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HomeMy WebLinkAboutPACKET Town Board Special Study Session 2015-11-02 Monday, November 2, 2015 TOWN BOARD 4:00 p.m. STUDY SESSION Board Room 4:00 p.m. Final Avalanche Economic Development Strategy Report “Informal discussion among Trustees concerning agenda items or other Town matters may occur before this meeting at approximately 3:45 p.m.” AGENDA ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY EXECUTIVE SUMMARY DRAFT prepared for the Estes Park Economic Development Corporation and the Town of Estes Park October 30, 2015 avalanche Project Description In January 2015 the Estes Park Economic Development Corporation (Estes Park EDC) and the Town of Estes Park retained Avalanche Consulting, Inc. to prepare a strategic plan to guide efforts to improve the economic base and long-term economic resiliency of the Estes Valley. The project was funded as part of a $300,000 financial award from the Economic Development Administration of the Department of Commerce As Rocky Mountain National Park celebrates its 100-year anniversary and flood recovery continues, the residents of the Estes Valley are presented with an opportune moment to evaluate the community’s competitive position and establish a vision for the future. Economically speaking, Estes Valley is a community at risk. The extensive flooding of September 2013 exposed the fragile nature of our physical infrastructure: our roads, our bridges, our rivers, and our basic utilities. Of even greater importance is the state of our human infrastructure. It too is in jeopardy. On January 2016 Estes Valley will officially become an Enterprise Zone, a state designation for Colorado communities that have officially been declared “economically distressed,” in our case because we lack both job growth and an adequate supply of needed workers. Both issues are real and they are systemic. “Change” is a word that comes all too easily—so easily in fact that it is all too easily dismissed. But if our current quality of life is to be maintained let alone enhanced, then as a community we must stabilize and enhance our economy and firmly address the challenges required by both. In this Estes Valley is, of course, by no means alone. Not a day goes by when we are not reminded that our entire American economy and its ability to create and retain jobs is in a rapid state of transition. Communities that are unwilling or unable to react to these changes in positive ways will simply fall behind. The status quo offers no security. Immediate intervention is required. The Estes Park EDC’s objectives for the project were clear from the outset: our community’s economic development plan must produce a strong, resilient, year-round economic environment while protecting and improving its quality of life. The plan must also keep faith with the values that historically have distinguished Estes Valley as a very special place in which to work and live. The strategic plan presented here is guided by the principles and goals set forth in The Path Forward, the document published in December 2012 by the Estes Valley Economic Development Task Force to guide our community’s economic future. Accordingly, this Plan: • Is rooted in an understanding of the history and traditions of the Estes Valley. • Is based upon community input in order to reflect, protect, and strengthen what is unique about the Estes Valley and the surrounding region. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 4 avalanche • Embodies “best practices” and economic development strategies currently employed by other communities, but are adapted to Estes Valley’s unique circumstances. • Allows us to create an increasingly year-round economy by focusing on the retention, improvement, and expansion of existing businesses while actively seeking to broaden the economy by attracting and nurturing new businesses that are harmonious with our history and values. • Results in sufficient numbers of new, year-round, well-paying jobs to attract younger workers and their families to a vibrant, multigenerational community. • Fosters opportunities for people to live where they work. • Encourages public-private partnerships that benefit the community as a whole. • Is results-oriented and establishes benchmarks by which to measure success. We believe that this Plan achieves these goals. Its major recommendations for the Estes Park community are as stark as they are clear. To be economically competitive the Estes Valley must: • Establish Competitive Broadband in the Estes Valley • Address adequate workforce availability • Support the Estes Valley Community Center to address childcare and younger demographic attraction and retention • Secure funding for key economic development projects Economic vitality and the quality of life are intimately connected. This plan, and the recommendations it contains, makes explicit our belief that sensitive and innovative economic development must be anchored in a shared vision of Estes Park’s future that can inform future decision-making while establishing actionable roles for key stakeholders. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 5 avalanche Goals, Methods, and Outcomes The practice of economic development continues to change every year and means different things for every community. The ambiguity of the term with regards to the Estes Valley was clear in the community survey – 45% of respondents were uncertain about economic development. A primary goal of this strategic planning process is to help the Estes Valley define what economic development means for the community and develop a vision for the future. Traditionally, the success of an economic development initiative has been measured by its ability to create jobs and capital investment. The focus of traditional economic development activities was business recruitment. In recent years, the definition of economic development in many communities has become more holistic. Holistic economic development encompasses both primary business growth (through entrepreneurship, retention, expansion, and recruitment) and community development (e.g., investing in physical infrastructure, innovation infrastructure, education, better public policies, lifestyle amenities). The success of holistic economic development initiatives is measured by a broader array of metrics, from wealth and income generation to educational performance, business startup activity, and affordability, just to name a few. Among other roles, a proactive holistic economic development program can: • Provide jobs for residents, security, and a greater capacity to enjoy life • Grow the tax base to pay for quality of life amenities, infrastructure, education • Diversify the local industry base to make the community more resilient • Draw talent to the area, helping employers grow • Help employees afford to live closer to jobs and engage in the community • Curb leakage of wages, keeping dollars in town ESTES VALLEY COMMUNITY SURVEY WHEN YOU THINK ABOUT ECONOMIC DEVELOPMENT, YOUR RESPONSE IS GENERALLY: Uncertain 305 Negative 138 Positive 241 COMMON MISCONCEPTIONS “When many people hear economic development they think it is going to ruin the city. They think tall buildings, more traffic, and Wal-Mart.” Source: Estes Valley Community Survey, 2015 ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 6 avalanche • Support entrepreneurs and local businesses, providing a growing market for their goods and services • Grow the economy in a way that is environmentally sustainable Located in a mountain valley, the Estes Valley’s economy has traditionally been focused on tourism alone. The Estes Valley Economic Development Task Force’s “The Estes Valley’s Economic Future: The Path Forward,” published in 2012, highlighted a growing need for an economic development initiative to address demographic shifts, economic diversification, wealth creation, and other issues. That report led to the formation of the Estes Park EDC and the initiation of this planning process to define and expand the role of economic development in the Estes Valley. When establishing a new role of economic development locally, the Estes Valley must consider that it has limited space for physical growth and a strong desire to retain its unique character and physical beauty. At the same time, many residents see an urgent need for greater economic diversity, increased affordability, and supportive resources to help families and residents of all ages prosper. Considering these desired outcomes expands the role of economic development beyond a traditional approach. In the Estes Valley, economic development must support a broader mission of community development and addressing critical needs. Therefore, the Estes Valley’s definition of economic development must be holistic. Holistic economic development will lead to prosperity for residents and inject new monies into the Estes Valley to invest in cherished assets. The vision, goals, and recommendations in this report assume a holistic definition of economic development. THE GOAL OF ESTES PARK’S ECONOMIC DEVELOPMENT INITIATIVE SHOULD BE TO: Source: Estes Valley Community Survey, 2015 ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 7 avalanche Current Situation and Challenges The Estes Valley’s geographic location provides a desirable balance between a pristine mountain environment and proximity to one of the nation’s fastest growing metropolitan areas. Rocky Mountain National park, the scenic beauty, a wealth of recreation options, the small-town environment, and a busy arts and events calendar draw new residents and guests to the Estes Valley from across the world and the Front Range. Along with physical assets, the Estes Valley boasts a wealth of human capital. Local residents are well educated, with nearly 50% holding a bachelor’s degree or higher. Many working and retired residents have successful business experience and knowledge, and the community is known for a high rate of volunteerism and civic engagement. These and many others are strengths upon which the Estes Valley can build upon for the future. However, just as the Estes Valley has unique assets, it also faces its own challenges such as: o The Estes Valley used to be a completely seasonal economy focused on tourism, with a large share of businesses shutting their doors during the winter months. Over the past fifty years, the shoulder seasons continue to extend further into the winter, drawing guests from across the nation and Front Range. An increase in year-round residents has also led to more businesses remaining open and providing services throughout the year. Despite these improvements, the Estes Valley’s economy and population remains more seasonal than national averages, creating challenges for businesses trying to stay open and residents looking for a full-range of annual services. Building a more year-round economy will help build overall economic resiliency and increase wages, which retail, restaurants, and other tourism- related businesses do not provide. o With increased year-round residents, housing has also become more expensive and less available in the Estes Valley, creating significant challenges for many workers attempting to find attainable housing. (Seasonal, rental, and purchase options are severely limited.) These housing restrictions, limited childcare options, and a seasonal economy are some of the factors contributing to a decline in the number of young families living and working in the Estes Valley. Many must live outside of the Estes Valley and commute into the community, which compounds instability in the workforce. The Estes Valley’s average age is now among the highest in the country. “People come here for the lifestyle.” “We have some of the best, well-connected trail systems in the country and world-class rock climbing.” Source: Community Survey 2015 ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 8 avalanche The loss of younger, working age residents is a major concern for local leaders and businesses, because they represent an important employee base that allows for the provision of high-quality services in the Estes Valley, including the medical center, police force, city services, park maintenance, and much more. o Within Colorado, many ski towns have realized the need to diversify their winter-season economies and begun to invest in amenities that promote a summer and off-season guest base. In turn, the Estes Valley is falling behind in terms of annual sales tax revenue and other measures that help a community afford year-round economic development. The Estes Valley is blessed to be located at the hub of Rocky Mountain National Park. However, as other CAST towns increasingly compete against the Estes Valley’s summer guest offerings, the Estes Valley must respond with investments in community amenities that draw in guests, talent, and businesses during off-peak seasons. As building and infrastructure naturally degrade with time, businesses and communities must continuously invest in redevelopment and new construction. Many local businesses cite the Estes Valley’s codes and regulations alongside limited land for redevelopment as major challenges to their current operations and potential for growth and innovation. The Estes Valley faces numerous challenges, but with a wealth of assets and an engaged and educated population, the community is well positioned to approach new opportunities to build economic resiliency through strategic investments. “We are bound by the national park and national forest and do not have the expansion opportunities that other communities might.” “There are concerns that our building codes limit redevelopment of many outdated buildings.” Source: Community Survey 2015 ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 9 avalanche Economic Development Vision The Estes Valley Economic Development Task Force identified economic development as a priority in 2012, and the Estes Park Economic Development Corporation was formed in 2013. The creation of this report afforded the community an opportunity to clearly define what economic development means in the Estes Valley. It sets forth a vision, and a commitment to goals that will advance the community toward the attainment of that vision. Achieving its economic development vision and goals will require Estes Valley to invest in itself. Some recommendations in this report may seem challenging and even risky. Always keep in mind that businesses choose to invest in communities that invest in themselves. Investments must come from both the public and private sector, with the Town and County investing in key infrastructure and services, and private businesses investing in upgrades and new business models. Businesses grow in communities that have bold plans in place and are working in close cooperation to implement those plans. Launching an economic development strategy is a complex process that brings together a diverse community of residents, business owners, workers, artists, educators, government leaders, and more. While it may initially seem straightforward, drawing together these diverse opinions, statistical data, and outside analyses required nearly 1,500 hours of time – vetting ideas, ensuring they align with the community vision, and forming clear, specific, actionable recommendations. The results of all this facilitation, community engagement, and analyses are seen in this report. The Estes Valley has many community projects currently in motion, requiring different investments of time, money, and public support. Each is a component of this strategic blueprint for success. The recommendations in this report bring together these diverse elements and outline what it will take for the Estes Valley to have a strong, resilient, year-round economy where its residents can prosper and enjoy a high quality of life. In addition, the recommendations aim to create an environment that supports evolving economic activity, protects the Estes Valley’s assets, enhances regional competitiveness, and reinforces the historic values that have made the Estes Valley a unique place to live, work, and visit. People are at the heart of every economy, and businesses thrive in locations that attract and retain talented individuals and families. Estes Valley residents noted the increased challenges of supporting a working family in the community, and businesses expressed a need for more resources to help retain their skilled employees. Workforce housing, childcare options, and other factors that support the people of the Estes Valley are important themes throughout this report. The vision that emerged from this process recognizes that economic development is about making the Estes Valley a stronger community – enhancing both quality of life and economic opportunities while reinforcing local values and culture. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 10 avalanche The vision identified below should be kept in mind when prioritizing investments throughout the community. THE ESTES VALLEY’S ECONOMIC DEVELOPMENT VISION The Estes Valley is the nation’s premier mountain community, supporting a wealth of year-round economic, cultural, and recreational opportunities for a multigenerational population of residents, guests, and businesses. All goals and recommendations discussed in the following section are intended to help the Estes Valley achieve this vision by building on existing community strengths to address critical needs and create new opportunities for success. Priority projects and community investments will require money, hard work, and patience, but the return on investment will far exceed the initial cost. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 11 avalanche Building on Strengths and Addressing Critical Needs People say it often, but the Estes Valley truly is a unique mountain community. Nowhere else in the nation can you find such natural beauty, vibrant tourism industry, educated citizens, and high quality of life within a two-hour drive from one of the nation’s fastest growing metropolitan areas and largest airports, as well as three world-class research universities. The strategic planning process highlighted the Estes Valley’s unique position and opportunities and also identified critical challenges to achieving the community’s vision. These challenges may not appear new to some Estes Valley residents, but this strategic planning process validated many challenges and put them within the context of economic development. To achieve the economic development vision set forth in this report, the community must address its most critical needs. The Estes Valley’s future economic vitality and quality of life needs: o A diverse, resilient, year-round economy that helps local businesses expand, attracts new business investment, and provides services for residents and guests o A business environment that supports a continually evolving economy and increases the Estes Valley’s competitiveness for high-paying jobs that attract younger workers and their families o Proactive and collaborative advancement of specific projects that will catalyze economic development, such as the priority projects identified in this report Economic vitality is the driver of quality of life. Heightened economic activity will generate the revenues needed to preserve and protect the Estes Valley's cherished assets and historic values. It will help grow the local workforce and raise household incomes, which will stimulate the economy. Economic development in the Estes Valley must first and foremost concentrate on the needs of existing residents and businesses. The goals and strategies identified in this report will provide roles for all members of the community in building a common vision. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 12 avalanche Top Priorities This report includes a range of community development projects designed to create a more resilient economy and address critical needs in the Estes Valley, but not all recommendations are of equal importance. Some strategies will require long-term planning and capital investments, while others can begin immediately and impose relatively low financial costs. Other recommendations are absolutely essential to achieving community goals. Successful achievement of the Estes Valley’s goals will require completion of the following priority projects in the next five years (in no particular order): 1. Construct and maintain a high-speed broadband network for businesses, residents, and tourists. 2. Update building codes, zoning, and regulatory processes to encourage redevelopment and new construction. 3. Increase the supply of workforce and seasonal housing in the Estes Valley. The three projects are absolutely critical to any community development success in the Estes Valley. Without the completion of the high-speed broadband network, business development in any industries outside of tourism will be challenging. If the Estes Valley does not begin addressing workforce and seasonal housing issues today, local businesses will face ever- increasing problems with finding and retaining workers. Lastly, if building codes and regulatory processes are not updated to match the needs of modern businesses, the Estes Valley will not see necessary investments in redevelopment and local business expansions. Each of these recommendations is different. Some will require action and funding from the Town of Estes Park, and others will involve partner organizations and the private sector. However, most projects are collaborative and will require efforts from the Town of Estes Park, the Estes Park EDC, partner organizations, and private Estes Valley residents and businesses. The Estes Park EDC must play an important role facilitating these collaborations, encouraging project momentum, and educating the public about the benefits of each project. Businesses seek communities that invest in themselves. For the Estes Valley to be successful, it must begin by investing in itself. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 13 avalanche Goal 1 – Physical Infrastructure The Estes Valley proactively invests in projects that both encourage economic diversification through target industry growth and enrich its guests' experience.. Before the Estes Valley can expect businesses to invest in the community, it must invest in itself. Businesses, residents, and guests alike are drawn to communities that have bold plans and work together to implement them. Building an economy that employs residents and offers services and products year round will require investing in the community and creating a supportive environment for primary businesses. Because high-speed broadband connectivity is essential for almost all businesses in the modern economy, the Broadband Initiative is one of the top priorities for the Estes Valley. The Community Center, Wellness Center, Performing Arts Center, Stanley Film Center, and other projects will all help build a more resilient year-round economy and support targeted businesses. Priorities To achieve this goal, the highest priorities for the Estes Valley are: 1. Constructing and maintain a high-speed broadband network for businesses and residents 2. Endorsing and encouraging voter approval of the proposed Community Center 3. Supporting the development of the Estes Park Wellness Center 4. Encouraging the establishment of the Stanley Film Center 5. Mitigating flood risk and establishing final floodplain designations in a manner that reduces risks to lives and properties, minimizes insurance premium increases, and allows for future redevelopment Additional activities that will help support this goal include: › Promoting the completion of the Rocky Mountain Performing Arts Center › Working with the forest service, as other communities have done, to expand recreational activities within the Roosevelt National Forest › Upgrading and constructing athletic and recreational facilities as needed to support target-industry development › Upgrading and expanding the Estes Park Conference center to make it more competitive in attracting conference business with similar facilities across the Mountain West. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 14 avalanche Goal 2 – Business Climate The Estes Valley government and business leaders embrace thoughtful policies and practices that help businesses succeed. This goal focuses on policy changes and new programs that will improve the Estes Valley’s business climate, addressing the needs of existing businesses and those wishing to establish new operations in the community. Structures in any community inevitably age and require upgrades over the years to keep them safe, modern, and attractive. Current building codes, zoning, and regulations in the Estes Valley often make this type of redevelopment and new construction time consuming and expensive. Addressing these and other challenges facing businesses requires reviewing and updating local codes and regulations, developing a cohesive plan for redevelopment opportunities, creating programs to encourage redevelopment of existing properties, and identifying new development projects that maximize the potential of available land. To encourage the redevelopment of outdated properties and infrastructure, new business investment, and greater land-use diversity, the Town of Estes Park should continue with the downtown master planning process and consider making changes to current building and land regulations. Priorities To achieve this goal, the highest priorities for the Estes Valley are: 1. Improving the Town’s current building codes and zoning to match the needs of commercial businesses and workforce housing 2. Continuing the downtown master planning process Additional activities that will help support this goal include: › Creating incentives to encourage property redevelopment and new investment › Improving communication between property owners and Town planning and permitting departments › Identifying creative uses for large properties that address community housing, commercial, and other needs ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 15 avalanche Goal 3 – Workforce & Education The Estes Valley attracts, retains, and trains a skilled workforce that is supported by a mix of housing options and multigenerational community resources. High demand for housing and limited supply have raised housing costs over the years to the point that home ownership is out of reach for many residents and workers, particularly in middle-income professions. These limitations have created distinct challenges for local businesses and institutions when trying to attract and retain talented employees critical to community health – including nurses, police officers, and even young, skilled professionals. High costs and limited availability of housing, alongside inadequate childcare options and other concerns, lead many working professionals, particularly those with families, to seek new employment opportunities in other communities, creating high turnover and costs for local businesses. The Estes Valley also needs to invest in the future workforce by establishing education programs that prepare local students for jobs in the community and attract the best and brightest from around the country and world to new opportunities. Linking Mountain Education programs to growing local businesses will help young adults raised in the Estes Valley find local employment and remain in the community. These efforts will reduce the need for local businesses to recruit employees from outside the Estes Valley and build a cyclical system supporting business and encouraging education. This goal requires a combination of policies and programs that encourage the development of assets to address critical needs, such as attainable housing and childcare centers, and also prepares a future workforce to sustain the economy and build economic resiliency. Priorities To achieve this goal, the highest priorities for the Estes Valley are: 1. Increasing the supply of workforce and seasonal housing in the Estes Valley Additional activities that will help support this goal include: › Considering the needs of childcare resources in land-use and regulatory planning, and explore creating a public-private partnership to provide infant and childcare services. › Developing entrepreneurship education and internship programs in the Estes Park School District › Establishing a flagship Destination Wellness & Hospitality Education Center ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 16 avalanche Goal 4 – Entrepreneurship & Innovation The Estes Valley is known nationally, if not globally, as a center for mountain entrepreneurship and provides world-class support for growing businesses. A majority of people in the US works for small businesses, and these small businesses are a primary source of new job and wealth creation. Due to limited space for new development and a desire to remain a beautiful mountain community, economic development in the Estes Valley should focus less on attracting large business operations and more on supporting existing primary businesses and encouraging startups. The Estes Valley is a natural fit for entrepreneurs in the IT, Craft Goods, Wellness, and Outdoor industries. However, it could be an even more viable location for entrepreneurs and their primary businesses. Specifically, investing in high-speed broadband infrastructure, increasing the availability of real estate (new construction and redevelopment), and adding local resources like financing and mentors will greatly enhance the Estes Valley’s climate for entrepreneurs. The following recommendations build on strengths and address challenges. They are intended to support existing primary businesses and new startups while building the Estes Valley’s reputation as a national center for mountain entrepreneurship. Priorities To achieve this goal, the highest priorities for the Estes Valley are: 1. Continuing to develop a business incubator that fosters fast-growing startups in one or more of the Estes Valley’s target industries 2. Establishing a local revolving loan fund Additional activities that will help support this goal include: › Creating a 1 Million Cups program › Establishing an Estes Valley Craft Spirits Association › Creating a Business Advisor Program to enlist successful local business people and retirees to mentor growing businesses and startups › Creating a Telecommuters Meet Up ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 17 avalanche Goal 5 – Marketing The Estes Valley brand reflects a destination for guests, residents, and high-paying primary jobs. Estes Park is an internationally recognized name, known for its beauty and proximity to Rocky Mountain National Park. For 100 years, families have visited the Estes Valley, returned to their homes, and spread the word about this unique mountain valley. That same reputation has drawn new residents who seek the Estes Valley lifestyle to start businesses and find ways to live and work locally. The Estes Valley’s reputation is intimately linked to its visitor industry. Many businesses have been built and thrived locally to serve guests during visitor seasons. Tourism is the Estes Valley’s largest employer. To accomplish a more diverse, year-round economy (that complements the tourism sector), the Estes Valley must increase awareness that it is also a premier destination for high paying primary jobs. Building this awareness will begin by correcting misperceptions that the Estes Valley is not business friendly. In recent years, the Town has taken strides to work more closely with business owners and adopt more progressive policies and practices. The creation of the EDC, advancements in priority projects like the broadband initiative, and investment in this report are all major steps forward. There is a need to further communicate these advancements to businesses both inside and outside of the Estes Valley. To diversify the economy and support a range of businesses, the Estes Valley should create and communicate a consistent brand that celebrates the community as a destination for both guests and businesses. Tourism and business are complementary, not opposed to one another. With proper communications and product development, many guests will see opportunities to live and work there, and primary businesses, such as those in the Estes Valley’s target industries, will draw customers and attention that will, in turn, support the tourism industry. Priorities To achieve this goal, the highest priorities for the Estes Valley are: 1. Conveying a high quality, unified brand in all community investments and communications 2. Ensuring that the Estes Valley is represented in regional and state marketing and recruitment activities 3. Establishing and sustaining the Estes Arts District Additional activities that will help support this goal include: ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 18 avalanche › Actively recruiting events, tournaments, and corporate conferences at the Multipurpose Events Center, Conference Center, and other facilities › Creating a “Made in Estes Park” trademark for local products and services › Expanding and sharing the community events calendar › Providing more outreach to the Latino community and bilingual resources Capacity Building Implementing the recommendations in this report will require coordinating efforts between the Estes Park EDC, Town of Estes Park, Visit Estes Park, and numerous other organizations, individuals, entrepreneurs, and businesses throughout the Estes Valley, region, and State of Colorado. Completion of priority projects and implementation of other recommended activities will also require funding that is not currently available in Town or EDC coffers. Because the EDC is a young organization and the Estes Valley is relatively new to economic development, it is important to establish clear roles for Partner Organizations in the community. Implementation will also require collaboration and communication with the community at large. Throughout this planning process, Avalanche Consulting has discussed organizational responsibilities with Partner Organizations as well as observed their interaction. The following section, Organizational Assessment & Recommendations, shares the consulting team’s suggested roles and responsibilities for Partner Organizations. These recommendations are intended to strengthen these organizations and make them increasingly sustainable and effective over time. It also provides strategies for boosting the Estes Valley’s overall capacity for economic development. Suggested improvements are based on best practices from the consulting team’s extensive 20+ years serving as strategists for communities across the country. The overall objective of capacity building is to provide the Estes Valley with the skills, tools, processes, and resources necessary to implement the recommendations in this report moving forward. An extensive list of grant programs and other tools to support the recommendations in this report is included. ESTES VALLEY ECONOMIC DEVELOPMENT STRATEGY – EXECUTIVE SUMMARY – 10-30-15 19 avalanche Ten Things to Remember About This Report The following factors will be discussed throughout this report and are important to bear in mind while reading through the document. 1. The Town of Estes Park, Estes Park EDC, and Local Marketing District will play leading roles, but economic development requires the involvement of many individuals, businesses, and stakeholder organizations throughout the Estes Valley. 2. The recommendations in this report are designed to be comprehensive and includes some activities that are either currently planned or underway. This report coordinates with and reinforces productive activities that are already in place. 3. There is an intimate connection between economic development and quality of life. One cannot occur without the other. The high-wage primary businesses recommended as target industries will also enhance the experience of visiting and living in the Estes Valley. Investing in destination products will make the Estes Valley an appealing place for target industries. 4. The focus of economic development in the Estes Valley should be on entrepreneurship and supporting the expansion of local businesses. Regional and state economic development organizations should manage the majority of business recruitment activity. 5. Addressing the Estes Valley’s critical needs and achieving its vision will not be free. The community must be willing to invest in itself if it expects for businesses to invest in the Estes Valley. 6. This is a living strategy that should be reviewed and updated over time to adapt to changes in the marketplace. A system should be set into place for reporting implementation progress back to the community on a regular basis. 7. There are no silver bullets that solve community challenges. Addressing the Estes Valley’s critical needs takes a coordinated, multipronged approach. 8. There will never be 100% unanimous agreement on every recommendation and every word choice in this report. Striving for an elusive consensus will delay and quite possibly derail implementation. 9. To successfully accomplish the Estes Valley’s economic development vision and goals will require an unprecedented level of cooperation and communication. Setting aside differences and working together toward greater goals is essential. 10. Economic development is a marathon, not a sprint. Implementing recommendations will require long-term community investments and continued momentum and patience for years to come.