2024
Annual Report
As President of the 2024 AEDA Board of Directors, I am fortunate to be part of a board where the board and committee members enjoy living and/or working in our wonderful City and are committed to its well-being as a thriving community. Staff, with the support of the Retention Committee work diligently to meet on average with 19+ businesses per month to understand their concerns and what the business owners would like to see in the city, with a focus on keeping the existing businesses in Arvada. The board and staff are aligned well with the City Council’s strategic growth of new business via targeted industries as a primary focus.
This past year AEDA was able to help facilitate 81 commercial development projects to support the continued growth of the city population. AEDA has continued to facilitate and maintain relationships with 30 strategic partners as part of enhancing our community as a desired place to work and live. We were fortunate to receive re-accreditation as a recognized Economic Development Organization, by the International Economic Development Council (IEDC). As President I am looking forward to 2025 and the continuance of working with the board and staff on many opportunities to continue supporting existing business within our great City.
Paul Duncan, Pie Engineering
2024 AEDA Board President
New & Notable Businesses for 2024
The following are a sample of business expansions or relocations to Arvada in 2024.
Strategic Plan
Each year the AEDA Board of Directors adopts an Annual Strategic Plan in alignment with a larger six-year Strategic Plan. This Impact-Driven plan helps guide AEDA's decisions based on capturing data from three program objectives, including Economic Impact, Customer & Community Impact, Organizational Impact. This information allows staff to "tell the story" of how the results of AEDA's efforts support its mission.
Highlights from AEDA's 2024 Strategic Plan and business support activity are outlined below.
Economic Impact
In Capital Investment
New Square Feet of Commercial Real Estate Developed
Implementation of the 2024 Retention Work Plan
Net Brick and Mortar Increase in Arvada Businesses
Community Impact
Resident Surveys Completed:
AEDA E-Newsletter Audience:
Completed
of Community Engagement and Communications Work Plan to guide engagement work including storytelling and resident education on economic development.
Social Media Impact
Surpassed our goal of 300 followers at 460 followers.
Increased our followers from 2,500 at the start of Q1 to 2,608 at the end of Q4
Increased our followers from 199 at the start of Q1 to 307 at the end of Q4
Organizational Impact
Colorado Enterprise Fund Loan Pool Makeup
10
StartUps
2
Veteran Owned
6
Minority Owned
10
Woman Owned
7
Low Income
Totalling
In Active Loans
In 2024, AEDA:
Led a Financial Wellness Panel discussion with local and national business lenders to support small businesses with an opportunity to connect on various loan and grant opportunities.
Partnered with the Greater Arvada Chamber on SizeUp, a business analytics tool designed to support small and medium-sized businesses understand opportunities for implementation and growth of their business within Arvada.
Supported the City on 81 Development Projects.
Was recognized as a finalist for the Community Partner of the Year award through Jefferson County Economic Development Corporation (Jeffco EDC) at their annual Gateway Awards Ceremony.
