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 $10,207,592 in capital investment reported in April, 2018 was for the new construction of Ralston Valley Self Storage located at 14872 W. 69th Avenue ($4,020,372), new construction of Prestige Preschool located at 14659 W. 86th Parkway (2,000,000), and tenant finish of 24 Hour Fitness located at 12680 W. 64th Avenue (3,950,000). This figure reflects a combined total of existing and new commercial capital investment. Capital investments from business use tax for March 2018 and April 2018 will be reported and added to this figure when the information becomes available through Finance Department records.
$3,787,973 in use tax for February, 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 February, 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 April, 2018, $39,419,743 in private sector capital investment has been reported, which brings the total of $484,633,830 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.