Understanding the Vail Valley’s Economic Portfolio
(Avon, CO) – Snow is extremely valuable to the Vail Valley’s economy. Our ski industry businesses give our snowfall economic value, generating payroll, local spending and taxes that drive our local economy. While the ski industry anchors our economy, other sectors such as health care, professional services, construction & development, and relative newcomers like craft brewing, contribute greatly to the success of our economy. The future of our local companies will have a substantial impact on the success the valley’s economy for years to come.
In an effort to better serve the businesses and citizens in our community, Vail Valley Economic Development, an initiative of Vail Valley Partnership, is embarking on a campaign, called SmartBusiness Eagle County, to assess the health of the Vail Valley’s economic portfolio.
In the coming months Vail Valley Economic Development, in partnership with other local business support partners, will be contacting company officials to set up meetings to learn about their company, trends in their industry, the valley as a place to do business, and other business trends and factors affecting local businesses.
“The portfolio approach of SmartBusiness Eagle County will allow leaders to better understand individual companies and the overall business community,” said Jeremy Rietmann, business development director at Vail Valley Partnership. “This information will enable us to give community leaders a solid foundation for making economic development and program decisions, and then allocate resources accordingly.”
Economic Portfolio Management is a new movement in the U.S. and Canada. Vail Valley Economic Development is among a select group of leaders in economic development implementing this strategy in Colorado.
Vail Valley Economic Development functions as the public/private professional economic development partner of Eagle County Government, providing business support services across the Vail Valley. Thanks to public sector support from Eagle County, Vail Valley Partnership has purchased a new set of tools to help gain a solid understanding of the Vail Valley’s portfolio.
Synchronist Business Information System®, a product of Blane, Canada Ltd., is designed to assist communities in understanding companies’ roles in the community. Synchronist will aid Vail Valley Economic Development in better managing and analyzing the information gathered to help identify the critical success factors impacting companies in the Vail Valley. This information will be used to help public partners make better-informed decisions that improve the local educational offerings, transportation systems, and utility and service infrastructure needed to maintain local business growth. The tool also includes a patented predictive model, designed to give our communities advance warning of, and the ability to respond to, opportunities and challenges facing local businesses.
The participation of local business owners, company executives and managers is critical. Every company executive is encouraged to take this opportunity to meet with Vail Valley Economic Development to share your views when contacted.
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About Vail Valley Economic Development:
Vail Valley Economic Development, an initiative of Vail Valley Partnership, provides professional economic development services across the Vail Valley, providing a single point of contact for economic and business-development related inquiries, and responsiveness to area business needs. Vail Valley Economic Development (VVED) works to support local businesses and we market our communities to businesses and entrepreneurs that have the potential to add value to our economy. VVED’s website provides a wealth of helpful resources to support local business operations including, community information, and free, relevant data and analysis regarding local demographics, labor force, tourism impacts on the Vail Valley and more. For more information on Vail Valley Economic Development, please visit http://www.vailvalleymeansbusiness.com.
About Vail Valley Partnership:
Vail Valley Partnership is a 501(c) (6) nonprofit organization that serves as the community development organization for Eagle County, Colorado and the Vail Valley. Vail Valley Partnership (VVP) is a regional leader in sustaining and enhancing the Vail Valley as a tourism destination, dedicated to the economic vitality of the Vail Valley. With membership of 800+ organizations that spans the Vail Valley and beyond and which represents 80% of the local workforce, Vail Valley Partnership is dedicated to ensuring local business success and fostering regional economic vitality by offering local business tools & resources, promoting the Vail Valley to destination guests, and initiating economic development efforts through Vail Valley Economic Development. For more information on the Vail Valley Partnership, please visit http://www.vailvalleypartnership.com/.