Longmont unveils fresh approach to economic development

LONGMONT — Advance Longmont, a blueprint for a fresh approach to economic development in Longmont, was revealed Thursday morning before an audience of about 120 people at the Longmont Area Economic Council’s Partner Series Breakfast.

The city of Longmont and the Longmont Area Economic Council will team to initially focus on marketing, real estate inventory, redevelopment and putting resources in play to bolster entrepreneurship and startups.

The plan was devised from the results of a study and analysis conducted by Avalanche Consulting of Austin, Texas. Organizers also hired a site-selection firm to conduct a reverse site selection to help determine what prospective companies are looking for and how they perceive Longmont.

The city and the LAEC, an organization funded by city funds and business members, recently merged efforts to avoid duplication of services and develop a plan to invigorate the entire community.

They have reached out to about 10 organizations for input, including educators, developers and nonprofits to develop better relationships and determine how they can pool resources to gain advantages.

The LAEC, a longtime champion of courting and retaining primary employers — companies that sell products outside the immediate geographical area and generally provide high-paying jobs — will add helping small businesses to its to-do list. The new structure is taking a broad approach trying to create partnerships to enrich the community has a whole.

Wendi Nafziger, interim president of the LAEC who has been with the organization from its start, said this is the first time a communitywide effort has been made to address economic development.

“Longmont has a great business climate, and we need to get that word out,” said Andy Bade, chairman of the LAEC, referring to marketing Longmont outside the immediate area. “But we also have some challenges that we need to address. … We hired an outside consultant to tell us where we look good and where we have warts.”

While Longmont has comparatively low utility rates, including water and electric, a highly educated workforce, developable land and a citywide high-speed fiber-optic network nearing completion, it has some challenges that have been building overtime.

“The climate has changed since 1982,” the last time a complete study geared toward economic development was conducted, Bade said.

Bade said the study revealed that Longmont has a ‘scattered brand,’ lack of Class A office space and outdated industrial space. “We have lots and lots of industrial space available, but to be brutally honest, it’s not what the market is asking for. This is a big issue.”

Harold Dominguez, Longmont’s city manager, reiterated that marketing is a priority. “We aren’t getting our message out to site selectors.”

Dominguez said a system has been put in place to monitor progress and measure the effectiveness of efforts made through Advance Longmont.

The consultants recommended four target industries.

Advanced technology: aerospace and defense, data storage, computers and electronics, energy components and agricultural technology.

Bioscience: medical devices, pharmaceuticals and diagnostic equipment.

Creative arts and culinary: breweries and beverage industry, food and dining, visual and performing arts, and special events.

Professional services and information technology: engineering and design services, back office, research and development, and software.

The LAEC is in negotiations with a candidate to fill the organization’s CEO/president position. Nafziger, the organization’s longtime vice president, has been interim president since John Cody resigned from the post in August 2013 to take a similar job in Thornton.