Metric Definition:

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

Quarterly Performance:

A cornerstone of economic development strategy is to retain and expand existing businesses. To accomplish this, 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 39 total business retention and expansion interactions in Quarter 1 (16 initial interactions and 23 continuing interactions). This is above the goal of 10 initial interactions and 35 total interactions per quarter. These business retention and expansion interactions included:

• 25 employers - 12 interactions

• Top 50 retailers - 4 interactions

• Small and medium sized businesses - 23 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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