Why is an incorporated Niwot good for business?
UPDATED NOV 20 2019
Small towns, like businesses, compete daily for customers by delivering compelling dining and shopping experiences that bring customers back and generate new customers.
Niwot competes with Longmont, Louisville, Lafayette, Gunbarrel and Boulder. Niwot's Old town, (with vacant retail spaces at strategic locations like the Powder Keg building, the Tribune building, Colterra location, the Left Hand Animal Hospital space and the Meisner gateway property), is at a competitive disadvantage.
People are drawn to dynamic towns with lots of foot traffic. A restaurant with an empty parking lot is not inviting. Our "parking lot" in Old Town is not a draw for customers looking for a compelling experience.
So, to answer the question, why is an incorporated Niwot good for business?
Addressing the question from three perspectives:
1. For the potential property owner, considering a purchase; if an investment is considered high risk (like Niwot during and after the moratorium), the investor will demand a higher return on investment. A price discount will be required just to justify competitive rents. Without a price discount, higher rents will be required to compensate for the increased risk, limiting the property to a smaller pool of businesses able to be successful.
A business-friendly government, reduces the investment risk, enabling the investor to accept competitive rents, broadening the pool of potential businesses. In the end, we have more entrepreneurs choosing to bring their businesses to Niwot, thus building a critical mass of successful businesses, which will be the draw for additional businesses. Success attracts more success.
2. For the potential business owner; a responsive government enables a substantial increase in execution speed. The time it takes to get changes implemented can be drastically reduced.
A government responding in days to requests vs months like Boulder County, will, as an example, reduce time for renovations that improve capacity which improves revenues and profit, resulting in more successful businesses.
A responsive government will reduce the time and cost of building a parking lot, as another example. Easily accessible parking is crucial for businesses in a thriving business district. Niwot should have available and free parking for our customers. We don't want to be Boulder.
A business-friendly government will support incentives to shop and dine locally. This has great potential for business vitality.
3. Niwot Vision 2029: The Niwot Vision Committee was formed in response to a request by the Niwot Local Improvement District Advisory Board (LID). Using data gained from a survey to Niwot Residents, Niwot Vision 2029 was created.
Niwot Vision 2029 creates a vision for a series of HUBS, connected by bicycle and pedestrian paths. The HUBS will be directed by the desires of the community, but could include a skate park, splash park, co-working space, community pool, ice rink, etc.
Niwot Vision 2029 has a much higher potential of happening under the leadership and support of a focused local government. Niwot residents and businesses will have a voice and be able to chart their own destiny for the future of Niwot.
At a presentation of Niwot Vision 2029 to the County Commissioners, Commissioner Deb Gardner responded with “that will never happen”.
A mix of recreation and interaction opportunities for Niwot residents of all ages are part of Niwot Vision 2029. Pride in Niwot will cause more residents to shop and dine locally. A small town with charm and character, with vibrant restaurants, shops, recreation opportunities and services can provide its residents the quality of life only small towns can.