Metric Definition:

The total number of business retention and expansion interactions conducted by the Economic Development Division by category of business.

Quarterly Performance:

A cornerstone of economic development strategy is to retain and expand existing businesses. To accomplish this, the Economic Development division began in 2016 targeting the top 25 employers, top 50 retailers, and small/medium sized businesses. Each of these types of businesses are targeted for different reasons:

• The top 25 employers are targeted because they make up a significant amount of the jobs in Centennial.

• The top 50 retailers are targeted to help maintain and expand the sales tax base that makes up over 50% of Centennial’s general fund revenue.

• Small and medium sized businesses are targeted for outreach because they are the principal drivers of economic growth in terms of job creation and investment. A strategic effort is being made to target small and medium sized businesses that have demonstrated some growth, pay higher wages, and are in an industry with a higher concentration in Centennial than Metro Denver and the nation.

The Economic Development division conducted 18 business retention and expansion interactions in Quarter 2. These business retention and expansion interactions included:

• 2 top 25 employers.

• 0 top 50 retailers.

• 16 small and medium sized businesses. After Quarter 3, the division has completed 52% of its goal (125) for number of business retention and expansion interactions in the year.

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City of Centennial
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Centennial, CO  80112

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