January 2013

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Northglenn Economic
Development Newsletter
 

In this Issue
City Economic Development - City Implements Sign Program
- Business Improvement Grants Approved
- New Businesses
- Shop Northglenn
Regional Economic Development- State Announces Advanced Industries Accelerator Act
- Program to Help Businesses with Transportation Contracts
- Small Business Tax Incentives in Fiscal Cliff Deal
- Health Care Law Update
- Small Business Tip
Business Events- North Metro SBDC Hosting Classes in Westminster, Brighton
- SBDC Offering NxLevel Online
- Colorado Energy Efficiency Expo
Economic Indicators- Employment Numbers
- New Storefront Business Summary
- 2012 Closed Storefront Businesses




City Economic Development

City Implements Sign Program
Promotes Northglenn Businesses Located North
of 104th Avenue on Melody Drive


104th Avenue is a very important east-west corridor for Northglenn. Nearly 46,000 cars drive along it every day and it includes the vibrant Northglenn Marketplace shopping area.

However, some businesses in the area are located just off 104th Avenue on Melody Drive, and are therefore out of sight to many potential customers.

City Council approved a way finding sign program designed to direct traffic to commercial establishments not located on major corridors.




Business Improvement Grants Approved
Three Northglenn Businesses Receive Matching Funds for Exterior Improvements

The Northglenn Urban Renewal Authority recently approved three grants through the Business Improvement Grant (BIG) program, which offers up to $12,500 in matching funds to commercial businesses in Northglenn urban renewal areas for exterior property improvements.

- Office Plaza South, Huron Street and Community Center Drive – $8,490 for parking lot improvements
- Office Plaza North, Huron Street and Community Center Drive – $12,500 for parking lot and retaining wall improvements
- 2nd Time Sports, 10685a Melody Drive – $1,174 for new exterior business signage

For more information about the BIG program, contact Economic Development Manager Debbie Tuttle at 303-450-8743 or dtuttle@northglenn.org, or go to www.northglenn.org/incentives.



New Businesses

The city is pleased to welcome the following new companies to Northglenn. These companies are making capital investments in our community, creating new jobs, and increasing our tax base – thereby fostering and enhancing economic development in Northglenn.

- AutoNation – Go Hyundai and Go Fiat dealerships and service centers opened on Jan. 7. AutoNation purchased the 6.84-acre site (former Northglenn Dodge), located at 759 and 749 W. 104th Ave., for $5.76 million. The company has made a multi-million capital investment in new equipment, major renovations, construction and expansion of the facility. The 24,769-square-foot Hyundai dealership includes an 8,700-square-foot showroom, and will employ 40 people. The newly-constructed 5,525-square-foot building houses the Fiat dealership and will employ 20 people. Both the sales and service departments will be open weekdays from 9 a.m. to 9 p.m. and Saturday from 9 a.m. to 8 p.m. For more information, please call 303-460-0102.

- Compu-Med Claims leased 1,256 square feet at 1412 W. 104th Ave., No. 116. The company provides medical billing services and employs five people. Hours of operation are weekdays from 7 a.m. to 4:30 p.m. For more information, visit www.compumedclaims.net or call 303-254-9893.

- Fixlaptop.com leased 1,320 square feet at 1028 W. 104th Ave. in the Huron Center. The company provides computer repair services. Hours of operation are weekdays from 10 a.m. to 6 p.m. and Saturday from 11 a.m. to 5 p.m. For more information, visit www.fixlaptop.com or call 303-254-9990.

- Gentle Touch Chinese Massage leased 1,168 square feet at 1464 W. 104th Ave. in the Hillcrest Shopping Center. The company provides massage therapy and is open seven days a week, from 10 a.m. to 9 p.m. For more information, call 720-431-4331.

- Healing Waters Float Studio leased 1,167 square feet at 11654 N. Huron St., Suite No. 110. The company provides flotation tanks for therapeutic and healing assistance. The hours of operation will be seven days a week from 9 a.m. to 7 p.m. For more information, please visit www.healingwatersfloatstudio.com or call 303-466-5200.

- Hellfire Fabrication Services, Inc. leased 3,900 square feet at 10750 Irma Drive, Suite No. 21. The company provides metal fabrication and welding services and employs two people. For more information, please visit www.hellfirefabinc.com or call 303-229-2921. Hours of operation are weekdays from 5 a.m. to 6 p.m.

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National Driver Training Denver (NDTD) leased 1,404 square feet at 11918 Washington St. The company provides driving instruction and testing services. Hours of operation are weekdays from 9 a.m. to 5 p.m., and classes will be offered twice a month on Saturdays. For more information visit www.usdrivertraining.com or call 720-541-7101.

Market Your City Business on Our Web Site
Shop Northglenn - Every Northglenn storefront business is included in the Shop Northglenn Web site automatically. Business owners have the opportunity to customize their listing with coupons, logos and more.

Customize your Northglenn business on our Web site at
www.northglenn.org/listings/vendor.

If you have any questions, please contact Debbie Tuttle at dtuttle@northglenn.org or call 303-450-8743.


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Business Events

North Metro SBDC Hosting
Free Classes in Brighton, Westminster

The North Metro Small Business Development Center is hosting a series of free business classes at its Brighton and Westminster locations. Some of the topics include start up basics, insurance, legal information, strategic planning, employees, accounting and finance.

For more information on these classes and register for them, go to www.coloradosbdc.org/events.aspx. For more information about classes or other services provided in Brighton, call 303-655-2150. For Westminster, call 303-460-1032.


SBDC Offering NxLevel Online

Are you ready to invest in your business dreams?

You've got the dream, you have the drive, now give yourself the edge you need to succeed! The Colorado Small Business Development Center is happy to bring you NxLeveL® Online, which brings expert advice and instruction to where you are, when you need it. Your business needs a solid foundation: Build one in your time, at your pace.

NxLeveL® Online for Entrepreneurs delivers practical guidance as you create your business plan.

Get hands-on training with:
- Bookkeeping
- Marketing
- Financial Projections
- Lending Negotiations
- Management & Organization

To learn more, contact: Jayne Reiter, Colorado SBDC Consultant jaynereiter@comcast.net | www.lcsc.edu/nxlevel | 303-892-3840



Colorado Energy Efficiency Expo

Xcel Energy experts will share the best tools and and technology to help businesses save money and lower energy bills.

The expo will be held from 7 a.m. to 2 p.m. Wednesday, Feb. 27, at Sports Authority Field at Mile High in Denver. The event is free for Xcel Energy business customers and trade partners.



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Regional Economic
Development News

State Announces Advanced Industries Accelerator Act

Courtesy State of Colorado

Gov. John Hickenlooper joined Speaker-elect Mark Ferrandino, Senate President-elect John Morse, and members of the General Assembly on Jan. 7 to announce the bipartisan House Bill 13-1001 "The Advanced Industries Accelerator Act." The economic development legislation will create new highly-skilled jobs, increase exports, drive innovation and capital investment, create stronger partnerships between educational institutions and industry, accelerate technology commercialization and promote Colorado’s research and development activities.

Advanced industries are comprised of engineering and R&D-intensive companies that deliver groundbreaking, innovative products. They share common workforce skills in science, technology, engineering and mathematics (STEM), as well as manufacturing. The economic impact of these industries is significant, accounting for 30 percent of the state’s economy, 520,300 high-paying jobs and hundreds of thousands of ancillary jobs.




New Program to Help Businesses with Applying for Transportation Contracts
CDOT teaming up with Colorado Small Business Development Center

Courtesy Colorado Small Business Development Center

The Colorado Small Business Development Center Network and the Colorado Department of Transportation have partnered to create an innovative new program, Connect2DOT, which aims to help small businesses in the transportation industry become more competitive and successful in bidding and contracting. The program has launched at the Denver SBDC and will rollout statewide in 2013.





Small Business Tax Incentives
in Fiscal Cliff Deal

By Karen Mills, U.S. Small Business Administration, through SBDC

America's 28 million small businesses are the backbone of our economy. Recently, the Taxpayer Relief Act of 2012 delivered them some really good news.

Below are some of the key tax incentive extensions your business could be using today. Whether you've made R&D or equipment investments or hired veteran employees, you stand to benefit from one or more of the extended tax incentives.

What's more, small businesses looking for investors can benefit from the 100 percent exclusion of gain on small business stock. 

  

- R&D Tax Credit. The law extends the research and experimentation tax credit (popularly known as the R&D credit), which had officially expired at the end of 2011, through 2013. In addition, the law allows businesses to apply the credit retroactively to investments made in 2012.





Health Care Law Update
Five Major Regulations Released Over the Holidays

By David Burton, National Small Business Association, through SBDC

Five major health care regulations implementing the Patient Protection and Affordable Care Act (PPACA) were released during the holiday season by the Department of Health and Human Services (HHS), the Internal Revenue Service (IRS), the Department of Labor (DOL) and the Office of Personnel Management (OPM). The regulations include rules overseeing: the essential health benefits package; insurance market reforms and rate review; wellness programs; the establishment of multi-state plans under the exchanges; and the employer penalty.

Employer Penalty: These regulations implement the PPACA employer penalty for "applicable large employers" that fail to offer to their full-time employees (and their dependents) the opportunity to enroll in "minimum essential coverage." It provides rules about how to determine the number of full-time employees an employer has and rules for calculating the employer penalty. An "applicable large employer" with respect to a calendar year is an employer that employed an average of at least 50 full-time employees (taking into account FTEs).




 Small Business Tip:
Starting Right in 2013
As a business owner it is an optimum time to put your 2013 strategy in place and set goals. In order to reach the goals you must identify, plan, execute and then track your objectives. This is accomplished by revisiting your business, marketing, sales and strategic plans, preparing realistic budgets and projections, creating obtainable and motivating performance targets for sales staff and employees defining optimal operational and asset utilization and much more. Ask yourself these questions:

- Have changes in your customers' needs been discussed and addressed?
- Are you taking advantage of changes in the business environment?
- Do your current tax strategies make sense for next year?
- Do you have a good understanding of any upcoming tax changes that will affect you and your business over the next few years?
- Has your financial situation changed, prompting you to adjust your investment strategy?
- Are you adequately insured for where you and your company are today?
- Are you fully utilizing your business financial information to sustain and reach your goals?
- Do your business strategies align with your investment and tax strategies?
- Has your business changed, warranting changing some members of your professional support team?
- Are you on track for your eventual exit whether it be retirement in the Bahamas, spending time with the grandchildren, or the option to start another business?
- Do you have solid legal documents in place to protect what you have worked so hard to create?
- Does everyone of your professional team support one another's efforts?

If you are not satisfied with your answers, get help from the SBDC consultant team or an outside professional. Take the time to clearly identify your goals for the next year.

– By Nancy Barnett, Denver Metro SBDC
Contact Denver Metro SBDC at 303-620-8076 or go to www.denversbdc.org



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Economic Development Indicators

Employment Numbers

The table below reflects the estimated labor force, employment, and unemployment information for December 2012. It reflects an 8.9 percent unemployment rate, which is a .2 percent increase from the previous month (8.7 percent). The state unemployment remained the same and the county rate increased by .2 percent. These numbers show a slight decline from the December 2011 unemployment rate of 9.1 percent.

Area Name Labor Force
Number Employed Number Unemployed Rate
Northglenn 20,150 18,362 1,788 8.9%
Adams County 234,673 213,679 20,994 8.9%
Colorado 2,729,317 2,523,972 205,345 7.5%
Source: Labor Market Statistics, Local Area Unemployment Statistics Program – Not Seasonally Adjusted.


New Storefront Business Summary

Below is an annual summary of new 2012 storefront businesses. Monthly totals can vary based on actual business license submittals. At the end of December, Northglenn had 868 total businesses. Of that total, 648 are storefronts and 220 are home occupations.

Month
Announced
2012 New Storefront Businesses
Square Footage Absorbed
New Employees
January
2
2,930
10
February
9
22,653
65
March
6
8,945
29
April
7
4,859
14
May
3
21,220
8
June
7
8,160
7
July
5
13,494
12
August
2
5,500
12
September
3
4,980
14
October
4
10,294
6
November
3
6,909
7
December
7
47,339
72
Total
58
157,283
256
Note: Totals do not include temporary businesses.


2012 Closed Storefront Businesses

In December, three companies closed: Old Navy, Professional Retail Service and Metlife. In 2012, 44 businesses reported closing their Northglenn operation. Below is an annual summary of 2012 closed storefront businesses (numbers can vary monthly based on when the company reports the closure).

Month
Announced
Closed Businesses
Number of Employees
January
9
21
February
3
3
March
4
4
April
2
3
May
6
12
June
7
17
July
2
4
August
1
1
September
4
5
October
3
3
November
0
0
December
3
17
Total
44
90
Note: Totals do not include temporary businesses.



Contact Us
For more economic or urban renewal information, please contact city Economic Development Manager and NURA Executive Director Debbie Tuttle at dtuttle@northglenn.org or 303-450-8743.


 
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Debbie Tuttle | Economic Development Manager | 303-450-8743 | dtuttle@northglenn.org
City of Northglenn | 11701 Community Center Drive, Northglenn, Co 80233 | 303-451-8326