NCEDC 2007 Primary Employer's Research Report

LARIMER COUNTY – The Northern Colorado Economic Development Corporation (NCEDC) released their findings from their primary employer’s research project today. The report which took place in the third quarter of 2007 is a result of 47 one-on-one interviews with Larimer County based primary employers. 
    The 2007 survey results reveal that Northern Colorado (Larimer County for the survey purposes) can expect regional growth to occur over the next 1-3 years. Of the 47 primary employers interviewed, 70% of businesses plan to expand over the next three years. Of the 70% of the businesses planning expansion, 58% are in manufacturing and 15% are in professional, scientific and technical services. Other industry sectors that are predicting growth are wholesale trade and transportation & warehousing. 
    “Our existing primary employers are the biggest source of future job growth,” said David May, President and CEO of the Fort Collins Area Chamber of Commerce. "It was good to learn that many of them are considering expansion. Their success drives our economy and provides good paying jobs for local citizens."
    There are over 600 jobs projected to be created in the next three years from these expanding businesses. Primary employers interviewed, indicated the estimated dollar amount to be invested in their expansion efforts totaling over $52,600,000. Including the increased capital expenditures and new job opportunities, there is an estimated 319,000 sq ft in new facility space that is expected to be occupied (built or leased) over the next three years. 
    “Not only is it good news to know that our existing primary employers are thriving and expanding, it is also good news for all of their vendors, suppliers and the support services their employees and families utilize. Within current national economic fluctuations, our communities are more dependent upon our existing primary employers to provide the sustainability they need. Through NCEDC’s BR&E program our primary employers have realized that we care about and value them; and we encourage them to contact us when they need assistance,” stated Gaye Stockman, President and CEO of the Loveland Chamber of Commerce. 
    In addition to the positive business growth projections of the primary employers, 52% projected the economy will be better in two years, 31% feel the economy will be the same in two years and only 17% feel in two years, the economy will be worse.
    When asked what issues primary employers were having with expansion, just over half of the employers responded they are experiencing recruitment problems. Of the 52% experiencing recruitment problems, 68% reported they were having difficultly recruiting blue collar positions, 18% white collar positions and 14% of primary employers responded they were having problems recruiting for both white and blue collar positions. 
    Maury Dobbie, NCEDC President and CEO stated, “Through NCEDC’s workforce committee, we will be able to have a positive impact on the workforce in this region. We are currently partnering with public and private sector companies, community organizations and Larimer County municipalities to address the workforce issues in northern Colorado.”
    The Northern Colorado Economic Development Corporation is a 501c(6) not-for-profit corporation. They are dedicated to assisting regional primary employers to expand and improve employment opportunities and overall quality of life for the citizens of Northern Colorado. 
    The information gathered, via the interviews, by NCEDC Staff and over 30 volunteers, aids NCEDC, municipalities, Larimer County and the Chambers in establishing programs and setting policies that will positively affect the economy, and the whole of Northern Colorado. All individual business data was kept strictly confidential. 
    “We couldn’t contact as many employers as we did without the help from our volunteers,” Dobbie said. “We look forward to partnering with them again when we launch our annual survey program in January 2008.”

As a brief overview, the objectives of the 2007 Primary Employers Research Project are as follows:

• Establish or maintain a channel of communication between the business community and local leaders in order to address issues at the local level.
• Identify how NCEDC can assist your business to remain here and expand in Northern Colorado.
• Gather information on the local business climate and economy.
• Identify concerns and opportunities businesses may be experiencing related to economic development.
• Provide employers with information on all of the resources that are currently available to assist their company to expand in Northern Colorado.

    The study was directed by Stacy Miller, NCEDC Director of Business Retention & Expansion, with assistance provided by the Fort Collins and Loveland Chambers of Commerce.