Larimer, Weld groups can unite to boost economy

In recent weeks, major corporate players representing Fort Collins, Loveland and Greeley have announced their intent to form a privately funded economic development group. This is a major step toward giving this area a more powerful, unified voice in the dog-eat-dog world of corporate recruiting and retention.

Led by Woodward Inc. Chief Executive Tom Gendron of Fort Collins and Ehrlich Motors’ Scott Ehrlich of Greeley, as well as Loveland’s McWhinney, the idea behind this latest initiative is to unify the region’s economic-development efforts in one well-funded agency that isn’t hamstrung by the political desires of the public agencies typically involved.

Now, the region’s efforts are guided by two entities. In Larimer County corporate recruitment is spearheaded by the Northern Colorado Economic Development Corp. Weld County is served by UpState Colorado.

SPONSORED CONTENT

Business Cares: April 2024

In Colorado, 1 in 3 women, 1 in 3 men and 1 in 2 transgender individuals will experience an attempted or completed sexual assault in their lifetime. During April, we recognize Sexual Assault Awareness Month with the hopes of increasing conversations about this very important issue.

Both existing entities stand to lose big if the Northern Colorado Economic Alliance, as the new entity is called, moves forward – and all indicators are that it will.

But no one we’ve talked to believes that the current funders of the two county groups are likely to support the entities now operating as well as the new private group. Most believe the new private entity, with its powerhouse of corporate leaders, will lure money from the existing groups, leaving them no choice but to fold.

Key to any undertaking of this kind is to understand what hasn’t worked. A consultant hired by NCEDC to help it assess its effectiveness points out that eco-devo agencies in cities such as Portland, Ore. and Sioux Falls, S.D., have budgets and staffs that dwarf those now in place in Larimer and Weld counties.

Here, these groups have survived on budgets of less than $1 million, and staffs of fewer than five people. In Sioux Falls, the lead economic-development agency has a staff of 12 and a budget of more than $2 million.

Another key to future success is multi-year funding commitments. The most successful eco-devo agencies procure five-year funding commitments from members. This is vital to ensuring that continuous planning and marketing programs aren’t derailed in any given year if a key funder drops out.

It isn’t as if Upstate and NCEDC haven’t had success. Between the two agencies, thousands of new jobs have been brought to the area and kept here. But Ehrlich and others believe Northern Colorado needs more muscle in the recruiting world and that the private sector is the best qualified group to make this happen on a regional basis.

We agree. But we would encourage the new NoCo alliance to proceed carefully. Historic cultural and political differences between Larimer and Weld counties will have to be honored, accommodated and used to strengthen rather than divide the new initiative.

Also, cities have to be involved in a meaningful way, even if they are not contributing cash. They hold the keys to all planning and building approvals, without which no corporate recruiting program can succeed.

We hope, rather than seeing two hard-working groups fail, that we can somehow see them incorporated into the new regional initiative. This will help reduce the inevitable friction that will occur.

Uniting Weld and Larimer counties on the economic-development front isn’t going to be easy, but we think the corporate players who are behind this are skilled enough and sensitive enough to the region’s sore spots to pull it off.