPSTATE COLORADO STAFF:

SPECIAL THANK YOU TO OUR OUTGOING BOARD MEMBERS:

Richard C. WernerPresident & CEO

Cathy Schulte

Vice President & EZ Administrator

Ray Knapp

Chief Financial Officer & RLF Director

Rachel Carnes

Community Support Coordinator

Stephanie Moehlenpah Grants Coordinator

Barbara KirkmeyerWeld County Commissioner

Kent Brown

Town Administrator for theTown of Milliken

Mike Hart

Town Administrator for the Town of Berthoud

822 7th Street / Suite 550Greeley, CO 80631

Phone (970) 356-4565 Fax (970) 352-2436

www.upstatecolorado.org

/Ground-breaking ceremony for Agilent Technologies’ new pharmaceutical manufacturing facility in Frederick

Page 2: UPSTATE COLORADO BOARD OF DIRECTORS INVESTOR PARTNER REPORT · 2017. 3. 17. · Upstate Colorado Leadership Council Programs Through the “Pitch Deck” program Upstate works to

At Upstate Colorado, we envision a region with a healthy and sustainable

economy that creates wealth, preserves the quality of life, and improves the

standard of living for area residents. Our mission focuses on facilitating and

attracting investment, creating new job opportunities, stimulating income

growth, and expanding the local community tax base.

1/

Economic Data Dissemination

Working with key partners, we continue to develop/maintain and disseminate economic data on Weld County and Northern Colorado. We provide in-depth labor/demographic information, primary employer data, municipal overviews, business assistance programs, etc. Marketing materials include: Weld County Overview, Recent Economic Development Highlights, Weld County “On the Map” Rankings, Weld County Demographic/Economic Profile and Weld County Business Assistance/Incentive Summary, etc.

2/

Targeted AdvertisingWe advertised Weld County and the Northern Colorado region in the 2016 BizWest ‘Boulder/Northern Colorado Market Facts’ publication with a circulation of 7,000+.

3/

Site Selector Contacts

Upstate marketed the benefits of doing business in Weld County and Northern Colorado to numerous national site consultants via co-hosting of the Metro Denver Economic Development Council Site Selection Conference in September and attendance at the National Industrial Asset Managers Conference in September. These activities include one-on-one meetings with national site consultants.

/Johnstown, CO

UPSTATE MARKETING SERVICES

2017/ WELD COUNTY DEMOGRAPHICSSNAPSHOT

Population . . . . . . . . . . . . . . . . . . . . . .284,876Labor Force . . . . . . . . . . . . . . . . . . . . . 147,984Unemployment Rate . . . . . . . . . . . . . . . . 3.8%Median Age. . . . . . . . . . . . . . . . . . . . . . . . . 33.9Per Capita Personal Income . . . . . . . $42,787

Household Income . . . . . . . . . . . . . . .$69,434HS Diploma+ . . . . . . . . . . . . . . . . . . . . . .87.1%Average Annual Wage . . . . . . . . . . . . .$46,614

Key Industry Sectors:Manufacturing

Agriculture

Energy Production

Health & Wellness

GRP: $10.6 Billion*most recent published annual statistics

4/

COMPANY ATTRACTION ACTIVITY

In 2016, 68% of the 87 new business opportunities worked by Upstate came directly from companies, site selection consultants/realtors and/or marketing and outreach efforts.

Page 3: UPSTATE COLORADO BOARD OF DIRECTORS INVESTOR PARTNER REPORT · 2017. 3. 17. · Upstate Colorado Leadership Council Programs Through the “Pitch Deck” program Upstate works to

1/

LEAD DEVELOPMENT/PROSPECT MANAGEMENT

2/

BUSINESS RETENTION/EXPANSION EFFORTS

3/

WELD ENTERPRISE ZONE (EZ) MARKETING/ADMINISTRATION

4/

FINANCE PROGRAM MARKETING/ADMINISTRATION

5/

DISASTER RECOVERY GRANTS (CDBG-DR)

Business Lead Management & Distribution

Business leads come directly from companies, state/metro partners, site selectors, etc. We blindly distribute these leads to our local partners (communities, real estate agents, utilities, etc.), search real estate data bases and manage/package the overall response including real estate opportunities, county overview, labor info, local/state incentive overview, etc.

Coordinate Site ToursIncluding brokers, owners and community reps, as warranted.

Location Proposal Development

When a Weld location makes an initial cut, as warranted and based upon specific project parameters, we coordinate development of a comprehensive location proposal including: estimates of potential Community/County/State incentives, application/approval procedures, labor information, in-depth tax information, etc.

Working with our community partners, we continue efforts to contact key Weld employers. In 2016, Upstate had contact with 51 existing employers of which 23 (45%) had expansion projects or needs that received in-depth assistance.

We market the state income tax benefits of the EZ to companies looking at locating/expanding throughout Weld. We certify company eligibility, assist companies in claiming tax credits, certify individual and business contributions to eligible non-profit projects helping to

improve zone conditions and complete all state reporting. In 2016, we pre-certified 848 companies making them eligible to claim EZ credits, as eligible. We certified 135 companies who collectively created 898 new jobs, retained 9,919 jobs, invested $196.6 million and

earned $3.4 million in state income tax credits. We also certified 1,784 contributions with a collective value of $1.6 million to 14 approved non-profit organizations /projects. Individual and company contributors collective earned $409,544 in state income tax credits.

Upstate administers the Weld/Larimer Revolving Loan Fund and the Greeley Community Development Fund in an effort to assist business and their lending partners meet company financial goals. In 2016, the RLF funded $400,000 in new loans which created 30 new jobs, leveraging $150,000 local bank funding.

We currently service 10 active loans with balances totaling $2.1 million active load portfolio and 1.9 million available. We assisted and reviewed 4 company finance projects and qualified two for loans in 2016. One remaining project has been approved for $50,000 and closed in early January 2017.

The floods of September 2013 impacted businesses throughout Colorado. To aid in recovery elected officials secured funding from the U.S. Department of Housing and Urban Development. State officials developed programs for flood disaster assistance. Upstate was selected to administer financial oversight and provide business analysis for the Small Business and Tourism Programs. To date, 282 applications have been received, 247 applications have been reviewed by Upstate staff and 175 businesses have collectively been awarded $5.2 million to bolster recovery. In addition, 7 tourism agencies have received $500,000.00.

UPSTATE FACILITATION SERVICES$5.2 MILLION AWARDED

TO 175 BUSINESSES

SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES

Eight companies expanded or announced plans to expand and expect to invest $309 million and create 526 new jobs while retaining 1,478 jobs.$

2016 ACTIVITY SUMMARY

Upstate & our partners worked 87 new leads which included forwarding 515 Weld property brochures. Twenty-two (25%) of these opportunities became active recruitment prospects and 5 have located or announced plans to locate. These companies expect to invest approximately $169.9 million and create 252 new jobs. Work continues in 2017 on three potential projects.

/Promontory – Greeley, CO

/AFT – Firestone, CO

Page 4: UPSTATE COLORADO BOARD OF DIRECTORS INVESTOR PARTNER REPORT · 2017. 3. 17. · Upstate Colorado Leadership Council Programs Through the “Pitch Deck” program Upstate works to

Weld is extremely large with diverse strengths, interests and opportunities that we work to define and capitalize upon. To this effort, we continue the following:

1/

South Weld Economic Development Initiative

Meetings on industry focused resources that support economic development activities in support of South Weld communities.

2/

I-76 Economic Development Corridor InitiativeProvide financial support for the Northeast Corridor Development Expo and Familiarization event in 2016. Work with representatives of I-76 corridor communities to identify individual and collective economic development needs.

3/

Upstate Colorado Leadership Council Programs

Through the “Pitch Deck” program Upstate works to identify and link new/existing Weld employers looking for investor and technical support to local partners. In 2016, one company received financial

support facilitated via Pitch Deck. Through the “Community Site Readiness” program, Upstate awarded three small infrastructure grants with a total value of $30,000 to Milliken, Kersey and Fort Lupton to help identify and facilitate the development of industrial sites.

Private Sector

$135,250/

Community Partners

$81,629/

Public Sector

$253,700/

Grants

$16,800/

Services

$197,664/

Administration

$320,483/

Operating

$114,272/

Grants & Projects

$135,937/

UPSTATE CONNECTION SERVICES UPSTATE COLORADO FINANCIAL SUMMARY / 2016

1/

Private Sector Engagement

Through a leadership structure we cultivate private sector leaders to help identify potential “transformational” change opportunities throughout Weld.

2/

Policy DevelopmentThrough active involvement with the Northern Colorado Legislative Alliance (NCLA) and the Economic Development Council of Colorado (EDCC) we support, monitor/influence issues impacting business. We also assist Weld Communities in developing local incentive policies.

3/

Industry Sector Partnerships Involvement

Upstate continues to serve on the Northern Colorado Manufacturer Sector Partnership.

4/

Energy Proud Steering Committee As a founding member, Upstate joins our partners in energy education and advocation for this critical sector.

5/

WELD WORKFORCE

Through the workforce board, key labor related issues and new opportunities are supported in an effort to insure a viable workforce for all Weld employers.

UPSTATE ADVOCATION SERVICES

SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES

INCOME:

TOTAL INCOME: $685,043/ (100%)

TOTAL EXPENSES: $570,692/ (100%)

EXPENSES:

20% 12% 37% 2% 29%

56% 20% 24%

Private Sector

$135,250/

Community Partners

$81,629/

Public Sector

$253,700/

Grants & Projects

$214,464/

Administration

$320,483/

Operating

$114,272/

Grants & Projects

$135,937/

2016/ UPSTATE COLORADO FINANCIAL SUMMARY

2016/ UPSTATE COLORADO PARTNERS

SUPPORTING JOB OPPORTUNITIES IN GREELEY & WELD COUNTY COMMUNITIES

INCOME: EXPENSES:

TOTAL INCOME: $685,043/ (100%) TOTAL EXPENSES: $570,692/ (100%)

20% 12% 37% 31% 56% 20% 24%

Upstate Colorado Economic Development is a nonprofit economic development agency serving Weld County and its communities. We thank the below investor partners for their support in 2016!

And all community partners:

Chairman’s Advisors

Vestas America

Weld County

City of Greeley

Leadership Council BNSF Railway

Bank of Colorado

Agfinity, Inc.

Town of Berthoud

Broe Real Estate Services

Aims Community College

Phelps-Tointon

Envirotech Services, Inc.

Banner Health

Xcel Energy

City of Evans

Town of Milliken

AGPROfessionals

Town of Windsor

Anadarko Petroleum

Premier InvestorFirst National Bank

Martin Marietta Materials

City of Fort Lupton

Town of Johnstown

Investor

Town of Platteville

Town of Severance

Town of Mead

Town of Eaton

Town of Hudson

Northern Colorado Commercial Association

City of Dacono

Brighton Economic Development Corp.

Supporter

PV Ironwood LLC

Silicon Ranch

Town of Gilcrest

Town of Nunn

Town of Garden City

Town of Kersey

Town of Ault

Anderson & Whitney

Town of Keenesburg

Town of Lochbuie

Town of LaSalle

Sears Real Estate

/Firestone, CO /Hudson, CO /Greeley, CO /Milliken, CO