Events

Business News

Mayor’s Business Appreciation Awards
On Wednesday, July 30, the City of Lakewood recognized contributions to the community at the Mayor’s Business Appreciation Event and Awards held at Lakewood’s Heritage Center.

Award recipients included Fran Yehle, who received the C.Y. Choi Award for contributions to the planning process, and Doug Stiverson, who received the Tony Sabatini Award for many years of leadership, contributions, and community support in a non-elected position. Abengoa Solar received the Business Award for measurable impact on the community’s economy; Pickering’s Auto Service Center received the Small Business Award for being a standout in the small business community; Carma’s Solterra received the Outdoor Spaces award for preserving and incorporating unique open space features; and Denver West Office Park received the Design Award for the parks unique pedestrian facilities, artscapes, open spaces, and timeless design features. 

Mayor Bob Murphy and Planning Commission Chair John Plotkin emceed the event.  Nominations will be sought next spring for the 2009 Mayor’s Business Awards.


KPMG Ranks Denver Ninth for Favorable Tax Structures
Denver scored high marks on a national and international ranking of cities with the most favorable tax structures for businesses, according to a study released Monday by KPMG International.

Among 21 large U.S. cities (defined as having populations of more than 2 million) Denver ranked at No. 9. The KPMG study ranked cities by the total taxes paid by corporations in a particular city, and expressed as a percentage of total taxes paid by similar corporations in the United States. The tax index for the United States is 100, and is the benchmark against which other countries and cities are measured. The tax index for Denver is 101.8, meaning the Mile High City has tax costs 1.8 percent above the U.S. average. Topping the list, with a tax index of 46.6, is San Juan, Puerto Rico, where the tax costs are 53.4 percent below the U.S. average.

On a list of 35 large international cities for overall tax rankings, Denver was No. 17, sandwiched between the Washington, D.C., area and Philadelphia. The study results varied depending on the type of business. When ranked on manufacturing businesses, Denver was No. 16, with a tax index of 101.5. In the area of R&D-oriented companies, Denver was No. 27, with 106.2. Among the 10 countries studied, Mexico had the most favorable tax structure for businesses, while France had the least. The United States was ranked No. 5.


Economic Gardening - How Does Your Community Grow?
Economic gardening is designed to "grow your own" jobs through entrepreneurial activity within the community. The concept of Economic Gardening (EG) originated with Chris Gibbons in Littleton, CO who 20 years ago decided that it made more sense to work with existing, fledgling and new businesses in the town rather than trying to compete with the 35,000 other ED organizations in the country to recruit in businesses. It is a strategy that has worked well in Littleton and the dozens of other communities that have embraced the idea.

Economic development plans typically include four key tactics:  business recruitment; retention; expansion; and entrepreneurial development. Traditional approaches to economic development have focused primarily on the first three development tactics and have relied on tax incentives and other financial benefits to strengthen local economies. Increasingly, urban and rural communities, and even states, are starting to shift their economic development focus to the fourth element: entrepreneurial development. A growing body of research suggests that small and local businesses are important drivers of economic growth in communities. Encouraging the growth of more small businesses may lead to greater job creation than trying to lure one or two large corporations. A research study recently completed by the Federal Reserve Bank of Kansas City found that between 1990 and 2003, companies employing fewer than 20 employees accounted for 79.5 percent of the net new jobs in the U.S.

Most communities will probably not abandon the traditional economic development approach completely, but many are realizing the need for a more balanced economic development portfolio. As a result, increasing numbers of economic development professionals are looking at how their communities can create an environment that supports entrepreneurs and small business development. Each community needs an economic development plan that leverages their unique strengths.

The City of Lakewood has recognized the importance of economic gardening to our city and worked to establish the Jefferson County Business Resource Center for entrepreneurs seeking to establish their own small businesses. As a founding member, we partnered with other cities in Jefferson County to establish and help fund the Jefferson County Business Resource Center to help assist these small businesses. If you have any questions regarding how to strengthen your own small business, please call Denise Stephens at JCBRC at 303-996-8976 or visit www.jeffcobrc.org.