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Jun-17     On Target

Capital Investments

1. By 2019, create $350 million in private sector capital investments (buildings, furniture, fixtures, and equipment)

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 $13,218,690 in capital investment reported in June, 2017 was for the new construction of Sprouts located at 15050 W. 64th Avenue ($2,620,000), new construction of Solana Olde Town Station located at 6875 W. 56th Avenue ($1,816,800), new construction of Bad Daddy's Burger Bar located at 7450 W. 52nd Avenue ($425,000), and the tenant finish of Orange Theory Fitness located at 8031 Wadsworth Boulevard ($310,000). This figure reflects a combined total of existing and new commercial capital investment. Capital investments from business use tax for May and June 2017 will be reported and added to this figure when the information becomes available through Finance Department records.

$3,068,585 in use tax for April, 2017 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 April, 2017. 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 June, 2017, $47,909,118 in private sector capital investment has been reported, which brings the total of $325,827,403 reported to date toward the goal of $350,000,000 by 2019.