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 $4,569,854 in capital investment reported in August, 2017 was for the new construction of Mountain Dental Specialist located at 7991 Vance Drive ($2,230.000), and tenant finish for Newks Eatery located at 7450 W. 52nd Avenue ($459,554). This figure reflects a combined total of existing and new commercial capital investment. Capital investments from business use tax for July and August 2017 will be reported and added to this figure when the information becomes available through Finance Department records.
$12,083,838 in use tax for June, 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 June, 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 August, 2017, $93,473,635 in private sector capital investment has been reported, which brings the total of $371,391,920 reported to date exceeding the goal of $350,000,000 by 2019.