Economic Development Updates and Meeting
By LCEDC, Director Nicole Thompson
You may have heard some talk over the last few months about the Lake County Economic Development Corporation, or LCEDC as it is more commonly called. And you may be wondering what IS this LCEDC group, what is its purpose, what has it been doing, and why should it matter to me?
These are great and important questions. The typical response is the LCEDC is a private, membership-based 501 (c)(6) organization whose mission is to be THE catalyst for business success by helping to retaining and expanding the economic base in Leadville and Lake County. Since its formation in late 2012, the LCEDC has elected a board of directors of 14 people, including representatives from Climax, Colorado Mountain College, both the City and County, as well as smaller businesses in the community such as King Chiropractic, Pumphouse Carwash and Lube, and Grand West Lodge. It also hired a full time director in August who is working on creating a strong and solid foundation for the corporation which will ultimately lead to a strong and diverse economy.
But what does the Lake County Economic Development Corporation do and how does it impact the community? Economic development is all about building a strong and diverse economy which leads to a stronger and healthier community for its residents and businesses. Typically when one hears “economic development” phrases like “business retention”, “business development”, “business attraction”, “business expansion” immediately pop to mind. The LCEDC will play a key role in creating an environment where these phrases become reality—where entrpreneurs feel comfortable and confident in opening a new business and where existing businesses see viable opportunities to expand. As with any location there are challenges but there are also amazing opportunities.
LCEDC will provide assistance and services to facilitate the success of the new start-up business, the struggling entrepreneur, and the existing business. This could include helping to develop an effective business plan, assisting in securing financing, monitoring and, where appropriate, suggesting modifications to existing economic policies and procedures to encourage business growth while keeping the quality of life in our community. The LCEDC will seek out creative partnerships and relationships with organizations, investors, and neighboring communities to create economic synergies that might not otherwise exist.
EDC Meeting Information
Why is this important to you as a Lake County business? This deserves a simple answer. But rather than providing an answer here, I extend an invitation to each and every resident and business owner in Lake County. On Tuesday, December 17, 2013, the Lake County Economic Development Corporation will have its FIRST Annual Meeting at the National Mining Hall of Fame Museum. Starting at 5 p.m., individuals and business owners are invited to come and network with LCEDC Board and General Members and hear from colleagues and business owners the importance of LCEDC. There will be a presentation by board members and staff on why the LCEDC was created, what it has accomplished in its first year of operation, and what exciting things it has planned for the upcoming year.
A guest speaker, Wendell Pryor, executive director of the Chaffee County Economic Development Corporation, will share the pivotal and important role the CCEDC has played in the Chaffee County economy since its inception three years ago. While the presentations will be concise but informative, the real impact will be the opportunity for members of the community to interact and converse with LCEDC members and staff.
This will be an excellent opportunity to come out and learn more about LCEDC, its impact on the Lake County economy, and, if interested, how to become a member so you can be a part of LCEDC’s future endeavors as it grows and becomes a larger part of the community.
For more information or to RSVP, please contact Nicole J. Thompson, Executive Director, at email@example.com or 719-427-0118. Don’t miss out on what will certainly become an annual event recognizing, supporting, and strengthening the business community of Lake County!