Economic Health
The economy policies emphasize job creation within the five adopted Targeted Industry Clusters, including: Clean Energy, Water Innovation, Bioscience, Technology, and Uniquely Fort Collins. Industry clusters are geographic concentrations of interconnected companies and institutions in a particular field. Clusters also include the institutions and professional organizations that provide research assistance and support to the industry. For instance, the Bioscience Cluster is comprised of 45 companies and close associations with Colorado State University.
A healthy and resilient economy:
- Diverse jobs that enable citizens and businesses to thrive.
- Reflects the values of our unique community in a changing world.
- An innovative, creative, and entrepreneurial atmosphere.
- Strong partnerships and collaboration with the private sector, educational institutions, and other organizations.
KEY PRINCIPLES
- Pursuing the development of a vibrant and resilient economy that reflects the values of our unique community in a changing world.
- Supporting the growth of the innovation economy to set the stage for business development, job creation, and a thriving entrepreneurial environment.
- Supporting local, unique, and creative businesses.
- Encouraging the redevelopment of strategic areas within the community.
- Participating in regional economic development efforts.
PRIORITY ACTIONS
The following is a partial list of implementation actions identified as priorities in the Action Plan. Please refer to the Action Plan for a complete list of implementation actions.
The recently completed Innosphere (formerly Rocky Mountain Innovation Initiative) building will incubate, support and accelerate the success of innovation-based startup companies in Northern Colorado.
- Leverage the Urban Renewal team (existing) o address cross cutting redevelopment and infill challenges and explore new means of addressing the challenges inherent in this type of development
- Update the Economic Action Plan, including a competitive analysis of the City, development of a retail retention program, and continued support for business incubation and targeted industry cluster development
- Update the Downtown Parking Plan
- Prepare an analysis of existing conditions in the Midtown Study Area
- Support the Downtown Development Authority’s evaluation of a community marketplace
Longer Term (2013 and beyond)
- Update the cost recovery model and utilize if for large annexations and subarea planning efforts