As Charles Schwab\u2019s first wave of employees unpacks boxes at the firm\u2019s new corporate campus, Lone Tree already is scanning its economic horizon.<\/p>\n
The small city with plenty of room to grow is on a development roll, and its leaders want to keep the momentum going.<\/p>\n
Economic development director Jeff Holwell, who joined the city\u2019s staff earlier this year, mapped out a vision for Lone Tree during the city council\u2019s Oct. 7 work session. The plan recommends Lone Tree target mostly high-paying industries to locate and expand there, strengthen and grow its retail base and ensure businesses already operating within the city limits thrive.<\/p>\n
It suggests an upgrade to the city`s website, more social media to highlight the city\u2019s restaurants and retailers, a survey to gauge the satisfaction of current business owners and marketing the city to real estate agents and corporate site selectors.<\/p>\n
Many of these are tasks at which Lone Tree already has proven itself capable.<\/p>\n
\u201cI think the city for a very long time has had a very ambitious agenda,\u201d said Holwell, formerly economic development director and chief operating officer at the South Metro Denver Chamber of Commerce. \u201cWe have a lot of geographic advantages.\u201d<\/p>\n
Both Interstate 25 and C-470 cut through Lone Tree, with those major thoroughfares undergoing or soon to undergo significant upgrades. Recent state-level commitments that bolster the certainty of the southeast light rail extension also make it easier to plan for Lone Tree\u2019s future development.<\/p>\n
The geographic advantages also include proximity to five of the state\u2019s nine Fortune 500 companies. CH2M Hill, DISH Network, Arrow Electronics, Liberty Interactive and Western Union all are within a mile of Lone Tree.<\/p>\n
The largest swath of undeveloped land in Lone Tree is the four acres of RidgeGate east of Interstate 25, but the plan\u2019s focus is citywide.<\/p>\n
\u201cCertainly in terms of primary job development, RidgeGate is a huge opportunity for us,\u201d Holwell said. \u201cOur intention is to grow from within as well as the eastern portion. We want to highlight both the primary employment and the retail employment strategy. The combination of both will provide us a world-class business community.\u201d<\/p>\n
With Schwab as the west side\u2019s major corporate tenant, the city hopes to find a similar significant employer on the east side.<\/p>\n
\u201cThere are no limits on what that has to be,\u201d Holwell said. \u201cIt could be a combination of several businesses to make 4,000 employees or a single corporate campus.\u201d<\/p>\n
At build-out, Schwab\u2019s Lone Tree campus will house about 4,000 employees, making it the county\u2019s second-largest employer. The Douglas County School District employs about 7,000 people.<\/p>\n
Holwell suggested the city target financial services, technology and telecom businesses, energy and professional services, aerospace and aviation and health care-related businesses. Average wages in those industries range from $52,000 to about $126,000.<\/p>\n
While Douglas County\u2019s median household income is nearing $100,000, Holwell noted its average wage of $54,400 is lower than the average in Broomfield, Denver and Arapahoe counties.<\/p>\n
\u201cIt\u2019s a suggestion we have some work to do in improving our primary employment base,\u201d Holwell said.<\/p>\n
Holwell proposed the city consider hosting a commercial real estate summit, and continue its predictable, streamlined city approval process.<\/p>\n
He recommended conducting a \u201cretail and restaurant opportunities analysis\u201d and gaining increased exposure for the city\u2019s existing shops and eateries.<\/p>\n
\u201cI\u2019m suggesting we really start thinking about our website and social media presence,\u201d he said. \u201cGet on Yelp or TripAdvisor. Look at what people are saying about Lone Tree.\u201d<\/p>\n
The 3-year-old Lone Tree Arts Center, which Holwell called \u201cour greatest tourism asset,\u201d should remain a marketing priority.<\/p>\n
Lone Tree Mayor Jim Gunning said the city can use testimony from those who have recently worked with city staff to enhance its reputation.<\/p>\n
Schwab\u2019s senior vice president of corporate real estate Glenn Cooper reportedly told Gunning that he\u2019s \u201cnever worked with a city that has leaned forward more than Lone Tree did. That kind of stuff gets around.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
As Charles Schwab\u2019s first wave of employees unpacks boxes at the firm\u2019s new corporate campus, Lone Tree already is scanning its economic horizon. The small city with plenty of room to grow is on a…<\/p>\n