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FIRST QUARTER 2017 RESULTS AND INVESTOR UPDATE
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Greetings!
It has been a busy first quarter here at GJEP. We're working with 28 new companies in 2017, and have a total of 84 active leads and 117 active prospects.
The outdoor recreation industry continues to grow and now represents 23% of the business prospects we are supporting at GJEP. Tech-related companies inched up to 18% and energy jumped back into the top three at 15% (pushing agribusiness to 4th place at 12%).
We attended a full five trade shows in Q1 - more on that follows below, along with early successes in recruitment and retention, and a promising report on Jump-Start.
Happy Reading!
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- Targets: 2000
- Prospects: 117
- Leads: 84
- New Companies: 28
- Local Assists: 7
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EARLY SUCCESSES:
SUNSHINE POLISHING TECHNOLOGY AND BONSAI DESIGN
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In February, the City of Grand Junction approved an incentive package for Sunshine Polishing Technology to move its U.S. operations from Eagle to Mesa County. The City has secured a plot in the Jarvis Subdivision just off Riverside Parkway for the company and it plans to begin construction this spring.
Sunshine Polishing will add 15 jobs to the local economy, with an estimated total annual economic impact of $4,154,057. The construction project is also anticipated to bring positive economic activity to the community totaling $1,012,293. Read the original announcement here.
Closing out March, the City approved another incentive package to retain Bonsai Design in Grand Junction, which serves as a significant step toward building a combined business and public recreational park in the existing Las Colonias Park. Bonsai Design will build a new $2 million facility that will serve as the anchor of the new business park. The company also plans to include a signature zip line and challenge course accessible by the public.
The proposed business and recreation park is estimated to take 18 months to build out and will cost $30 million, which will be funded through a public-private partnership. The retention and expansion of Bonsai Design alone is expected to have a positive economic impact of $20 million, and GJEP and Bonsai Design have already reached out to other potential investors and future tenants of the business park. Learn more.
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We accepted seven companies into the Jump-Start tax credit program in 2016 - this year we have six companies in the pipeline, and its only the first quarter!
Among the six applicants, we have a mix of clean energy, digital, manufacturing and outdoor recreation related businesses. The businesses will be headed in front of the Economic Development Council in Denver for final approval in the coming months.
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GJEP has gratefully accepted a role as a leading expert and community voice on several issues affecting economic prosperity in the Grand Valley. This, coupled with increased interest from national trade and statewide media, has provided for a strong PR presence to kick off 2017.
Placements: 38
Reach: over 6 million *Up 275% YOY
Ad Equivalency: $75K *Up 188% YOY
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GJEP approached 2017 media buys with a strong focus on industry-specific marketing in key geographic targets.
Spend-to-Date: $22,168
Reach: 13.8 million
In addition to a significant audience targeting (digital) ad campaign, GJEP placed Q1 ads in:
Business Facilities, Business Xpansion Journal, ROVA, SGB Today, Colorado Biz, The Daily Sentinel, CPR, KAFM and Site Selection.
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- 5,427 unique users
- Over 10,000 pageviews
- 80.3% new visitors
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- Sessions up 176.34% YOY
- Users up 171.35% YOY
- Pageviews up 165.58% YOY
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Steve's Q1 Trade Show Roundup
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Steve made two trips to Las Vegas in January, first to visit the Consumer Electronics Show (CES) and then back for the Shot Show. Both trade shows were new to GJEP and proved to have great value. Steve visited with 89 exhibitors at CES, obtaining two new international prospects looking to expand to the U.S.
At the Shot Show, Steve met with 136 exhibitors to tout the new shooting complex in Palisade. Over 30+ businesses expressed an interest in learning more.
Steve also managed to return to the SIA Snowsports trade show in Denver, where he met with over 80 exhibitors, and visited with over 60 exhibitors at the Medical Design & Manufacturing show in California.
Jennifer Seal stepped in for Steve in Washington D.C., where she attended the SLS/Orion Suppliers Conference and visited with close to 30 Lockheed Martin aerospace suppliers.
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We are excited to welcome the Colorado Public Employees Retirement Association (PERA) among GJEP's investors this year. Colorado PERA not only joins our Champion level of annual supporters, but will be sponsoring both the 2017 Western Colorado Economic Summit and an upcoming GJEP video related to the Jump-Start tax credit program - stay tuned for more...
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April 7 @ 9 a.m. - Coffee with Colorado PERA
We would like to invite you to join us on the morning of April 7th
from 9:00-10:00 a.m. at GJEP for coffee with Greg Smith, Executive Director for Colorado PERA. Meet GJEP's latest investor and learn why PERA wants to be a partner in the economic development efforts of the community. Please RSVP to Jennifer at jennifer@gjep.org.
May 20 @ 9:30 a.m. - Cameo Shooting and Education Complex Inauguration
Colorado Parks and Wildlife and the Town of Palisade are proud to announce the official inauguration of the Cameo Shooting and Education Complex.
Please save the date, Saturday, May 20, 2017, and join us as we welcome Governor John Hickenlooper to the Grand Valley for a morning celebration.
After a keynote address, the Governor will take the ceremonial "First Shot" using a custom rifle provided by a Grand Junction manufacturer.
Meet and Greet at 8:30 a.m.
Ceremony to start promptly at 9:30 a.m.
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June 6 at Colorado Mesa University
Doors open 7:30 a.m.
#westcoeconomics
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**Sponsorship opportunities for the Economic Summit are still available. Please contact Jennifer at (970) 245 4332 or email jennifer@gjep.org for more information.
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