What Value Has the Estes Park EDC Contributed to Our Community? A Four Year Report.

By David Batey, Chair, Estes Park EDC Strategic Planning Committee

At its last meeting on August 17, the Board of the Estes Park Economic Development Corporation (Estes Park EDC) considered the following question:  if Estes Park EDC had not been created four years ago, how would our community be different today?  The list below summarizes the value returned to our community from Estes Park EDC Board member investments through their financial contributions.  This summary of “Return on Investment” includes financial returns, but also includes projects and other impacts not readily expressed in numbers.

Credit for progress on economic development in any community must always be shared with many organizations and individuals.  For every impact listed below, Estes Park EDC has collaborated in various roles (leadership, partnership, or technical support) with other organizations.  Indeed, fostering greater collaboration and new partnerships in our community is a key goal for Estes Park EDC in promoting implementation of the regional economic development strategy.  In just less than four years of activity, Estes Park EDC has had significant impacts summarized below:

A.      Financial Impacts:

1. $2,816,418 in grant funds to community and businesses through partnerships/technical assistance of Estes Park EDC
2. $1,712,000 in grants supported by advocacy or outcome of EDA grant-funded study
3. $274,877 in marketing grants to Visit Estes Park supported by advocacy for federal regulatory waiver of prohibition on tourism marketing with CDBG-DR monies
4. $28,919,551 in Estes Valley Community investments supported by Estes Park EDC advocacy/technical assistance

B.      Business and Jobs Impacts

1. Through 2016, 61 businesses with 283 full time and 449 part time jobs received Phase One Recover Colorado grants (2013 Flood Recovery; 2012 High Park Fire)
2. In 2017, 27 businesses have been awarded Recover Colorado Grants (now includes 34 Road Closure Recovery)

C.      Significant Project Impacts from Estes Park EDC Partnerships or Support

1. Funded and promoted economic impact study for vote on $1,650,000 Sale of Lot 4
2. Completed NEO Fiber consulting for Broadband Business Plan/Feasibility
3. Completed Avalanche Consulting Estes Valley Economic Development Strategy
4. Completed ATP consulting for Incubator/Entrepreneur Center study
5. Furnished information and testimony for successful Enterprise Zone Status application for the Estes Valley region
6. Promoted White paper on breweries and distilleries to support code change for three new businesses
7. Technical input and public outreach for redevelopment, workforce housing initiatives provided by Commercial Development Code Committee
8. Testified for successful Stanley Film Center (Go NoCO) Regional Tourism Act application
9. Promoted economic impact study for vote on Estes Valley Community Center project
10. Formed Childcare Services Committee and launched Childcare Needs Assessment
11. Promoted and convened Workforce Housing Committee Housing Forum
12. Supported Dollar General project with information on retail sales outmigration
13. Continued education/outreach for Town of Estes Park Broadband Initiative

The above outcomes occurred as Estes Park EDC spent $515,691 in expenses from August 2013 to July 2017. The return to our community has been positive in multiple ways.  Some are more directly tied to Estes Park EDC efforts than others, but supporters can be assured that their efforts have helped move the Estes Valley in a positive direction.