LONGMONT — More than half of respondents to a survey of Longmont primary employers indicate that they will expand in the next three years, adding 710 new jobs and $111.9 million in capital investment.
That’s according to a survey conducted by the Longmont Economic Development Partnership, in collaboration with the city of Longmont. LEDP surveys the city’s existing primary employers on an annual basis to “identify trends, gather strategic intelligence, address concerns, identify new opportunities, and offer support,” according to the report.
A total of 117 primary businesses representing more than 7,100 jobs completed the 2016 survey. Highlights of the survey results include:
• 88 percent of companies anticipate new products being introduced over the next two years.
• 70 percent of respondents indicated that company sales are increasing.
• 71 percent said that there are no barriers to growth in Longmont.
The survey was expanded this year to include a pilot project sampling of companies in the local business sector. Thirty-one local businesses representing 609 jobs completed the survey. Surveyed local businesses primarily represented the retail, service and restaurant/hospitality industries.
Highlights of the local businesses surveyed include:
• 65 percent of responding businesses reported gross annual sales between $500,000 and $5 million.
• 84 percent reported that their business is profitable.
Top issues of concern for surveyed local businesses were related to the current city sign code, insufficient parking and vandalism.
LEDP officials said the city already has followed up on many of the issues cited — involving 26 businesses — including issues with vandalism, NextLight service and costs, traffic control, parking issues and city regulation and code enforcement.
Additionally, LEDP followed up with 61 businesses regarding expansion, incentives, enterprise-zone information, training and other items.
Longmont’s primary employment sector includes companies in aerospace and defense, data-storage and computers, electronics, medical devices, pharmaceuticals, breweries and beverages, food and dining, engineering and design, and other areas.
LEDP is a public/private 501(c)(6) nonprofit economic-development organization serving the greater Longmont area. The organization assists with relocation, retention and expansion of business in the city.
Christopher Wood can be reached at 303-630-1942, 970-232-3133 or email@example.com.