Consultant weighs city's pros, cons

Colorado Springs is in the top 10 among U.S. cities when it comes to economic development efforts, said Angelos Angelou, an Austin, Texas-based consultant.

Being near the top, however, isn't the same as being at the top. That's part of the reason civic leaders announced last month that they've hired AngelouEconomics, Angelou's consulting firm, to examine the community's economic development game plan and determine what changes, if any, are needed to propel the city to the top as it seeks to attract and retain employers and jobs.

"This is an opportunity, I think, to become No. 1, and that's hopefully what this study will be identifying," Angelos said after a news conference to launch a new economic development study. "How can we strengthen the product, which is Colorado Springs? How can we strengthen the marketing? How can we provide a shared vision about what it is, as a city, you want to be 10, 20 years from now?"

Colorado Springs last conducted a major economic development study about 20 years ago.

The AngelouEconomics study, slated to cost $160,000 and scheduled to be completed by mid-June, will help determine which business and industries are best suited for Colorado Springs, what types of jobs should be pursued and the role the community should play in economic development efforts. The study has been dubbed "Operation 6035," which reflects the community's elevation. The public is being invited to participate, and can get more information at www.operation6035.com.

Angelou spent 11 years with the Greater Austin Chamber of Commerce and helped recruit 400 technology companies and 70,000 employees. He has a bachelor's degree in economics from the University of Texas at San Antonio and a master's degree in economics from St. Mary's University in San Antonio.

Question: You said recently that Colorado Springs has assets that communities would die for. What are some of the Springs' strengths when it comes to economic development?

Answer: The region benefits from a strong strategic location. Growing higher education institutions and military operations provide significant competitive advantages for the region, particularly for emerging technologies ... (The) presence of (the U.S. Olympic Committee) and other sports organizations can be leveraged to attract additional sports- and health-related industries. Highly educated work force and work force-development programs provide existing and potential companies with significant work force advantages. Competitive cost of living and quality of life.

Q: What are some of the Springs' weaknesses?

A: We have found that it is not the communities that have the most resources available but those that leverage their resources very well that are the most successful. The region must work together and leverage their assets and have a common vision. This visioning process has not taken place for economic development for more than 20 years, and this is precisely what the study will address.

Q: Are there common themes that employers look for these days in a community (such as quality of life, quality of work force, financial incentives), or are all employers different in what they're seeking?

A: Quality of existing work force and ability to attract new employees are the most important factors. Additionally, public sector support (business-friendly environment), cost of doing business (taxes, utilities, etc.) and incentives availability are critical site-selection factors.

Q: Colorado Springs and the state offer few financial incentives to employers. Without prejudging the results of your study, how important are financial incentives in today's economic development environment?

A: Incentives are increasingly becoming a critical site-selection factor for many companies. Targeted companies are being offered upfront cash grants while maintaining public confidence through various claw-back provisions (retracting incentives if jobs aren't produced). Incentives by themselves are rarely the deciding factor for site selection but one important variable among many other variables.

Q: Colorado Springs has a reputation nationally as a community that's socially, politically and fiscally conservative. What effect, if any, does that reputation have on efforts to recruit and retain employers?

A: I don't think it affects the great majority of decisionmakers one way or another. Most businesses are primarily focused on more central business factors, such as work force and costs, when evaluating regions. Perception is reality in economic development. Perhaps Colorado Springs may need to drive the debate that its conservative environment may actually be great for business (that is, responsible fiscal policies, low taxes and core values). Left unanswered, this perception may be construed as a negative situation.

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