2020 Annual Report | Arvada Economic Development Association

2020

Annual Report

"It was an honor for me to serve as President of AEDA in 2020. Particularly since it was such a challenging year for Arvada businesses as a result of the COVID-19 pandemic. While the Arvada business community felt the negative impact, AEDA in partnership with other organizations was able to quickly develop highly effective programs and deliver critical support in a time of need. We understand how important the businesses are to the health of our community and will continue to provide the services that enable them to bounce back. Much of the strength of the AEDA organization comes from the community leaders that volunteer and serve, including your 2021 President, Alicia Svaldi of Faustson Tool. Welcome Alicia!"

Ken Olsen

President 2019 and 2020

AEDA's Annual 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. Additionally, in 2020 AEDA contributed significant resources to business support and economic recovery throughout the COVID-19 pandemic. Highlights from AEDA's 2020 Strategic Plan and business support activity are outlined below.

New & Notable Businesses for 2020

The following are a sample of business expansions or relocations to Arvada in 2020.

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COVID-19 Business Support & Recovery

In partnership with AURA and the City of Arvada, AEDA championed the formation and deployment of the Arvada Business Recovery Initiative, resulting in businesses receiving financial assistance in under three weeks. AEDA was also a key strategic partner and leader of the Arvada Resiliency Taskforce, which championed ongoing support and programs to businesses impacted by closures and health orders.

Arvada Business Recovery Initiative Grant Support

In the wake of the COVID-19 pandemic:

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$M

was directed into #Arvada Businesses

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unique businesses received CARES funding through the City of Arvada

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unique businesses received first-round funding

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unique businesses received second-round funding

Arvada Resiliency Taskforce

In March of 2020, organizations across the community united together to create the Arvada Resiliency Taskforce. The taskforce is worked diligently to create and achieve:

To learn more about impacts and outcomes from the work of the Arvada Resiliency Taskforce, click here:

Economic Impact

Economic Impact includes traditional Economic Development strategies that advance the economic output and municipal revenue streams of Arvada, including Business Attraction, Business Retention & Expansion, and the AEDA Board's grant and loan programs.

Capital Investment

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Commercial real estate development

Sq. Ft.

Retention Committee Work Plan

AEDA staff, with the input from the Retention Committee, developed its first Retention Committee work plan in 2020. The workplan focused on three main goals which included:

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Targeted Visits and Retention Services

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Business Appreciation

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Retention Committee Engagement

Customer & Community Impact

Community and Customer Impact describes how AEDA’s work interfaces with the public. This is where marketing and communication goals are documented, as well as strategies to best align AEDA’s work with the Arvada Community’s vision for economic development.

Resident Survey Completed
Responses
Transit Campaign
Impressions
Holiday Campaign
Impressions

Invest in Arvada Campaign Created

#InvestInArvada

Organizational Impact

Organizational Impact pertains to internal strategies and goals that drive performance excellence and support.

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Received AEDO Reaccredidation

AEDA was reaccredited by the International Economic Development Council, remaining as one of only two Accredited Economic Development Organizations in the State of Colorado.

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Launched Arvada Sector Iniative

AEDA developed a Pilot Program with their Partner Manufacturer's Edge to provide process improvement training within other industries outside of manufacturing.

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Engaged Strategic Partners

AEDA relies on the strengths of internal City of Arvada teams and relationships with its strategic partners to support the Arvada business community. Through these partnerships, businesses receive expedited resources and meaningful assistance.

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