This strategic result focuses on the total amount of commercial capital investments each year. The result Includes investment in both physical buildings and the furniture, fixtures, and equipment needed to operate a business within the building.
Commercial investment is a leading indicator of overall economic health in a community. If businesses feel comfortable enough to expand, they generally feel they can expect some level of business growth in the near future. As businesses grow the City can generally predict that municipal revenues and employee wages will be stable or increasing.
A significant portion of the $14,581,769 in capital investment reported in September, 2018 was for new construction of Red Rocks Church located at 7100 Wadsworth Boulevard ($2,900,000), new construction of RV Storage Building located at 5320 Gray Court ($1,440,371), and the new APEX Center splash pad located at 13150 W. 72nd Avenue ($1,645,715). This figure reflects a combined total of existing and new commercial capital investment. Capital investments from business use tax for August and September 2018 will be reported and added to this figure when the information becomes available through Finance Department records.
$2,036,510 in use tax for July, 2018 was reported and added to the capital investment total for that month. This figure represents the amount of new furniture, fixtures, and equipment Arvada businesses purchased in July, 2018. The figures being used for existing and new commercial building capital improvements are from building permits for completed work that received a certificate of occupancy.
As of September, 2018, $95,600,143 in private sector capital investment has been reported, which brings the total of $540,814,230 reported to date exceeding the goal of $350,000,000 by 2019.
The total investment calculation is based upon all commercial building permit valuations including multi-family, non-profit and public projects as reported by the Building Division with the Utilities Department, as well as, use tax valuations for items such as furniture, fixtures, equipment, and other business-related supplies reported by the Finance Department. Numbers are reported in thousands. Because of the Use Tax collection time frame, the number will be reported with a two-month lag from when the funds were collected.