Local businesses play a crucial role in the economic development of our region and community. They provide employment opportunities, revenue generation, and help to keep money circulating within our community. In other words, local businesses are central to our regional economic development and help to create a thriving economy.
Your business creates jobs.
According to a report by the Small Business Administration, small businesses create approximately two-thirds of net new jobs in the United States each year. These jobs are critical to the health of the local economy, as they provide employment opportunities for residents and help to attract new businesses to the area. In our nearly 800 Chamber members, we have over 34,000 employees represented throughout Mesa County.
Your business contributes to the local revenue generation and tax base.
By using local suppliers and service providers you keep the money circulating within our local economy. Your business pays property taxes on your facilities, sales taxes on products, and income taxes on profits. These tax revenues help to fund local government services such as schools, roads, and public safety. When local businesses thrive, they generate more tax revenue, which can be used to invest in infrastructure and other economic development initiatives.
Your business is important for community engagement and social cohesion.
Our local business owners are often deeply invested in their communities and have a personal stake in their success which often motivates them to invest in community projects and initiatives that can further drive local economic development. You have a unique ability to build relationships with your customers and other local stakeholders, so you have a pulse on what our community needs to thrive.
This can lead to a greater sense of community pride and social cohesion, which can in turn foster more opportunities for economic development. Local businesses can also serve as a hub for community events and activities, providing a gathering place for our residents and helping to create a stronger sense of community identity. Each month there are a multitude of opportunities throughout the Valley that help build our sense of pride in our community. Everything from murals featuring local artists and landmarks to concerts at wineries and supporting our local sports teams, these businesses are contributing to the Grand Valley culture we all know and love.
Your business has a positive impact on local non-profits.
Our local business community donates money, products and services to our non-profits that help fill in what our community needs to thrive. We know that our community is generous and by improving the lives of those in need, our non-profits and charities help create a more stable and prosperous community, which benefits our local businesses in the long run. According to a report commissioned by the Community Impact Council, Mesa County sees an economic contribution of more than $133 million circulated by our 225 non-profits.
Your business supports workforce development.
Investing in our local workforce development is another way we see our businesses support economic development. Many of you partner with Colorado Mesa University, Western Colorado Community College, and other educational institutions to develop training programs that provide our residents with the skills they need to fill job openings. You are open to job shadows, internships and apprenticeships that help our students learn about different job opportunities and get on the job training. By investing in our local workforce and working with partners, businesses help to create a more skilled and competitive workforce, benefiting us all.
Your business has a critical role in economic development. From job creation, contributing to the local tax base, keeping money circulating within our community, supporting local charities and investing in workforce development, you play a vital role in helping to create a thriving and resilient local economy.