Analysis of Performance
- This is a quarterly measure - first quarter 2021 data is available at this time. The status is based on a two quarter delay, reflecting the first quarter 2021.
- 1Q2021 is very over target, indicating that new establishments were still opening during the COVID pandemic. The target is current quarter measured against the same quarter of the prior year. EHO will continue to track for trends.
- The total impacts of COVID-19 on our business community remains to be seen as we are seeing more business closures. Will will monitor this closely as it will impact some industries more than others.
This metric provides an understanding of business and job growth in the City. The total number of business establishments in Larimer County is divided by the current Larimer County population to understand job and business growth relative to population changes. The data reported is 2 Quarters in arrears due to the timing of receipt from Larimer County.
Why Is This Important?
# Business Establishments per Capita measures business growth relative to population growth. If the number of businesses per capita increases, it indicates that economic growth is is serving more than the community.
City Organization Impact on Performance
Medium – The activities of the Economic Health Office directly relate to business expansion and retention, however, the City does not focus on business attraction.
We are looking at other Front Range cities and some peer city data to see if these benchmarks gives an indication of how well the City is competing to capture the value in this market.