Metric Definition:

The total number of business retention and expansion interactions conducted by the Economic Development Division by category of business.

Quarterly Performance:

Quarterly business interaction numbers are expected to be lower in current and coming quarters as the Economic Development Division shifts its Business Retention and Expansion strategy to alternative outreach methods, business climate improvement strategies, and regional service organization collaboration. Goals and expected measures will be re-evaluated for 2019.

In order to retain and expand existing business, the Economic Development division began targeting the top 25 employers, top 50 retailers, and small/medium sized businesses. Each of these types of businesses are targeted for different reasons:

• The top 25 employers are targeted because they make up a significant amount of the jobs in Centennial.

• The top 50 retailers are targeted to help maintain and expand the sales tax base that makes up over 50% of Centennial’s general fund revenue.

• Small and medium sized businesses are targeted for outreach because they are the principal drivers of economic growth in terms of job creation and investment. A strategic effort is being made to target small and medium sized businesses that have demonstrated some growth, pay higher wages, and are in an industry with a higher concentration in Centennial than Metro Denver and the nation.

The Economic Development division conducted 18 total business retention and expansion interactions in Quarter 3 (5 initial interactions and 13 continuing interactions). This is below the goal of 10 initial interactions and 35 total interactions per quarter. These business retention and expansion interactions included:

• Top 25 employers - 0 interactions

• Top 50 retailers - 4 interactions

• Small and medium sized businesses - 9 interactions

Quick Contact Info:

City of Centennial
13133 East Arapahoe Road
Centennial, CO  80112

(303) 325-8000 - 24 Hour Citizen Response Center
(720) 488-0933 - Fax Number

 

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