Yesterday was supposed to be the end of the world. At least according to the Mayan calendar. And we survived.
So now what?
Two local economic indicators give reason for cautious optimism moving into 2013:
Tourism indicators for December were well behind pace and will likely shape up to be one of the more challenging years in recent memory due to poor early season snow and a disadvantageous holiday calendar. Fortunately, Mother Nature is cooperating and our mountain product is in excellent shape for the holiday rush.
Real estate indicators continue to trend in a positive direction with 2012 sales levels (as of October 31) outpacing 2011 by 126% in overall dollar volume and by 124% in overall transactions. Transactions under $500,000 make up a lion’s share of sales in October and year to date, showing a strong local’s market.
On a regional level, there’s quite a bit of activity as well.
The Vail Valley Partnership and the Economic Council of Eagle County are proud to represent Eagle County’s business interests by being active participants in the Northwest Colorado Council of Government’s “Colorado Blueprint” economic development efforts.
For those not familiar, the Colorado Blueprint is the state of Colorado’s economic development plan and is led by the Office of Economic Development and International Trade. The blueprint was developed as part of the “bottom up” economic development planning, of which Eagle County’s 2010 economic development plan created by the Economic Council and Vail Valley Partnership was a part.
The top goals of the Colorado Blueprint are:
1. Build a Business Friendly Environment
2. Recruit, Grow and Retain Businesses
3. Increase Access to Capital
4. Create and Market a Stronger Colorado Brand
5. Educate and Train the Future Workforce
6. Cultivate Innovation and Technology
Eagle County is part of the Rocky Mountain Resort Region along with Jackson, Grand, Summit and Pitkin counties. We are working together to help create a region that is a hotspot for smaller entrepreneurial innovative businesses that will help balance our tourism economies and to attract businesses that enhance and support our region. Our top industries are Tourism/Outdoor Recreation and Health/Wellness. Somewhat surprisingly, our next two top industries are Financial Services and Creative Industries.
The state Office of Economic Development and International Trade as well as the Northwest Colorado Council of Governments have an aggressive schedule to try to positively impact Colorado’s (and our mountain region’s) business environment. The Partnership is an active participant in these efforts to ensure that Eagle County’s business community interests are represented.
Back to our local economy, the Partnership and Economic Council have immediate plans in 2013 to help our business members and the economy of Eagle County.
The Partnership is working closely with the EGE Air Alliance to increase air service to Vail/Eagle County Regional Airport during the summer and fall months. The airport is a major economic driver of our tourism economy, our second homeowner community and our real estate community. Major construction is scheduled for Interstate 70 in summer 2013, potentially creating a major impact to our summer tourism efforts. Increased service to EGE will remain an important component of Eagle County’s economic growth.
We’re also planning a major “shop local” program as part of our One Valley initiative. We are excited to spotlight our business members in recurring advertising and website programs to drive awareness of the importance of small business to our overall economic vitality and health.
Our community programming, including the Health & Wellness Initiative, the Vail Valley Merchant Alliance and the Sports & Event Coalition, will continue to advocate for collaborative efforts amongst these stakeholder groups. New in 2013 will be the Economic Development Leadership Council, a group of industry volunteers that will help lead and direct our economic development efforts moving forward.
There is obviously a lot going on locally and regionally that impact our community and our continued efforts at economic growth. The Vail Valley Partnership works with local, regional & statewide partners to create & manage collaborative programs that encourage economic development in Eagle County. We encourage businesses to join the Partnership to help have your voice heard through our regional and local efforts to enhance our community.
So the Mayans were wrong and the world didn’t end on December 21. Take that as a sign to get involved in organizations such as the Vail Valley Partnership or your local merchant/industry group in 2013.
Chris Romer is the executive director of the Vail Valley Partnership and the Economic Council of Eagle County. Learn more about us at VailValleyPartnership.com