Longmont s Competitive Position 33 years of working with you
A Little History The first Golden Triangle of regionalism Longmont, Fort Collins and Greeley Larimer, Weld and Boulder Counties 1982 Longmont (EDAL) one of the original Crazy 8 which created history making, regional economic in Colorado, a system that is now the standard throughout the nation s 350 major metros
Metro Denver Network Changes Regional Economic Development
Our Connection to Japan Ken Pratt, Larry Greene, Bill Hosokawa and Jim Terada make Longmont a household name within Japan, Inc. Emperor's visit to Longmont, and his stay in the Pratt home, breaks a thousand years of tradition in the imperial court of Japan. Longmont s commitment to breaking into the Japan market set the stage for 2013 s start of non stop air service to Tokyo.
How We Work Together * Only 40% of engagements lead to deals
Economic Development Strategy Build world class 100 year infrastructure during downturns to position the region for growth when economy turns up. Serve as first money in to capture economic opportunities or oppose Forces of Darkness. Engage in all aspects of cluster development and recruit in cluster areas where Metro Denver has global competitive advantage.
Our Responsibility Provide services to our 70+ partners that are uneconomic for them to undertake separately Develop and deliver national and international attraction and retention marketing efforts to generate high paying, quality jobs for Metro Denver citizens. Provide quality research products to our many customers which improve their ability to compete in a global marketplace. Engage in public policy issues that can drive our global competitive position as a region and enhance the business climate for existing companies.
Colorado Loves California $2.5 million ad equivalency for $95,000 campaign Banners, print, Valentines, video, digital, viral, social marketing strategy becomes national phenomenon March Hickenlooper April Ritter Over 4,000 distinct users hit micro-site
Our Ethics Guided by two documents: Principles of Agreement Code of Ethics Code of Ethics Can t speak ill of our neighbors Can t steal companies from each other Sell region first and our communities second Can t run around deals Maintain confidentiality with other partners Code of Ethics has been copied by other states throughout the nation Metrics: Collaboration improves closed deals
Longmont s Role in the Region Seen as a consistently quality program with good leadership and a commitment to regionalism. City/EDC relationship is now on stronger footing good for your reputation Tough competitor with a strong plan Thought leader in eco devo circles
Metro Denver Industry Clusters 2013 2014
Cluster Comparisons Longmont Aerospace Data Storage Computers/Electronics Energy Components Medical Devices Pharma Diagnostics Software Ag Tech Metro Denver Aerospace Aviation Broadcast/Telecom Bio devices and pharma Energy fossils and clean tech Financial services Healthcare/Wellness Software/IT
Other Longmont Clusters Creative Arts and Culinary Professional Services Back Office R&D
Competitive Issues Facing the Region Transportation I 25 north and I 70 East and West Mag lev is not the answer Energy issues Water Funding education focus on higher ed Spiraling housing costs Growth patterns need for new infrastructure in rapidly growing areas
Millennials Largest Population Group 2014 250,000 200,000 Next Gen 599,900 Millennials 833,000 Population 2014 = 2.99 million Gen X 632,700 Baby Boomers 701,600 150,000 100,000 50,000 Silent Gen 207,700 Greatest Gen 15,100 0 0 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 to 69 70 to 74 75 to 79 80 to 84 85 to 89 90+
Millennials Largest Population Group 2024 300,000 250,000 Future Gen 229,500 Next Gen 880,400 Population 2024 = 3.45 million Millennials 941,100 Gen X 638,900 Baby Boomers 636,200 200,000 150,000 100,000 Silent Gen 120,300 50,000 0 0 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 to 69 70 to 74 75 to 79 80 to 84 85 to 89 90+
Percentage of Annual Population Growth 2035
North west Projected Annual Avg. Population Growth by 2035: 1.0% North east Projected Annual Av Population Growth b 2035: 2.6% South west South east Projected Annual Avg. Population Growth by 2035: 1.1% Projected Annual Avg Population Growth by 2035: 1.7%
Percentage of Annual Job Growth 2035
North west Projected Annual Avg. Employment Growth by 2035: 1.3% North east Projected Annual Avg. Employment Growth by 2035: 1.9% South west Projected Annual Avg. Employment Growth by 2035: 1.2% South east Projected Annual Avg. Employment Growth by 2035: 2.0%
WHICH COUNTY WILL HAVE THE LARGEST POPULATION IN COLORADO IN THE NEXT 20 YEARS?
Whither goes the economy.? Growth will continue, despite drop in oil prices and slower growth in the sector. 2.1% 2.2% anticipated down from 3.2% Oil must pass $60/barrel for production to see stronger activity. Texas fields are more productive and have less cost/barrel. Fear of 2016 ballot initiative will have impact on companies considering re starts of production.
A great year? No, but not bad Continuing recovery in financial services Millennials will continue to move here (please do not treat them like a sub species of humanity. Longmont will continue to benefit from both the Metro Denver AND Boulder brand. Tech and healthcare will continue to merge across the spectrum. Pharma should see a minor recovery but devices will continue to be robust.
Longmont Lower housing prices and increasing resistance to development in other parts of the county, should result in job increases in Longmont. Increased cultural programs, increased housing diversity and funky neighborhoods can attract younger demographic. A good second choice for techies seeking to own their own home and raise a family.
Trust me it will be wonderful